296 Values and Used Market

Side note: mine was delivered with 140 miles. I asked why almost triple the normal, they called and told me it was due to needing an alignment when it got off the pallet in NJ. Which, when you picture winch straps holding it down on a pallet on a ship, I kind of understand. Still seems a little much for alignment test driving but meh. Just got me out of 'break in period' faster, whatever that meant.

 

I can definitely wait 2-3 months for $30 grand!

 

Hi ,

I noticed your car had LDW but without the large cameras that come with the full surround .
I have my GTS about to go to 10R so I can still change but I did not know that you could just get LDW. Also does the LDW have a ‘blindspot ‘ warning or is that with full surround only ?

I personally do not need full surround but I do like LDW and blindspot.

thanks in advance for your feedback , good luck with the sale

 

my window sticker is with the car, so I can't check it. I didn't order any of the driver-aid electronics (and I hate the surround view bubbles) so I have no idea if LDW is standard, or if it was part of some other package. Sorry.

 

No problem I had the same thought on surround view. My car has just gone 10R overnight Friday and the Vin is in the app, it may be too late.I have to wait until Tuesday to speak to the dealer

 

Ryan!

People at Beverly Hills would lose there **** over that!!


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Still keeping track for my search but to update; on Autotrader and Dupont (not duplicated) there are 17 listings under $400, some are a good bit under MSRP, some look to be lower options and are probably still over. Little if any movement on anything going out, but new cars keep showing up. Sold 1 listing at asking $10k under sticker. 1 new car just popped up in St. Louis on my under 4k search nice heavy optioned black 2023 with 121 miles, good amount of carbon, racing seats, lifter, premium hifi so I can't imagine it is not quite a bit under MSRP.

 

lowest price I have seen to date, 360k:

https://www.bochexotics.com/certified/Ferrari/2022-Ferrari-296+GTB-for-sale-Norwood-MA-13fb798dac182d8d2ca1c1e8e9569c25.htm

something fishy with this one even though carfax doesn't reflect. 18 days on the market according to autolist.com and in those 18 days have dropped the price $40k. some dealers take six months to drop that much off of asking price. 2 owners, less than 1000 miles.

 

It's a SUPER base spec. Look at the option list, there's pretty much no options on that car, so they're probably trying to get rid of it. If I recall on the 22, base MSRP was $318kish then throw the few options it has onto and you're probably still under their asking price. But could also be a problem child, although they have it listed as certified..

 

Here is what I am seeing more often. Heavily optioned 23 with 1100 miles.

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That makes Maserati depreciation look good.

 

great time to be in the market for a 296 GTB. plenty of spec to choose from and no 2-3 year wait!

 

Agreed. It’s probably a 335-345k msrp so they are asking above msrp.

 

I just checked Cars.com and there are 120 296 GTBs for sale. The market is being propped up by high asking prices and negligible sales. At some point a seller is going to get tired of waiting and smack a low bid which will reprice the entire 296 market. And let’s face it, it’s not as though these vehicles are getting better with age. Nor is it the case that they’re so rare you can’t find one.

 

Average MSRP across available 296GTBs is approximately $420,261.00 with an average asking sales price of $444,738.61. If you look at the trends, the average price drop on the sales asking price over a period of 90 days if approximately $18,556.75 roughly. The car market is softening and it looks like these cars aren't immune to that fact. But again, buy what you love, drive it, and enjoy the hell out of it. VS's are investments, standard production cars generally are not anymore unless you're getting the first allocation landing and first to flip the market (not generally recommended but your mileage may vary depending on how big a Ferrari client you are.)

 

My dealer in miami, who I won’t name specifically, but is on bird road and is notorious for their incredible customer service (can you feel the sarcasm)… just offered me 80k BELOW msrp on my 2 month old GTS AF if I wanted to trade on a car they have that I had been looking good for.

I have purchased more than a dozen cars from them. I love my salesman here but man this dealership is something else ….Same guys that offered me sticker on my f8 spider 15 months ago, that I sold the very next day for 85 over to another Ferrari dealer.

So this is a good example of where the market isn’t on a 296…. 80 off sticker ….


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They screwed up my lithium battery on my Pista which I had to replace. They also,charged me for service that should have been covered under warranty. Just took my service to the one North of them.

 

So market is about MSRP

 

Sounds like the only reason to hold on is:
1. You love how it drives
2. You hope to get an allocation for the VS

Hmm.. mine is due for delivery in September.

 

Agreed but more to the point of #1, that should be the ONLY reason to have a special car. These aren’t cheap. Owners should focus on the joy of the experience if it’s not there, sell.

 

Finally got to drive a 296. I don't know how anyone could sell this car, much less lose money in the process. What an amazing vehicle!

 

As it is with most things, the value of objects can sometimes take an interesting turn in the future as people look back and realize how great things actually were. I don't yet know if the 296 will be that due to factors someone mentioned earlier in this thread. That said, our present selves have not been exposed to what the future will look like for the 296 with respect to these matters.

As someone posted in a separate thread, perhaps Ferrari could come up with a subscription program much like the Extended Warranty to manage hybrid related matters. Tradeoffs for that could involve higher cost of subscription to enable R&D to bring improved battery technology (life, temp sensitivity, discharge sensitivity, etc) to the 296 over time, but at the cost of less uptake. The opposite meaning more uptake, but no R&D leaving the 296 with whatever issues it ends up with after the final model year (of improvements).

I do feel strongly that Ferrari is an incredible company with innovators, engineers, but also very smart marketing and business-minded leaders that are all united and motivated to keep the legacy of their products rare, high value, and alive. Nobody wins in the Ferrari circle when a car like the 296 depreciates like a rusted anchor. But time is what we all don't have unlimited funds to commit to waiting.

 

25 cars on my list now under 400, most are very well optioned, of course the car I have my eye on is stuck asking 60k over sticker. . 2 really nice 2024's in Florida asking right at sticker.

 

If you guys had the chance of getting a GTS at sticker from someone who backed out, would you do it?

Any insight on resale in 6 months?

Cheers

 

Do you love the spec? Seems like that's as big a deal as the financial considerations.

I'll let others weigh in on the value. There's good color in this thread already.