Devaluation of Portofino after a year

18 months ago 2017 cali t wholesale prices were at 190k for cars that were 240k msrp.

 

Painful


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I am in the SF bay area, and there is only one active listing at $199K for a 2017 California T that has 490 miles. Asking price so maybe $190K sales price. Must be good living in other parts of the country.

 

Born and raised in the Yay Area, myself.

EVERYTHING costs more here. We might as well be in Hawaii.

 

Agreed. I’d be very hesitant to make any mods to an F-car that can’t be easily reverted back to stock before trying to sell it. At least here in Australia, selling a modded F (even just a wheel swap) is very difficult.

 

Having said that, I don't care about resale value. I intend to drive mine into the ground and donate the 200,000 mile husk to charity.

 

Well good for you

 

I think the Portofono is going to be really popular in the resale market for several years. It’s new, flashy, and appears to be a really good car.

Some people don’t want to wait for a new one so just get a certified used and have fun.

I see this market different than the 488. It’s a daily driver. Why wait? And most people will order the options the way 90% would want it anyway. It’s more a color choice than anything else.

 

Not good for me, good for the kids who benefit from the funds raised by auctioning it off.

Since this is a volume vehicle, is likely to be popular, and will be heavily traded in resale, I think this may be the first Ferrari that sees heavy customization. "Authenticity" isn't likely to be a huge selling point for this car, so you may see a new kind of Ferrari buyer.

 

Traded my 2015 Cali T for a Lamborghini in April. Dealer gave me $155 k. They still have it . Was listed for 169k. They dropped the price to 158k. Bet ya u could steal it for 150k or less. Prices are dropping.
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Hey Doc! How's the Lambo treating you?
T

 

Well Tom, loved the car, except one thing. Its way way to stiff. I'm old like you. On the race track, best car I ever had. Around town absolutely great, except the ride. Rather than loose my arese, I sold it. Lost 4k in 5 months. Not bad. Will buy a Port when prices come down. Bought a 19 Z06. 12% off sticker. Enjoying the hell out of it. Nothing like burning up the rest tires. American muscle
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Nice ride Doc

 

Well after 8 Ferrari's , one Lamborghini, I figured it was time to go back to a Vette. Granted it's not a Ferrari. But fully loaded it was 103k. And got 12% off and I ordered the car . Exposed carbon fiber hood, exterior carbon fiber. Truthfully for 4k the carbon fiber looks as good as Ferrari's for a lot less. Interior was about a 8k upgrade for all leather and it's very nice. As everyone says , let the first or 2nd person take the hit on the Ferrari.
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I ordered a C7 convertible with factory delivery. Drove it west from Kentucky. I ordered about every option and it came in at about $75K including the metallic paint. The CF driver's zone was like $1100 TOTAL. You can't get just the wheel in the Ferrari for 3 times that. I understand they get their CF from Turkey of all places.

I got the premium interior and the materials aren't even close to Ferrari or Porsche though. They have some work to do there IMO.

And I'll never complain about "orangepeel" again on any Ferrari after owning a C7!

I traded mine for an Alfa 4c. Didn't get burned because the dealer was also a Chevy dealer. Maybe lost 8K for 12 months and 5500 miles. Compared to Ferrari that's amazing.

 

Mayor, when did u get your C-7. Chevy now has a brand new state of the art paint shop. The 19's and the ZR -1 have beautiful paint jobs. Agreed, paint use to be bad. I'm not saying the interior leather is Ferrari quality, but the car is not 275k either. For what it is , it's a great deal. PLUS a 5 year warranty. Ferrari, will I be back? Probably. Oh by the way, on my Ferrari dash pad had a little bubble on the leather. Fixed under warranty. 12k for dash pad, 3k for labor. Hello Corvette!

 

That's a sweet looking ride! Enjoy it in the best of health...T

 

I had purchased a Cali T to get my 488 faster. I drove the Cali T for 2 months and took it back to the dealer to sell as per our agreement.

The Ferrari dealer basically did nothing for 8 months as I found out they had it parked in a garage that no one could see that it was for sale! So I took it back and scrambled looking for any dealer who would buy it.

The MSRP was $236k and I sold it for $203k. It had 1500 miles on it. But I was very lucky to get $203k as most dealers were quoting me $182-186k. You add the lease payments for 11 months and license, it cost me more than just the price difference.

If you are planning to hold it for one year and 5k miles, consider a $50k difference and if you pay cash, the tax difference as well

Have fun and good luck!

 

Yes I know. I got one of the first Convertible C7's made in the first month of production. I heard they improved it but I haven't see it.

The same goes for the Auto slush box. The first year was the same as the C6. Then they moved to the new Auto 8 and its supposed to be a lot better.

 

You can't even get Apple Car Play in a Portofino for three times that

 

Yah I wonder if that's more "Apple's doing" than "Ferrari's doing". They may have some kind of sliding fee based on MSRP. I don't know but its just ridiculous a piece of software can cost almost 4 grand.

 

That’s going to be an expensive 5000 miles. Why go through the trouble of ordering the new model, waiting for it, and then only keeping it for a year? The first year takes the hardest depreciation hit.
Unless, did you order it to qualify for a Pista?