Financing Your Ferrari
Premier’s History with the Ferrari Marque
In 1997, a California physician fulfilled a dream to drive a vintage Ferrari, acquiring one of the marque’s most revered road cars, a 330 GTC, by leasing it through Premier Financial Services. That transaction helped shape a special connection between PFS and Ferrari connoisseurs grounded in a shared fondness for these great automobiles. Premier has since helped thousands of “Ferraristi” lease vintage, contemporary and ultra-exotic Ferraris.
From the beginning, PFS has lived up to its mission statement: “Premier’s specialty is serving clientele on their quest to obtain today’s finest examples of automotive engineering.”
Leasing a vintage Ferrari, which these days often comes with a seven-figure price tag, is perhaps the most financially savvy way to experience the allure that is so integral to the marque. The Ferrari mystique, though certainly cultivated by the company today, has never been a mere invention of marketing or “branding” strategists huddled in highly caffeinated New York or Los Angeles offices. It is, rather emphatically, something tangible, something with a life of its own.
Consider the very real reactions people have to seeing a Ferrari of any vintage. Delve into the history of Formula 1 or sports car racing. Marvel at the sea of red flags waving in the grandstands at a Formula 1 race. Visit a concours d’ elegance and look for the cars with the biggest crowds.
In all such instances, the Ferrari magic is something you can feel, something that transcends auction values. It emerged at the moment the first Ferrari race cars and road cars were built in the late 1940s. Making road cars, it has been told many times, was necessary to fund company founder Enzo Ferrari’s insatiable hunger for racing … and for victory. His fledgling company would get the first of its nine Le Mans victories in 1949. As Ferrari Grand Prix cars and sports cars took more and more checkered flags, the marque’s mystique attracted sports car aficionados of means throughout Europe and America.
Steadily Increasing Demand for Ferrari
Demand for the hand-built V12-powered road cars – with bodies designed by Pininfarina and construction in small batches – steadily increased. Among those on the client list were European royals and Hollywood stars, including Steve McQueen and James Coburn, both of whom had 250 GT California Spiders.
By the mid-1950s, Ferrari had begun a dynasty with the 250 GT. Within this series were luxurious and fast coupes and cabriolets with 3.0-liter V12 engines and wearing stunning Pininfarina-designed bodies. The 250 Competizione and 250 SWB (Short Wheelbase Berlinetta) appealed to professional and gentlemen racers, and the 250 series concluded on two of the sports car world’s highest-ever notes: the 250 GTO for the track and the sumptuous 250 GT Lusso for the road. (McQueen also had a Lusso.)
Ferrari became synonymous with race victories, with cars wearing the Prancing Horse winning Le Mans six times in a row from 1960-1965. Road car production picked up in the 1960s, but remained limited. Among the decade’s masterpieces were the 275 GTB and GTS and 330 GTC and GTS. Ferrari also fueled its aura with high-end cars like the sensational 400 Superamerica and 500 Superfast, built in excruciatingly small numbers and offered to specially selected buyers.
The V12 berlinettas reached a peak with the 1968-1973 365 GTB/4 Daytona, also available as a Spider. Ferrari moved on to mid-engine machines in the 1970s, a period when, yes, savvy marketing did play a role in stoking the mystique.
Ferrari Makes its Marque in the Media
Ferraris were still rare enough that many Americans had probably never seen one until a mustachioed actor Tom Selleck blazed through captivating Hawaiian vistas in a red 308 GTS on television’s “Magnum P.I.” in 1980. The 308 series launched a new family of mid-engine V8 Ferraris that has evolved through the screaming F430, sexy 458 Italia and now the new 488 GTB.
A few years later, Ferrari placed the wild 12-cylinder Testarossa on “Miami Vice.” And though the company had nothing to do with the 1986 hit film, “Ferris Bueller’s Day Off,” the movie did introduce the matchless design and performance of vintage Ferraris to a new audience, a few of whom, one could reasonably guess, eventually got the chance to drive such cars.
Although the 1961 Ferrari 250 GT California Spider that Bueller (played by Matthew Broderick) and his friends drove through Chicago was a fake — a movie prop car —such was the power of the Ferrari charisma that even that imposter brought $230,000 at auction in 2013.
As the young Mr. Bueller quipped in the film, “It is so choice. If you have the means, I highly recommend picking one up.”
With the California Spider’s rarity, “picking one up” is easier said than done these days, as the values have escalated in recent years. If Mr. Bueller had been familiar with Premier, perhaps he may have recommended leasing one.
Imagine having a partner that knows the auction market, knows the values and can even help with appraisals and logistics – and that stands ready with the funds needed to secure a once-in-a-lifetime car. PFS is that partner for many Ferrari connoisseurs who have expanded their collections using our services. In addition to leasing vintage Ferraris, at times in excess of $10 million in value, Premier has leased thousands of contemporary models priced more modestly.
Despite the marque’s fame among auto enthusiasts, those Hollywood portrayals undoubtedly deserve credit for introducing Ferrari to a much wider audience. Ferrari knew then — as it certainly demonstrates with its enormous merchandising program — that even those who cannot buy its cars can still be marque advocates.
Ferrari, at the Top of its Game
Today, Ferrari is at the top of its game, producing about 7,000 cars a year and selling to waiting lists globally. Though that’s perhaps 10 or more times the annual production in the mid-‘60s, Ferrari exclusivity and desirability remain undiminished.
Premier’s position in the industry — and particularly in the Ferrari market — makes it the ideal partner to finance your Prancing Horse. Its committed team of auto-enthusiasts can assist you in analyzing the economic and tax advantages of leasing versus traditional financing or a cash-purchase.
The relationship does not end with funding. PFS also helps clients by sharing expertise in resourcing appraisals, transportation, restoration services and much more by leveraging partnerships with world-class organizations.
Premier’s team supports and attends national events, assisting clients in financing the acquisition of vintage and contemporary Ferraris. Our experts have coordinated hundreds of auction bids and purchases at world-class auctions and provide reviews of the latest models as well as classics of the past.
Premier Ferrari Reviews:
Model Masterpiece: The Ferrari F60America
Model Perspective: The Ferrari 488
Model Perspective: 2015 Ferrari California T
Model Perspective: The Ferrari F12 Berlinetta
Model Perspective: The Ferrari FF
Vintage Corner: Ferrari 365 GTC, Best Test Drive of All Time
Vintage Corner: Ferrari 275 GTS
It is through this passion for Ferrari and other great marques that Premier has earned the distinction of being the nation’s leading lessor of exotic, vintage, highline and luxury motorcars. It’s simple; great customer service, transparent lease terms and options tailored to your needs.
To paraphrase a teen movie hero: “If you have the means, but wish to make the best use of your funds, we do recommend picking one up and leasing it through PFS.”
Here’s a sampling of Ferraris leased through Premier Financial Services:
Current & Contemporary Ferraris
Vintage & Classic Ferraris
|2015 California T||1948 166 Corsa Spyder|
|2015 488||1950 150|
|2014 F12berlinetta||1951 340 American Ghia|
|2012 FF||1954 375+ Speciale|
|2011 599 GTB 60 F1||1956 Europa|
|2010 458 Italia||1956 250 GT Tour De France|
|2009 F430 Scuderia 16M||1958 250 Cal Spyder|
|2009 599 GTB Fiorano||1959 250 LWB California|
|2008 612 Scaglietti||1962 250 GT SWB|
|2007 F430 F1 Spider||1963 250 GT Lusso|
|2005 575F Superamerica||1963 400 SA LWB Series II|
|2004 360 Stradale Challenge||1966 275 GTS|
|2003 Enzo||1966 500 Superfast|
|2002 456M||1967 275 GTB4|
|2001 550 Barchetta||1967 330 GTC|
|2000 360 F1 Spider||1969 512S|
|1999 360 Modena||1971 365 GTC/4|
|1997 550 Maranello||1972 246 GTS Dino|
|1995 F50||1973 365 GTB4|
|1995 355||1974 246 GTS|
|1991 Testarossa||1976 308 GTB|
|1990 F40||1978 512BB|
|1989 328 GTS Targa|
|1985 288 GTO|