I went to Ferrari newport beach a couple of months ago. They had plenty of used inventory (entire showroom was full). They also had two brand new 488's for sale. I asked if customers backed out.... was told that they were dealer spec cars and no customer attached to the order. This is more frequent then many people know... Ferrari dealers are just very good at managing this type of stuff. If they can't sell them then they get sold to a third party exotic car dealer (how do you think delivery mile cars show up at these dealers?). My neighbor wanted to sell his low mileage 488 spider. He called his dealer. They told him to hold onto it because they currently had five for sale. The depreciation/lack of depreciation across all marquees on regular production cars are starting to follow the same pattern. Too many good choices out there now. I don't think this will be a selling point any longer for brand new exotic cars (ie; buy this car because it will depreciate less).
the newport area is a completely different market than detroit. and not a chance they were BS'ing you......
I have owned seven McLarens and lost money on every sale including my 675 spider and 720. So, no, I’m not being a little selective. What I was doing is simply warning a fellow member who when frustrated with Ferrari said he would go the McLaren route. I am not bashing the McLaren cars per se as I do still own three and have a Senna, 600LT, and Senna GTR coming. If you think the 675 spider or 720 are appreciating, I believe you’ll find yourself sorely mistaken.
The competition between the top super car makers is getting more intense. The consumer is the winner since the cars are getting better and dealers need to be more accommodating to their customers. However, depreciation will intensify as well since model life cycles will be shorter which further creates the desire to change cars more frequently. Brand loyalty will diminish since the marque choices are now more appealing and diverse. For once, the hackeyed phrase" Diversity is our strength" will actually be apropos.
I appreciate the warning. By no means am I expecting to make money or stay even on the 720. It will likely suffer the same fate as previous maccas. My comment about the 488 was simply to point out that in the past Ferrari seemed to be more immune to depreciation than other brands(at least the v8 models) but with the 488 and increasing competition from other brands, increased production by Ferrari due to the IPO, it seems the bloom has fallen off the rose. I tried to get a Pista. Not a chance I was told. Buy a Spider and maybe we can get you a Pista in the future. Sure I like my 488, will try a spider. Got offered a ridiculous trade in on my car. Maybe that was their subtle way of saying kiss off, go bother someone else with your car desires. Maybe the market is truly soft on the 488. Whatever the reason I just decided to try something new. Almost bought a 650 when I was cross shopping against my 488. Hated the drive of the car so I passed. The 720 was a much better drive.So I went to the Mclaren dealership and am working towards a 720 and finding the right spec. Will it lose money? Yup. Do I care? Sure. No one wants to kiss away money unnecessarily but I also recognize that there is a cost of doing business as you know much better than I to these cars. I’m not a heavy hitter with 30 cars in the garage. I do ok and worked hard to get where I am. I’ve thoroughly enjoyed my 488. In fact I’m keeping the car. I plan on thoroughly enjoying my 720. In a few years will figure out the next game step. I guess my point in all this is that I have no loyalty to any one brand. There are way too many dealer games out there, buy a Lusso to get a Pista for example with Ferrari. Or we only sell our limited edition cars to 918 owners with Porsche. Mclaren seems to not play these games currently, so I’ll go play in their sandbox for a while. Lambo seems to be the best straight shooters in my area- you have money? We will sell you a car. But unfortunately for me, I just can’t fit inside a Lambo comfortably. Too tall. There are plenty of cars to go around. Lots and lots of great choices. It’s a good time to be a car enthusiast.
Too bad you don't fit in Performante. It's such a great car and the sound oh momma. I too went back and for with 488, 720 and Performante. After driving them all and weighing factors I'm probably ordering 2019 Performante. Thankfully I fit. Some good deals on 720's and look forward to your choice.
Choice is made. Keeping the 488 and adding a 720. At this level, what else is there? Performante was awesome. But just not for me. No chance in hell I pay 175k over for a gt2 rs. Already own a 3rs and a G53 touring. Can’t see the value in paying the premium. I’m sure it’s worth it to some. Not to me. Not sure what else is out there in the 300k range.
Nothing else in the 300 range. My .2 3RS is incoming in Nov (thankfully at MSRP) and will pair nicely with Performante. Even at MSRP I think GT2RS is overkill unless you track it 90% of the time. 720 or Performante make better street with occasional track cars overall. Look forward to your incoming. It's one hell of a fast car.
congrats on the 2rs purchase at msrp. That is awesome and at that price, its a no brainer cause anything you drive it for a few years and when time comes to sell, you get your money back. Working on a deal for the 720 now. getting close....
I know you made up your mind and congrats on your upcoming purchase! But like you guys, I’ve gone through many exotics and I’m at the point where I’m tired of losing $ chasing after the latest and greatest. Funny I’m going the opposite direction. I have had the Performante for a year and I am selling it. No doubt, it is a phenomenal car but it is already starting to depreciate, no matter how splendid the car is. I am going to trade it for a Speciale or SA. Different strokes for different folks. Sent from my 16M
I think it’s a great strategy. I’ll be honest- I need to get this next purchase out of my system and likely I’ll start doing the same. But I’m not done wasting money just yet.
Yup we all go through phases....I need to get to the mature stage of selling all my cars for one supercar collectible and one driver’s exotic....but that’ll take some time. My friend did this recently. He had I believe a 16M, 488, Lusso, Speciale, etc. and traded them all for a hypercar collectible. Held on to an 812 for driver’s car. I thought this was very wise. Sent from my 16M
You've obviously done your homework and it's interesting to hear you're going the Lambo Perf car. I'm not overly interested in Lambo as such, however from what I've seen, read and spoken to, it does seem as though that Lambo model an excellent car. Would be good if you could post here if/when you purchase the Lambo. Sent from my iPhone using Tapatalk
If there is a key to deprecation or to manage it then it is to buy an early car and sell it within the first few months... Just like I did with my 675 spider (which happened to sell around the same time as yours and both were sold to the same guy) and if I did the same thing with my 720s then I would've been able to sell it at right around MSRP., which you also posted in the past. Ask someone who bought a brand new 458 in 2014 or 2015 and held onto it for two years and what happened to them. Who said appreciating? Depreciation or lack of depreciation is fake news in regular production cars across all marquees. One can't just isolate to one or two cars of a marquee and say that a certain brand/marquee hold value better then others.
I might be missing something but what's the point of buying a car and selling it within a few months just to drive it a couple hundred miles and not lose money? Wouldn't it have been easier to not have purchased the car and not lost money? And wouldn't you get killed on the sales tax buying a car and selling it right away? Is this all just about making your way higher up the dealer's list for something like a Pista?
For me it's short attention span not about losing less money. I've never kept a car longer than 6 months...it's just me. I've tried going backwards with 458, but the tech is so bad inside, that I always end up with new car. Done that twice. Hence why I buy right up front. Some brands are just horrendous at depreciation and I just cannot get into those. Unless it's a GT3 car, it's going to lose out of the gate, so do your homework and buy at the right time (I love car buying in winter on east coast). As to sales tax some states like TX you get full credit. Trade $300k car, buy $300k car = no sales tax.
