Price Drop. Keep or sell.

You've answered all of your own questions. Dealers are not generous. They are also more afraid of this recession than someone who owns a few cars. The recession together with the dollar's sorry state does not leave US dealers counting on a rosy few years, the ones able to keep their doors open that is. Do what you need to. If you like slightly used models you'll have your pick in the next 2 years.

 

Seems you put a lot of thought in this whole process.
I am a bit embarrassed to admit that I did not spend a second on it,just pre traded 599 for 430S with no regard to numbers or thought of better or worse resale on this or another.
If I lose or make money on these cars is irrelevant,all I want at this point is a Scuderia in my garage,especially after driving the thing in Canada when it totally blew my mind.
Sort of like that guy who completely loses his mind over a piece of ass and dumps his wife and his entire life in the process.

 

Well said. And don't be embarrassed at all - life is too short - if you can do it - but it NOW - every minute spend driving a Ferrari is awesome - every moment thinking about it without doing it is a waste.....

 

I don't agree. V12's have a notoriously bad habit of dropping like a stone and special model V8's don't. The discontinuation of the 360 Modena didn't hurt the Challenge Stradale's value at all.


Onno

 

+1---the 430S will not drop for a long while--While every 599 and 612 will start to plumment in a few years..

 

Very true.

 

+3. The 599 is a regular production model, which even for a v12 Ferrari means significant overall number of cars over a production run of many years. This results in depreciation. The CS and Scuderia, however, are models w/ a limited production extending over 18 mos. or so, hence the smaller overall number of cars. Moreover, there is a 4 year hiatus between the CS and Scud production, and presumably there will be another 4 year or so wait for the next super sporty street legal mid-engined Ferrari after the Scud run is done. All that increases the likelihood that a Scud will retain much better long term value than a 599. Remember this, in 1999 it was impossible to walk into any USA authorized Ferrari dealer and purschase a new 550 Maranello off the show room floor - they were all pre-sold to established customers. Used 550's in 1999 were still selling for $25K to $50K over MSRP. Soon after the depreciation started and now they are worth 35 to 50% of MSRP. I predict the same for the 599.

 

My '99 550's 2nd owner bought it for 40 over (it was a flipped car with delivery miles). I bought it for $109 in '05, a little over 5 years from original sale. Count me in if the 599s follow the pattern. I just would not pay over for the 599 when it was offered to me a while back. I'll wait and enjoy my other f-cars in the meantime...

Tim

 

Right on ab.


Speed racer,
if you must put that much thought into it and only focused on the financial end then you're over-extended.
Get out of the Fcar and trade your residual for a Yaris

 

MSRP for a 599 isn't 420. Reasonably equipped car is 350 range new. If you're not on Scud list now, you're dreaming if you want one for MSRP. If you bought 599 to make money, you're nuts. Great car, and they won't make any more profligate cars like this in future, an end of an era. May lose value, but not going to "drop like stone" like 612/Maranello. Sell it now, but you're deluded if you think itll be <300 even if economy continues to tank. 20 mil, 10 mil, WFC., only money. You can't afford it, shouldn't play in first place. Not harsh, just owned them for 30 years.

 

Agree with this. I'm probably not in your tax bracket, if you're paying cash for all these cars, but IMHO the depreciation on these modern mass-produced Ferraris (especially the V12s) is insane. I think the 575M is a stupendous car, available CPO, and you won't be losing six figures on depreciation. Also, to my eyes, it looks much better.

I hate buying new cars in general, though. Always feels like I'm taking it in the, er -- that is, on the chin.

Then there's the fly in the ointment -- the California will probably be the "it" Ferrari for a few years, which could make the older-style 430 and 599 less saleable. Whatever your opinion of the car, 5,000 of them are going to have some effect.

 

Did you go to the driving experience?

 

I look at the prices that are being asked for 599's still today and I am just STUNNED that ANYONE is paying the listed prices for these cars. We are talking cars with stickers (especially the earliest cars) that were well below $325k and places still want over $400k for that! To me that is just insane... I guess if you have the money and want the car bad enough you will pay whatever it takes!

J

 

Actually i am starting to see them in the 369 range.
Eric

 

Went in May and going back at end of August for Advanced.
My car is coming late October so I take every opportunity to get my hands on one(even if for couple days).

 

Doesn't hurt to have Sabrina there either

Late October...just enough time to get a tease by the car before it's stored for winter Let me know how the advanced course goes.

 

Car will not go into storage and ,like the 599 before,will be driven throughout the Winter on all days when the roads are clear of snow.

 

def a buyer's market right now, not good time to sell

 

Yes, they seem to be attainable at that -- Motorcars Int'l had one with an asking price near there last week. Still above sticker, though.

Longer term, the car lacks the wretched excess/rarity of the Enzo to sustain it as a collectible. It may have 15-20 years of depreciation coming up, like all Ferrari tourers

Monetarily, the F512M looks appealing as something that might hold value.