296 Values and Used Market

Well said, love it! It’s a Want, not a Need!

 

Quick question, as I'm continuing to hunt for my 296: How critical is the front-end lift, or it's fine without as long as one takes inclines at an angle?
Thanks.

 

Depends on where you live and how driveways and entrance to places you visit are. Here in Tampa FL I never really use my front lift on my F8 and my 488 never had one. Some people need the lift.

 

Anyone seeing any good GTB deals recently? All the sub 300 ones seem to have vanished quickly from the authorized dealers lol. Maybe 290-299 is the floor

 

Here is the authorized website sorted for lowest price. 141 total to choose from. Lowest is 304,550. As for deals, a bunch of these are great deals and can't imagine these depressed prices continue on for much longer.

https://preowned.ferrari.com/en-US/r/north-america/used-ferrari/usa/296-gtb/rfcm?z=price-asc

 

GTBs and GTSs....

 

If you replace gtb by gts, the lowest price is $369,890 - so the gts are significantly more expensive.
I wonder what the arrival of the Speciale will do to the market.

 

Everyone receiving VS is not required to keep 296 - with XX hold SF90 til XX arrives.
VS likely 12 - 30 months away, market should swallow up the inventory. There is not another rear engine to order.
Dealer offered me 425 on GTS - around 100k loss. Consign 475k - sell around 450s an lose 6% to the dealer.
My 16M list was 355k 2009 Special list 406k 1015 - 296 is imo a steal vs SF90 no idea why the delta.

 

Great color combo. We have almost identical interior
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So whether you consign or sell outright to them, in the end you end up with -425. Seems only benefit is if you are trading/ordering something else from them, and then it’s worth another -30 in tax savings depending upon jurisdiction.

 

I'm just goofing around - the goal was tVS, hoping it was like XX. I got it in coupe form, sometimes plans go south. The regular version to track version is 5 years, SF90 to XX even longer. Some point you get off the bus gus -

 

Why the delta? Because the 296 is an awkwardly styled overpriced hybrid V6 This isn’t hard.

 

We have almost the identical dog. But I won’t let her on my seats.

 

I live in flat Florida. No need for me here.

 

Strange. Just FUD. I thinks it’s beautiful and the engine is a delight. I believe It outperforms all prior regular production Ferraris and is more nimble and more fun.

 

I live in flat Florida too, but have a very steep drive. I know I can navigate cars with 1” more clearance, past cars I’ve owned, but the 296 I’m looking at doesn’t have a lift. Obv to be safe, get a car with a lift…problem is I’m particular about colors (int/ext) and certain options. These are good problems to have

 

Given the number sold and still on order there is considerable evidence to the contrary

 

The books closed before the depreciation occurred
Lots and lots and lots of buyers regret, which will only get worse when orders become deliveries

 

Mostly- Only for the flippers/ speculators. Most people that actually use these cars- love them.

The car was over produced at its price point. That has little bearing on the car’s greatness.

 

why do newer porsche resales perform the opposite of ferrari?

simple.

it has nothing to do with raw quality or hybrid systems or overproduction

it has all to do with brand culture

if ferrari encouraged miles not money their used car prices would probably be better than porsche's (i man jesus- it is a much more exclusive brand... think about it. its a ferrari. the epitome of an exotic car.

what do i mean by that?

i mean this-

true story- someone i know has a 296 whose rear wheel liner got shredded by track debris (not shredded diamonds, but tire tar). dealer made him pay to replace it. later on the factory quietly upgraded the 296 wheel liners on the manufacturing line. (probably thanks to to this and other guys who reported the same thing).

audi or porsche would have replaced the liner for free and later on when they upgraded the material would have replaced it for free again and probably throw in a mug.

porsche ownership reflects a love of driving- the cars are overengineered and dealers understand their customers for this. small things are improved but not at the cost of the customers. as a result of many generations of this the porsche brand has a different ethos and so therefore does ownership and camaraderie and Desireship so to speak

the esprit de corps that a car maker foments is based upon the kinds of buyers it attracts and how it attracts them --in porsche's case these people tend to actually want to drive their cars and track them. they also tend to treat their buyers with more respect, less disdain, more appreciation.....polar opposite of how the typical ferrari customer gets treated. i think ferrari sees its customers as bodies that can borrow money, bend over, and get whipped and chained and still come back, but for the wrong reasons- not to drive the cars, but to live a lifestyle (and anyone who denies this suffers from Stockholm syndrome). and the difference lies in a complex relation between dealer attitudes, manufacturer appreciation of buyers, and overall brand culture. for too long ferrari preyed upon and encouraged elitism, cronism, hierarchical sales structures- and these were not just limited to special models, but all of them. it attracted a specific kind of poseur (porsche has them too- don't get me wrong, and so do all exotic car brands- and this is why i had 4 R8s and never the lambo equivalent). but the Extent to which this buyership rooted itself and Ferrari continued to profit from it hurt the relationship between buyer and car maker. if a relationship starts wrong based upon the wrong reasons for being together (to anthropomorphise it) it is going to be dysfunctional. ferrari has had a chance to turn this around with the 296. it attracted many non traditional buyers.... but its philosophy hasn't changed.

ps-look at how insanely touchy the 296 is. ----- even hardwiring radar detectors makes these cars throw a CEL and instead of being supportive dealers are unsympathetic and prey-hungry.

i realize that not all porsche or ferrari dealers are all the same nor all owners are the same for each brand. i have met some cool down to earth F owners and very prickly P owners so don't get me wrong.

if ferrari did things different the 296 would go up in price because the brand isn't just beautiful but LIKEABLE and warm. it would be easy to stay in line and pay premiums for the speciale models WITHOUT the stupid point system.

even Leno can't stand them.

 

As much flack as I'm sure you're going to now get @rxbg from some of the more sensitive folks, I have to agree with much of what you said. It's why I owned five 911's (and no, they weren't 918's, but my three different P-dealers treated me like gold), I never wanted the Huracan and opted for the R8 (which I miss to this day and hope the rumors of a Gen-3 are true), and was so turned off by my Ferrari dealer over a decade and a half ago that I never went back. The attitude of "you must buy a used, over-priced vehicle or two from us, that you don't want, before we think about letting you order a new, base model in a few years," was just so over-the-top that I felt like I was supposed to be 20 year old girl getting their first Birkin bag--maybe I was the sensitive one, LOL!

Anyway, contrary to some here, I think the 296 is absolutely beautiful without any of the over-doneness of modern supercars. I love the clean lines, love the rear even though it's not classic, love the interior even with the modern tech that we could all probably do without, and the current price points of less than 100 miles (essentially brand new) for an ask of low $330's seems like a great deal, especially as those are probably going out the door at $320 or a tad less. I'm looking forward to test driving one, as my last Ferrari experience was with a 458 on the track (different car, different experience type). I really hope that my local dealer has grown up and matured some, although after reading your post (which I really enjoyed), I'm a little doubtful

 

Maybe that is changing. I’m a 24 year Porsche owner, 9 cars including 2 997 RS and race cars, Cayennes and 911s. Until recently I’ve had a great relationship with my dealer. Service is still great, but they play the same game as Ferrari in sales. I’m not buying the latest RS, ST, etc. And just want a new Cayenne, I’m at the back of the line. Meanwhile, I’ve had a Stradale and Scud, which I did not order or buy from a Ferrari dealer. We’ve been shopping the 296 GTS. Talked to a bunch of dealers who were all very friendly and provided anything I asked about the cars. Finally decided to place one of the final orders for a new one, based on a posting for open orders that someone put up here. Meanwhile, was visiting San Diego and stopped at their dealership. Extremely nice guys, showed us all of the cars. I mentioned we were going to order. He texted me later that day and offered to take an order from us. Made it extremely easy and pleasant. I was kind of shocked because I’ve never bought a new Ferrari, had no history with the dealership and had heard of the game you had to play to order. Anyway, it was a great experience! Very unlike the Porsche dealership I’ve supported for 24 years and still send 4 cars to for service- and only because their service department does treat me like gold.

 

Also let’s not forget that many Porsche dealers are now taking massive ADMs for certain models- $50-100k.

 

I've had no issue with our local dealership. I had never bought a car from them but have my cars serviced there. Got invited to all the parties and model reveals. I asked for a 296gts and got put on the list and got an order no issue. Lambo dealership was even easier. Porsche laughed me out the door when I asked for a gt3rs but to be fair I had not real prior relationship and called fairly late in the game.

 

Hopefully Ferrari is changing their attitude, but the fact new buyers are getting an allocation seems to me to be more of a function of the 296 not selling than Ferrari changing (I'm not trying to be argumentative to anyone). As for Porsche, yes, they are definitely trying to capitalize on their success (just like Ferrari had done for decades); a good friend had no problem getting a 911T allocation recently, but was told ~two year wait for 911GT3 allocation.