The Truth About Ferrari's Celebrity Bans
A Ferrari is more than a symbol of copious wealth: for many, it is a mark of pride and accomplishment, and for others, it is an inspiration for art. Whatever you see it as, owning a Ferrari is something that is unequivocally on almost everyone's list of dreams. However, as underlined by a string of recent events, owning a sports car made by the Italian automaker is trickier than you might think, even if you are a celebrity. The said series of events includes Ferrari barring notable celebs, including singer Justin Bieber and the Kardashian sisters, from buying specific models. Here's what went down.
Last week Spanish publication Marca reported that Ferrari had banned the Kardashians from buying a Ferrari despite their fame and prominence in Hollywood. The publication does not highlight a sound reason behind these restrictions; it notes this development puts the Kardashians on the same list as other celebrities, including Floyd Mayweather and Justin Bieber.
Ferrari places special conditions on ownership
More recently, Ferrari replied (via Marca) to the rumors and said it does not blacklist anyone from buying its cars but "reserves the right to decide on special editions." They can only purchase regular series models.
Unlike the Kardashians, there is a more apparent reason for the ban on Justin Bieber. The singer reportedly failed to comply with Ferrari's conditions with the Ferrari 458 Italia purchase.
Bieber flouted Ferrari's terms and modified his ride with a white paint job and white rims. Then, the singer reportedly flipped it through an auction within the first year of ownership. Ferrari requires owners not to make significant modifications to their cars or sell them off during the first year. Ferrari reportedly even has a clause in the ownership contract for certain cars that allows it to repurchase certain vehicles if they are put up for sale within the first 18 months of ownership.
Other celebrities barred from owning special edition Ferraris (as per Hot Cars) include DJ Deadmau5 for adding a custom vinyl to the rear bumper, and rapper Tyga for interrupted payments.
Buying a Ferrari is trickier than it sounds
Despite Ferrari's claims that it does not inhibit consumers from buying vehicles, Car Keys calls out the automaker's bias when it comes to selling its prized sports cars. According to the publication, the company often requires you to present proof and history of your ownership of other vehicles.
Even if you have owned a Ferrari in the past, that does not guarantee you will be able to buy a regular model, let alone special editions and exclusive models. To be able to buy a Ferrari, you must have years of rapport at a dealership, and any customer under the age of 40 is highly unlikely to be taken seriously by them. Even when your application gets through, a thorough background check is conducted to ensure you can sustain ownership.
Car Keys quotes retired racecar driver Preston Henn, who reportedly sued – but later dropped the suit against – Ferrari in 2016 for denying him the LaFerrari Aperta. Henn owns 18 Ferrari cars, and his collection includes an extremely rare (only-three-models-ever-made rare) 275 GTB/C 6885 Speciale model based on the F1 car driven by the racing legend Michael Schumacher.
Owning any sports car has its costs
While these restrictions on owning special edition Ferrari cars apply to certain celebrities, including the Kardashians, Floyd Mayweather, and Justin Beiber, Car Keys notes buying a sports car is never an easy affair. Whether you want the latest Bugatti, Lamborghini, or Porsche, you will be required to do more than produce a hefty advance deposit to even stand a chance at booking a vehicle for yourself.
Besides information about your history of car ownership, dealers can demand details such as your credit score and your bank balance. Although it is assumed that everyone buying a sports car is likely to have enough in their bank account to buy a supercar with payment in full, you could still get finance options, as per Car Keys. What is likely to be more challenging is getting insurance for the vehicle.
That is why certain affluent personalities such as web designer and avid Ferrari collector Bill Ceno and multimillionaire David Lee have been skirting around these restrictions by buying used Ferraris — even if they have to pay a higher premium.
This does not change the general opinion about this hostile attitude is that the cars' exclusivity helps the company build hype and bill it for twice — or thrice — the price of the regular variant. Nonetheless, the automaker does not seem to budge on reserving the right to sell its cars to the select few it wishes.