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Offset Ferrari Superfast Is Only Mildly Fast ... I Swear, Deputy!!!

Offset plus a new bright red Ferrari on the streets of L.A. has to add up to a run-in with cops and a big fat ticket, right? Well, that equation is half right.

Law enforcement sources tell TMZ the Migos rapper was pulled over Monday in WeHo by sheriff's deputies after they stopped him for speeding in a red Ferrari Superfast ... yes, that's the name of the model. Thing is, we're told he wasn't going much faster than the posted speed limit ... which is a paltry 35 MPH.

Our sources say Offset was cooperative, and ultimately he was let off with a warning after getting out of the vehicle and having a chat. The cop just told him to slow down a bit, and we're told they even hugged it out.

From the pics we got, it appears Offset was almost saying "My bad" on the scene. If he did ... the polite approach definitely worked.

Besides crushing his insurance premiums, a speeding ticket would've been a sort of christening. Offset just bought the Superfast last week to celebrate the Grammy nom he and Cardi B got for Best Rap Performance.

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Offset's gotta be happy this run-in didn't end as badly as his recent Atlanta-area traffic stop, during which he was slapped with 3 violations ... one of 'em he ultimately beat in court.

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