296 Values and Used Market

I agree with 09Scuderia. It isn't the % it is the psychology. When the Fed cuts, the media makes sure everyone knows happy days are here again!

 

It's more than 1% and the rates are very high right now for cars especially used. The difference means a lot to some people. I'm not sure about the psychology, if someone is so worried about it then pay cash. I think it's more affordability.

 

They won't fall enough to make a difference especially in the short term. Inventory is gonna keep piling up and there will be heavier discounting. Once pricing gets to a place that people feel like they should step in then it will slowly flatten out. There simply are too many flippers and cars for sale. Other models and manufacturers are seeing it as well but for a current model Ferrari the 296 is taking it on the chin.

Sad thing is that many think they are getting the VS version but those are reserved for the VIPs and above and if any are left just maybe someone gets a shot.

 

Fun question: would you prefer standard paint with all the carbon and race seats or three layer metallic with little carbon and comfort seats. Same price similar color. Comparable specs otherwise.






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If I didn't already get a car, this is extremely tempting... that's so much car for the price. Miller has three with very little miles under $200k!

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I'd look at this one, 1,400 miles asking $199k:
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That's a good question. Right now I am working on the spec. Made 3 at the dealer today, all AF, one Nero Daytona with Argento livery, red interior. One Blu Corsa with Argento Livery, One Grigio Silverstone with Yellow Livery. Blu Corsa is a "good deal" at $13k since its a launch color. The others used to be included, but are now also $13k. I specced most of the CF, because I usually do a triple layer but not this time.

 

I vote Blue Corsa

 

The flip game on the SF90 and 296 is long gone. Spiders may command a premium, but that's just dealers doing what dealers know how to do best. In time they will fall very soon.

 

Exactly, anyone clamoring over that small of an interest rate cut should not be financing an exotic car.

Also, does your dissolution of the Ferrari brand mean you'll no longer be active on this forum?

 

Not necessarily, I may still buy certain cars but on the resale market. Also, I still have 3. I want to say that I'm a big fan of the 296, it's a great car but not great enough to lose 100k immediately after purchase. I'm just done with the game. I'm not having people that make 100k a year dictate how I spend a couple million. **** that.

 

Choices…
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Borrowing for a car isn't always via Ferrari Financial or another type of dedicated car loan. HELOCs, loans against other assets like stocks etc are very common. 'Paying cash' isn't always cash. They pay cash from borrowed money that is levered against other assets. There is nearly 30 TRILLION in home equity in the US. When rates drop and folks have cheaper money to play with (via HELOCs etc) asset prices always increase. The housing market will be on fire as soon as the 30 year rates are under 7%.

This type of cycle has happened before. Our Pista MSRP was 420, we sold it for 550, (I believe) that owner sold it for 475 and the most recent sale was $550k. All of that price fluctuation was due to rates, covid and the prices of the new Ferraris lifting the values of the older ones.

I wonder what the MSRP will be on the 296XX.

 

PS 99% of all people shop payments not price.

 

Blue or Black. If you do Black (the metallic one) do a full red interior that would be beautiful. The Grey on yellow is too common for the AF pack.

 

Of those, blue/silver is my choice. There's a black on red AF GTB with silver stripes that has been at Ferrari here for over 6 months...

 

What interior would you do on the blue? The grey with Blue accents would be amazing I think. Racing seats obv. I vote Daytona seats.

 

On the black I have a red interior. The blue seems to be the overwhelming choice with friends and family. I had this in the blue, but now thinking I’ll change the details and stitching to light gray and match the livery, and do the horse stitch and steering wheel stripe in blu Corsa. View attachment 3718313

 

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Yeah the grigio scuro leather with Daytona inserts. Either yellow or blue. Could switch up the stitching too. Grey with yellow insert and blue stitch (or inverse) would tie the whole car together.

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Hard to find scuro on 296 pics...
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that's 100% true on mass market cars, much less true on high-end exotics. Many, many, many of the people financing are doing so for leverage/tax purposes and not because they need X payment to make it work. Does it happen? Sure, but payment specific buyers on a 400k car are much more rare.

 

You have great taste. I’d incorporate a little more blue on the interior accent wise but overall, amazing.

 

I agree about the blue. Will keep working on it.

 

I like that. I did something like that for the Puro, but with all of the CF from the AF, dark and leathery/alcantara mix is calling. One look I love is black leather with white stitching, so just off white into the light gray will work nicely.

 

Agree on grey to match the silver stripe.

 

Whichever way you go, please spec alcantara seat inserts. Elevates the interior so much over a full leather seat.

…and Blu Elettrico is nice on the 296.