Ferrari 296 GTB Refinance Saves Client Over £600 a Month
Owning a Ferrari should be about enjoying the drive. But when an existing finance agreement no longer feels like the right fit, reviewing your options could make a meaningful difference.
At Approved Motor Finance, our Motor Finance Broker, Kerry Andrews, and Motor Credit Partner, Rosie-Kay Newbury, recently arranged £190,827 in refinancing for a client’s 2023 Ferrari 296 GTB. The result was a lower interest rate, a reduced final balloon payment and over £600 saved on monthly repayments.
Same Ferrari. A finance agreement better suited to its owner.
Reviewing the Existing Ferrari Finance Agreement
Our client had owned his Ferrari 296 GTB from new, having originally financed the vehicle through Ferrari finance.
Rather than changing the car, he wanted to explore whether a different finance arrangement could better suit his needs. The priority was to review the existing agreement and see what could be improved.
For a vehicle of this value, both the monthly repayments and the final balloon payment were important considerations.
The Solution: £190,827 in Ferrari Refinancing
Kerry and Rosie-Kay worked together to arrange a new finance agreement, with Kerry securing a significantly lower interest rate than the client’s existing arrangement.
The new agreement delivered improvements across three key areas:
A lower interest rate compared with the original agreement.
Over £600 less per month in repayments.
A reduced final balloon payment, lowering the amount due at the end of the agreement.
The client could continue enjoying his Ferrari while benefiting from a finance arrangement that better suited his requirements.
Keeping the Car, Improving the Finance
The Ferrari 296 GTB was already the car our client wanted. Refinancing allowed him to keep it while changing the financial commitment around it.
Saving over £600 each month made a substantial difference to his regular outgoings. Alongside the reduced final balloon payment, this gave him an improved agreement without needing to sell or replace the vehicle.
It is a clear example of why reviewing an existing supercar finance agreement can be worthwhile, even when there is no intention to change cars.
Could Your Vehicle Finance Be Worth Reviewing?
If you have had your finance agreement in place for a while, or feel your current interest rate is high, our team can help you explore your refinancing options.
At Approved Motor Finance, we arrange finance for prestige, performance and luxury vehicles, helping clients review their existing agreements as well as finance their next purchase.
To discuss refinancing your vehicle, call our team on 01908 429888 or get in touch for a personalised quote.
This case study reflects one client’s outcome. Refinancing results depend on individual circumstances and the terms of the existing and proposed agreements. Lower monthly repayments do not necessarily mean a lower total amount payable.
Comments