Resale values on California...

No data, no answers yet. Who cares? Buy it, drive it, enjoy it. New cars are not investments, even Ferraris, except for those very few can afford (ie Enzo replacement). If you want an investment Ferrari, buy a 60s or 70s V12 or V6, but do not expect it be as troublefree or useful as a new California.

Taz
Terry Phillips

 

I think it's easy to see depreciation of $75,000-$100,000 nowadays, judging by the private party asking prices on late 360's and early 430's (presuming they actually sell for less). That car sold for considerably more than sticker just a few years back so many owners are taking quite a bath.

It's been said for years: Don't buy a Ferrari unless you can afford two!

 

For a new model, the Cali has been stellar in terms of reliability. I recall the early 360's were in the words of Arnold Schwartzenegger " a disaster"! He got an early car being who he is and had so many problems he got rid of it because of all the "teething problems".

Time will tell about how the Cali reliability holds up with time.

If you want less depreciation, then you need a model with very limited production.

And now the market for exotics is full of choices: Aston Martin, Audi, Porsche, Lamborghini, and Lexus.

Buy what you love and enjoy it.

Damn the torpedoes!

 

Maybe PA WOLFPACKER will chime in here. I believe he was looking at leasing a California from Ferrari Financial. MSRP was around $214K, 3 year lease, 3500 miles per year. Are you sitting down? Residual at the end of the lease was $94,700. So basically a 3 year old California with 10K miles loses over 100K. Yikes. I'm sure Ferrari Financial is taking worse case scenario to protect themselves.

 

Those numbers make sense ... Come buy mine in another 2 years ... It hopefully will have 28,000 miles on it by then but none of the rubber parts or seals will be screwed up because of sitting in a garage forever. I will be moving to a new one hopefully at that time, and who cares about depreciation.

 

Thats why they are known as luxury items

 

Def not a rational purchase! Still not sure why my DH said "yes" except that the stock market had finally recovered after its first unbelievable lows in '08 and he decided to have some fun instead

 

If you're worried about depreciation then don't do it. In Australia we pay more than double what you pay in the USA - our depreciation is less but the traffic police are positively anal. When all's said and done I just love driving the car and have done nearly 5,000km in the two months I've had it. Don't regret it all - already put my deposit down for the new version and will probably sell this one about 6 months before the new one is out.

Have fun & drive hard!!

David

 

This is a car I love and hope to own, but the prices are just too high right now. I think in the next 2-3 years, the price of the car will drop to the $150 to $175k range based on the milage, color, and options. Cars with more milage and limited options will be on the lower side of the spectrum. That is what I will be looking for.

Until then, I hope to add a nice 575 Maranello to my stable, and possibly trade it in towards the Cali.

AJ

 

my maser was worth about 55% of its original value 2 years later with only 7k miles...

 

If the maserati's drop that fast, frankly , its a good reason to put miles on the car and enjoy it!

 

I would speculate that the Cali with under 10,000 miles will be selling for $100-$125k in 3 years but hold there for a while. If depreciation is a concern then wait till next summer and buy a used one. More will be out there, demand will be less, the 458 will be out. Let the first guy take the bigger hit.

 

If that lease car is well cared for, I would sure buy it back at $94,700 residual with less than 11K miles on it. Ferrari will be making money on both ends if he turns in the car. I cannot see the cars depreciating anywhere near that much in three years. These are not Maseratis or Mercedes.

Saw a beautiful 2007 Maser QP the other day for ~$55k with 8K miles. What a temptation.

Taz
Terry Phillips

 

So in 3 years, I should be able to buy one of these for $105 to $110? Man its going to be a looooooooong 3 years.....

 

That is the big question. I am of the view that the Cali will depreciate like a Porsche, Maserati, AM or MB. It is a daily driver car, plentiful in supply and perceived as such. Why would it not depreciate against the cars that it is in the same class with????

 

Because it is a Ferrari. Almost all modern Fcars can be designated as a daily driver.

 

So is a 612 and it depreciates like a Maser...

 

exactly and I think the Cali will too. Mass production DD

 

I don't believe the 612 is a mass production model.

 

There will ultimately be less Cali running around. While rarity is a factor, it matters less compared to supply and demand. 911 is a mass produced model but it has a relatively good depreciation schedule even compared to limited prod or less produced model like DBS. Surely, the 458 seems to hold value better but not enough sample size in town to judge n no one knows the state ofnthe economy byn2012. With more talks and possibility on a double dip in US and another round of QE, a Ferrari may not be most conducive in such bad times to serve as a luxury product. Most second hand Cali is asking above list and even transacted at a 5% discount versus around an 8-10% premium now on 458. Cali traded above par for a short while albeit very short. We will see in 2 years time. It may tank like hell the Cali but who knows. The niche to me certainly creates good support as it has many features unique to this model. It will be very similar to sl and 911 when it comes to resale which is normal 10% a year up to 30 for year 3. 458 will behave more like 430 and hold well for first 18 months. When novelty wears out, used ones will stand some 10-15% deep after 24 months?

 

I will lose far far far less on my 612 than my CL65 which listed for 205 and three years 14k miles later sold for 54k on ebay. I will argue all day long if you use a modern Ferrari as a
dd it will depreciate less than any other car even close to its' class and triple the fun!

 

wasn't there a member on this board that said he trades in his Ferrari every year or two and doesn't lose all that much because he has a good relationship with his Ferrari dealer? Hypothetically is it possible to get a new model Ferrari such as the California and trade in at the end of two years with less than 10K miles for not too much depreciation?