The Ins and Outs on How to Sell Your Ferrari - We Buy Exotics (2024)

Dealer Inspections

One of the more common bargaining tools in automotive purchases is a dealer inspection. This “unbiased” third party offers to certify the vehicle in question is legitimate, albeit for a fee. Buyers argue that a few hundred bucks upfront could save them from several thousand should the deal turn sour.

Several hundred dollars is exactly what you’ll be paying for a Ferrari dealership inspection. You’ll also need to schedule in advance to ensure availability. Note that while you can easily share your report with your interested buyer, any official documentation requires a separate charge equal to what you paid for the report.

Ferrari dealers do this largely in part because they can. They know that a nod of approval from their department could mean more to a Ferrari owner than just peace of mind.

Dealerships

Hooking a potential buyer through for-sale-by-owner ads is not a pastime for the weak. Some people prefer to work with a dealership instead, where the money to purchase a Ferrari like yours is typically in abundance.

The key to working with dealerships is knowing exactly what you want and having the confidence to walk out when you don’t get it. You can argue all day with a salesman that your Ferrari is worth more than they offer you, but until you’ve got a genuine offer in hand, it’s all for nothing.

Visiting luxury dealerships can potentially get you ahead. Many of the customers who frequent these dealerships have money, that is, the same money to potentially pay for your Ferrari. Whether or not the dealership has a buyer on the hook for a Ferrari like yours is a question only they can answer.

It’s common for a lot of folks to avoid dealerships, however, for the load of fees and add-ons that turn an affordable car into one that’s already broken the budget. If you want to get more for your Ferrari, chances are you’re better off avoiding both dealerships and selling your Ferrari private party.

Online Automotive Retailers

Much of car buying has now become an online game, where online retailers work directly with customers to purchase and sell cars. If you’re a Ferrari owner, not having to visit a dealership or meet with potentially sketchy third parties can be a godsend. An online retailer can simplify the entire process.

However, popular automotive retailers such as Carvana and Vroom aren’t necessarily any more equipped to purchase your Ferrari than a Honda brick-and-mortar dealership would be. These types of dealerships typically prosper from sales of run-of-the-mill cars like Toyotas and Nissans. A Ferrari in the mix isn’t unheard of, it’s just not ideal.

Chances are, there aren’t too many people who say, “I’m going to buy my Ferrari online.” Most Ferrari people aren’t necessarily those who frequent online automotive retailers. Instead, they’re looking for an authoritative source to get top-quality goods like your supercar.

That’s where exotic/supercar car retailers come in. For example, We Buy Exotics states our mission clearly in our name. Looking to sell your Ferrari for a fair price without all the hassle? We’ve got you covered.

How to Sell Your Ferrari for More

No matter how you approach it, selling your Ferrari just isn’t an easy thing to do. You’ve got to deal with the public, greedy dealerships, and capricious third-party individuals who often require more attention than the supercar you’re selling. Doesn’t that all sound completely exhausting?

At We Buy Exotics, we understand that selling your Ferrari is symbolic of a step forward, to bigger and better things to keep your momentum going. The deadweight of your Ferrari shouldn’t hold you back. You’re not stuck between playing the used car game or pulling out altogether.

Avoid the drama and submit your Ferrari’s details to us once. You’ll receive a no-obligation offer within minutes to minimize the effort you spend selling your Ferrari. (Plus, we don’t ask if you’ve ever gone 200+ miles in the car or driven it around the track a few times.)

Still unsure about our process? Save yourself plenty of time and agony by working with We Buy Exotics first. Give it a whirl to see what we can offer you for your Ferrari without all the hassle.

The Ins and Outs on How to Sell Your Ferrari - We Buy Exotics (2024)

FAQs

Are Ferraris hard to sell? ›

It can be just as difficult, perhaps even harder, to sell a Ferrari than purchase one. Automotive manufacturers produce several hundreds of thousands to millions of vehicles throughout their existence. Boutique manufacturers such as Lamborghini and Ferrari, however, may make only a few thousand models maximum.

Is it hard to sell exotic cars? ›

Privately selling your exotic vehicle is extremely difficult. It would be best if you did extensive research on the right price for your car, promote your car through exotic listings ( all of which cost a fee ), and masterfully negotiate the price – potentially with someone more established in the luxury vehicle world.

Can Ferrari refuse to sell you a car? ›

If you win the Powerball tomorrow, you can buy the Lamborghini, McLaren or Bentley of your choice, but not a Ferrari. That's because Ferrari, like Rolex, handpicks buyers of its new products.

Can you privately sell a Ferrari? ›

In most cases, yes, you are legally allowed to resell a Ferrari you own. There are usually no contractual restrictions from Ferrari preventing you from doing so. However, the brand does have a somewhat unspoken understanding with its clientele.

Why can't you resell a Ferrari? ›

You cannot sell your new Ferrari in the first year of ownership. It is in the contract. The purpose is to dissuade flippers. If you must, the dealership will buy it back in the first year for the price you paid.

Which Ferrari holds its value best? ›

One of the appealing aspects of the Ferrari 488 is its value retention. While it does depreciate, the rate is slower compared to many other high-end sports cars. This slower depreciation is partly due to the Ferrari brand's prestige and the 488's popularity among enthusiasts.

Can you daily drive an exotic car? ›

Exotic Cars Comfort and Luxury

The suspension systems of top-notch daily driver exotics are designed to absorb road imperfections, resulting in a smooth and enjoyable ride. These cars strike the perfect balance between performance and comfort, making them ideal for long commutes or weekend getaways.

Is an exotic car worth it? ›

They are a Good Investment

One of the big selling points of owning an exotic is that only so many are made. The more unique your exotic is, the more likely it is to increase in value. In some cases, the value increases significantly. Investing in a used exotic can prove to be a very lucrative investment.

What state is best to own exotic car? ›

So, here they are, by state, which areas have a higher incidence of exotic car purchases and registrations.
  • California. Californians love their exotics! ...
  • New York. ...
  • New Jersey and Connecticut. ...
  • Pennsylvania. ...
  • Virginia. ...
  • Nevada. ...
  • Missouri. ...
  • Georgia and Texas.

Why can't Ferrari employees own a Ferrari? ›

It is part of the brand's strategy to create exclusivity in the cars they produce and to give more value to their loyal customers. Ferrari is a company that has always had a higher demand than availability for its cars, and that is what makes it the most exclusive automotive brand in the world.

Can Ferrari sue you for modifying your car? ›

Ferrari can sue you if you use your car with malicious intent. Yes, it's actually true. Two high-profile recent court cases are about exactly that.

Who are not allowed to buy Ferrari? ›

However, there are a handful of celebrities who have fallen foul of Maranello's guidelines and are no longer welcome to buy a Ferrari.
  • Justin Bieber. ...
  • Floyd Mayweather. ...
  • Kim Kardashian.
Jan 17, 2023

What is the Ferrari right of first refusal? ›

A right of first refusal is a contractual right giving its holder the option to match or refuse an offer on an asset before the owner can sell it. The ROFR assures the holder that they will not lose their rights to an asset if others express interest.

Can Ferrari sue customers? ›

TLDR: Ferrari is very picky about who buys and owns its cars and will sue you if you mess with them.

How long do you have to own a Ferrari before you can sell it? ›

Ferrari either prohibits owners from selling them during the initial year of ownership or asks them to inform Ferrari before selling. There's a method to Ferrari's madness. These regulations are set up to deter the profiteering resale of exclusive cars and motivate those who own them to drive them.

Do Ferraris hold their value? ›

It is highly unlikely that a car will rapidly appreciate in value. It often takes decades. While it is rare for a Ferrari to depreciate in value substantially, they do depreciate, and there are cases where the values of certain models have more than halved over the decades.

Is Ferrari losing popularity? ›

Ferrari sales in the U.S. decreased by 2.3% in the first quarter of 2023, to 1,227 vehicles. This was due to the ongoing chip shortage and rising inflation. Overall, Ferrari is performing well in the United States. The brand is seeing declining sales due to the chip shortage and rising inflation.

How rich is the average Ferrari owner? ›

Most Ferrari owners have an annual household income close to one million dollars per year, or more. Though there are some outliers making between $500,000 and $1,000,000 per year who still manage to afford this luxury vehicle. The vast majority of individuals who own a Ferrari are male, at a staggering 98%.

Why doesn't Ferrari sell to everyone? ›

And Ferrari does precisely that. It doesn't just sell cars — It sells a brand; a way of life. It vets out all potential buyers to see if they'll be adequate brand ambassadors, so it takes more than money to get your hands on the wheel of a famous "Rosso Corsa" Ferrari.

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