Ferrari (NYSE:RACE) ownership is different from anything else in the automotive world. There are strict rules when buying a new Ferrari.
The Ferrari buying experience is unlike any other car buying experience. You do not walk into a dealership with hundreds of thousands of dollars in your account, pick 1, and drive off in 1 of the Maranello Outfit’s cars. If it is a Limited Edition series car you fancy, things get even more complicated.
Ferrari ownership is strictly controlled by Ferrari, from the moment you do decide on buying a car to that in which, already in possession of it, you must make considerations to purchase a 2nd 1.
“You do not choose Ferrari, Ferrari chooses you. And usually, you feel lucky to be part of the few.” Getting to enjoy the Tops in auto technology is regulated by a strict set of rules.
The nature of these rules is inferred from fine print on bill of sale and the ritual that accompanies the release of Limited Edition Supercars.
Below are some of Ferrari’s rules all new and old owners must abide without exception, as follows:.
Thorough background check
While most dealerships will run a credit check on you to make sure you can afford payments on the car you are about to take from them, Ferrari goes beyond that. Rumor has it that men over 40 anni are preferred, with no history of incidents and with a good reputation. Because just having money does not make you good enough to be seen at the wheel of a Ferrari.
No selling in the 1st year, no selling without notice
Ferrari likes to maintain control over its cars even after selling them, and it does that by either barring the owner from selling in the 1st year or forcing them to inform the marque before selling. Both options are made to discourage owners from flipping cars for profit, which would be considerable in the case of Limited Editions, and to get them to actually drive the cars. Ferrari likes to have the option of taking back the car, should the new owner want to part with it.
The Ferrari and Lamborghini rivalry goes way back. If reports are accurate, Ferrari bars car collectors who happen to have at least Lamborghini from getting on VIP lists for its Limited Edition cars, no matter how many Ferraris they have bought.
Do not cover the badge, do no drastic alterations
Each car Ferrari delivers or sells is perfect as-is. If you are a VIP clienti, you can visit the factory in Maranello and get every thing about your next car customized to your liking, Ferrari frowns upon modifications that stand out.
If you do get to own a Ferrari, you are not allowed to tamper with the engine, do bodywork modifications, crazy paint jobs, no pink, rose or salmon are allowed, or do anything that covers the Ferrari badge. On the same note of “not tampering,” all maintenance work and repairs has to go through Ferrari, be done with Ferrari parts or the warranty will be voided. And you will mostly likely land yourself on the Blacklist.
Visit the factory at Maranello
In the case of tailor made Ferraris, having a high profile works to your advantage. As long as you are not an influencer or some popular but highly criticized reality star, you are welcome to visit the Maranello factory and pick your favorite, meet with the engineers and get the Ferrari of your dreams.
However, neither being a celebrity nor visiting the factory will help you get on the VIP list for Limited Editions.
Become a part of the family and act like it. Also, buy more Ferraris
Buying your 1st Ferrari is just the beginning. Enzo Ferrari said, “the perfect model is always the next 1”, and this also applies to Ferrari ownership. Once you become part of La Familia, you will receive invites to Ferrari events and gatherings you would not otherwise have access to, and you are expected to show up, mingle and act a true Ferrarista.
At the same time, you are expected to buy more than 1 car. To even be considered as a potential VIP client, you must own at least 4.
Do not be too flashy, do not criticize Ferrari
Another sure way to get yourself in the crosshairs with Ferrari is to speak against the marque, even if you are right. Automotive journalist Chris Harris did it, as did rapper 50 Cent, and they had legitimate reasons to do so, and they ended up on the Ferrari Blacklist.
The same goes for being too flashy. Do anything that goes against the unwritten Ferrari code, be it with your driving history or the way you present yourself on social media, and you will get banned from buying another Ferrari and be served with a cease and desist letter
Getting on the VIP list
While getting a standard Ferrari is difficult, getting a Limited Edition car is nearly impossible for regular folks. These rare Supercars usually sell out before the public even learns of their existence, and getting on a waiting list is the kind of process is difficult.
Ferrari decides who gets a new car and it does not have to justify its decision.
Ferrari appeal to the elites, despite the rules, the controlling ways, the bans and the lack of transparency in the entire pre and post-ownership process.
I have been driving them since Y 1967.
Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Very Bullish, there is no overhead resistance, and Key support is solid at 171.39, the stock has established strong long term support. The MACD is Very Bullish in here.
Ferrari finished at 179.21, +1.54 Wednesday in NY.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term and siding with BAML to 230 long term for now.