The process of buying a Ferrari rather than the automobile itself is one of the most amazing aspects of having one. You would be foolish to believe that someone can simply go into a Ferrari showroom and buy a brand-new Ferrari. No matter what you have, you can’t just go out and buy a new Ferrari. Money, fame, power, or excellent looks are not important. So, these are some of the hurdles you must overcome in order to purchase a new Ferrari.
Many of these factors are never discussed, but they still exist. The dealer starts by looking for someone over 40. Ferrari wants its drivers to appear stable and as though they have something to lose. Most people over 40 fall into that category.
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Ferrari Won’t Sell You a New Model, Here’s Why
We have terrible news if you weren’t aware of it or were having problems entering a Ferrari dealership with a few hundred thousand dollars and expecting to leave in a brand-new vehicle. Ferrari won’t only offer you a brand-new car. No matter what you have or who you are, you cannot purchase a new Ferrari. Here’s why you can’t (although, there are a few exceptions to that last statement).
What about a Ferrari sale?
In the first year after purchase, Ferrari prohibits owners from selling new Ferraris. Additionally, sellers must let Ferrari know if they intend to sell their cars so that it can decide whether or not to buy them.
In order to regulate who owns these limited-edition vehicles, Ferrari will probably also incorporate conditions granting them the right to buy back limited-edition models if owners decide to sell them.
These sales limits are meant to deter individuals from purchasing Ferraris only with the intention of reselling them for a profit, which is particularly possible when the vehicle in question is a limited-edition model with low mileage. If Ferrari finds that a customer has violated the sales agreement, they will ban them from purchasing any new Ferraris in the future.
Thinking of purchasing a supercar like a Ferrari? It turns out that it’s not at all as simple as you might have thought.
Many people would put buying a fast and costly car at the top of their list of things to do if they won the lottery or received another large fortune. However, even while it would appear to be a simple task, it’s much easier said than done.
You see, automakers like Ferrari, who produce the most well-known sports cars in the world, make a huge deal out of the uniqueness of their vehicles. This implies that Ferrari must select you rather than you selecting a new Ferrari.
It is very much the definition of first-world issues, yet many Ferrari enthusiasts who could easily afford one of the brand’s cars can be left feeling resentful and ignored by the manufacturer. We’ve previously written about the little-known downsides of purchasing and owning a supercar.
Before letting buyers purchase one of its regular vehicles, Ferrari will frequently ask to examine a history of previous owners. If you’ve never had a Ferrari, your chances of driving away with a brand-new vehicle are small, and many dealers won’t consider dealing with anyone under the age of forty.
For Ferrari’s limited-edition models, it frequently doesn’t matter if you’ve had one Ferrari or 20, as web designer Bill Ceno, 55, discovered.
Despite owning four limited-edition Ferraris, all of which he purchased used and paid roughly twice the original sticker price for, Ceno admitted in an interview with the Wall Street Journal that he has long since accepted the fact that he won’t be purchasing the new LaFerrari Aperta, the hypercar’s convertible variant.
He gave no explanation when asked why, just saying he “can’t be bothered” and that he preferred buying secondhand automobiles over having to deal with the “politics” of getting a limited-edition Ferrari.
It’s not simple to obtain a vehicle like the LaFerrari Aperta; at the very least, you need to have a long history of working with a Ferrari dealer. Even if it will assist if you’re a superstar, it’s another negative mark against you if you’ve never gone to the Ferrari facility in Maranello.
Do you need to be invited to buy a Ferrari or can anyone buy one?
Ferrari produces some of the most exclusive automobiles on the market, and many people believe that you must be invited to possess one. We are frequently asked if a regular person can purchase a Ferrari or if you have to already possess one to get a new one.
The only restriction on who can buy a new Ferrari is their capacity to finance it. Ferrari does not discriminate in this regard. Because models are only produced in limited quantities, placing an order and deposit early enough to be included in the production run is necessary to purchase a new automobile.
That is true for the common models, but as you will discover, some models are only available to Ferrari’s most devoted clients! We’ll get to it, but let me first emphasize that you don’t have to already own a Ferrari to purchase a new one. One can be purchased by anyone, although availability is frequently the issue.
How much money is needed to purchase a Ferrari?
According to a German study done by Dr. Ferdinand Dudenhoffer, a director of Automobile-Center Automotive Research situated in Duisburg, Germany, Ferrari, an Italian luxury sports car founded by Enzo Ferrari in 1939, produces an average of $80,000 every vehicle sold.
With that kind of money, you could purchase a Tesla Model X for $79,500 or a Mercedes-Benz C-Class for $73,500.
The price of a single Ferrari can range from roughly $200,000 to over $300,000. (much, much more for classic models sold at auction or limited edition cars).
In contrast, Porsche makes an estimated $17,250 profit for every car, according to Bloomberg, and BMW, Audi, and Mercedes each make an average of about $10,500 per car, according to Motor Authority. Porsche’s cars sell for between $50,000 and $150,000, with modified and auctioned models fetching even higher prices.
In 2017, Ferrari sold roughly 8,400 vehicles, and its market value is currently over $22.6 billion. The sports car manufacturer shipped 8,398 vehicles in 2017 compared to 8,014 in 2016 (an increase of 5%); the low supply helps to maintain the high car prices. Ferrari’s net profit for the first quarter of this year was $178 million, a 19% rise (Porsche produced 246,000 vehicles last year, for instance, which is a 4 percent increase from 2016).
Ferrari unveiled the brand-new Portofino model in February. Ferrari’s California T is being replaced with the convertible, V8 GT sports vehicle, which retails for $215,000. Marchionne revealed to Bloomberg TV in April that Ferrari is testing a brand-new electric vehicle. The company’s first-ever SUV will be powered by the gasoline-battery hybrid technology.
What prerequisites exist to purchase a Ferrari?
To acquire a loan for a Ferrari, you would need to have at least 10 to 20 lacs saved up on the side. This might differ depending on the bank and the individual’s credit history.
Why is buying a Ferrari such a challenge?
Even though it seems relatively clear, the fact that the cost of owning a Ferrari makes it difficult doesn’t change the fact that it is true. Depending on the model, a basic Ferrari can cost anywhere from $180,000 and $450,000. Keep in mind that this doesn’t account for all the money you will have to spend on upkeep. If you take that into account, the price will probably be much higher.
This is due to Ferrari’s annual car production being somewhat small. In order to continue turning a profit every year, they must sell their sports vehicles at exorbitant prices. That is how they have been at the top for so long.
One of the Prancing Horse’s biggest selling features is exclusivity, so you’ll have to shell out a lot of money to get one.
Can I purchase a Ferrari without having had one previously?
A new Ferrari is more difficult to purchase than a regular automobile. For instance, you cannot simply enter a Ferrari showroom, choose a vehicle, and leave holding the keys to a brand-new vehicle. Instead, purchasing a Ferrari is a considerably longer and more challenging process. A year or more was sometimes required for new Ferrari owners to eventually get behind the wheel.
In the first place, Ferrari does not allow anyone to buy a new model. Every Ferrari is a one-of-a-kind work of art. As a result, Ferrari employees go to tremendous efforts to guarantee that only drivers who can properly appreciate this car will be able to possess one. This means that we take the time to thoroughly investigate everyone who is interested in buying a new model.
To ensure that all prospective customers can afford the automobile, the majority of dealerships will do a credit check on each of them. Ferrari wants to make sure that you can afford it, but they also want to know that you value the company’s products. Ferrari has a history of turning down sales to prominent public figures. Therefore, simply having enough money won’t get you one of these pricey cars. Instead, before being permitted to buy a new Ferrari, the majority of owners had already purchased a number of used Ferrari models.
How much does it cost to keep a Ferrari running?
What does it cost to maintain a Ferrari then? Although it can vary depending on the model and year, the typical annual Ferrari maintenance costs lie between $1,500 and $2,000 on average.
Which age group purchases Ferraris?
The 458 Italia has just been crowned the 2011 “Car of the Year” by Robb Report. Sales increased 5.4 percent last year, and Ferrari delivered its most ever 6,573 cars to dealers. Also noteworthy is the 7.9% increase in net revenues, which reached 1.919 billion Euros ($2.6 billion). Gains increased by 15.8% to 630.8 million euros.
Why all the achievement? Of course there will be exciting items, says Marco Mattiacci, CEO of Ferrari North America. But in order to make money, you need more than just cool automobiles; you also need reputation, tradition, and fantasy.
For instance, Ferrari dealerships hold Formula One race viewing parties on Sunday mornings and only Ferrari owners are eligible for the company’s special driving challenges and racing schools. 32,000 Ferrari owners in North America, according to Mattiacci, are known to his dealers by name.
He explained to me that since “we don’t sell vehicles, we sell dreams,” we must provide a whole shopping experience for our clients. “It’s a 24/7 relationship. You share your enthusiasm with peers. And this has been recognized by our clients.”
Recognizing demographics is also very important. In North America, the average age of a Ferrari buyer is 47 (in China, it’s closer to 32); 45% of them are business owners, and 45% have an MBA or PhD.
Mattiacci declares, “We don’t do PR or advertising. “We really believe word-of-mouth is crucial when you are in this kind of segment. We put our resources in making sure that when the consumer eventually buys the automobile, he talks to his colleagues, to his friends, in a very positive way about our product.”
Ferrari created the California in part because of this attention to detail. The fact that 70% of California customers were first-time Ferrari owners was criticized by some observers as being too accessible to the general public, although Mattiacci claims the brand intended it that way.
Because we introduced a less expensive product to the market—the California is a $200,000 car—we failed to attract those people, he claims. We were aware that there were chances in the market for consumers who were unhappy with the service, the product’s quality, or both from our rivals.
With 2+2 seating, a dual clutch, a retractable hardtop, direct injection, and paddle shifters, it is undoubtedly a more adaptable vehicle. And it served as a precursor to the FF, Ferrari’s first-ever four-wheel-drive coupe that will go into production in 2012.
The offering of a four-door sports coupe would be the logical next step in completing a full line of automobiles. In addition to Porsche, Maserati, and Aston Martin, Bugatti will shortly follow suit. Although Mattiacci won’t totally rule it out, he claims that Ferrari is now concentrating on hybrid technology and the introduction of the 650-horsepower FF.
If you’re serious, all this new technology necessitates a substantial investment, he claims. We are working extremely hard to create something distinctive since we cannot deliver a compromise.