Trade-in shock. How much are 2010 cars worth?

A Ferrari dealer (generally speaking) will offer $10k less vs a place like CNC or Eurocar.

RED 2010 Californias with less than 10k are selling from non-dealers in the $180s. Ferrari dealers will sell them for $5-10k more. (Don't assume there is a warranty from a dealer.)

If you have a non-red Ferrari it will wholesale for $10k less and retail for $5-7k less. Red matters...don't let anyone tell you anything different. Ferrari = Red.

Its been my personal experience a $189,900 retail car will wholesale for $170-175k. Also, the dealer where you are placing your order for your 458 Spider will assume you are willing to do 'whatever it takes' to be 'permitted' to order a new 458 Spider. Thus, they will offer you less and be almost insulted when you don't take it. Personally, I think this is fine. They have the right to make whatever profit they can from whomever is willing to pay it.

Oh, and if you want shocking depreciation....look at wholesale vs retail Lambo or Aston Martin values....not to mention Bentley, MBs...50% after 36 months IF YOU ARE LUCKY.

Hope this helps.

 

Well said.

 

34% depreciation (wholesale vs MSRP) on a 4 year old car is unheard of for any other make.
Most cars lose that percentage in first year of ownership,what you have is outstanding.
Nothing to complain,we are talking about readily available car after all, not some limited edition special.
Be happy.....

 

well stated.
Something else to consider...keep it and don't order a new one!
Ferraris seem to level off in depreciation after 4-5 years. As the newer 'replacement cars' are ever more expensive the older cars seem more of a value.
BTW, the 458 is more or a A to A car vs A to B car....

 

Though we love them, Ferraris are 'just cars' nowadays. And expensive ones. More fluff, steeper depreciation. I think the old rule was you did lose 50% in three years, so if you can be patient, you can get a really expensive car for a bit of a bargain. That said, the car is still going down. New models and model years are bearing down on your 'bargain'. Ferraris are a great priveledge and luxury, so you have to pay one way or the other to put yourself behind the wheel. And then comes servicing...!

 

So why don't you sell it privately?

 

All cars do.

(Except collectibles like a Ford GT or BMW Z8, which seem to defy gravity...)

 

No dealer starts the sales game with a 10% margin in a used vehicle. I've done this gig since 1989 and if you can't buy a unit,or get the trade landed at a price point where you have 20% plus, you don't do the deal, unless you are getting out of another lump you're stuck with. Especially in a soft economy that is not going to go up for a couple of decades.

 

Why are you surprised? 160 is about right. The dealer will add 30k and probably my it will go for 180-185. The new Cali is coming out so they've gotta move old metal quickly.

If want, you can join the buyers of Scuds who lost 100k in about 18 months.

Or Mac 12c owners who lost 60 in the same year.

Doesn't seem so painful now, does it?

Here's a tip to everyone reading here: Ferraris are expensive.

 

+ 10000

 

I think you overpaid to begin with. My 2010 Cali stickered at $220k, I paid $187k at 2 years and 3700 miles. Dealership informally offered $180k 6 mos ago for trade in on Italia I should have taken it lol. After adding an additional 3k miles over part year I'm in no rush to part mileage at 6700 now.

My 2007 Carrera s was $93k sticker I paid $77k when it was 6 mos old 2700 miles. Sold it at 4.5 years old to a dealership for $43k at 16k miles. Would rather do one extra day of clinic than do private sale with tire kickers and young punks.

 

selling any car let alone a car in this price range is a profoundly horrible experience. The single biggest challenge is dealing with the hoards of no money wannabes. Not to mention the car flippers and wholesalers.

 

Yah, I agree. Too many jokers out there spoil it. Better to hand it off to professionals at that price range.

 

My dealer also gives low trade-in quotes...I had them quote my 2010 Cali (3000 miles) in Jan of 2012 and was offered $170. I sold it 3 months later an independent exotic car re seller for $190 (might have been 195)...and they did the appropriate paperwork so that I could use it as a tax offset for a boat I was buying from a different dealer in the same town. No question that a lot of F dealerss make a very nice margin on trade ins.

 

They have to. Their new car allocation is limited by the factory and it's not like Ferrari turns out Toyota-like or even Porsche-like volumes. So, if they want to make more than their margin on the relatively fixed number of new cars, they have to make their money on used cars. Since, as a high end dealer, they are expected to host rallies, club or enthusiast receptions, etc., their overhead is high, so their margins need to be high. To maintain their ability to maintain those margins, they have to buy low and only resell the "best" examples and wholesale the less desirable cars to independents, whilst charging near top of market prices.

FWIW, if the dealership is operated "properly", as in treating the customer right, and truly having the "best" example cars, I have no problems dealing with them. No way for a high end car would I try to sell it myself. If I didn't like the dealer offer, I'd shop it to an independent. Last on my list is consign the car, as I still have the risk and liability of ownership although someone else does the showing, test drives (if you allow them), etc. In my view, I'd prefer to shift the risk to the buying dealer on such an expensive, depreciating item, and be done. But, like everything else Ferrari, it all depends on how you value your time and level of risk tolerance.

 

I bought my 2012.25 V8 Vantage Roadster in August 2012 for $125k (MSRP was $152k). I was looking to trade it in at our local Ferrari dealer and was offered $85k! I laughed, cried, then politely declined. I couldn't believe how far the price had fallen. The best offer I got was $107 from our MB dealer. Part of reason could be that I put ~7,800 miles on it. I'm used to depreciation (my prior car was a 2011 MB E550 Coupe) but not in that large of a number.

 

To the OP, $160,000 does seem a tad low. 2 2010 California's have sold in the past month at auction. Both had miles in the 8k range and neither were red. One did 163,000 and one did $169,000. Those sale prices are true wholesale values as they were actual wholesale auction sale prices. I do not know the options on either car, but having twice the miles as your car would negate any significant option differences. The dealer may be giving you a figure based on their desire to sell the car at auction to make a quick buck. I'd shop around for other offers.

 

Having been in the market (and recently secured) a 2010 California I can assure you guys that they:
1) Are selling.
2) Options do matter.
3) Red absolutely does matter. I wasn't stuck on red (wife really wasn't). When looking nationwide it became clear that a red Ferrari wholesale is worth $5-7k more...and $10k+ retail over a non-Red California.

Also, the economy is improving. There is every reason to believe that Ferrari's will increase (slightly) in value in the spring. Also to be considered is the fact that the replacement/ 2014 California will have a base price OVER $200k...probably $210-215. This will have a positive effect on current Cali pricing.



Hope this helps.

 

Auction results are not always the most accurate barometer of actual wholesale prices.
Too often cars are bought for personal use of a small time dealer or for a client of his trying to locate a specific model at a lower price then at Ferrari dealer.

 

dont get stuck with the idea what wholesale prices matter to us retail buyers. We can't buy like the dealers can...so the prices they pay for a nice 2010 Cali ($160-170) is not what we pay...$180-195k.

I would be very careful with consigning a car. Your still on the hook for the car if something goes wrong...its still YOUR car. Not to mention the not so rare stories of dealers not paying you after they 'sold' the car. Sell it, get the cash...move on. Next.

 

In the UK, prices of convertibles change by the season, with prices lower in winter, is that the same in the USA?

 

yep. spring...summer the prices increase. Also, area of the US the prices can differ.

 

For cars over 20,000 miles, the price starts at about $150 and will go up slightly. Of course the same dealer is offering these cars for $200k