296 Values and Used Market | Page 41 | FerrariChat

296 Values and Used Market

Discussion in '296' started by Mrwatchdawg, Aug 31, 2023.

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  1. tontondavid

    tontondavid Karting

    Sep 19, 2022
    101
    Full Name:
    David Leng
    It's rosso corsa. Nero interior with red Alcantara accents on the seats. Carbon everywhere including on the doors. All pieces of carbon outside as well except the engine bay. Racing seats. I feel like there are too many rosso corsa around.

    Thanks for your insights!
     
    NGooding likes this.
  2. rg88

    rg88 Formula Junior

    Feb 10, 2024
    503
    USA
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    rg
    I would try to get a discount. The original owner didn't honor his commitment and sometimes there is, or should be, a price to pay for doing that. Any loss to the dealership will be deducted from the guy's deposit and the remainder returned to them.
     
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  3. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
    2,382
    Tampa, Fl
    Depends on the location. In the US it will be MSRP with no discount for a brand new car. Other parts of the world are different.
     
  4. stevdug

    stevdug Karting
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    Feb 4, 2019
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    At this point I'm not thinking " wow the 296 is tanking in value", more so " wow I can't believe they are still convinced the 2 year old car will bring way above sticker". No I would not buy a random spec anything just because it's at sticker. If I were able to spec the car absolutely yes.
     
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  5. Jo Sta7

    Jo Sta7 F1 Veteran
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    Oct 13, 2015
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    Exactly this. The cost of my car is roughly what I’d have to pay on the used market. But it’s mine.
     
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  6. wings

    wings Formula Junior

    Dec 13, 2003
    846
    Looking at buying a 296. How is the 296 selling? Is a new 2024 296 coup worth a $50,000 over sticker bump to have it now? How long a wait to order a car? 2 years?
     
  7. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    No, probably 50k to 75k below depending on spec.
     
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  8. wings

    wings Formula Junior

    Dec 13, 2003
    846
    That is a complete surprise! Can you explain furthur why that is the case please.
     
  9. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    150+ cars for sale that aren't moving. Supply and demand. If you are trading in vs consignment you will be getting about 80k off msrp. This is the real barometer.
     
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  10. tontondavid

    tontondavid Karting

    Sep 19, 2022
    101
    Full Name:
    David Leng
    Not sure where you are but in the US, you cannot get a new car under MSRP. Pre-owned of course you can.

    There are a few 296s around that are brand new for MSRP. You should call dealers around.

    Cheers
     
  11. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
    15,049
    Arizona
    Just buy preowned with less than 500 miles. who cares?
     
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  12. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    I'm referring to pre-owned. Keep in mind in this case, pre-owned means titled but barely driven. Look at the miles on the cars for sale. For new cars, dealers won't discount but they give you more on a trade. Just a shell game.
     
  13. wings

    wings Formula Junior

    Dec 13, 2003
    846
    Thank you very much for this info. I noticed that Ferrari of Central Florida has 3 cars, 23 and 24 model year with only 100 to 150 miles 0n them and selling for about the original MSRP. The market must have cooled for this car. I thought they would be selling for way abouve MSRP even with a few miles.
     
  14. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
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    Why would you think that? It’s 2 years into the production run and Covid pricing is long gone for every brand. 458, 488, sf90, 812SF, etc all followed the same depreciation trend. First year over msrp, second year at and below msrp and third year under msrp. This is nothing unusual.
     
  15. tontondavid

    tontondavid Karting

    Sep 19, 2022
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    David Leng
    Not sure that’s completely accurate. I’m looking at a brand new 296 GTS and the dealer is giving me less on my trade because it is a « hot » car. They are willing to over allow on my trade if I get one of their pre-owned anything (SF90, 296 GTB, F8, ETC).
     
  16. wings

    wings Formula Junior

    Dec 13, 2003
    846
    I have been away from the Ferrari market for quite awile and am trying to catch up. Thanks for your reply.
     
  17. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    I'm not going to teach anyone how to negotiate but if you are an easy sale they'll see it and act accordingly.
     
  18. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
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    Covid pricing turned everything upside down. Honda accords were going over MSRP. Pre-Covid my Pista sold significantly under msrp. I think I’ve lost money on every Ferrari I’ve ever sold and the only time I broke even or made money on cars was during the 2 years of Covid craziness.

    Almost every brand (the 911 is still an exception) has returned to semi-normal depreciation. Some models are doing better and the depreciation curve is not as steep as the past but the are still depreciating. The Mclaren 750S is already under msrp for spiders. I’m sure every new Ferrari will be the same as the past and will depreciate after the first year, with the exception of VS cars.
     
  19. Formula1Nut

    Formula1Nut Rookie

    Sep 15, 2010
    25
    As a point of reference I am looking at a 23 GTB with 1k miles and a decent spec for 30k under sticker. I don’t think that’s good enough after reading thru the recent posts on this thread.
     
  20. stevdug

    stevdug Karting
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    Feb 4, 2019
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    used low mile 22-24 cars asking close or below MSRP periodically sell. White 22 and a grey 23 recently sold, 23 was asking 10k under sticker, 22 was a pretty heavy optioned car asking was $399,900, and I'm guessing sticker was right around that $400 with its options. For every one that sells there will be 2-3 new show up on my under $400k list. Best deal I see out there is a 2022 demo heavy optioned car asking 55k below sticker and it has been setting for some time.
     
  21. Shack

    Shack F1 Rookie
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    May 2, 2005
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    Its only going to get worse IMO. I am being super patient and expect great deals in the next 6-9 months on all non VS cars of all brands
     
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  22. JDT

    JDT Formula Junior
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    Jul 16, 2020
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    Agreed, the market is softening quite a bit.
     
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  23. tontondavid

    tontondavid Karting

    Sep 19, 2022
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    David Leng
    Yes but this probably applies to GTB ones only.
     
  24. Jo Sta7

    Jo Sta7 F1 Veteran
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    Let’s say, hypothetically, you spend $350k on a used car in 9 months versus $380k today. Is $30k worth 9 months of experiences and joy for someone who has $350k to blow on a toy?

    For me, the answers certainly no.
     
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  25. stevdug

    stevdug Karting
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    Feb 4, 2019
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    Correct, yes sorry i should have specified GTB
     

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