Dealer Demo 2018 488 Depreciation

So I’m looking at a dealer demo 488 2018 with 250 miles. Dealer will not discount the 288k sticker,price, car has 2 years warranty left. They are giving me 15k over on my Porsche GT3 trade and giving me no charge 1yr extra warranty, front clear bra, Capristo exhaust and skid plates.

I am putting 50k down to do some creative finance with Ferrari USA.

Im getting cold feet on the deal, which I have been going back and forth with dealer on now since last Wednesday...3 full days of negotiations. Dealing with this dealer I feel like I am buying a Kia! Some contradictions and slimy dealer attitudes and talk.

Maybe I need to just walk away. I like to drive my cars and on my 2018 GT3 I did 6k miles in a year and didn’t feel like I drove and enjoyed it enough. So with this Ferrari if I do that same mileage a year and sell it in 2 years people will think at 12k miles the car is junk...LOL

with the 50k down and depreciation over the next year or 2 and some miles I think I will take a 100k hit.

Thoughts? Maybe look for a 2016-2017 488? Or just keep having fun in my GT3....

 

Its probably not a dealer demo with that age/mileage/exhaust - it sounds like a two year old customer car that's been accessorised but never driven

 

Is the car titled or is it on MSO?

 

If you're buying it (this very expensive appliance) with Value Retention in mind, consider that it's still just another high-volume appliance, albeit fewer produced than a Camry, and from a halo manufacturer. For comparison, consider your losses on buying the equivalent $$$ value of Audis, Mercs,..... and Camrys.
Buy it to enjoy it. It ain't a piggy bank.

 

If it were me, personally I drive my cars. You will loose money. Big money IMHO. I wouldn't buy a new 488 when I can buy one that's 2 years old. Same car and not an F8.
I drive my cars so the age and another 10-20K miles wouldn't bother me at all. I thought all of them had 7 year transferrable warranty?

Nothing gets a dealerships attention like walking away. It's a buyers market with 488's.. they should be kissing your ***.

 

^^This. That's hard to believe they wouldn't negotiate harder on an ask price. Is 288K the dealer ask or MSRP? Seems pretty low if it is the latter. I have been looking a little as well and it seems like there are a lot of cars that sit around for a long time waiting around for a buyer.

J

 

288k is msrp sticker. I just told the dealer to forget it. 3rd time I walked away and asked them to refund deposit. This time they didn't come back with another better deal. They still will not budge off msrp on this 2018 250 mile dealer demo.

thanks for the reply's guys... i agree with most here and i am not ready to take a 100k bath on the car in a year or so. I will wait a little and see after the holidays where the 488 goes or maybe get a 458. Either way i definitely want a Ferrari.

thanks again for the reply's

 

not sure about a mso... dealer says it was a demo they trailered to shows and used for some test drives and warranty was punched a year ago summer of 2018. This dealer has spewed out so much contradictories during the last few days on things I don't know what to believe. I would of had a better experience buying a Kia!!!

 

I was and still am a Porsche man. LOVED my 924 > 928 > Boxster > 997 and now added a 3-pedal Cayenne. Love the brand, love the quality.

But... There is NOTHING like a Ferrari. I was out in my 360 this morning tooling around and the driving experience is just fantastic. Love my 997 and it's perfection, but the Ferrari is truly a weekend treat. Do it.

 

Thoughts on 2016 488 white Daytona race seats 8k miles 210-215k? Personally to me 8k miles doesn’t seem like a lot of use on a 4 year old car but seems as I learn people seem to think a Ferrari with more that 10k miles is junk and falling apart.

 

If the car is well taken care of maintained properly 8000mls is fine for a 2016, I have owned many 911s u can’t even compare the experience & the enjoyment of a 488 to 911!

 

While I'm not 100% sure with Ferrari, with most other car companies if the warranty is started then the car has been registered to an owner. Mind you, that owner could be the dealer itself, but I think Ferrari has rules that deal with shenanigans like that.

 

I agree
if its a demo
it would have dealer plates as well

 

you are spot on with your assessment

 

My 16 488 has 14k, runs like a top, and has never had an issue.
Don’t let mileage dissuade you from the car you like.
Be sure to post up pics when you find the one for you.

 

Just get the CPO extended warranty and you should be fine with d like that, 210 is pretty competitive for a 488.

 

The mere fact that the dealer has been contradictory in your discussions is enough to warrant walking away.
He is revealing he can't be trusted and that is a big no no.
No need to become emotionally attached to the car, there are plenty of fish in the sea.

 

Listen to rocketman
He speaks the truth
Truer words could not be spoken

 

Why I would never buy an expensive demo that I expected to keep for many years:

1) It is unlikely that it was broken in properly.

2)It is unlikely that it was warmed up properly before being driven hard each time it was taken out.

 

Or any second hand car as it would fall into the same category?

 

No, not the same at all. A demo car is used to show off the car and it’s attributes - for a Ferrari that’s hard acceleration, handling, and phenomenal stopping power from speed. A demo on 1000 miles maybe has wear of a secondhand car with 5000 on it


Sent from my iPhone using FerrariChat

 

Demos get beat on. That is their raison d'etre.

 

This is why nobody should ever buy a used car in Florida.

Keep your GT3.

 

I walked away......long story...they came back 3 times with a so called better deal...but it really wasnt...and they just would dodge the warranty questions on a supposedly new car that didn’t have full warranty....

I’ve cooled off on getting a 488 right now. I signed up for 2 DE track days coming up...with my GT3...one to instruct with my local Porsche club the other just a full day no run groups of advance solo guys.

I a, goi g to wait a little...around Christmas or until February as I am seeing 488 prices dropping fast than normal depreciation which I believe is due to the new F8 getting ready to hit.

I definitely still want a 488...2017-2018, buy an extra warranty and still have years of maintenance for free.

 

Don't buy this car. Go to another Ferrari dealer and order a F8. 35% of F8 will be sold to customer without prior purchase history.

Drive your GT3 until the F8 arrives. The GT3 retains value way better than the 488.

Heck, or just buy a 2015 458 in the mean time and sell the GT3 to private party.