GT2 w/ 104 miles
 

http://www.motorcars-intl.com/images_t/Cl_36101.jpg

147k

http://www.motorcars-intl.com/detail...set=36&id1=458

not a great deal. sub 1k mileage 02-03 gt2s are selling in the $130 to $140k range.

i bet that's one of the pair the guy in Ohio owns, that has been adv.g in autoweek for a year and a half... he'c coming down but the market stays ahead of him.

cash: figure 130 minus 10 for lipstick red which nobody wants... or a desparate buyer who needs financing pays more

Hey Watt, I sent you a PM here and at Ferrari Chat and don't know if you've gotten them.

I think that red is an awesome color worthy of a premium. It's a lot better some some of the bland colors that I see in malibu.

I agree. Just saw a Red GT3 at my dealer yesterday. Spectacular and you rarely see cars this clolor. Exclusive imo.

yes i keep seeing that bland blue gt2

ben i answered your pm on f....

hey watt.

i think that was the one of several days ago, but f... shows you haven't read the latest (of a couple days ago).

Ben: Without knowing the content of your PM, let me try to summarize Watt's response -- Watt loves his Stradale, now swears that Ferrari is one of the only true sports car manufacturers, thinks Porsche makes compromised, bland sports cars inconsistent with Porsche's founding heritage and will never own another Porsche (unless he can steal that red GT2 for $130K). :D Of course, this is coming from the same guy that gave me tremendous sh*t for owning a 360 -- I believe he referred to it as Italian thrash! I LOVE THE WATTSTER! hilarious

http://jackspictures.com/images/360%...0seats%202.jpg

LOL Jack, I really wish I lived up there close to you guys as yawl seem so damn entertaining. I am trying to take care of your boy Sean down here to keep him out of trouble but it's a tough job :-)

The latest questions to Watt were with regard to open ended leasing of an F-car (don't have any experience with open ended ones which vary greatly from closed ones). While I already made my decision and cut my deal, I was still curious if there was anything to be learned for next time.

BTW, with the exception of the GT line of P-cars, it's hard to argue with Watt.

"I believe he referred to it as Italian thrash!"

As have I!

Man, if I had an extra $130K laying around, that baby would be mine!

Congrats, Ben. I know you'll love the CS. I fell in love with it after my first test drive last November. Mine is on the truck from FNA as we speak -- hope they got it right this time. :)

As for Sean, he can, in deed, be trouble. LOL :D

IMHO, open ended leases for a Ferrari (ala Putnam and Premier) are really alternative purchase transactions conditioned upon you finding a buyer for you "leased" car. Lease it for 5 years, flip it in 2 and save some outrageous Cali sales tax. ;)

Hey Jack.

"this time"? What happened? How did you option the car?

Yep, I went with Putnam on the 5 with the intention of having it for 2. For some reason they were considerably less than Premier. Part of it was a $15k diff in residual! Taking the sales tax saved into consideration and assuming two year ownership, the rate works out to about 2.6% which seems a pretty easy post tax bogey to beat with the capital not tied up.

ben and Jack,

Could you provide some more details as to how an open end lease might work compared to a closed end lease?



Message to Watt,
We owners of red GT 2s refer to them as alpha male red, not lipstick red or pimp red for future reference. Thanks for your cooperation.

"Could you provide some more details as to how an open end lease might work compared to a closed end lease?"

The main diff in an open is that you keep both the up and downside vs. just the upside on a closed lease. If the car is worth less than residual (say because of diminished value from an accident), you eat it vs. the lease company. You still get the profit if it's worth more than residual and you sell it.