296 Values and Used Market

Mine was a 22 and was a MSRP of 392k. The wholesale value was 250k and retail was maybe 300-310k. ( There are 24 being discounted 50k with no miles). Not sure about you, but 150k loss for a 2 year old model is horrific and probably the worst depreciating car I’ve owned (and I’ve owned just about everything). I have to disagree with you on the VS, as I suspect that will depreciate as well, just not as bad as the regular ones.

Best advice is enjoy yours, don’t sell and you never have to worry about losing money. You only lose when you sell.

 

It’s not a bad build. I think its a very strong build- race seats, lots of CF and resale Red/ BLK.

 

Which was yours. I picked up the Grigio silver stone one with 140 miles on the clock a couple,of months back. Was tired of waiting on my gts which i ordered late. Loving the car!

 

I stand corrected. On second look. It’s just a vehicle that needs to clear the market. So many are taking a much longer time. What happened to all the Crypto millionaires inflating the prices of high-end goods. With Bitcoin at an all-time high money should be raining over Ferrari, to me it's a symptom of a much bigger problem. I will enjoy my amazing 296 GTB AF and not worry about this when there are much bigger problems coming, otherwise there would be no 296 or Z06 available. But with interest rates this high, financing a weekend car makes even worse financial sense than ever. But great time for cash buyers. I thought I scored an amazing opportunity and they just keep getting better but I have enjoyed the car for a long period already. It all pans out if you keep it in perspective and don't make a crazy purchase.

 

Here
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I sold mine June 2024 to a major Ferrari dealer (amazing to work with from service to sales, me and my car friends all have high respect for them). The car is now listed at more than 80k lower than original list price, 60k+ under MSRP, and 30k+ lower than the trade-in price. 296 values were okay-ish from summer 2023 to summer 2024, where the bottom of the market went from ~450k to ~400k. Now there are plenty listed in the 300-330 range and absolutely cannot move. Dealers are playing around by adjusting prices up and down and also de-listing and re-listing to make it not look as stagnant, but the reality is that the Ferrari brand is no exception to the depreciation trends of hybrids and mass-produced models. Poor specs, finance rates, and "winter sports car coma" are not determining factors. Unlike the 458/488 era where plenty of cars were minimally optioned (such as without carbon steering wheel), most 296's for sale have at least two columns of options, covering the lift, the carbon steering wheel, the carbon seats.

296 prices have just began crossing with F8 prices (given cars of similar conditions). The 296 successor will also probably be strictly superior within the same groove (mega powerful and playful V6 RWD with sleek design), adding to the VS coming, I don't see how 296 prices will not continue to fall. It is anyone's guess to where the bottom truly is, since there has not been a hybrid in similar market position prior. In my very own opinion, they will be eventually cheaper than the 458, 488, and F8.

 

It’s anyone’s guess where prices will bottom out. My guess is we will see many sub 300k 296s for sale within the year, however. It’s a great car and there will definitely be some awesome buys. I’ve been buying Ferraris for 20 years and I’ve never seen the maket like this. Closest I recall is during the 2008 recession.

 

It seems in Europe used 296 GTB are already less expensive than F8.
In terms of performance, the 296 is really a big step forward compared to the F8 - but performance has been too much for the road for a long time, and I suspect the new level reached is also too much for the track for most drivers.
For ultra exclusive versions, performance is there essentially for bragging rights, so its increase is meaningful; but for the "entry level" sports car it's maybe becoming irrelevant. So it cannot compensate for the distrust suffered by hybrids.

 

Yes, but there are more F8s for sale than 296. Can’t even compare the two cars except one is from 15 years of linage and the other is new design from the ground up. I think people are getting over their skis on the 296 issue. Once you drive one you are hooked. The F8 market has crashed like 25%. I felt it. 296 market is in a very weird spot being sold out for order but dropping in secondary’s market. That has not happened with other Ferraris while production is running and is a sign of the times. Let interest rates fall and this will all change. It’s only a loss when you sell it. Enjoy the dam car, they are amazing.

 

this^^^^^ experience speaks.

 

On mobile.de there are currently 236 296 GTB plus 139 296 GTS, vs 197 F8 (which include tributo and spiders). So that's more 296 by some margin.

 

That's not the US Market. Apples to Oranges comparison. Wait till Trump puts a 20% tariff, if not more, on Imports. That also has the US Market all screwed up.

Here, I ran a Search of 296 GTBs for sale and F8s. There are a lot more low-priced F8s, with a continued downward trend, than 296, which is also in a downward trend.

https://www.autotrader.com/cars-for-sale/all-cars/ferrari/austin-tx?modelCode=FER296GTB&modelCode=FERF8TRIB&searchRadius=0&sortBy=derivedpriceASC&zip=73301

 

I have no clue where you get your information from??? On cargurus there are 176 F8 for sale, both coupe and spider. There are 168 296 GTB and 57 GTS which is 225 total. Last time I checked 225 is more than 176.

On cars.com there are a total of 258 GTB/GTS and there are a total of 200 F8 coupe and spiders. Again more 296 than F8

Please explain where you get your data from?

 

I updated my post with a direct link to all Data.

 

Try again. 188 F8 coupe/spiders and 246 GTB/GTS on auto trader. So your statement that there are more F8 for sale than 296 is not correct. (Use your link and select F8 spider and coupe and deselect the 296 and you see the number. Next, select the 296 GTB/GTS and deselect the F8s).

 

You continue to compare Apples and Oranges. I am comparing F8s and GTB. Not Spyders that fall into a completely different category. Stop changing the comparison to fit your incorrect narrative

 

That’s hysterical. So please enlighten us with the data. I’ll help you since, once again you are wrong! Let’s compare apples to apples

There are 168 296 GTB on cargurus and there are 84 F8 tributo (coupe).
On cars.com there are 78 F8 tributo (coupe) and 196 296 GTB
On auto trader there are 186 296 GTB and there are 85 F8 tributo (coupe)

Before you really put your foot in your mouth, on auto trader they mix in spider and coupe in the F8 tributo number. You can clearly see spiders in that mix. Go down on the filters and select coupe and you come up with the 85 coupenumber. See below and you see the spiders are mixed into the tributo on auto trader

please do that and come back and admit you are wrong and an apology would be in order.




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Then I suppose the correct comparison should be between 296 GTB and F8 Tributo (excluding the spiders from the F8 number); otherwise that's indeed apples and oranges (coupe only on one side and coupe + spider on the other side).
edit : more elaborated on post above

 

They are also the same person that just posted that a 296 AF is still going for MSRP and I pointed out that’s incorrect and gave one that is 120k off MSRP. Nice to live in an alternate reality and ignore facts. Think I am done engaging.

 

those are sponsored ads not part of the count. Keep trying….

 

So you are doubling down and not admitting you are wrong!!?? Be an adult and admit you made a mistake. You will go much further in life when you can do that. You have not given anyone one bit of proof or evidence and it is clear as day there are many more 296 GTB for sales than F8 tributo.

I am sure most everyone will agree but you look like a child with your behavior. Trying to deflect and tell someone to see a therapist shows what kind of person you are. I’m the first one to admit when I make a mistake.

 

Using AutoTrader, which includes individual sales (CarGurus doesn't support private party sales anymore), there are 186 F8 coupes and spiders combined. There are 180 296 GTB's and 66 GTS's. Don't forget that nearly every dealer has at least one or two new GTB's and even a GTS from walk-aways that are not advertised. That could be an additional 60 to 80 new GTB's not accounted for. There are likely less than half a dozen new F8's left in the country. There are definitely more 296's than F8's and the number seems to be running away with no end in sight, especially considering there are nearly two years left of production for the so-called sold out 296.

I walked into a dealer in Florida two weeks ago and I wasn't even in there 15 minutes and they offered me a 296GTB allocation for summer 2025 delivery, with no prior buying history. Times are changing and the 296 and SF90 are experiencing "McLaren Syndrome", something Ferrari has never had to deal with in the history of the brand.

I had conversations with several dealers across the country and they have relented that this is unprecedented for the brand. Wholesale MMR values on 2022 296's with 5k miles is already 250-260k. Definitely unprecedented times. For fun, try to get a trade number on 296 towards a $400k car like a 765LT or GT3RS. You'll get sticker shocked how low-balled the offer is right now.

It doesn't make sense to me as the the 296 is quite possibly the best car Ferrari has made in a long time. They just made too many of them compared to the actual demand. Requiring a GTB and GTS purchase for the promise of a VS allocation hasn't helped. My guess is too many people ordered a car just to get in line or flip. This car is being treated like the GTC4Lusso or Portofino, a stepping stone to get points towards the better car, when it already IS the better car.

 

Great post. It’s an amazing car. I’ll have mine for years. And I guess I’ll lose 100% of the value when I sell it since I’ll have over 5k miles.

 

Out of curiosity, I looked at Ferrari preowned inventory. Guess what, 38 F8 tributo and 159 296 GTB!!

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Nothing fights an argument like a fact.

PWN