How to Finance a Ferrari in the UK

Why People Finance a Ferrari

Ferrari is synonymous with prestige, performance, and Italian craftsmanship. For many UK drivers, owning a Ferrari is the realisation of a lifelong ambition, but with new models starting at around £175,000 and classic examples often commanding even higher prices, buying outright is a stretch for most.

This is where car finance steps in. Financing a Ferrari allows drivers to spread the substantial cost over several years. It’s not just about affordability—finance can also offer flexibility, letting you drive a newer or higher-spec model than a cash purchase might allow. Many Ferrari enthusiasts opt for Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements to preserve liquidity and manage monthly outgoings.

In short, financing isn’t just a practical choice—it’s often the key to unlocking Ferrari ownership.

Your Ferrari Car Finance Options Explained

The UK market offers several main ways to finance a Ferrari. Understanding these can help you choose the right path for your circumstances and priorities.

PCP (Personal Contract Purchase)

PCP is popular among Ferrari buyers, especially those who like to upgrade regularly. You pay an initial deposit, followed by fixed monthly payments over 2–4 years. At the end, you can either:

• Pay a large final balloon payment to keep the car

• Hand the car back with nothing more to pay (subject to mileage and condition)

• Part-exchange for another Ferrari

Pros: Lower monthly payments, flexibility at the end of term

Cons: Higher final payment to own, mileage limits apply

HP (Hire Purchase)

HP involves an initial deposit and fixed monthly payments, but at the end of the term (usually 2–5 years), you own the Ferrari outright—no balloon payment.

Pros: Simple structure, no mileage limits, full ownership at end

Cons: Higher monthly payments, less flexibility than PCP

Lease or PCH (Personal Contract Hire)

Leasing means you rent the Ferrari for a fixed period and hand it back at the end. It can make driving a Ferrari more attainable for those not concerned about ownership.

Pros: Lower commitment, no concerns about depreciation

Cons: You never own the car, mileage/condition restrictions

Personal Loan

Alternatively, you could take out an unsecured personal loan to fund the purchase and pay cash for the Ferrari. This route can provide flexibility, though personal loan rates may be higher for such large sums.

Summary Table of Options:

How to Get the Best Deal on a Ferrari

Finding competitive finance for a Ferrari requires careful preparation and a clear understanding of the market. Here are proven strategies for securing the best Ferrari car finance deals in the UK:

1. Compare Lenders & Online Brokers

Don’t settle for the dealer’s first offer. Specialist online brokers, like Kandoo, work with a panel of lenders to help you compare Ferrari PCP offers, HP rates, and more. This widens your options and can secure more favourable terms.

2. Check Your Credit Score

Ferrari finance typically requires a strong credit profile. Before applying, check your credit report for errors and take steps to improve your score if needed—settle debts, avoid missed payments, and register on the electoral roll.

3. Negotiate Dealer Finance

While main-dealer finance offers can be competitive, there is often room for negotiation—especially on new models or pre-registered Ferraris. Ask about deposit contributions, lower APR deals, or extras such as servicing.

4. Deposit Size Tips

A larger deposit can reduce your monthly payments and may improve your chances of approval. For prestige vehicles, a deposit of 20–30% is common. However, some lenders may accept less, especially if your credit is strong.

5. Timing Your Purchase

Dealers may have targets tied to quarterly or annual cycles. Consider shopping at the end of March, June, September, or December to take advantage of ‘end-of-quarter’ incentives. New plate releases in March and September can also prompt attractive finance promotions.

Key phrases to search:

• Best Ferrari car finance deals UK

• Compare Ferrari PCP offers

• Ferrari HP finance rates

Eligibility & Credit Check Tips

When applying for Ferrari finance, lenders assess several factors:

• Income & Employment: Stable, sufficient income to cover repayments

• Affordability: Your overall financial situation, including existing debts

• Credit File: Good credit history improves your chances; missed payments or CCJs may reduce them

• Deposit Amount: Higher deposits can offset risk for lenders

Reassurance for All Applicants:

Even if you have bad credit, Kandoo can help match you with lenders who may still approve your application. Each lender’s criteria are different—some specialist providers consider applicants with less-than-perfect histories, especially with a healthy deposit and secure employment.

Checking your eligibility before applying can reduce the risk of declined applications and unnecessary credit checks. Look for brokers who offer a ‘soft search’—this means checking rates and eligibility won’t impact your credit score.

Example Finance Scenarios

Let’s consider a typical scenario:

You’re buying a 3-year-old Ferrari Portofino for £160,000.

PCP Example

• Deposit: £32,000 (20%)

• Term: 36 months

• Representative APR: 8.9%

• Estimated Monthly Payment: £1,650

• Optional Final Payment: £90,000

HP Example

• Deposit: £32,000 (20%)

• Term: 60 months

• Representative APR: 8.5%

• Estimated Monthly Payment: £2,400

• Ownership: You own the car outright after the final payment

These figures are for illustration only. Actual rates and terms will vary depending on your profile and lender.

Common Questions About Ferrari Finance

Can I get 0% APR on a Ferrari?

0% APR offers are extremely rare on supercars like Ferrari, especially for used models. Occasionally, main dealers may run low-rate promotions on new stock, but expect higher rates in most cases.

Is it cheaper to lease or finance a Ferrari?

Leasing often has lower monthly outgoings, but you never own the car. Financing (via PCP or HP) usually costs more per month, but offers the option to own or build equity. For those planning long-term ownership, HP or PCP is usually more cost-effective.

Can I get Ferrari finance with bad credit?

It’s more challenging, but not impossible. Specialist lenders consider applicants with adverse credit, especially with a substantial deposit and stable income. Expect higher interest rates, but Kandoo can help you compare options.

Can I refinance my current Ferrari?

Yes, refinancing can help reduce your monthly payments or release equity if your vehicle’s value has risen. It’s wise to compare offers and check for early settlement fees before proceeding.

How long can I finance a Ferrari for?

Typical terms range from 24 to 60 months. Longer terms reduce monthly payments but may increase total interest paid.

Can I settle my Ferrari finance early?

Most agreements allow early settlement, though you may face a small fee. Check your agreement or ask your broker for clarification.

How Kandoo Can Help

At Kandoo, we work with a panel of trusted UK lenders to help you find the best Ferrari finance deals—quickly, securely, and with no impact on your credit score. Whether you’re considering PCP, HP, or another option, our expert team can guide you through the process and answer your questions at every stage.

Ready to put yourself behind the wheel of a Ferrari?

Compare Ferrari finance deals now →