I think people are forgetting that if a tariff is applied to Ferrari it would also apply to Porsche, Lamborghini and ALL the luxury cars produced in Europe also
Seeing that the base MSRP for the 2022 was $312,986 is this a huge shock?!?! (Without a little context your post does not have the affect you may have intended).
Yes - huge discount from msrp. If you follow these cars on car guru - slowly as they don’t sell dealers are marking them down by $10,000. My 296 is blu corso and red interior - a combination that I really like. My custom ordered c8 corvette convertible is also in this same color scheme - rapid blue and adrenaline red interior. This car was bought from a California Ferrari dealer. Clean carfax, ext and Int are perfect. Problem is that dealers talked a lot of buyers into this scam that if you buy a 296 - hold it for a year - and then let the dealer sell it on consignment/ the customer will get an allocation for a limited production version like the new F80. Seems like maybe they over promised and are now finding themselves with from three to ten customers with low mileage 296 GTB’s in their garage that they want sold. A huge number of 296’s with less than a thousand miles - all for sale at the same time. And then of course the car most buyers want is the GTS and this model are more scarce but when the age is more than a year for this model rolls around their will be a large used inventory of the GTS available all at the same time and they will fall in value also well below msrp. with the GTB - the values could improve once the cars bought as stepping stones to an F80 are sold to “real” enthusiasts who drive their car - the values could recover. But the seller of my car lost $80,500 on my 296 but if my dealer sells him a F80 allocation - he will make up this loss I suppose if the demand for the F80 is strong. Why would anyone would buy a 296 GTB from a dealer? Instant loss of $80,000. I have a deposit on a 296 GTS but when it becomes available in a year or more - this model will be available used at a similar discount used. Early next year the values for the 296 GTB will fall to the $235,000 to $245,000 range for low mileage cars. I also learned that options are rather meaningless on resale. A lot of the used 296’s are low option cars - around $380,000 msrp- with only a few now and then with more than $425,000 msrp. moral is don’t over option these cars unless you will keep it for years and don’t care about depreciation. Another lesson I learned and took advantage of - is that odd colored cars in the Ferrari market are not easy to sell. Mine is blu corso with red interior - a stunning car - but most Ferrari guys want red, white, black or maybe some gray color. And black or tan interior. My Ferrari dealer had five 396’s for sale - under 1,000 miles— and my blue/red car was likely going to be the hardest for sale. It was on their website for over 120 days and priced at $369,999. I offered them $350,000 which did not fly. Then I offered them $355,000 - no sale. Two weeks later I offered them $356,000 and a text came back - “ congratulations”. If I had held out until the first week of December my bet is my $350,000 offer would have worked. So they discounted the car by $14,000 under their public asking price. If my car with the same options was white or ideally - red and tan interior - it would likely sell for more then the $356,000 I paid for my car. I negotiated for my car over a month’s time. I kept sending the salesman 296 GTB listings at $350,000 range - and more and more listings were reducing asking prices to this level. also buyers are afraid of the battery in this hybrid and also don’t like the v6 engine - which is why 458’s and 488’s are holding their value at msrp or above. The F80 - also a six cylinder - could help with reducing the dislike of these newer 6 cylinder engines. Which by the way - Ferrari racing run six cylinder engines which won at lemans, Daytona snd Nurburgring 24, and every Porsche is six cylinder. with used 296’s selling at such steep discounts - Ferrari might end this model as customers wise up to the real market and the new 296’s at msrp become impossible for dealers to sell. Maybe then as all the flippers have resold their cars - the value will rise. In two years when the warranty dies on the 2023 cars - the values will fall and fortunately again. Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
If you think a 296GTB purchase got the seller a F80 allocation….keep reading these forums. Learn what top tier/vip mean. To say it takes a lot more than that is a severe understatement. yes, you’re correct that the interior color is going to hinder resale on yours. You’re incorrect that 296’s will be 235k next year.
There is so much wrong with his post!! Not sure what window sticker he posted but he said he got 80k off his car a few post ago. Doesn’t look like a 430k MSRP. Maybe he posted the wrong window sticker? Looks like a bare bones 296 in a hard to sell color combination.
I think the promise was more, you can keep the car for one year for free - because you will sell it above MSRP and that will cover the buying price and the expenses for owning the car. So in these conditions, there is no real reason not to buy (except the risk that things will turn out differently - this reckoning only impacts cautious people). So many people bought the car without really wanting to spend money on it - and that's the issue, it has increased the sales to a point the second hand market is now overflowed (because typically the second hand market only relies on people willing to actually spend money, to the number of second hand buyers cannot be artificially inflated).
oh wow, you're right about that spec. Nearly bare bones....I can't see the MSRP because the pic is so small, but it can't be more than 375k or so?
True. But that’s a very , very tough spec to order let alone sell used. Going to be a low priced car.
I don't think it was so much a promise as an expectation.....it certainly happened during COVID, and even before on certain models. I did well on a CaliT, 488s, F8s, etc. Was lucky not to lose much on my GTB. As discussed before, Ferrari greatly increased prices to capture any secondary market premium for themselves. Combine that with much higher rates and the fears about a new V-6 model, and here we are. The 296 has actually held up well vs. some others like the SF90. Interesting data point, I've had two sources in the secondary market that I highly regard both tell me that SF90 values appear to have finally bottomed out. 500k was the magic number, obviously more for special specs, spiders, etc. The same will happen with 296's and I bet they will settle around where they SHOULD have been priced before Ferrari greatly boosted prices.
I personally think the 296s will be $25-30k by this time next year. There’s just no reason for them not to be. And don’t even get me started on the SF90. Dealers will have to pay people to take them in a year.
that would be 50k+ under where F8's are sitting in some cases? Seems a bit unlikely, but who knows. Remember that the 296's that have come in over the past 6 months or so also have way higher MSRPs, thanks to the paint price changes. It's going to make it even stranger in secondary when you have an identical 2023 vs. 2024 car, but yet they are 50k off in MSRP.
If the tariffs happen prices of used cars will increase (inflate) commensurate to the tariff percent. Ferrari is confident that we will pay the current MSRP PLUS the tariff. That makes Ferraris 10-30% more $$ vs today. Beyond dramatic price increase. In many parts of the world huge taxes etc are part of the deal when buying anything $$$. If you are on the fence about buying a used late model Ferrari you may want to jump if you believe tariffs are on their way. I do. If you own now, you are likely about to experience a boost in values.
Already happening. My dealer is having a crazy Black Friday sale. Buy a 296GTS and get a GTB for free.
7-day thread ban for jordanfsl, posting political content. Political content is only allowed in the single designated subscribed forum.
@10:40+, Brooks comments on the 296 and SF90 big depreciation hits. (In addition to preferring the Lambo over the 296 Asseto F).
Even more, he notes if tested with carbon seats and less gas it may be up to 500lb lighter. Not surprised, SF is a big bad boy.
Yes he reports on that point quite strongly during the course of his testing. Im actually quite surprised someone here who’s been so vigorously against anyone mentioning value or depreciation hasn’t attacked him like he has demonstrated a tendency to do toward others. Regarding the weights, SF90 is widely recognised as being a serious heavyweight disguised by the clever use of nannys and steering feel, which in ways is much as what ferrari has done with 296 - 296 being significantly lighter but somewhat heavy nonetheless.
By today's standards 3500lbs isn't too bad, especially with that amount of power. I would prefer something closer to 3000lbs but other than a 765, it doesn't exist.
Do you guys hear if 296 values/actual sales are bottoming out? on the fence of buying now versus in February.
