296 Values and Used Market

yeah, when I was offered a later allocation that price jump kinda pissed me off. Not sure if I would have pulled the trigger at the lower price, but the optics of it led to me to pass.

 

I could see the puro being a $250k car in 3 years.

 

The Urus has done exceptionally well since it's inception and I believe it's because of the price point it started at. My perf is about 200k less than my Purosangue spec and I got in before the price hike. The Puro will take a big hit starting the 2nd year. People are already canceling orders. There isn't money to be made on these so many are stepping away.

 

I'd bet against that. However, I can imagine it taking a very long time to find a bottom.

It's easy to picture a healthy market for, say, a 25yr old 812 or 296. But I wonder how much interest there will be in a 25yr old SUV. Even if it is a Ferrari.

What do people think? I don't really get the appeal of a fast SUV, so perhaps I also misunderstand the potential for a vintage SUV market in the future?

 

Special cars hold their value, in many cases, due to their limited use case which keeps miles down. Puro’s are designed to be used. When they start hitting the market with 20-30k+ miles. Those will sell for low to mid $200’s.

 

I think it will be in the 300k to 400k range mainly because all of the competition is already there. Quite frankly that's probably all it's worth anyways.

You have a select few Kool Aid drinkers that will take anything they build but the majority will not. I'm already canceling my 296 and in the fence with this one primarily because if how they treat me.

 

Im just not soured on 296, despite what values do. I think the performance is amazing and, at least my spec, the car is as beautiful and classy as anything that’s available. I won’t use it a ton, but I’m very excited to add it for however long it stays.

 

Puro's in the UK seem to already be under list. UK is always a good market to see how things really track as they bottom out there quicker than other places and it gives one a view as to how other markets may fair longer term. 296's in the UK have tanked in a major way as an example

 

Puro will follow a depreciation curve just like the Bentayga.

Just give it a year (or two).

 

When I was buying BB 512s in the early 80's I think the total production was 3,000 cars. Wow

 

the world is a much bigger, wealthier place now. The sheer amount of people that can buy one of these cars has gone up by a similar percentage.

 

New asking low, $339,900 in New England for a very low spec 2022, but very beautiful rosso mugello with under 1000 miles. Asking is still likely just above 2022 sticker, but the same spec 23 or 24 this would be asking under.

 

From an official Ferrari dealer in Germany: https://suchen.mobile.de/fahrzeuge/details.html?id=381543753&dam=false&isSearchRequest=true&ms=8600%3B51%3B%3B&od=up&ref=srp&refId=47d22cf1-e7d7-333f-0eb0-018f296b5e3e&s=Car&sb=p&searchId=47d22cf1-e7d7-333f-0eb0-018f296b5e3e&vc=Car

 

That car has base paint , no carbon only extras are wheels, steering wheel and race seats , low spec

 

Hard for me to make out all the info in German but I'm guessing very similar to my example in the US. Asking at 340k on a very low spec car in the US is a very different picture than was painted just 5-6 months ago, which even then was very different than end of 2023. My only note is that prices seem to slowly be getting back to more of a normal decline, however some seem to still think that asking 50-60k over sticker is realistic, or will say the 296 is a bad car and it shows in its massive depreciation. Example; a couple weeks ago I was shocked that a car asking 50k above sticker showed as being sold, however a short while later the car populated at another dealer, who I called, they told me the car had sold and the price the car brought was just below MSRP (well appointed 2023), so more than 50k less than the original dealer asking.

 

not sure that matters, there IS a market for low spec cars. And if it sells for 320-330k, that seems pretty reasonable compared to original sticker? There are 2023/2024's available for sticker or slightly over. Better specs? Sure. But also 20-25% more expensive, that's a big difference in the days of 10% financing rates.

 

Thy spec sucks it’s the worst on the market. There are very few great spec 296’s on the market.

 

Financing a toy does not make sense for many and certainly not outside the US .

 

This is an underrated comment. Totally agree!

 

That may be because they were purchased for flips to GTS models, so a lot of very basic or resell focused specs.

 

So you're saying....... I, shouldn't buy the yellow car I've been looking at no really, this is not to far off of my spec list, I don't need no fancy carbon stuff.

 

Indeed, many cars advertised in Europe have rather low spec. It's quite surprising, because 1) dealers have a target for optional equipment $ 2) there was a Ferrari policy to favor high specs for early deliveries, as the first cars on the road were supposed to be attractive examples of a new model.
The bad news for the whole second hand sellers is that the low spec cars will be difficult to sell, and will drive prices down for high spec cars (because buyers will be reluctant to pay 100K more for a good spec, compared to the lowest price, even if it's less than the actual initial cost difference).

 

seats are the only important thing imo, most other options are awful value for money but people spec highly because of the perpetuated self furfilling prophecy of "you won't be able to sell a low spec car when the time comes"

 

For me personally , the carbon, especially the exterior pieces, make the car for me

I also like the AF package and stripe which a lot of people seem to not like. I’ve heard it’s mainly the stiffness that’s the issue , but it’s still MUCH soften than my stock Tecnica was


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hate to tell everyone this, but even "great spec" 296's are not moving quickly. Obviously everything has slowed down, but the hybrids (SF90 and 296) are not quite as strong as 458/488/F8's right now.