296 Values and Used Market

I think it’s well known at this point. The 296 is not going to make anyone money in the short term or maybe ever when bought from new. That’s OK. It’s normal.

 

IMO high spec or low spec doesn't make a whole lot of difference at the end of the day. One never seems to get back what you paid for the "high spec", it just makes it easier to sell. Frankly all Ferrari's CF stuff is jewellery to me and totally unnecessary. A RC car will move quite easily in general, maybe other more funky colours will be hard to move.

I want a 296GTB but happy to wait to find the "bottom" IMO

 

For me, the problem purchasing on secondary market or even new but not taking delivery cars, is that at this price point, I want exactly what I want with few (if any) compromises. So unless something is that close, I’ll just spec it new or even wait till the next model.

None of the regular production vehicles are unibtanium…


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I agree. Would be a great car to add at the right price. Im happy to wait as well and find the right car if that is something I decide to do down the road.

 

That would be great if you could order a new 296. If you missed the allocation boat I don't know how you would order.

 

I just got an allocation today. Need to finalize spec soon for Feb build. Just decided to take the car this week. Considering a lighter spec for the VS, but how I kind of want to do it right.

 

I have a deposit down - we shall see…

If not, I’ll wait either for “my spec” to show up on secondary market or next model. Or go for SF90 v2.0


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Congratulations! No one knows how things will work out, so, I say do a spec you are happy with, what if you end up keeping it for years.

 

How do you know it's a February build on the allocation? Are you saying you would be going 10R but you know the anticipated build date? Or you just put down first deposit of $10K?

 

If the dealer is being up front from final deposit to 10 R is completely realistic . Once you are at 10 R you will be at 30 ( painting ) in a few weeks , from there things move fast , unless it is this time of year when the August holiday adds a month .

 

do we think the $100k to $200k under on SF90 spiders will contaminate 296 gts prices?

 

For 296: $50-100k under I am looking at pretty soon, late 2024 or 2025..
Remember though sf90 is way expensive so $150-$200 or more under is easier than 296.
Plus 296 better money spend compare to sf90. Even faster across the track, performance etc.

Time will tell Everything revolves around interest rate/economy/Fed..

 

Broad strokes on price drop guess though. Some cars with a few miles and high spec are already asking ~50k under here in the U.S. talking GTB. I have noticed GTS inventory growing somewhat, but again asking is mostly up there.

 

GTSs always have a higher base, so they're going to move at higher prices generally.

 

Dealer told me. Just paid first deposit of $20k.

 

There are still allocations for the GTB? I thought they were sold out

 

They just feel so old and lumpy compared to hybrid, not sure how characterful that is after a while !

 

Someone may have canceled their order.

 

did you inquire? or has anyone taken a shot at this car?

or has anyone taken a shot at the cars at Central FL?

 

Interesting. I got my allocation in March and paid deposit (on GTS). Still listed as "Waitlist" but sort of hoping it goes into production when they get back from the August vacation...

 

Not sure. Dealer always said I could get one, just mattered when an allocation opened up. Differing factors, but likely a cancellation and having good standing at the dealership.

 

I was told at the time of deposit it would likely be a Spring 2025 delivery, so if it goes into build in next say 3 months that probably still holds.

 

GTS appear to be moving without any trouble. GTB low specs are languishing, but higher specs appear to sell. I have been tracking on autolist.com. Unfortunately, there is no way to know the delta between sales price and sticker.

 

I have not on any of those, I am after a specific spec. I have my 2-3 I am watching but 2 of the 3 are still asking crazy high prices and the 3rd is reasonable but in Canada (dealer offered me a pretty nice delivered to my door price) but not 100% sold and also still watching prices continue to drop, so not sure when to jump.

 

Some of the GTSs are moving, but higher specs are still dropping in price. Average price drop seen recently is about $15k across the board with the largest being $34k and the lowest being $5k. Currently almost all those price drops are stickers well into the $500k range. Average original dealer markup in the 10-12% range from sticker based on available public data, or roughly $48k markup average (again based on public data). Actual sales data is not easily available, so can't compare and contrast the actual price paid for the cars sold against what asking was.

Example:
2023 296GTS
Miles:1,871
Ext Color: Blu Corsa
Sticker: $519,375
Original Dealer Ask: $569,995 ($50,620 increase from sticker)
Current Dealer Ask: $544,995 ($25,000 price drop from original ask)
Days on Market: ~52 days.

Even at the current ask, it's a healthy margin above sticker assuming the dealer gave the client their sticker back on trade-in. Margin could +/- either way depending on the trade-in costs.