F430....Depreciation & Current value?

Good price on a 2007 430 with only 5700 miles one owner car. Have a PPI done and join the club. Nothing is like driving/owning a Ferrari. Don't worry about depreciation, just drive the car and enjoy it. Everything depreciates in life, including you and me! You are coming in at a good price point. Offer them $140K and settle in the middle. Jump in and enjoy the ride. Ferrari=fun! Enjoy her in good health! Cheers!

 

there are many threads here discussing this. Simply put, 430's will continue to depreciate, for a good long while IMHO. And, while that is only MHO, the market backs this up with every modern "mass produced" ferrari. So, realize that you are taking a 15-20% hit on day one and then perhaps $10k per year thereafter would be a good going in assumption. If it ends up being less, you are ahead of the game.

Sounds like you found the "perfect" 430, so resale will be relatively easier.

Let us know if you get it.

Oh, and "life is too short, yada, yada, yada"

 

In April last year I bought a red/black '07 F430 Spider that was a two-owner (but single dealer on both transactions) car with 16K miles on it for that same amount. Clean PPI, all records, minor upgrades, but otherwise an incredibly clean car (see photos, taken by a pro after a recent detailing.)

I'm assuming you're looking at a coupe, but with the low miles and one owner I agree with the other comment ... $140K is probably a pretty fair price and even if you pay $145K I bet you'll love the car. They are truly amazing!

Good luck!
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Wow, that sounds like exactly what I was looking for! Red with black interior. Awesome. Please post some photos, especially of the interior.

What options are installed?

I just bought a red 2006 from a Ferrari dealer with all services recently complete, 6500 miles, full CPO testing, new battery, and a new clutch at 99.5%, for $133K.

What's the clutch life at? Tire status? Brake status? Battery status? Did the dealer run the full Ferrari CPO testing including engine compression test? I'd want them to do that before I committed.

If its pristine, all the maintenance/wear-out items were recently performed, and its fully loaded minus CCM brakes I'd make an opening offer at around $130K (87% of asking). If it includes the CCM brakes maybe $135K (~90%). If the clutch has significant wear, the battery is a few years old, tires and brakes have one or two years left, etc. then I'd reduce my opening offer to $120K (~80%). When they barf at the lowball opening offer, make a counter by asking them to perform some of the maintenance as part of the sale.

An opening offer should pretty much never be more than 90% of asking price even for the perfect car you badly want. That leaves no reasonable room for you to negotiate. If you close at 95% or more of asking it means the seller didn't really move and wasn't seriously negotiating, ie he had the leverage and was willing to pass on the sale and wait for another buyer, or you didn't negotiate hard enough and left money on the table. If you close at 80% or less of asking it means the seller was asking too much and/or you beat the hell out of him (congrats).

I'd never close on a car purchase for over 90% of asking without ending negotiations, leaving, and letting the seller worry for a few days, probably more than one iteration. If the seller sticks at his price through 2-3 of these iterations and won't come down any more, then he has probably reached his current negotiating floor and is willing to wait for another buyer at that price, at least for now. In that scenario, if you are comfortable with the price, then buy it. If it seems over market value, go find another car or leave a low offer on the table and tell the seller to call you if he ever changes his mind. There are MANY good 430s for sale, although not many with a black interior if that is important to you. I passed on an awesome red with black 430 because the dealer wanted $159 and wasn't quick enough to offer to move downward so I concluded he was stuck at over market value and would never come down enough for me to buy. Oh well.

When negotiating, never make two offers in a row, ie without a counter from the other party, and never move much more than the other party, ie keep negotiations balanced. If the other party rejects an offer outright without countering, call them out on it and ask if they are serious about negotiating or if they are done. If they say they are done, tell them that's disappointing and that you were negotiating in good faith and wanted to close, leave your last offer on the table, and walk.

Also make a list of ~4 added items or services you would like to have along with the approximate dollar value of each. Use these items to complicate your counter offers or get unstuck when it seems like the other party isn't moving proportionally, ie you can shift back and forth between position moves in direct price, changes in product and services, or combinations of the two. These things help you maintain a perception that you are serious and negotiating in good faith, even when you are playing hard ball, often extracting more concessions in price or services.

Anyway, those are my strategies. Doesn't just apply to cars. This is actually from business but I believe the same strategies apply to most negotiated transactions.

I'd be interested in the one you are looking at if I hadn't already bought.

Keep us posted on how it goes!

 

No, not even close to the bottom. If you can't stomach losing $7k a year in depreciation, buy a classic like a boxer for the same money and watch it appreciate.

 

Worrying about the depreciation will detract from your enjoyment of the car. Yes, its still going to depreciate quite a bit, it goes with the territory. Look at 360s for reference...

 

Yeah, I wouldn't worry about depreciation too much. I think a car with an asking price of $149k isn't at the bottom of its depreciation curve. I can't comment too much in excess of what's been stated above already. But, the depreciation isn't over, however, you shouldn't let that spoil the deal since it's an epic car.

 

A 15-20% hit on day one for a 5+ year old 430? This doesn't make sense to me. I assume one could buy the car and turn around and sell it the next week for a similar price. I do agree as to the annual depreciation though.

 

The answer is so simple. Just look at the value of 360's. The 430 depreciation will be similar. For example: Want to know what a 2007 430 will be worth in 4 years? Look at the prices of a 2003 360. It should also be noted that the dealers try to make 15 grand on each transaction, so if you sell your Ferrari to a dealer, subtract 15k from the prices you see.

 

Well, if you consider taxes and fees (here in Texas about $10,000) and you buy it at retail, but have to sell it back at wholesale, it could cost you 15% or more for a 1 week ownership.

Then the depreciation starts.

 

But also keep in mind the MSRP differences between the cars. If they have equal 10 year depreciation rates, the 430 will still be worth more. Plus, the 430 will be worth more because its a better car. But the sub-$100k 430 era will dawn shortly.

 

Okay, if you're talking about transaction costs, I agree. As for value, however, it doesn't change, unlike in the new car case (a car is only new once).

 

Here we go again...Can't we concentrate on that which we are GAINING from Ferrari ownership, rather than on that which we are LOSING? This is like a disease with some of you...
Buying a car is ALWAYS a losing proposition financially...get over it already or don't buy in, PERIOD! (in the words of the beloved!)

Do we really need another thread on depreciation? Funny how I don't see any threads on how much we love these gorgeous beasts and the joy derived from owning/driving one...

 

Just a beautiful car! I hope you enjoy it.

 

+1, Robert! Unless you're dealing with an older or collector vehicle, depreciation is the unavoidable price of admission. This reminds me of the posts where a person debates whether to buy the current model, or wait for the next generation, just over the horizon. At some point, either you buy a car and start enjoying it, or you reprise the role of Hamlet("To be or not to be, that is the question."). There's no surefire way to dodge depreciation, short of automotive abstinence. Just my $.02. Fred

 

What he said.

And this.

I agree, part of what you get from the car is driving pleasure. Unless you get into classics, depreciation is just normal.

BUT, the OP could save some money and do himself a favor by not paying a premium for a 5K-mile car that will depreciate even more than one with 15K miles on it.

 

I am also in the market for a late model F430, not sure if it's going to be a Coupe or Spider. With that said I'm new to FCHAT and wasn't sure if there's a general price guide available for the 430. Perhaps this could be of help here. I'm also not concerned about depreciation since it's a matter of car ownership unless you're forunate enough to own a 330 or 365 GTC. Either own and enjoy it or move on.

 

...Of course, you aren't taking into consideration that a 5K mile car is newer, more likely a better car with less wear and tear on her than a 15K mile car. As a matter of consequence, I would bet less likely to experience a costly maintenance/repair over the next 10K miles. Often times, a cheaper car going in ends up costing you triple going out. You get what you pay for. A higher mileage car will cost you more in repairs and those repairs are very costly. I would rather pay more going in by buying a MINTY MINT, no stories car that I can enjoy trouble free for years to come and be proud of. That's just me though and my 2 cents... I may be in the minority here, but that is just my opinion.

+1 with Fred...at some point you just have to put a toe into the water to see how warm it is for yourself!
Cheers! Robert

 

P.S. Is that red beast gorgeous or what? That paint looks like red liquid lava...Wow!

 

I should have labeled it as the retail to wholesale delta. It could be less if you buy at a good price, but that is the usual delta if you have to get out of it quickly on virtually any car, not 430 specifically.


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No shortage of Red 430 Spyders to compare, I grabbed this data off the internet today
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Can you get the same graph for F430 coupe prices?

 

if your concerned about loosing money when time to sell or trade or worry about putting on miles not a good idea for you.buy this car to enjoy and not worry about resale and miles.its worth all the loss of cash at time of selling/tradein.i bought my 430 7 months ago and im sure its down 10k from what i purchased and the enjoyent im having is all worth it.

 

This was my second attempt to make a graph for car sales with my new software. It takes me a long time to get the data into a two column spreadsheet from a website. I need to find some tricks! If I get some free time in the next few days I might give it a go. Once I have the data, its chart madness out here I tell ya!
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