For the entire series from the 360>430>458>488>F8 (and 296 also)..... I think the 488 Pista is the best looking.
seems about right. That’s probably a 470k spec now given the price increases, but big specs are taking the biggest hits. Factor in year and miles and it makes sense to me.
With Ferrari's notorious history with batteries, like simple lead acid and/or lithium ion batteries, I shudder to think what it would be like to be a "beta" tester for a Ferrari sourced hybrid drivetrain. I don't care what anyone says about resistance to electrification, love of ICE, or whatever, but that sentiment has to be at least subconsciously driving some of the resale prices of 296 and the SF90.
I wonder if we took the 333k base, and looked at the options cost separately, that it's really that options are not adding 100% value to the car. They're selling for over base MSRP, but the market doesn't value options like paint, electric seats, hifi, full cameras, etc (ie everything I specified to make it the most useful car).
I've heard a rumor recently that people are getting offered new 296s at under MSRP. These are ones that were ordered but for whatever reason when the car arrived at the dealership, the person who ordered the car did not buy it. Has anyone else heard about this?
I have heard of this and I do believe it's actually happening. There are 170 GTBs and about 50 GTSs for sale in the used market. None of the dealers are posting what they have new, but it seems that every dealer has at least one or even two 296s that were canceled orders when you call in and ask. Mine might be added to that list of canceled orders, my car went 90 status back in early June and it still hasn't arrived and it's a 2024 model. I was told I could have it possibly in July, then August, then September. Now the summer is completely over and I don't know what tugboat Ferrari used to transport it, but it seems to have been out in the ocean for more than 4 months. Unless the boat was hijacked by Somalians, there's no excuse why it would take this long. My 911 GTS was at the dealer in 2 months from start to finish. It only took two weeks to get here by boat and then another week to get to the dealer. And the tracking is amazing, I could see exactly where it was in the Atlantic. I think that there's many people backing out of their 296 orders, which is too bad, as it's a fantastic car, but all these dumped cars with no miles are killing the second hand market. And it is something that needs to be taken into consideration as I never remember any mid engine Ferrari having this many barely-driven examples in the used market, just 3 years into production. I found a used one asking $72K off MSRP, and it's typical to see one for 60K off now. And most of these examples are just sitting, not moving. If you can go buy a brand new one for a light discount, or use one for a pretty substantial discount, with hardly any miles, it makes it tough knowing it could very well lose close to six figures in a year or two. And it doesn't help that Ferrari is jacking up the price once it does arrive. Ferrari is now suffering from McLaren syndrome and may have built too many 296s and SF90s. I think a lot of speculators ordered this car and the dealers allowed it. Great news for those looking to wait and get an awesome deal.
This is the best post on this topic that I’ve read. Of course in a rational world, one would be insane to take delivery of a new 296 with this kind of overhang in the secondary market, but what Ferrari is counting on is their loyal buyers to make irrational decisions.
Watching SF90's implode ito price and wouldn't mind picking one up. Its like the stock market - trying to pick the bottom
I just did a search on Cars.com. While there are 170 GTB’s for sale, 39 of those are 2022’s…with asking prices over $400k from Ferrari dealers.
not a rumour, and not just unsold cars on the lot. I got 13% off a new car order in Feb with the ability to spec it, with pre negotiated price locked for delivery. Skipped the price increase and my paint price doubling, in my invoice it’s £57k off what someone will pay today to spec the same car today. I also offered 15% off msrp a new car at another dealer but was ignored. doesn’t change the fact I still lost £60k in the first month of ownership. But imagine paying full price, that’s £120k loss in a month. Even more if I spec exterior carbon (went for a carbon wrap for £1k instead) and want a quick sale. it’s now winter with a price increase, coupled with 1 year old delivery miles car just coming off the sale restriction period over 30% off (£95k) the 2023 msrp on auto trader. With some calling around, I think its not out of question to order a brand new 296 gtb for 20% off msrp if a dealer has a use it or lose it build slot. Only at that discount will the off the lot loss be acceptable. Image Unavailable, Please Login
Exact same here! Some point all of the prices will stabilize, it's knowing when that sweet spot is.....
I don’t really agree with this. There’s absolutely a joy to spec’ing cars. That is not felt buying secondary. Secondly, exotics are depreciating assets. If your personal decision is to not buy unless the market dynamics are only in your favor, I’d say find a new hobby.
$120k loss? You sold car after a month? By the way this is a UK market phenomena. Not happening in other markets. Perhaps bc your secondary market is so bad.
no it’s not, just buy it if you can afford it. It’s a ridiculous amount of car for the money. Timing stocks is one of the biggest mistakes an investor can make. This is no different.
"but for most regular people F8 is prettier far than 296" This is based on what exactly? (Being curious, not argumentative)
Not the same in the US, I can tell you that. You cannot get a new one for under MSRP, especially if you get to spec it. I think England is its own beast, no one can compete with their prices.
Well and cancelling or not taking delivery of an order is second only to insulting the pope in terms of severity with Ferrari
What Ferrari could do with that is depending on the balance of power - I think this is on the verge of shifting (although I may be wrong of course).
