296 GTS - What do you think?

what if you insist on switching deposit to GTS? I don't think the dealer can refuse. I'd assume your deposit is fully refundable, so switching essentially means cancel GTB order, get refund, place a new order. Not sure what you meant by "I can't put a deposit today on the 296 GTS".

 

As I understand it u do have to cancel first, u can’t transfer the deposit just like that.


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The GTS books are not officially open yet, dealers are only making their own lists with deposits for now. From what I'm hearing, GTB buyers may get a bump in the line to get cars sooner. I'll keep the GTB only until the GTS arrives and then let my dealer sell it.

Look, the reality of this process and their business structure is that unlike Porsche et al. they cannot charge you market price up front with markups and must charge MSRP. That creates the waits. But the real incentive for a dealer is that they want you to take the car... but let them resell it ASAP at market. Provided that the market is steady, it's a win-win. Ideally you're building a long term relationship where you are getting an extremely in-demand product but in return you're not going to scrape them for every dollar and let them make some gravy on the deal.

 

Many dealers require you to get a coupe in order to get the spyder (and later on, the special models). If you wait until you get the coupe to put a deposit on the spyder, you may miss out as the order books may already be full (depends on demand and the model cycle). Most regular customers will put a deposit on both and generally, the cars will come spaced out enough that you trade the coupe in for the spyder. As others have stated, it's part of the business model.

 

You are correct sir (and yes, you can see the gas flap open next to it)
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Indeed the dealer won’t refuse. But I could see them putting you at the back of the list and if they get more demand than allocations available to the dealer, you’ll find yourself without a GTS.

It’s annoying but Ferrari intentionally creates scarcity of their vehicles and their dealers are left with making their own rules as to who gets preferential treatment.

 

It's pretty much the same game everyone plays, Rolex, Patek, Hermes, etc. It's annoying for those of us waiting for our new cars, but on the other hand, it also protects our car values once we have them.

 

The dealer refunded my money for the GTB and then put the same deposit on the GTS. Then the manager came in and said we couldn’t so I had to put the money back on the GTB. I could only keep the GTB allocation or, put two deposits down and buy both cars.

 

you're not along. I also put 2 deposits for both cars. Basically, I was told the same thing you were told, buy GTB first, then GTS. I think the manager came in stopping the transaction was little irritating and disrespectful. My GTB will come in at Q4/2023, GTS 6-8 months later. you can enjoy GTB for a few months then trade in for the GTS. Unless the market changes drastically, you will not lose money on the GTB. BTW, realistically, even if you were able to put order only for the GTS, I think your priority will be much lower than people placing orders for both cars.

 

Im new to the whole Ferrari game.
How does it work in this case. You buy GTB at MSRP, drive for 6 months, then when GTS arrives you trade it in OR does dealer sell it on consignment and you have to wait for the car to sell?
How reasonable are the trade in values? Are they fairly standardized or will the dealer lowball you?
Any other quirks to be aware of?

I want the GTS but if I have to "rent" a GTB for 6 months to get one I could live with that as long as Im not going to get hosed at trade in by the dealer.

 

You should talk to your dealer on how this will work out for you. Under the current market condition, you will at least get what you paid for on the GTB when GTS comes. I will probably trade in to get tax credit when purchasing the GTS. Take a look the classified section, Roma, portofino M, F8 all selling at a premium. 296GTB will be no exception. The wait list at my dealer for GTB is 70+ already.

 

I think most states allow trade in tax credit, below is a list of states do NOT have trade in tax credit:
California
District of Columbia
Hawaii
Kentucky
Michigan
Montana
Virginia

 

U will lose money on trade in but not so much on consignment… most cars at f dealers are consignments


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“Pre trade”


In states where tax is only on the difference you can sell prior to and the dealer holding the funding continuously until purchase.

I’ve asked for atelier as soon as they are open.

 

Right but from the getgo in 2021 they said I could choose which one I wanted off the bat. It is only because I put the deposit down for the GTB already that switching the deposit over is not allowed according to the manager at this dealer.

 

This is also a valid block of concerns. That is why I just wanted to make the switch. I may call another dealer inside another network that is not owned by the same person who owns a lot of dealers in SOCAL.

 

Typically US dealers have right of first refusal one resale for the first X years. I signed 2yrs on my GTB order. Heard some are 12mo or 18mo. That means only viable option is to sell or trade through dealer. Typically you consign and they take a cut off the selling price - I’ve heard 6%. This is usually still favorable to a straight trade in, but you do sit on the carry cost for your vehicle until it sells which used to be several months pre-Covid.

If you’re not in a state that will give you sales tax credit on your trade, then the next best option is an open ended 5yr lease. You pay a higher rate and it works like balloon financing. Basically you’re responsible for whatever it depreciates or benefit from appreciation. But then the sales tax is only paid on top of the monthly payment. So in a year you usually lose a couple percent on this lease rate and then pay 20% of the sales tax you would have roughly. Not great but better than taking a bath on sales tax when you know you’re trading in for GTS less than a year later. When I crunch the match for California it stops being favorable once you’re into 3rd year of leasing vs financing. If you pay all cash upfront then usually it’s not favorable past the first year. As rates creep up it’ll be less and less favorable as well.

 

While I can't speak to your particular dealer, nor the veracity of their comment regarding how you'd look to Ferrari, I can confirm that once your allocation has been assigned, and your order accepted by Ferrari, you basically have two choices. You can walk away from the order and lose your deposit, per the usual contract, and try to get in line for the GTS, or continue with your current order (as you are currently planning). What I don't understand is the comment regarding a GTS deposit. You should be able to put a deposit on that model as well, and get on line waiting for an allocation (especially if you will be allowing the selling dealer to sell your GTB shortly after purchase). There is no policy that I'm aware of that precludes you ordering another model while you have a pending order.

Jim

 

Same situation and my hopes as well.

 

Mostly correct but there are 2 deposits.
Here in vegas for gtb your 10k are refundable, then when you have an allocation they ask you if you want it and if you do it’s another 15k and the total 25k becomes non refundable… if you walk away you get your 10k back.


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Has anyone actually received an allocation on GTB?

 

Wow, thanks for that, never thought they would be that close together!

 

Understood, but never said there was only one deposit. It is as you stated with most dealers, but as you know, the deposit number varies amongst dealers, as does some of their policies. I know one person for sure that never places a deposit to get on the "I want it" list, he's on the list if he chooses, and only provides a deposit when they call him for the build, with an allocation in hand. I'm not in that category with the dealer, so I had to supply a deposit just to get on the list.

 

Im a peasant too lol
Im leaning to keep just 296gtb. I prefer the gts but might be too rich for me , will see!


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