430 Scud

[kbf1981]

I've never bought a classic car - in terms of funding something like a 430 Scud, do people just pay cash or can you HP with balloon it?

I get better returns on the cash but still fancy one and can't see them going down in value.

[Akajak]

I’m sure people do either

[MDL111]

I used FFS when I bought mine

[kbf1981]

MDL111 said:

I used FFS when I bought mine

Brilliant, if you don't mind saying (no worries if you do), what sort of % do they put on the balloon value? Scud's don't seem to have moved in years, so the real cost of ownership must be pretty good value tbh.

[supersport]

I got 4.5% API just over 18 months ago. Ferrari wanted 6% from memory.

I used Clydesdale. The 430 was a little over their normal age limit but it was fine and very easy.

[MDL111]

kbf1981 said:

MDL111 said:

I used FFS when I bought mine

Brilliant, if you don't mind saying (no worries if you do), what sort of % do they put on the balloon value? Scud's don't seem to have moved in years, so the real cost of ownership must be pretty good value tbh.

I don't mind, but it has been a while (October 2017) so can't remember exactly. I think it was approx: purchase price 150k, balloon after 3 year high 80s (I want to say 87), interest rate c 3.9%, downpayment 30k. Unfortunately my emails don't go back far enough, so I can't look it up. I paid it back early and paid 0.50% pre-payment penalty.

I also have the car insured via Ferrari - costs c 3.5k p.a. with 5k deductible. What I only realised (focused on) later on was that this also applies to the windshield (unusual imo), so when a stone hit mine, I was out of pocket by more than 5k for a replacement (supposedly 11 hours of work or something ridiculous like that).

re cost of ownership, up until now I got it serviced at Ferrari, but decided that this was the last year. My dealer now increased their hourly rate to c 240 Euros and the normal service cost 4.3k this year [after I paid c 13k last year for new manifolds and a new exhaust]. It is getting ridiculous, so I will look for a different solution going forward. Of course while you are with FFS, I don't think you have that option.

The cars are great and really come alive on track. The gearbox is so much more fun than a DCT and the way it shifts under load is quite something. I recommend you change the geo as the car has a tendency to understeer given the relatively narrow front tyres (I also changed to Cup 2 from the Corsas).

Good luck

[ANOpax]

MDL111 said:

I don't mind, but it has been a while (October 2017) so can't remember exactly. I think it was approx: purchase price 150k, balloon after 3 year high 80s (I want to say 87), interest rate c 3.9%, downpayment 30k. Unfortunately my emails don't go back far enough, so I can't look it up. I paid it back early and paid 0.50% pre-payment penalty.

I also have the car insured via Ferrari - costs c 3.5k p.a. with 5k deductible. What I only realised (focused on) later on was that this also applies to the windshield (unusual imo), so when a stone hit mine, I was out of pocket by more than 5k for a replacement (supposedly 11 hours of work or something ridiculous like that).

re cost of ownership, up until now I got it serviced at Ferrari, but decided that this was the last year. My dealer now increased their hourly rate to c 240 Euros and the normal service cost 4.3k this year [after I paid c 13k last year for new manifolds and a new exhaust]. It is getting ridiculous, so I will look for a different solution going forward. Of course while you are with FFS, I don't think you have that option.

The cars are great and really come alive on track. The gearbox is so much more fun than a DCT and the way it shifts under load is quite something. I recommend you change the geo as the car has a tendency to understeer given the relatively narrow front tyres (I also changed to Cup 2 from the Corsas).

Good luck

Ouch, your insurance is painful. I'm paying 1%-1.3% of agreed value on my cars with a €500 deductible, 10k km annual mileage limit and protected no-claims.

[MDL111]

ANOpax said:

MDL111 said:

I don't mind, but it has been a while (October 2017) so can't remember exactly. I think it was approx: purchase price 150k, balloon after 3 year high 80s (I want to say 87), interest rate c 3.9%, downpayment 30k. Unfortunately my emails don't go back far enough, so I can't look it up. I paid it back early and paid 0.50% pre-payment penalty.

I also have the car insured via Ferrari - costs c 3.5k p.a. with 5k deductible. What I only realised (focused on) later on was that this also applies to the windshield (unusual imo), so when a stone hit mine, I was out of pocket by more than 5k for a replacement (supposedly 11 hours of work or something ridiculous like that).

re cost of ownership, up until now I got it serviced at Ferrari, but decided that this was the last year. My dealer now increased their hourly rate to c 240 Euros and the normal service cost 4.3k this year [after I paid c 13k last year for new manifolds and a new exhaust]. It is getting ridiculous, so I will look for a different solution going forward. Of course while you are with FFS, I don't think you have that option.

The cars are great and really come alive on track. The gearbox is so much more fun than a DCT and the way it shifts under load is quite something. I recommend you change the geo as the car has a tendency to understeer given the relatively narrow front tyres (I also changed to Cup 2 from the Corsas).

Good luck

Ouch, your insurance is painful. I'm paying 1%-1.3% of agreed value on my cars with a €500 deductible, 10k km annual mileage limit and protected no-claims.

I know - Germany - the FF was 5.6k every year until I finally switched it to third-party only this year (figured with what I paid to insure and warranty it, I could have bought one by now ...). Even my Clio costs >1k Euros insurance. Doesn't help if you haven't lived in the country for long and therefore have less than a decade of no claims to use. Also no group policies in Germany as I understand it (at least I have not found one), so each car insured individually.

[kbf1981]

MDL111 said:

I don't mind, but it has been a while (October 2017) so can't remember exactly. I think it was approx: purchase price 150k, balloon after 3 year high 80s (I want to say 87), interest rate c 3.9%, downpayment 30k. Unfortunately my emails don't go back far enough, so I can't look it up. I paid it back early and paid 0.50% pre-payment penalty.
Good luck

Thank you.

Yes we're moving to a bigger house this year with more car space this year - so I was looking again. I used to have an F430 that was very fun and the 430 Scud was a dream car at the time, so it'd be nice to have one now. I probably (like most), won't get a lot of time to drive it, but given the low depreciation it doesn't really matter. We'd probably do the odd weekend in it, and maybe some road trips into Europe.

They sound amazing - the F430 sounded amazing, and the 430 Scud sounds even better imo.

[leemanning]

kbf1981 said:

Brilliant, if you don't mind saying (no worries if you do), what sort of % do they put on the balloon value? Scud's don't seem to have moved in years, so the real cost of ownership must be pretty good value tbh.

The V8 models typically had balloons set around 50-55% after 3 years, the V12's were about 40% of the purchase price. Not sure if it's different for one of the snazzier models like a Scud though