Selling a car to a Ferrari main dealer - inspection
Discussion
Hi folks,
I have been made a semi decent offer for my 458 by one of the main Ferrari dealers. They have told me the agreed price is subject to an inspection.
Anyone got any experiences to share - happy to hear via PM if you prefer.
Can I expect them to find a long list of to do's and break me down on price (after all they are car stealers!!) or are they usually good?
They should have around £15-20k margin in the car with the mileage and condition it is in.
I have been made a semi decent offer for my 458 by one of the main Ferrari dealers. They have told me the agreed price is subject to an inspection.
Anyone got any experiences to share - happy to hear via PM if you prefer.
Can I expect them to find a long list of to do's and break me down on price (after all they are car stealers!!) or are they usually good?
They should have around £15-20k margin in the car with the mileage and condition it is in.
Hi
I sold my 2013 (63) plate 458 spider too a main dealer in January this year car had 17500 miles on.
In fairness I met the dealers buyer on site and he basically spent around 20 mins looking around the car. He checked the roof was working and we went for a 5 minute drive.
They offered me what we had agreed over the phone prior to the inspection. They paid for my private registration to be removed and paid the retention fee.
Money was in my bank the next day.
Car appeared for sale 3 days later with a mark up of around £12K. Considering they had to put another 2 year warranty on the car and perhaps do some paint work on the front was around what I was expecting to be honest.
Just be wary of all the regret thoughts you get for the next few months or years..................... Good Luck with what ever you decide.
I sold my 2013 (63) plate 458 spider too a main dealer in January this year car had 17500 miles on.
In fairness I met the dealers buyer on site and he basically spent around 20 mins looking around the car. He checked the roof was working and we went for a 5 minute drive.
They offered me what we had agreed over the phone prior to the inspection. They paid for my private registration to be removed and paid the retention fee.
Money was in my bank the next day.
Car appeared for sale 3 days later with a mark up of around £12K. Considering they had to put another 2 year warranty on the car and perhaps do some paint work on the front was around what I was expecting to be honest.
Just be wary of all the regret thoughts you get for the next few months or years..................... Good Luck with what ever you decide.
The guy got off the train and spent less than 3 minutes looking around the car, drove back to my house (maybe 5 miles), money was in my account within 15 minutes.
It got advertised at ~£15k more within a few days (it wouldn't have needed any physical prep)
Very smooth process, although it did leave a lingering doubt that I could've got more.
If your car is honest and your description of it likewise it ought to be a very smooth and stress free process.
It got advertised at ~£15k more within a few days (it wouldn't have needed any physical prep)
Very smooth process, although it did leave a lingering doubt that I could've got more.
If your car is honest and your description of it likewise it ought to be a very smooth and stress free process.
There has got to be a better way of buying and selling supercars without being shafted at both ends of the process. Not all dealers work on such high margins though. I have found some specialist independent dealers are more sensible and rely on a quicker turnaround. There should be a website that brings together buyers and sellers of supercars, after all you can pay for inspections and warranties or self insure!
Well you are right and I have tried SOR with two different dealers now and the car is priced £10k less than it would be at a Ferrari main dealer but it's still not shifting (tried for 4 months now).
I think a lot of people in the market for these cars are stuck up on the Ferrari Power Warranty which from experience is frankly crap! A good after market warranty is much better than paying £10-15k more for a car from a Ferrari main dealer IMHO but that's not the way the market thinks unfortunately.
Cars at main dealers are the only ones that seem to be shifting.
I think a lot of people in the market for these cars are stuck up on the Ferrari Power Warranty which from experience is frankly crap! A good after market warranty is much better than paying £10-15k more for a car from a Ferrari main dealer IMHO but that's not the way the market thinks unfortunately.
Cars at main dealers are the only ones that seem to be shifting.
Durzel said:
The guy got off the train and spent less than 3 minutes looking around the car, drove back to my house (maybe 5 miles), money was in my account within 15 minutes.
It got advertised at ~£15k more within a few days (it wouldn't have needed any physical prep)
Very smooth process, although it did leave a lingering doubt that I could've got more.
If your car is honest and your description of it likewise it ought to be a very smooth and stress free process.
Thank you that sounds painless to me. It got advertised at ~£15k more within a few days (it wouldn't have needed any physical prep)
Very smooth process, although it did leave a lingering doubt that I could've got more.
If your car is honest and your description of it likewise it ought to be a very smooth and stress free process.
W4NTED said:
Well you are right and I have tried SOR with two different dealers now and the car is priced £10k less than it would be at a Ferrari main dealer but it's still not shifting (tried for 4 months now).
I think a lot of people in the market for these cars are stuck up on the Ferrari Power Warranty which from experience is frankly crap! A good after market warranty is much better than paying £10-15k more for a car from a Ferrari main dealer IMHO but that's not the way the market thinks unfortunately.
Cars at main dealers are the only ones that seem to be shifting.
I was going to px mine recently at an indie for a lovely 458 .. I decided against it and they must have sold it within a few weeks as I have noticed its sold now. However they have been trying to sell an FF for a very long time. Depends on the model, spec etc I suppose. Uncertainty in the World doesn't help.I think a lot of people in the market for these cars are stuck up on the Ferrari Power Warranty which from experience is frankly crap! A good after market warranty is much better than paying £10-15k more for a car from a Ferrari main dealer IMHO but that's not the way the market thinks unfortunately.
Cars at main dealers are the only ones that seem to be shifting.
Jonny TVR said:
I was going to px mine recently at an indie for a lovely 458 .. I decided against it and they must have sold it within a few weeks as I have noticed its sold now. However they have been trying to sell an FF for a very long time. Depends on the model, spec etc I suppose. Uncertainty in the World doesn't help.
Hi there..I think you mean Redline cars where i bought my GS 458 from last Christmas.They had three 458s for sale then and all three sold quickly at around the same time..The one you spotted there was indeed a beauty and sold pretty much straight away in complete contrast to 488s they have which seem to be taking a lot longer..When i bought mine the Sales guy told me that 458s in the right spec are the most sought after and sell very quickly.The FF they have for sale has been with them for a while and is an absolute corker IMO..Its the best value FF currently on the UK market especially if you take into consideration its relatively low mileage and great spec..
Redline are fantastic to deal with and only seem to deal in genuine very clean cars..
W4NTED said:
Well you are right and I have tried SOR with two different dealers now and the car is priced £10k less than it would be at a Ferrari main dealer but it's still not shifting (tried for 4 months now).
I think a lot of people in the market for these cars are stuck up on the Ferrari Power Warranty which from experience is frankly crap! A good after market warranty is much better than paying £10-15k more for a car from a Ferrari main dealer IMHO but that's not the way the market thinks unfortunately.
Cars at main dealers are the only ones that seem to be shifting.
I wouldn't have bought mine without a Power Warranty, but I have a bitter experience of having had something fairly costly go wrong (pretty much the only thing that does go wrong with them I think) which wasn't covered. I had some goodwill from the dealer, but Ferrari UK weren't interested and just pointed me at the exclusions in the contract.I think a lot of people in the market for these cars are stuck up on the Ferrari Power Warranty which from experience is frankly crap! A good after market warranty is much better than paying £10-15k more for a car from a Ferrari main dealer IMHO but that's not the way the market thinks unfortunately.
Cars at main dealers are the only ones that seem to be shifting.
That said, for many, a "Ferrari Warranty" will be a big selling point on a private/indie car.
I have said on here before and completely agree - the Ferrari Power warranty is useless. The main items are NOT covered. I had both rear shock absorbers replaced at my cost as they would not cover the items.
An after market warranty was a much better option. Surprised how people want to spend £10-15k more buying from a dealer for this reason.
An after market warranty was a much better option. Surprised how people want to spend £10-15k more buying from a dealer for this reason.
PrancingHorses said:
I have said on here before and completely agree - the Ferrari Power warranty is useless. The main items are NOT covered. I had both rear shock absorbers replaced at my cost as they would not cover the items.
An after market warranty was a much better option. Surprised how people want to spend £10-15k more buying from a dealer for this reason.
When you say the ferrari power warranty is that the original factory warranty or is that the dealer offered warranty on older cars?An after market warranty was a much better option. Surprised how people want to spend £10-15k more buying from a dealer for this reason.
Jonny TVR said:
PrancingHorses said:
I have said on here before and completely agree - the Ferrari Power warranty is useless. The main items are NOT covered. I had both rear shock absorbers replaced at my cost as they would not cover the items.
An after market warranty was a much better option. Surprised how people want to spend £10-15k more buying from a dealer for this reason.
When you say the ferrari power warranty is that the original factory warranty or is that the dealer offered warranty on older cars?An after market warranty was a much better option. Surprised how people want to spend £10-15k more buying from a dealer for this reason.
Like PrancingHorses I had to buy new shocks, only in my case I had one fail at opposite sides and ends of the car, so had to replace all 4. Could've done just the ones that were leaking I suppose, but that didn't seem prudent.
Durzel said:
Dealer offered warranty on older cars.
Like PrancingHorses I had to buy new shocks, only in my case I had one fail at opposite sides and ends of the car, so had to replace all 4. Could've done just the ones that were leaking I suppose, but that didn't seem prudent.
Indeed - only one of my rears was leaking but was told they are always replaced in pairs...so I changed them both. Like PrancingHorses I had to buy new shocks, only in my case I had one fail at opposite sides and ends of the car, so had to replace all 4. Could've done just the ones that were leaking I suppose, but that didn't seem prudent.
Jonny TVR said:
so why do people buy from a main dealer ... lazy? or easier? in normal life you wouldn't throw away £15K like that
For the same reason as buying any expensive car from a main dealer - security, and facilities.Main dealers offer the cars with a 2 year Ferrari warranty. Granted people who have actually had to claim on it will have found out that it has important exclusions (although that might depend on your relationship with Ferrari - I don't have a special relationship with a main dealer or a long Ferrari buying history), but people who are buying their first Ferrari and/or can't necessarily afford for big ticket items to fail - it will be an important thing to have for peace of mind.
Main dealers offer finance facilities. You don't get that with a private seller, for one. You can get finance from indies, and a warranty, but the latter might not seem to be as comprehensive as the Ferrari one, at least on the face of it.
Lastly main dealers have big glass fronted buildings with people inside you can go in and shout at if things go wrong. You know they're going to be around for however long you own the car. You can assume (but may well be wrong) that because they are a "Ferrari main dealer" that they will be a safe bet, the car you buy will be sorted whereas maybe an indie might skimp on prep, etc. The reality as anyone will tell you is that a main dealer, like any dealer, will want to maximise their spread on selling cars. There is I'm sure a difference in what their expectations are on a car they sell to you vs one they look to buy in, e.g. tyre wear/age, clutch wear, etc. If you buy from an indie you have to check for reviews and hope that they are genuine, etc. You don't know for certain if that indie will be around to shout at after you've bought the car, etc.
Knowing what I know now I wouldn't have been so obsessed with having a Ferrari Power Warranty, or buying from a main dealer.
You can get finance when buying privately. I did this originally on my e-type through Oracle finance.
I wonder how many first time Ferrari main dealer purchasers are true enthusiasts/ petrolheads versus those solely interested in it as a status thing or to tick the ferrari box. I suppose that makes a difference.
It would require a bit more work but I would be happy to buy privately or through an indie .. well I have done already and saved.
The only time I got a good deal of a main dealer was a Bentley dealer on a Maserati they had taken in px!!
I wonder how many first time Ferrari main dealer purchasers are true enthusiasts/ petrolheads versus those solely interested in it as a status thing or to tick the ferrari box. I suppose that makes a difference.
It would require a bit more work but I would be happy to buy privately or through an indie .. well I have done already and saved.
The only time I got a good deal of a main dealer was a Bentley dealer on a Maserati they had taken in px!!
Edited by Jonny TVR on Friday 31st May 12:30
You can get finance when buying privately and will most likely get a much better deal on APR vs a dealer deal. So £15k less and lower monthly payments are the award for thinking about of the box and by passing that glass fronted showroom. I use Magnitude and Oracle for this.
I have bought a good few nice car's privately over the years - a lovely Jaguar XKR, Aston Martin DB9 and a Maserati Granturismo S - all were advertised on Pistonheads by proper car enthusiasts. It does not take long to figure out a genuine and passionate owner of a privately owned car - all these car's were owned by nicely spoken and presented gentlemen who lived in nice houses with full provenance and tons of receipts and paper work. Viewing the cars gave me the confidence that these are genuine people with genuine cars to sell so I took the jump and did not have any negative experiences at all. I took out warranty direct policies on them and happily drove them for 12-24 months and any issues that did crop up were covered by the warranty.
I would much rather deal with these people than fake car salesmen who would sell you a lovely Yellow Ferrari and tell you it's the most sought after colour in the range as it's so rare only to be raped once you go back to sell it to them when they say "ah sorry it's yellow no one wants these so market value will be £20k lower than a red or black car"
I would buy privately again - not only because it saves a whole lot of money but also because some of these car's are owned by real enthusiasts like myself.
I have bought a good few nice car's privately over the years - a lovely Jaguar XKR, Aston Martin DB9 and a Maserati Granturismo S - all were advertised on Pistonheads by proper car enthusiasts. It does not take long to figure out a genuine and passionate owner of a privately owned car - all these car's were owned by nicely spoken and presented gentlemen who lived in nice houses with full provenance and tons of receipts and paper work. Viewing the cars gave me the confidence that these are genuine people with genuine cars to sell so I took the jump and did not have any negative experiences at all. I took out warranty direct policies on them and happily drove them for 12-24 months and any issues that did crop up were covered by the warranty.
I would much rather deal with these people than fake car salesmen who would sell you a lovely Yellow Ferrari and tell you it's the most sought after colour in the range as it's so rare only to be raped once you go back to sell it to them when they say "ah sorry it's yellow no one wants these so market value will be £20k lower than a red or black car"
I would buy privately again - not only because it saves a whole lot of money but also because some of these car's are owned by real enthusiasts like myself.
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