296 Values and Used Market

Trying to include my wife in the car buying has always led to regrettable decisions long term.

 

I think they're going to make a lot of Speciale coupes. A lot. Aperta still seems somewhat limited.

 

It breathes passion... something else they will not drive either !

 

Mine just wants me to consolidate.

 

I need to do the same

 

I don't tell my wife what color Birkin bag to get, and she stays out of my Ferrari choices.

It's a very harmonious relationship.

 

I don’t tell my wife what horses to buy and she doesn’t tell me what cars to buy… a marriage made in heaven ❤️

 

I bet you have more horses than she does.

 

So true!

 

I think the 849 Testarossa is gonna give the 296 market a big bump. It’s different…

 

I like it. First new car I’ve jelled with.

 

I’m not loving the front end.

 

Another 296 up for auction. 2022 Ferrari 296 GTB VIN: ZFF99SLA3N0285928 for Sale - Cars & Bids
Looks like the other 4 previous ones on this site didn't meet the reserve. I wonder if this one will

 

Idk who would want the GTB when the GTS exists. Maybe the price point.

 

All about price point. The GTS is gorgeous, but it comes at a premium, and it is still not discounted like the GTB…give it another year and the discount (as a percentage) will probably be more in line with the GTB.

 

That was a thought I had as well. First, I didn’t really care for it, as it seems a bit too much Speed-racer (and that’s saying a lot, as I’m a big fan of Speed Racer); they are trying too hard. The 296 is a more simplistic design (I’d call it more beautiful ). Add to that, I’m sure its price point will make the 296 even more appealing. Fighting against those notions are 296 owners who want to chase the youngest red head now and consequently kick out the one living in the house, which will put more on the market and depress prices.

It’s also tough to say how the SF90 replacement affects the 296 market. Could result in a lot more SF90s coming to market as owners clear the garage for the 849 Testarossa. This would further depress 296 values.

As anticipated; 296 listings have increased the past few weeks and prices have dropped a bit as we move into the cooler weather. Equilibrium point seems to be ~$300 give or take. That’s probably where things settle for quite a while based on spending way too much time looking for the perfect car he said.

 

I don't think the 849T will play much of a role in the 296 market. Different markets. There are fewer buyers at $650k-$700k+. Factor in the tariffs and taxes and the 849T could be pushing $800k all in. Much different from $300k-$500k.

 

Will probably have a major effect on SF90 prices which unfortunately are already in the wrong direction

 

My perspective is, and being that I don't care since I bought my 296 expecting even more depreciation, is that the 296 will not raise in value anytime soon and will not get more valuable. Firstly, I think the 296 is the best Car in class, and I love and drive mine quite a bit. So not saying the car is not worthy of being on a pedistal, but the fact is I think people are going to balk at Hybrids and the Battery issues. By Battery issues I mean they are going to wonder in another few years if they should get a 296 that is a bit older and might need a new Hybrid battery at a silly Ferrari price point. I also understand and know that Battery tech is jumping forward extremely fast, so a Hybrid Battery that is currently supplied with the 296 now will probably change to some new improved design in just a few years. So is Ferarri going to support our battery in several years? By that I mean are they goiing to have stock of an older style battery in 6-8 years when they have newer stuff and the 296 Hybrid Battery could be old school? I'm not sure about that, so getting a replacement might be harder when that time arrives.

Additionally, electric Cars are proving to be absolutely disposible Cars, meaning the tech upgrades, and the cost of a replacement battery is not worth the investment. For example you have an older Tesla, Chevy Volt, or other electric Car from 8 years ago... are you EVER going to waste the money to put a new battery in one of those cars when the Car is now obsolete in features, missing the new tech and not even worth the cost of putting a new battery in it? No you won't, so the car is basically a disposible vehicle. Now a 296 is a Super Car, and probably not disposible, but if you can't get the Hybrid battery in 10 years, or its "Ferrari expensive" and hard to get, then is anyone going to even want a 296, SF90 or whatever then? I don't think we will be able to think of the battery as a piston or some other relatively easily replaceable part because they engineer in different parameters, protocols and other stuff into the battery packs instead of having a standardize protocol for all Hybrid batteries.... so I just see a future of difficult to get batteries that might not be supported. Lastly, Ferrari, Lamborghini, Porsche all have these batteries that you cannot rebuild, and they have lock-outs on them in the event they go bad, so you can't just replace bad cells inside because the chips on the circuit board will lock-out being able to use the pack once it goes into any state of service they don't deem as viable, so even if you rebuild it you will still need to unlock the software, and Ferrari won't allow that. So its a slippery slope on value judgements on the modern hybrids.

 

On the other hand- what if the batteries don’t fail in 10 years? What if they last 20 or more (hybrid cars with inferior technology are already lasting over 100,000 miles without incident and these cars utilize their batteries more). What if the cost of the batteries is expensive but not astronomical? What if the cost goes down? What if 3rd parties batteries work and the software is not an issue. It’s in Ferrari’s best interest to minimize or eliminate the issue if they want to move forward with a hybrid platform.

Most new cars depreciate. Most new models are superior to the old models. Nothing new here. We can always wait forever for the next model, never enjoying any car. I think the 296 is the most incredible sports car I have ever had by a very wide margin.- it’s why I am in the market for a 2nd one. They will depreciate and there will likely be better one in the future. I’m in the present and its never been better.

 

Battery technology has not improved that much in the last decade, and is certainly slowing down. My wife has a 14 year old Tesla and the battery in it is not significantly worse than the battery in a brand new Tesla (and in some ways is actually better). In addition batteries are a commodity, as I'm sure you know. The only thing that would prevent a third party from making a replacement battery is the communication with the cars computer. I would be very surprised if nobody has figured out a way around that in next decade.

The whole disposable EV thing argument is silly. My wife's 14 year old Tesla still has 92% of the battery capacity it had when it was new. Even if it was only 70% thats still plenty for it to be a useful vehicle. Yeah, nobodies going to pay to replace the battery in a 15 year old Chevy Bolt, but nobody is paying to put a new engine in a 15 year old Equinox either (and those engines are breaking way sooner and more frequently that the batteries are wearing out).

 

I agree on the surface...I was thinking in terms of the trickle down effect, not direct effect. Meaning I have an SF90, I want the new shiny Speed Racer Mach 5; I mean 849 Testarossa, so I put my SF90 up for sale, further depressing values (supply-demand). So the used SF90's drop to middle/high 300's. That can put pressure on new 296 orders/sales, which can put pressure on 296 used values, especially as there would be buyers who want an SF90 over a 296. Of course, this is all speculation, but in general new models of cars, even if slotted higher up, can have a depressing effect on values of older/used ones, unless prices on the new ones are raised dramatically. One example is the 911T coupe--'24 and '25MY used cars are going for original MSRP and MSRP+, somewhat due to the MSRP being raised on the '26MY cars. But unless Ferrari dramatically increases the Mach 5 price, I think odds favor more of a dilution in values than the opposite. Note: I said "odds," not a guarantee! Differing opinions are what makes a market

 

Well, if all that happens it would be great.... I'm simply trying to be rational, logical and observe from a "future buyers" perspective. The future buyers are the people that will dictate the value, not me. So, I thought I clearly explained why I have this opinion when I wrote this below a future buyers perspective...

"I think people are going to balk at Hybrids and the Battery issues. By Battery issues I mean they are going to wonder in another few years if they should get a 296 that is a bit older and might need a new Hybrid battery at a silly Ferrari price point. "

That statement is a logical truth and I believe many will think like that.

Are you saying the above quote to me xZ8? I don't know if your saying I'm waiting or not enjoying the Car.... Please note I bought my 296 within weeks of a friend suggesting one, there was no fence sitting, waiting for more depreciation. I drive it most likely a bit more than most, since I live in a rural mountain road area. I go to the garage and love cleaning the Car and the Engine and keeping it in showroom condition, I mean its freaking flawless because that gives me part of my enjoyment in the Car. But do I NOT care about it value, or it depreciateing or gaining value....not at all...because it simply "is what it is" and I can't control it or be worried about things beyond my control. I love the car, but regardless of brand I will always be honest with myself and not dismiss the facts as I see them.

 

The nero interior with comfort seats and black wheels really hurt this spec. Exterior color is excellent. If it had silver wheels, racing seats, and light brown or crema interior, the car would be a very unique and desirable(IMHO) spec and worth a lot more.

 

The technology is the whole package, communication, interface, software, the proprietary nature of each companies batteries and nothing stadardized, and yes it is improving dramatically, if you don't think so its not accurate. You actually say the communication would prevent a third party from making a replacment, which was my point in saying it might be super expensive to replace the Ferrari battery... so do you think Ferrari is going to license this communication protocol, or its battery interface to 3rd parties? Abosolutely NOT. Nor will Porsche, Lamborghini and so on, it all proprietary stuff. So we are sort of left with Ferrari... anyone going to take a guess on if that will be a reasonable cost, or easy to obtain after several years?

For example, on the extremely simple Low Voltage battery front...... Ferrari put a A123 Systems Battery in their Pistas and some other models, they take a long time to get if yours fails, they charge you $7k to get the conversion kit if you want to be able to be able to use an AGM Battery in your Pista instead of the proprietary Ferrari Lithium Battery which cost roughly $3-4k. And you know that the coversion kit should in fact only take about $100 dollars, because they do it for the Porsche Cayennes for thier proprietary Lithium Battery which is also the A123 Battery. So there a pretty high mark-up that I can use as a real world example of my opinion on the future of batteries IF there is any failures down the road.

Well Jaguar, maybe you need to visit the "hood" a bit more.... I think perhaps if you drive down to East LA a bit you might just see that the 15 year old Equinox can be extremely viable. If it has a blown cylinder head gasket, they can easily fix it, or say they blow the motor, well that v6 is used in 10s or thousands of vehicle and they can get a motor at a junk yard pretty easy....for a few hundred bucks. Now try finding a replacement battery for your Wifes Tesla... your not going to waste your time on the DISPOSABLE EV, and won't find that battery easy. That is my point. I'm not saying it a disposable lighter, it just not of a value to anybody, but that Equinox is at 15 years old for the low-income family is.