Condition of Economy - Will it be a buyers market F430?

I doubt the "Super Wealthy" would be forced to sell in this kind of economy anyway, but there might be a chance they just want something new.

 

My dealer told me for every one person that calls to buy a car 6 calls are from people trying to sell a car. People are trying to unload 550's, 575's, and a TON of 360's. He said the used 430 market is getting softer every week.

 

Agreed - however, my point to the original poster was getting a "deal" usually results form someone needing to sell rather than choosing to sell. These days, showrooms and media are flooded with cars of all types because things did not go as planned. Best

 

Checked a ton of dealers and can't find a single new Ferrari in the USA priced at MSRP
Says alot to me.
Eric

 

Very unlikely.

 

I would not mind if Ferrari's dropped to MSRP or below.
Let's see:
I want a SCUD, 599 or a California for my wife.
I'll upgrade to a new 2008 430.
Bring it on.
Eric

 

i know of a 2007 F430 F1 spider 300miles asking $279, who's interested

 

well the only ones that can be obtained at msrp are 612 scag

 

Not me if the MSRP was $217
I would say that might be overpriced.
Eric

 

Miles?

 

I would be nervous about buying from the type of person you described. If they are having financial difficulties, chances are all the required services have been neglected or ignored completely.

Better make sure all records are there and legit.

 

The world is full people lining up for these cars wake UP!!!!

 

I think that's what they don't get.So many people and so few (incredible) cars and that's why they get over list.
Millions of "potential" buyers and only thousands of cars.
I can tell you where to get a Bentley or Lambo brand new and below list right now.
I doubt we will see that with Ferrari.
Eric

 

If you want a 430 I would wait a few extra months. once the replacement is announced, you will likley be able to spec your own 430 at the end of the run at MSRP.

 

Interesting idea. It might work if you find the right dealer.

 

As the F430 is a mere entry level f car, and produced in record amounts (my guess is production numbers will be at least equal to the 360 generation), the F430 has plenty of depreciation left in them. I dont see one good reason why it shouldnt dip as low as the 360 or the 355 for that matter.

High production numbers coupled with rising gas cost (probably not a huge problem for any potential f car buyer) and the increasing eco stigma that exotics carry with them, will make highend cars less desirable and push the price down further. All one has to do is to search any major listing for ferraris, and its abundantly clear that there is a glutt of 360's and 430's that arent moving fast enough for any dealer to be comfortable.

Add an increasing lineup from ferrari and one can see an additional reason for further depreciation. As the California GT (F149) comes out alongside the F430 replacement, my guess is that the resale value for the entry level V8s never will be the same. Ferrari is increasing its market share just like porsche has done, which leads to decreased brand exclusivity, which in turn might lead to further depreciation of past models. After all, whats the fun in driving an exotic that everyone and their dogs have? In most major cities, nobody will bat an eyelash at a 997TT. I wouldnt be surprised if a "run of the mill" Ferrari will get the same treatment in a few years.

As far as the degree of wealth of F car owners go, Id say they are all over the spectrum. With so many ferraris on the used market, it's no longer a toy for the hyper, super or just regular wealthy anymore. In LA, anyone with decent credit can drive a $200 000 ferrari. That is the beauty of credit! Ray Johns will disagree and say that one can't afford a ferrari unless its paid in cash. However the vast majority of financed ferraris will prove otherwise.

On a more longterm note, which you (the OP) obviously dont have to concern yourself with, but collectors should give a thought to, is the fact that gasoline engine technology in all likelyhood will be replaced by something else, most likely something more eco friendly. The technology is already there for ethanol, electric and hydrogen engines. Most likely none of us on f chat know when they will be implenmented on a large scale. However, if that was to happen in lets say 20 years, who would want to keep their modena, F430 or even stradale or scud for that matter? By the way, its a well known fact that there is a "green" F430 spider out there.

Either way, Im getting way ahead of myself. For you (OP) just sit comfortably in the drivers seat and watch the market. IMO there, has never been a better time for a buyer, in the market for an exotic. Nobody has to play the "get on the list game" with authorized dealers anymore. With so much inventory in the hands of "used dealers" one can now get well sorted 05's for below msrp. If you are willing to wait another year, the lowest list would probably go down another $10K or so. As a buyer, the world is your oyster and you can do anything you want to do or at least buy anything you want to.

GL and have fun shopping. The acquisition process is alot of fun or at least it should be.

-Peter Oh

 

2012 will see early 430s selling for $125k..........Already see several with $185k ask prices.

 

I disagree, they will sell for less than that.

-Peter Oh

 

Darn, you mean these things aren't investments? Get real, these cars are toys. Just enjoy your car and take your hit. If you can afford one, buy one. Staying on the sidelines waiting for this or that probably means you will never have one. They will always be too costly or liable to depreciate.

 

+1000

Want to drive the most comfortable fun car on the planet? Buy a Bentley but figure it to be the worst depreciating car on the planet.Like $35,000 a year for the first 2 to 3 years.
I want to be buried in one
Eric

 

If it's Arnage then the hit is more like a $100k in first year,my wife's '07 Spur with Mulliner pkge (MSRP $195k) was just appraised at $120k as a trade for new Conti Speed.

 

If you wanted to make the effort to figure out where F430 prices are going in a recession-type economic environment you probably could. This contraction is worse than the 2001 situation, but you could look at how the 360 went down, plotting the graph, and see how it looks.

Although the 360 was a newer model at the time and some of the variable would be different it would probably be instructive.

That being said, people making $300K a year can afford a recent Ferrari but are not 'wealthy' or blithely rich. Maybe just comfortable and they are economically impacted by business cycles.

There are two markets for Ferraris, the mass produced models and the collector/super cars. The later are bought by people who really aren't impacted that much by business cycle swings. These values seem not to have suffered much or even gone up in some cases. The 'ultrahighnetworth' group is $30M or more in liquid assets, not including thier homes.

http://en.wikipedia.org/wiki/High_net_worth_individual

Owners of mass produced cars who want to know what their car is worth should put it on the market and see what offers they get, in like a 90 day period for example. That is the value, and that value is dropping faster than it was a year ago for instance, across all non-exotic, non-super Ferraris.

Lastly, Ferraris market strategy is to race F1 and produce super cars occasionally for the sole purpose to burnish the brand image. Then they "mass produce" and sell cars at good margins to pay for that marketing. They make the most on the largest production, like the F430.

This is why they are launching the California. To sell a lot of cars. And this is also why they copied the old California so heavily. They are marketing monsters and will put the Cavallino on everything down to underwear to exploit the brand.

 

I have the Spur and my wife has the GT.
Traded my GT on the spur.
Same type hit.Never seen anything like it but don't really care because i just have to have them.Never driven anything like the Bentley.
Eric