296 Values and Used Market

And with chinas upcoming recession, F may have to back off.

 

Just picked up an STO with 2500kms at very very good price. Stuff is not moving and if it does there are bargains to be had !!!!

 

I agree!! Another reason to buy used RN!

 

Below msrp?

 

Yup. I am not in the US and where I am taxes are insane - so think of it in US terms as approx 10-15% below MSRP with no taxes included. Has special colour and CF everywhere

 

Maybe I wasn't clear, I am saying that on a trade the owner of a 296gtb is getting a value 20 % off msrp from the dealer. Listen the point of all this is that I have been a longtime client and owner of the stock. I love the brand and the cars, I test drove the 296 and loved it. I'm just saying their pricing is now nothing short of ridiculous and I believe new owners will experience more depreciation than they had in the past.

 

Quick review of autotrader, for example, shows coupe prices about $30k below msrp and spider prices $25k+ msrp for the lowest prices. Decent specs.
Hadn’t been following and am surprised.
Are Roma and Porto similar?
Seems rhe SF90 is still well above.

 

Locally there is a GTS with 80 miles and asking price of about $5k above MSRP....so I would think that could be had for sticker or maybe a little less...Too bad it's not closer to my spec.

https://www.cars.com/vehicledetail/ba2426d9-0c7e-43d1-9b7f-cf0f0125b333/

 

Have been watching that to see a drop. Not far off now from msrp as the norm on GTS, which is exciting.

 

The group of GTB cars I have been tracking since June is attached, I quit adding more since I purchased mine listed in green. They are sssslowly still moving, but moving at MSRP or slightly below. Some of the cars on the list that are still higher priced have been up since late last year.

 

Ferrari close the order books on 296 gtb.

 

Sold out? Bit surprising given the move in residuals

 

They already have the next year or two of production allocated. More GTS than GTB will be built going forward as well.

then they move on to the VS, coupe and spider. Then whatever the 296 replacement is. Time marches on as always.

 

Am hearing it’s due to the amount of cars available for sale on the secondary market. People are losing a lot of money on SF90s and 296 GTB and some markets are worse than others. A UK SF90 sold for under £300,000.

 

The Ferrari game is coming to an end in my opinion. You buy cars you don’t want, so you can get the cars you do want and the gains on the cars you want offset the losses on the others. I think the tables are turning, that math doesn’t work any more. I know people that spent tens of millions to become TOP so they can get the LF replacement but that will be priced between $4 and $5m, so where is the upside? Every year you hold it the car owes you another $250,000 in lost interest on your money. These are big numbers.

The other issue with 296 I think is that it’s a 6 cylinder. It will always feel like an entry level car. Don’t get me wrong, it is fast, too fast actually to enjoy on roads and not safe enough to drive on a track. So what is it? Can’t wait to sell mine.

 

In these respect, it's not different from a Pista (although it's faster, and currently a lot less expensive).
The big difference is that the Pista claims to be a (somehow) limited version - which is what matters, now that Ferrari is no longer a car manufacturer but a luxury brand (and why would people interested in buying from a luxury brand care about which car is better or faster ?)

 

Spot on and why I canceled my orders and no longer running in Challenge. Spend all that money and then hope they call your number, f them. I'm out. I'll buy what I want in the secondary market or other brands.

 

What do you mean by closed the order books? I tried several month ago to order and was told that ship sailed long ago for both GTB and GTS.

 

Watch until about 18 minutes:

 

I don't disagree with most of their thoughts, but alot of the discussion seems to be UK based. I wish I could have ordered a new gtb or gts but like I mentioned, was told the US order books have been closed for along time. Preowned US prices may eventually get down to UK levels, but not there yet

 

I sincerely don't understand this myth? Aside from the max top speed you can fully enjoy everything the car has to offer in handling and acceleration within legal limits on the road. Have you never pressed the gas pedal fully down on a public road and lifted off the gas before it became a felony? Have you never taken a corner at high speeds on a road but within reasonably safe limits? You can absolutely safely maximize on the cars performance on decent public streets with warm tires and the nannies on imho. I do this in pretty much any car I drive from Plaids, Ferraris, Mclarens to my AMG 63S.

People get hung up on the V6. I think it sounds better than my Mclaren v8s, revs higher than most, and has better performance with the hybrid addition.

Furthermore I think the 296 is a long term bargain like the 720s because it will top dog or near the top for a while.

I have a tendency to be fickle with my car collection but I will probably hang on to the 296 for long time if not indefinitely. It is so good.

 

A big game and their favourites get the allocations. A lot of backdoor stuff has been going on. Agreed, buy what you want and buy secondhand if you have too.

 

Hi James, your comments are all fair, but “fully enjoy” is in the eye of the beholder, you can’t redline the car in any gear except maybe first or second before you are on the wrong side of the law. I am hung up on the V6 and I’m also hung up on the fact that it is a plug-in hybrid. The entire electrical system is completely necessary. The ICE has over 600hp. Who cares about making the car heavier, more complicated, more powerful? This detracts from all aspects of ownership and the experience and doesn’t add to it. Also it makes the car less reliable, we are already seeing videos and pictures of people being stranded by the car. I can’t tell you how I disapprove of this whole hybrid direction. I think we will look back at this period in the future and think it was idiotic.

 

I think Chris and the boys are mostly correct in the analysis.

 

good points really, the Enzo sells for 8x it's list price now - if the new hypercar is 4m then for it to have the same return it'd have to be reselling for 32m euros which I just can't see happening