DURBAN - FOR those with R3.5million to burn on a deliciously red supercar this December, the 2011 Ferrari 458 Italia could be the perfect present.
This specific gem could be a perfect gift for him. For her, the R4m Ferrari Spyder, which comes with a convertible roof.
Of course, these are the types of toys for people with deep pockets. In the week that the South African economy lost more than a R100bn through the Steinhoff scandal, there would still be potential suitors for the R3.5m Italian supercar, insists Lionel Pillay, executive sales manager at uMhlanga’s IBV Supercar Showroom.
He said despite the economic turbulence in past years, Durban has a blossoming used supercar market, claiming Durbanites who love expensive four-piped beasts are on a level with petrolheads in Joburg and Cape Town.
Asked who their typical customer was, Pillay said: “Up and coming entrepreneurs, directors, chief executives. Sometimes they are young, sometimes they are old.”
On display with the 438 Italia, there is a Jaguar F Type, which is slightly cheaper at about R1.1m and a BMW i8, which sells for around R1.7m. All three were on display at Gateway outside IBV’s closely guarded bank vaults.
“We are going to move to a bigger space opposite Gateway because the supercar market is thriving in Durban,” he said, adding that the hire market for luxurious cars such as Rolls-Royces was picking up.
Pillay says supercars are an investment, despite the exhorbitant monthly repayments a R3.5m car demands. He said the 438 Italia retailed for around R3m six years ago when released, but now sells for R500 000 more in the used car market.
Instalments would be around R50000 per month with a R350 000 deposit.
We used Standard Bank’s repayment calculator to see if a lowly paid chief executive could afford the car. We gave him a R100 000 deposit and interestwas calculated at 12.75% over six years. The instalment would be R67 804. This excludes insurance, service and maintenance costs.
That’s a lot of Va-Va-Voom.
“For the lady you can buy a Ferrari 458 Spyder, it’s the same car, but we know women like to drive with the roof down,” he said.
Last month, a video of a chubby man who was struggling to get out of a Lamborghini went viral on social media. But Pillay insists that is not an issue, saying the driver can weigh up to 150kgs or more and the car would not suffer.