How much money do you need to have to afford a Ferrari?

tl;dr version: Your annual income needs to be around $322,000 to be able to afford this car and live a reasonably good life otherwise.

What is the average income of a Ferrari owner?

Average Ferrari owners make about $500,000 annually and have a net worth of $5 million. Considering the number of people who buy Ferraris when they really shouldn’t, you should treat the average as more of a minimum. So if you aren’t worth at least 5 million and making half a million every year, don’t get a Ferrari.

Who is the target market for Ferrari?

Ferrari uses demographic and psychographic segmentation strategies. Ferrari uses selective targeting since the company doesn’t want everyone to own the brand and so, therefore, it does a background check and its target customers are the famous personalities, celebrities globally.

What is it like to buy a Ferrari?

The Ferrari buying experience is unlike a regular car buying experience. You don’t just walk into a dealership, hundreds of thousands of dollars (or more) in your account or wallet, and drive off in one of the marque’s cars. If we’re talking about a limited edition series, things tend to get even more complicated.

Does Ferrari run credit checks when buying a car?

While most dealerships will run a credit check on you to make sure you can afford payments on the car you’re about to take from them, Ferrari goes beyond that. Rumor has it that men over 40 are preferred, with no history of incidents and with a good reputation.

Does Ferrari buy back unwanted cars?

While owners of Ferrari cars are told to let the company know when they are selling their vehicles or are banned from selling limited edition vehicles entirely within the first year, Ferrari won’t always buy back those cars.

Does owning a Ferrari guarantee limited edition ownership?

Even owning several Ferraris already, or even having your name on the waiting list doesn’t guarantee limited edition ownership. Ferrari doesn’t believe the customer is always right. Instead, Ferrari will always have the right to choose who’s allowed to drive their special editions.