296 Values and Used Market

The price of the hybrid system is 100k, it is visible to everyone on the Eurospare factory spare part site.
As far as I remember, it is not possible to change just the battery.

 

If you want to save more money, you could purchase a lefty. I often drive RHD in the EU and it's never an issue with auto cars, quite easy for me in fact. I wonder if the current discount is temporary as there does seem to be plenty of stock and Ferrari need to drive sales as much as possible to avoid any potential future fines. There are plenty of places in London to drive around, many car spotters and tourists taking pics / video. You will constantly be approached by young ones who are overly excited which is very heart warming and reminds me of me when I was their age, keeps you grounded also. Great experience driving in London, then no need to worry about nowhere to drive, the traffic wont let you get very far! helps keep the mileage down! Due to less customers for lefty cars you are more likely to get a nice discount also. My general discount has always been the same figure of £1000, but this is when not financing a car which can get you a much larger discount of a few thousand.
If you travel back and forth you could get a good model and keep it's value high, 296 / SF90 or any hybrid probably not the best option in this case. Plenty of storage companies if required. Then if you wish to take it back to the US and register it there, you could simply make a few changes and be on the right side of the road. You are indeed in a great position, living what I dream about!

 

Im wondering where you are getting 4% battery degradation in 6 months for an EV. I don’t have a lot of experience with EVs, but that seems like an extremely high rate. And it has me wondering if you are in a climate that experiences distinct seasons, could it be that the weather is so much warmer right now, as I think EV batteries are affected by very warm / very cold temps, and that could be very well a part of the perceived degradation.

As to hybrids, I think the Prius batteries are not the typical LiON you get with newer models, so the time frames etc may not be a great comparison. In any event, the point is correct that there are EVs and hybrids with a ton of miles and seemingly still going on original batteries.

I think Chet’s main point is a great one- the different time frames for the vehicle warranty, the hybrid warranty, and the maintenance program can lead to some confusion. You should also read the fine print, I think it says if you don’t drive a minimum mileage and always keep the car on its tender/charger/ then you may not qualify for coverage.

 

That’s awesome, thanks @Potentialshock. So cost is USD$25,000. Add in at least $5,000 for installation by Ferraris, and you’re at $30,000. Simple math means if you get the full ext warranty, you get bumper-to-bumper, Plus a totally new battery in year eight. That seems like a very nice ROI, unless you plan to sell earlier or think the battery will last a lot longer.

 

In the US for Rivian, for example, it is 70%. I’m assuming it’s the same for Ferrari NA.

 

Three things are affecting the our Rivian loss of 4% in six months. First, it’s Florida, and hot. Second, that vehicle stays outside 24/7 unless being charged, so it is constantly having to cycle on in order to cool the interior and not risk the screens being destroyed. Third, we charge it to 100%…Rivian wants you to charge it to 70%, but that creates extra work to move vehicles around, so we don’t. My main point is that I’m surprised a brand new Rivian lost 4% in a few months. Nothing we can do as it’s above the 70% threshold.

 

For the London fans and owners here; your width restrictors are brutal. I was in London earlier this month for a couple weeks. Rented a new RR Sport. After one successful pass through the width restrictor, the next time, I went through the center. Sure enough, a week later, I got a 100 pound photo ticket; that was on top of the 200 pound ticket for parking an hour too early on the street. And yes, both were conscious decisions (didn’t want to destroy the rims and had no where convenient to park for the hour after coming back from a long trip). Oh, and the Cotswolds…driving on one lane roads, RHD, and in a large-for-the-UK vehicle makes for some entertainment. I haven’t done Tail of the Dragon, but I think the Cotswolds were just as exciting

 

I wouldn't assume, what does it actually state? I am betting they won't replace it unless it has completely malfunctioned.

 

Then why is the battery being sold separately? I know nothing about this seller. Link for reference. https://www.eurospares.com/Ferrari/296/296_GTB/PartDiagrams/0176/BATTERIES?ref=001

 

Correction: For US consumers

There is a federal mandate requiring manufacturers to warrant EV and hybrid batteries for a minimum of 8 years or 100,000 miles. If your battery fails within that period, the manufacturer must repair or replace it under the warranty.
Many automakers voluntarily state in their warranty policies that if the battery’s capacity falls below 70% of its original level within this 8-year/100,000-mile window, the battery will be repaired or replaced, but this does not fall under the federal mandate. So until we know what degradation percentage Ferrari conforms to, we don’t know if/when Ferrari will replace a degraded battery. Seems to support buying the ext warranty plan.

 

I’m coming down on it that it’s safe to assume there will be some degradation (given the sporadic use, charging cycles, heat, etc), and it will be very expensive if you want or need to replace it, and that in the end, the warranty will look like a great idea. Or, just sell before the three-year warranty is up, and leave the unknown to the next owner.

 

The Rivian does not have the battery cooling technology that is used in the Ferrari- which is one of the most important factors regarding degradation.

The Rivian is all electric which takes a greater toll on the battery than a hybrid.

You are misusing the Rivian always charging to 100%- that’s on you.

As I previously posted, the record for hybrid batteries is outstanding assuming the car is used according to guidelines. And even accounting for misuse of hybrids- there are just very few issues.

I stand by my position. Buy life insurance instead.

 

How much is the engine and drive train in an F8? 812?

 

Good points @x z8 . It's our first EV, and we really needed the extended range offered by the extended battery pack, which cost a few thousand extra. So it was a bit surprising after buying it and upon delivery, they told us we needed to charge it to just 70% except in emergencies! That reduces the range from a purchased 307 miles to 214 miles--not acceptable and doesn't work for us--that's a massive difference in range, and at the time, the closest super charger was 40 minutes away. Yes, "technically" it's on me, but we purchased and paid for a vehicle that is advertised to go 307 miles, not one that "occasionally" goes 307. Do you only charge your iPhone to 70%

 

Lakes District would be tough even in a 911!

 

Getting back on topic (my apologies for hijacking this into my Rivian Charging Frustration), I thought it would be a good exercise to see what depreciation has been on the Ferrari 296 and also to get a predictive analytic for the next two years (the model just fits the curve, so please no one get upset...it's "predictive," not definitive).

Assumptions:
- Deliveries in 2022
- Average MSRP $390,000
- Top most expensive 50% of cars currently for sale are removed (reason is there are plenty out there listed for MSRP on consignment--that's not the market)

Personal opinion: I think it's probably a decent predictor, with then values flattening out in two years or less at around $300,000.


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Using the bottom 25% least expensive cars currently for sale yields this, which is quite interesting.


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These numbers seem high...when I look at used 296GTBs, there are a ton of cars already in the 299-$320k range already. 2022-2023 cars. Whereas your data is showing that bottom 25% average is $340k?

 

@momo360 Analysis was done by AI (Perplexity Pro) after repeatedly getting it to refine the model.
Looking at the 178 cars for sale on Autotrader, and taking the 25% least expensive (44 of them), the asking price ranges from a low of $299,800 to a high of $329,985. Assuming an even distribution, the average price would be around $315,000, so you're right; I think the AI got it wrong, and depreciation is worst than illustrated. I'm not technical enough to scrape the data, but I will challenge the AI.

 

Refactoring now...

 

The solid lines ( 'til Jul. 25) in both graphs look exactly the same... only the forecast is changed around Feb. '27.

 

Ok. I asked for specifically the 20 least expensive cars on Autotrader (some will obviously have higher mileage than some). I think this is more representative now; let know. Aa an aside, the exercise makes me more interested in pulling the trigger this year...just have to find the right spec at the right price


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I do scrape the data and post it every couple of weeks.

 

I can't open it, but would love to check it out!

 

Cool! How well does the above graph represent what you see, and do you predict further decline this year?