296 Values and Used Market

I don't think these are going to have the value jump that we've seen on the SP1/SP2, F12tdf, SP3, etc. The secondhand market response on the SF90 hasn't been great, and the MSRP's on these XX's are so high to start with. I get that it's a numbers limited one, but I'm struggling mentally to see who is going to pay $2m to buy a used one a year later.

 

296's seem to be at or below MSRP for barely driven 2022/2023 models here in Canada now.

Will be interesting to see how many people bail on their orders now that the cost of ownership won't be relatively nothing.

 

This far into production I don’t think it’s a large or significant number. Sure, there may be a few but there is someone else on the list that wants to buy the car to drive and not to sell.

I would hope that anyone that has an order in knows what the market does for new cars after the second or third year. I’d also hope that they would be smart enough to know they are buying a depreciating assets. That is unless they have buried their head in the sand for the past year and still believe we are in 2022/2023.

 

I think it weighs over 5 tons also…

A new one sat on the dealership lot for 6-8 months while waiting for GMC to sort out some issue. I don’t remember what it was, but they could not release the vehicle. Neat idea but a poor execution I think. But that’s for another thread, I guess.


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I know you are soured on Porsche but I picked up a Targa GTS4 to use along with some others as a daily and it works pretty well.

 

I’m soured on the dealer network, the overinflated prices, the overhyped driving experience. Other than that the cars are great.

 

Thank you for this! Exactly why I'm giving my sports auto business to the Italians. The Germans still get my money for watches, headphones, double edge razors, and other things. Equal opportunity spend!!

 

In a personal level I have great relationships with my local Porsche dealer GM/GSM. They’re great. We golf. We’re friends. But if they can sell a car for $80k over I don’t expect to get it at MSRP. I’m not special. And the Porsche market makes no sense the products do nothing to excite me. If anything should depreciate it’s Porsche. Yet here we are.

 

Shockingly my Porsche dealer is much better to deal with than my Ferrari dealer. Straightforward, no BS or excuses.

 

The only thing that is "shocking" is you haven't figured this out long ago.

The classic is to get you to buy a car you don't want to get the car you do. Only Ferrari could pull this off. Can you imagine Chevy telling a customer they have to buy a Chevy SUV to get a Corvette?

 

Not sure how long this game will carry on BTW

 

it's pretty much almost over imo and the only overs cars within a few years will be the hypercar

 

A Corvette Z06 is not a harsh ride, IMO, especially for a short commute. If you keep it in Touring mode, the ride is not that bad. Biggest issue with a Z06 is that there is less low-end torque which makes short commute less fun. Our Camaro ZL1-1LE with 650 torque is much more exciting but much more harsh.

 

The torque never bothers me. Second gear pulls hard. And sounds great. It’s after 130 mph the acceleration tails off.

 

what a turn of events, the dealers I called 2 months ago have been calling me back this last week trying to make a deal...one even admitted its bad. the 296 GTB market is really really saturated but also in the same breath said they didn't want to budge

 

They’re patient enough not to cut their nose off to despite their face. The dealers have made an absolute killing last 4 years. If it normalizes pre Covid profits, good. They have plenty of cash reserves to sit and wait.

 

Also to add, the secondary market for all currently in production super cars sucks relative to last 4 years. But it’s normal for 10 years before that. So, all in all, oh well.

 

market in general is tough right now for anything expensive. Boats, RV’s, supercars, etc. High interest rates and high prices are a tough combo.

 

Exactly 100%. Not sure how this is any different than before Covid. Not sure if it’s people that have just entered the supercar market in the last 4 years and think that cars appreciate or people that want to try and bash a particular brand??

 

Bro every car and watch I buy I consider it worth zero. I never think about the value from that point forward.

 

Absolutely. No point in buying a depreciate asset if you’re going to worry about its value in a few years. Takes a lot of the enjoyment and purpose out of it and life’s too short.

 

Well one thing seems clear from this thread, there are plenty of people who think about cars the “right” way (ie expect depreciation) and buy what they like. Also, these people aren’t willing to pay way over list for a 296. So the market will find a clearing price. Not sure what will precipitate this, maybe year end, maybe as the Summer ends in northern markets. The good news, to me, is that demand still exists in a more difficult environment. This means, if I buy my 296 whenever they get around to making it, and don’t like it or want to go back to a McLaren, I won’t get slaughtered on depreciation. I hope I love the car, drive the snot out of it and lose lots of money when I sell in 5 years. I could give or take the 3rd part, but if parts 1 and 2 are true, then 3 is easy to live with.

 

I'm not concerned about the car and its long run future value, but more the current inflated pricing. If I jump at MSRP or a bit below for a car almost 2 years old ok fine, but for now they seem to just set and hope to get 10k to seemingly crazy 50k+ over. If you can flip your GTB and make a good profit that's awesome for the seller (if you can get it why sell for less) but it seems for now its kind of foolish to pay over, as the inventory grows and I watch cars set now for 7-8 months, still hanging on that big ask.

 

Patience and one will get a 296GTB at 15-20% under MSRP

 

Need to specify that you are referring to your country, wherever that is. I doubt you will be seeing them 80k below msrp in the next couple of years in the US. Eventually, yes but not anytime soon.