It’s a good idea to look at other lending options before choosing Ferrari Financial Services, even if you intend to do so, to ensure you are getting the best offer possible.
Compare the APRs and terms offered by a few lenders before applying through Ferrari Financial Services. Even better, obtain a free financing pre-approval so that you may contrast it with the offer Ferrari makes to you.
Call your authorized Ferrari dealer at 201-816-2670 to apply for Ferrari finance or for assistance with FerrariSelect or FerrariDirect.
In This Article...
Getting Your Dream Ferrari Funded
The fact that there are many ways to pay for your dream Ferrari is something that many people are unaware of. It is frequently believed that in order to make your goal of owning a Ferrari a reality, you must have a net worth of seven or eight figures and be willing to wire the entire cost in cash. Fortunately, this supposition is unfounded. When trying to finance a Ferrari or any other exotic car in the modern world, there are a ton of fantastic options to consider. The possibility of owning a Ferrari is far closer than most people realize, thanks to loan terms of up to 144 months and lease choices that are specifically designed for you.
choose the appropriate loan term
The appropriate loan term that best fits your budget is the next factor to take into account. However, some exotic-vehicle lenders like Woodside Credit offer extremely long loan terms of up to 120 or even 144 months. Most automobile loans, both new and used, have loan periods up to 60, 72, or even 84 months. Although that is a very long period to pay off a car, if you intend to retain your dream vehicle forever or even sell it in the middle, taking out a long-term loan may at least result in cheaper and more manageable monthly payments. Choose whatever fits your budget the best.
financing for vintage cars
*$3,282.61 per month based on $449,000 purchase price with 20% down and 7.27% APR financing for 180 months. 72 months of standard bank monthly payments at 5.5% APR. Rates and conditions are flexible. Additionally, TT&L may be financed. Not every application will be accepted.
*$509.17 per month based on a $50,000 purchase price with 15% down and 7.71% APR loan for 120 months. Based on a $145,000.00 purchase price, 20% down payment, and 7.32% APR finance for 144 months, the monthly payment is $1,212.55. Based on a $200,000.00 purchase price, 20% down payment, and 7.29% APR loan for 180 months, the monthly payment would be $1,464.19 each month. 72 months of standard bank monthly payments at 5.5% APR. Rates and conditions are flexible. Additionally, TT&L may be financed. Not every application will be accepted.
How is a vintage Ferrari financed?
Ferraris are expensive, therefore getting one will require a luxury auto loan. While this restricts the types of lenders you can work with, you’ll discover that because of the worth of your car, interest rates are typically lower than with conventional car loans. You can also look through personal loans that are backed by a savings or investment account. These also frequently offer reasonable rates, but if you intend to use the money to buy a Ferrari, your lender might have additional conditions.
In addition to these two choices, you may also directly purchase or lease your vehicle through Ferrari Financial Services:
- Ferrari Financial Services financing. Ferrari Financial Services offers an option with a balloon payment in addition to conventional auto loans. This has a small monthly payment with a higher payment due at the conclusion of the loan period.
- Ferrari Financial Services leasing. Ferrari leases can last anything from 13 months to 5 years. You have a choice of an open- or close-ended lease and a variety of mileage options.
The rates and terms you qualify for will rely on your credit history and individual financial position, just like with any sort of loan.
How much cash is required to purchase a Ferrari?
20% down payment is typically required when financing a vehicle. That would be $54,856 or 20% of $274,280. To arrive at $219,424, deduct that from the sales price. Suppose you wish to spread out this payment over 60 months at a rate of 2.99%.
Does Ferrari provide credit?
In order to make it easier for customers to buy or lease any type of Ferrari—from the current lineup of new models to previously owned vehicles all the way up to Formula 1 single-seaters and Classiche, Vintage Ferrari—Ferrari Financial Services provides customers with a wide range of individualized, flexible financial programs. Ad-hoc financial services are made available by FFS thanks to instant access to current market dynamics and special industrial resources that are otherwise difficult to obtain through conventional channels.
Leasing a Ferrari has never been simpler or more intelligent thanks to Ferrari Financial Services. Depending on your driving preferences, lease lengths range from 13 to 60 months and offer different mileage possibilities.
Retail installment plans, whether standard or balloon, are created to make buying a Ferrari a reality. Anyone who wants to enjoy the unmatched feeling of Ferrari ownership without incurring major out-of-pocket costs at the time of purchase should choose this option. Our specialized programs, whether financing a new or used Ferrari, are made to go with cars that hold their value and collectability throughout time, regardless of cost or model year.
Vintage Ferrari automobile enthusiasts can get a tailored line of credit through FerrariSelect, which was created with the serious collector in mind. It is intended for Ferrari owners who are interested in making use of the equity in their collection of Ferraris, whether their objective is to add to their existing collection of vintage Ferraris or just to have cash for other business endeavors. The minimum credit line is $500,000, and the maximum line is determined by the value of each individual collection.
In order to give collectors a special financing alternative, FerrariDirect was created. It offers flexible contract terms, aggressive financing rates, and loans without origination or early termination penalties.
Ferrari Financial Services must evaluate and approve all applications filed.
How much does owning a Ferrari cost on an annual basis?
It is expensive! Total Cost for Two Years: $266,965 You will shell out about $300,000 over the course of your two-year tenure simply to park one car in your driveway that you can only use for 2,500 miles a year. The entire cost works up to $133,485 each year.
What alternatives are there to a Ferrari?
Ferrari has traditionally been the preferred brand for individuals seeking to buy historic cars with style. After all, a shining coat of rosso corsa is unrivaled in beauty.
The problem is that it’s also the obvious choice. A brief stroll through Knightsbridge will demonstrate that Ferraris are arguably the ultimate statement vehicles, from the exhilarating 308 to the legendary F40.
Not a fan of the Prancing Horse and the snobbery that goes along with it? There are other alternative methods to get your fix of performance and power in a svelte, fashionable body without the need for the insignia on the nose.
Here are six vintage Ferrari alternatives that will quickly make you forget that you ever gave an Enzo a second glance.
Which Ferrari is the most affordable?
The brand of supercars that is perhaps best known worldwide is Ferrari. This Italian carmaker has gained notoriety for its outstanding performance and domination in motorsports. In order to make their sports vehicles even more thrilling, Ferrari has started using turbocharging and electricity.
The Portofino is the least costly Ferrari currently on the market, yet no Ferrari can be classified as entry-level. The base price of this classy roadster is around $215,000 before options, and like any Ferrari, extras are available in abundance.
Most Expensive: The SF90 Stradale is a display of Ferrari’s performance prowess. Its hybridized twin-turbo V-8 produces close to 1,000 horsepower. The SF90 is considerably over $1 million in price, but you can’t just go into a dealer’s lot and purchase one. To add an SF90 to your collection of Prancing Horses, you must receive a personal invitation from Ferrari.
The most entertaining Ferrari to drive is impossible to choose, just as the preferred pizza variety. Nevertheless, we were in awe of the 812 Superfast. We won’t soon forget the 812 “Stoopidfast’s” V-12 song since emissions regulations cast doubt on the future of 12-cylinder engines.
As soon as a car is released, we want to test and rank as many of them as we can. We’ll rank new models as we periodically update our rankings and we might even change the scores for some models. Vehicles with insufficient testing data, however, are not scored.
Why can’t a Ferrari be modified?
Pop star Justin Bieber reportedly won’t be able to buy another new Ferrari after allegedly breaking the Italian company’s modification rules. The Prancing Horse disapproved of the Canadian singer’s decision to repaint his 2011 Ferrari F458 Italia electric blue and modify it with a Liberty Walk widebody kit, according to Milan-based tabloid Il Giornale.
The investigation found that the 28-year-old did not adhere to the moral standards for maintaining and operating vehicles. Ferrari automobiles are not subject to unauthorized alterations, and owners are not entitled to sell their vehicles without first notifying the business. Bieber sold the customized car at auction in 2017.
According to a story in the newspaper, Fabio Barone, director of the largest Ferrari drivers’ organization in the world, said: “A Ferrari is a work of art, therefore it’s appropriate the company communicates the message that it must be conserved.”
If the allegations are confirmed, Bieber will no longer be qualified to buy a brand-new Ferrari, although the Prancing Horse has not yet issued an official statement on the subject. If accurate, it wouldn’t have a significant impact on the singer’s style given that he owns high-end vehicles including a Lamborghini, Bugatti, Rolls-Royce, and Porsche.
Celebrities including reality TV star Kim Kardashian, singer 50 Cent, and Hollywood legend Nicolas Cage, who was forced to sell his Ferrari Enzo in 2003 due to bankruptcy, have all been blacklisted by Ferrari in the past.