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Ferrari configurator lets you play 458 Speciale customer

We all wish we had an extra $300,000 just lying around that we could spend on a supercar. And if we did, we don't doubt that the Ferrari 458 Speciale would be near the top of our list. It's hard, after all, to argue with 600 naturally aspirated horsepower churning away right behind your seat. Unfortunately few of us have that kind of scratch. That's where online configurators come in.
While these web-based customization tools don't exactly let you drive off the lot in a six-figure supercar, they can at least let you pretend that you're the kind of person who would (or more pertinently, could) do just that. And Ferrari's latest is among the cooler ones we've seen.
Like most online configuration tools, Maranello's lets you choose the colors of the bodywork and which wheels you want, but also lets you choose brake calipers, racing stripes and all manner of carbon-fiber aero components. Step inside and the choices are even more extensive, from the size and shape of seats to the color of the tachometer.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.

Michael Schumacher's 2001 F1 car sells for $7.5m, nearly twice its estimate

Sotheby's auctioned one of Michael Schumacher's Formula 1 race cars this week, and it went for an impressive $7.5 million. When the auction house announced the car would be offered, it was estimating that it would go for around $4 million, making this a major success. The company also claims it's the most expensive modern era F1 car sold, though Sotheby's doesn't say what constitutes as "modern." It did sell for about twice what the last Schumacher F1 car sold through Sotheby's went for. That car was from the 2004 season and sold for just under $3.2 million. This particular car, an F2001 that, not surprisingly, was used during the 2001 F1 championship. It won two of the three races it participated in, and helped Schumacher win one of his 7 championships. It's in racing condition, and Ferrari will help with storage and transport for the car. The car's sale isn't just about a rich person getting a fancy collectable or toy though. Sotheby's notes that an undetermined portion of the proceeds will go to Michael Schumacher's charity, Keep Fighting. Among the charity's causes are road safety and head safety. The latter isn't surprising considering Schumacher's unfortunate skiing accident in 2013 that left him with a traumatic brain injury. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2001 Ferrari F2001 Image Credit: Sotheby's Celebrities Motorsports Ferrari Auctions Car Buying Racing Vehicles Performance michael schumacher RM Sotheby's sothebys