Purchase Price (and other numbers):

I'm not a Ferrari owner, but I walked into the dealership this weekend and explicitly told them "i'm just window shopping", and fell in love with the FF - I really appreciate the look and really like the utility of the car. This is going to be my only car, and I live in downtown.

I never buying a ferrari would be so difficult - so many things to think about: depreciation/appreciation/slot placement for future order/etc...

question: Is there room to negotiate (today) on price. For instance, there is a grey 2014 New FF, listed (supposedly, i haven't seen the sticker) for 335K but willing to depart at 315K. Is there more room to negotiate? (i didn't even negotiate, they automatically dropped the price).

secondly - I "think" i want this car for a long time, i don't have the means to keep trading every two or three years. Does this make sense to own a ferrari FF long term??

Sorry for the basic questions, I love the car but want to make sure I'm making a somewhat rational decision.

 

While I am not an expert on the FF pricing . I would say FF is definitely a perfect car to keep for the long term . There will be some depreciation just like all the cars or maybe more but it becomes much less a factor the longer you keep the car. Regarding the pricing just make a lower offer and see what they say .. YOu may be surprised..
THe enjoyment of owning a Ferrari far outweighs the disadvantage of the depreciation nothing like driving off in your new Ferrari..
I hope this helps a little I am sure others will chime in best of luck with your decision.....

 

you can drive and FF every day for years - its the best daily driver on the planet. snows make it an animal in the winter. id offer 290k and see what they say.

 

The FF seems to be one of the most reliable Fcars in the long run. However watch out, cause if you say that u don't have the means, u have to make your calculations about if you are able to take the massive depreciation that's gonna hit you starting when u leave the dealership.

Basically that's 100k dollars in less than a year. And on and on later. If u can take that and have 300k in your backpocket that bump u when u try to sit down, then go for it.

 

The cost of ownership is almost entirely depreciation. Maintenance service is paid for in the price. You need only replace tires as they wear and perhaps brake pads which last a long time.

In my books I carry my FF as a depreciating asset with a 50% residual wholesale value at 5 years. For a 320K car that means you will get back 160K in 5 years, or an average of 32K per year. But the depreciation is front loaded. You need to figure a 12% wholesale-retail spread, then 11% depreciation per year. This gives the following calculated wholesale values for that 320K FF for the first 5 years:
year 1: 252
year 2: 225
year 3: 201
year 4: 179
year 5: 160

Leasing with an option to purchase will likely take a similar residual, perhaps slightly better, but charge you more interest on the lender's depreciating portion than you lose by taking your money out of a money market.

The car itself is magnificent, in some ways the best car Ferrari makes. A unique vehicle.

 

ABSOLUTELY! Don't be afraid to make a very low offer. It is always better to negotiate UP from your low offer than DOWN from their asking price.

You might also want to look at "previously owned" cars that may have significant discounts from MSRP.

Don't pay attention to the trolls on this forum. If you are owning the car for the long term, depreciation becomes a non-issue.

I think most people here would tell you that this is one of the better F Cars to drive and own for the long term.

Don't apologize, you asked very pertinent questions. Just be aware that buying a Ferrari is never a rational decision!

 

If people are so concerned about depreciation of a new FF, I think they might want to consider buying a pre-owned FF. Depreciation can be your friend if you play the game the right way!

 

Buy it used if you are concerned with depreciation. You'll save like $100K.

 

A well specified 2012 or 2013 car with the options you want is a great buy. That's what I have done. It takes a little of the first year depreciation out of the equation - and a car with 3k miles or so is effectively new anyway.

Money no object specify your own through the personalisation program and keep for ever. Buying a pre specified dealership car means you compromise on spec without the benefit of saving some $.

Equally if the money is burning a hole in your pocket just buy with your heart - once you start that v12 any concerns about depreciation with float away on the breeze...

 

If I didnt want the drop top of the Cali, I would love to have a FF ! At this juncture in life i cannot afford 2 Ferraris, but if I could I would buy a Used 13 or 14 heavily equiped for about $100,000 off MSRP with less than 2000 miles, no question.

 

agreed! just picked up my 2012 nero daytona FF with 6k miles for 205k with msrp of 369k brand new. planning to keep to for 5-6 years (if i can! and will try!)

 

Thats the way to go

 

1 - Think about buying used. There are a ton of low mileage FFs out there that have already taken the bulk of the depreciation hit.

2 - Call State Farm or whoever your insurer is - one thing that I believe is consistently overlooked re: cost of ownership is relative cost of insurance (usually not prohibitive, but starts to add up if you're keeping the car for a number of years).

3 - '12-ish and up Ferraris have been getting impressively reliable. Don't be afraid to put miles on it / use it as a DD. That said, if you look used, remember the 7-year included maintenance that started ~'12.

 

piling on:

FF is phenomenal. We have a 2013 and plan on keeping it; might update to the M version if it makes sense. We'll have had it 3 years and lots of miles as of July - so we've already taken the hit. We dipstick trade offers frequently and we're far from upside down.

The used FF market is something you should explore. There are a lot of great cars out there mildly used. Consider building in the extended warranty into the deal if you're long-term.

There are some "new" FF's out there, I know FFS is offering a screaming lease program that might be worth looking at. It may (or may not) work for you.

On the depreciation "panic" - Rule 1: V12 Ferraris depreciate. Rule 2: 2+2 Ferraris depreciate more. It's a fact. However, our FF was a 2013 and we spec'd it reasonably - so the MSRP was merely heart-attack causing, not stroke-inducing. SO many 2012-2013 FF's were overloaded with options (that get zero love on resale value), so the depreciation percentages look (and are) enormous off of the original MSRP.

The Depreciation Trolls love to quote the big %, but in reality it's due to the highly optioned/inflated MSRP. We have a trade offer in hand, 3 year old car, 7K miles for 30% depreciation....which is close enough to market with a modest dealer profit that it makes sense. Dealers are careful, as FF's are a very intense but very small/niche market.

 

This is dead on balls accurate.

The way to control depreciation as much as possible on a new FF is to avoid optioning up with stuff that may be nice to have but not needed. The cars now come standard with most of the driving aid stuff you really need (electrochromic mirrors, parking camera). This will keep it in heart attack territory. For a used one it is a matter of mileage, model year and the price point. Whether new or used, figure 10-12% depreciation per year.

 

Just to quantify?

"Heart Attack" Territory is what, $300-350K?

"Stroke" is $350+?

Inquiring minds and all that...

 

if u cant afford to lose 150k you shldnt be spending 300+ on a car. i bought a range rover SC when i bought my ff. they are both down the same percentage.

 

Cardiac insufficiency 250-300K
Angina 275-300K
Mild Infarction 300-325K
Severe Infarction 325-350K
Stroke 350-375K
Heart Transplant 375-400K
Brain Transplant 400K+

 

I'm gonna have to remember that...

 

If buy used and out of warranty, definitely consider the new power warranty for a peace of mind. It's a must if you use it as DD in my opinion

 

+1. Just got one for my 458. Not too bad a price.

 

Can't you extend the full warranty for two years for 12k? If the car is out of warranty, can you still add it?

 

I don't think that you can get back the full warranty once the car is out of warranty. (There may be a 1 month grace period but that's it). I believe that until the New Power warranty program was offered recently, there was no way back in once you were out. Evidently Ferrari saw a money making opportunity in offering warranties for older cars in good condition so they came out with New Power.

 

Completely agree. I just picked up a 2012 FF with 3,000 and paid $210k with a sticker of $360k. With only 3,000 miles its like a brand new car.

 

There is nothing rational about buying a Ferrari, nothing. That said, the FF is Ferrari's best kept secret. It is without question the best Ferrari ever made. Given that, depreciation will cut your heart out unless you drive it EVERY day and understand that depreciation really does not matter with the fun that you will get and the miles of smiles you will get. And given that, there is about to be a gray FF with 46,000 miles at Midwestern Auto Group, maybe by the end of the week, mine .