296 Values and Used Market

And there’s now a dock workers strike which may delay things far more in the states. How does this work exactly when you say, “I’m out”. You just tell your dealer you don’t want the car and they refund you deposit?

I had dinner with a gentleman last week at the new Bentley unveiling and he said he had a $390k spec GTB, had for 4 months, drove less than 1000 mikes and traded back to dealer for $350k. He told them to keep his $510k spec GTS for fear of getting killed.

 

If I recall correctly, the owners of LaF also had their fair share of teething problems with the car.

So in that sense, yes, you can compare the 296 to the LaF.

 

My GTS went 10R in May is now status 60 , I hope to have it by Christmas. This included triple layer paint and of course the one month factory shut down in August when it was at status 30

 

Very interesting and may explain the price. Wonder if it had some sort accident? @gef3rd since you’ve been following it, what do you know about the above?

 

Yeah, typically they have to sell the car first to someone and then you get your deposit back once it's sold.

 

Driving to play golf around 6am in electric mode. Car just shut down without warning. Wasn’t sure if brake lights went on or not. Had it towed and dealer had to replace the large battery. A pillar had slight damage when I tried to close door with window in closed position. All of this was fixed under warranty. Car has not been in an accident and is in excellent shape.

I was surprised the window was so high. Expecting $410-420 as there was no pricing guide when I originally ordered it. Grigio Ferro was $33K up charge and base price increased over 2022. I’m either “all or nothing” on exterior carbon fiber. I didn’t spec it to flip it, I spec’d what I liked. If it keeps dropping I may buy it back.

Car was always plugged in when at home. I have a SF90 Spider now and have had no issues. Best Ferrari I’ve owned.

 

In the contract if they sell it for less than the invoice price, they can take the difference from the deposit. If the deposit doesn’t cover the loss, they can claim it direct from you.

I can see deposit being insufficient to cover loss in UK where 50 mile cars are listed at £250k

 

Well, we got to under list price in the US on asking price on GTS now...

https://www.ferrarilakeforest.com/inventory/certified-used-2024-ferrari-296-gts-rwd-convertible-zff01sma0r0300888/

Seems to still be the exception, but the car hasn't moved. Not my color, but decent spec.

 

Well to be fair it’s right at list but your point is correct, every single 296 buyer will take a loss when they sell. Mine is sitting at the dealer in storage depreciating every day.

 

The MRSP in the US actually varies from dealer to dealer. The sticker is price is a function of this.

There is no legislation to control the dealers selling off actual list so the less scrupulous can create their own list depending on demand. It has been happening for years .

 

I don’t believe this is correct, Ferrari NA together with the factory set the base price for the US models and the options chosen vary the final build cost. There are exceptions, but for most models options of at least $50k are expected.

 

I’m not too sure about that, are you?

 

Check the price of the options and then check them in other markets , you will find Paint varies in particular as does the application of ‘price rises’ again in the sticker price all this is taken up therefore the sticker can vary greatly from similar spec cars . It is a trap for the inexperienced player

 

Salivating….

 

Oh across markets (meaning countries) yes the base price and options vary, but believe in the US for example there is one price list, but nothing would surprise me at this point.

 

I am sorry but This is not true.. The dealers have nothing to do with MSRP. The price is set by Ferrari NA. There is published price list and the msrp does not vary from this. You can easily add up the options and the price you come up with will be the same as the window sticker.

The window sticker or Monroney label is printed at the port, regardless of which dealer it goes to. This is Federal law.

Now if you are talking about variations between options/paint and various countries, than yes that is correct. The country specific price does not always equal the exchange rate. The reason is the exchange rate is constantly fluctuating. Ferrari in Italy sets the price for options and paints. When the pricing for each country is done they use the exchange rate at that time. 1 year later there could be a large variation in that exchange rate and trying to convert USD to Euro or Pound may look completely out of whack.

There may also be certain options that get priced differently based on various import cost or federal regulations. (That’s a whole another rabbit hole discussion)

In other words the day the price list is set in Italy and transferred to each countries currency they should be consistent. If the paint costs 30k USD that should be 27k in Euro and 22k in GBP, today. A few months from now those numbers won’t be the same and may look very different.

 

The sticker is from the mnfr, how would the dealers manipulate this? Maybe I'm not understanding.

 

And that's asking

 

I been offered total of 5 296s in year 2024 alone.
Rejected all of them. Not to my liking or interest. I rather take SF90 if going hybrid route..

2 were buildable allocations and 3 were sitting at dealers: in both cases customers backed away. I am guessing they rather lose deposits than $100k+ haircut plus no guarantee for 296VS.

296s will be taking a huge dip. No doubt about it...
Great car to own if you do not care for depreciation and keeping/enjoying it for years to come..

 

Sorry to say that outside the US there are no price variations from contract to delivery unless the order was placed before the first production run then there may be a variation . Ferrari NA can play the games with variations as the market is so large , in countries / markets that are not so large there are not the issues of price rises

 

Yes thsi is an on going US issue

 

My GTB has arrived. Decided to check the secondary market out of curiosity and 1-2 year old examples are 50-100k off with sub-1k km on them. Wowza! So many cars on the market...disappointing to see.

Is Ferrari over-producing them or are they just over-priced from the get go?

I wasn't expecting to make money but a 20% value hit in less than 1k km of enjoyment is pretty terrible for a Ferrari! At least the car seems to be an impressive performer.

 

To compare your price at delivery with 1 to 2 Yo cars is a little apples and oranges

 

Again not true and not sure where you come up with your info. (Maybe this applies to only your country but it is not a general principle everyplace). There are no price variations. There are published prices, period. The price is the price. There can be a price increase between contract and delivery but it is published. (You can ask for the new price list at any time).

This is not unique to Ferrari and happens with other brands and in other countries (it varies between region). If you special order a Mclaren the agreement you sign is based on the pricing at that time and it specially says the final price will be set on delivery. There are times where that price increases between contract and delivery.

 

Let’s agree to disagree you obviously have great faith in FNA.