Agree with @mkraft3003 and @jordanfsl My story is in Dec 2019 I bought my 2019 488GTB used with 453 miles on it. Owner ordered it from Lauderdale Ferrari and had it for 1yr. I got it for $50k under MSRP and $10k less than advertised price with a 2yr Ferrari extended warranty. You can't exactly do that now but prices are coming down and I feel they will continue to drop for better deals. I was dead set on selling my 488 middle of last year. My plan was to selling it or trade it spring 2024. I've had a few lookers for it but selling privately is a huge pain. However I do love the car, and I've put 9k miles on it so I feel I am the original owner so I know the car very well. I am now leaning more and more to not selling it or trading it.
I went to Festival of Speed a few times and once with my 488 and parked with the other Ferrari's. I didn't know any better and planned on staying 2-3 hours and go home. I had things o do and dinner with wife and friends planned. I got pinned in there and couldn't get out until 7:30pm. Never again! LOL. I just take the daily driver and park on the street and take a peak at the cars and leave.
yeah, the loading and unloading can be excruciatingly painful at Vinoy Park. Older and wiser now, I make sure to leave elbow room on both ends. The venue itself however can’t be beat, one of my favorites.
Yes, figured given your account creation date. And no offense, truly. You need to separate out the last 2-3 years from the prior 20-30 years before that, because we can all promise you that this isn't "normal". Buying ANY exotic was typically a very expensive endeavor with high depreciation....you were just hoping not to lose your ass, frankly. While mid-engined V-8 Ferraris held up better than just about any other, there were still some losses to be had. And even worse if you were pushed to buy a California, FF, or whatever else in order to get an allocation that you wanted - those cars would drop 100k in the blink of an eye. COVID production drops/delays, super low interest rates, supply chain issues, the switch to hybrid/electrification, etc. have all changed the marketplace over the past few years. Given the current 3+ year waiting list for some models AND the new higher price points, plus the switch the hybrid, I am actually pretty optimistic about values being strong on the 458/488/F8 cars for a long time. That does NOT mean that they will appreciate or that it will be free to own them. I just don't see the F8 Spider (for example) dropping to 70% of MSRP any time soon. There are guys that just don't want a 296, regardless of how freaking great it is.
I ordered my F8 Tributo in June of 2020 and fully expected I'd lose at least 100k over the 3-5 years I'd own it - also knowing I was actually going to drive my car. 2.5 years and 5500 miles later (got it in Aug 2021), based on this thread and what I'm seeing on list prices, I likely not losing any money on the car, which is AMAZING. The downside is that every day I wonder if I should sell it. It's been a great 5500 miles and I love this car, but damn, getting out after 2.5 years and not losing any money would be unbelievable. But, I really love this car and given the prices nowadays I'll likely never be able to own another new Ferrari with my own spec. Tough choice.
that's the problem, what are you going to sell it and get? A 296 is a 400-500k car. High spec 911's are 200-250k, and to me they all look alike. You could get a 720S, fantastic car (with its own known issues) and likely pocket 100k. But is that going to change anything in your life? Probably not.
Great feedback. Seems like prices are holding but maybe not that high though there aren’t many 2022s around either as far as I can tell…
But since dealers allow ads to languish long after an advertised vehicle has been sold, the actual numbers are no doubt less; perhaps considerably less.
Not necessarily true. A lot of Ferrari dealer inventory do not show up on cargurus. So there is probably a lot more. Ferrari palm beach/naples/world wide have 10 F8 and not sure how many are on cargurus.
Cargurus has total F8 from authorized dealers at 122. Preowned.ferrari.com has a total of 149 so there are more available than on cargurus (yes, a number of those could be sold but not all cars avaialable show up on cargurus)
My concern is the post pandemic car craziness is cooling down (certainly not back to baseline yet) and while I am totally understanding of depreciation, I also don’t need to throw 40k in the trash if prices are in a rapid settling phase. I may hold off for now
No one can help you with that choice as that is very personal to you. Your financial situation and risk tolerance is something only you can decide. I can add that life is too short and you never know what tomorrow can bring. With that being said, if a 40K loss is something to extreme than holding off and letting things settle down may be the best bet. Good luck.
I almost bought that exact same car/color scheme. However, after owning 3 Huracan I just could not do it. They are great but just not for me.
Drove the 296 and while it was a very nice driving car, simply too plain looking and certainly NOT what I consider an attractive car (especially for a Ferrari). Now the SF90 is another story. Year ago or so these cars were 1M all day long, now look at the current pricing. The only thing that is tempting me, but still enjoying my F8.
Close, but no cigar! I was at The Motor Enclave this AM and considered making the 34 mile run to Vinoy, but the brutal winds and lack of proper attire convinced me otherwise. So I was an official no show. For the record, here’s mine…… Image Unavailable, Please Login
