296 Values and Used Market

Probably not much. The VS won't put additional price pressure on the GTB/GTS for a long time. I can see the VS settling in at around 400k-500k in a few years, so cheaper than the Pista and 458 Speciale. My reasoning is that the 296 is definitely trending to be cheaper than well-conditioned F8's and 458's, and possibly 488's, so its VS counterpart will also be cheaper. There are two additional factors: first, I speculate the 296 VS will be more mass produced than even the Pista; second, there is a high chance that the 296 will have a very similar successor, so the 296 VS will not be the definite VS model of the current v6 hybrid line.

Getting back to base 296 prices, by the time the VS price settles, the base 296 will be sub 250k so it won't matter. The 296 GTB/GTS values are more correlated with SF90 values (consistently around 100-150k under the SF90).

 

looking like it will be closer to your guess at the close

$399k! oof

 

Sold at 399k

 

$111K lost for 327 miles - that's a sharp drop.

 

You called it! I think fair for both buyer and seller. Nice trade all around.

If you include buyer’s fees should be $406,500 I believe.

 

plus another $30k in sales tax and the agita of dealing with the dealer

 

seat rub is fixed with some special tape by dealer it is a known issue.

yes these cars have lost 100k but from there it is leveling off.

 

Doesn't make sense - I wouldn't sell mine 100k off msrp - maybe 35k

 

The guys getting their hands on these amazing cars for a discount are very very lucky. Every time I take mine out for a nice long drive I notice subtle things that although subtle, they took lots and lots of engineering and thought process to implement.

Take noises inside the cabin for instance. I used to wonder why every single piece of gravel picked up by the Michelins needs to shout its presence INSIDE the car. Well, it's a way of communicating the surface of the road to the driver. The number AND size of these suckers is clearly communicated. And the more input the driver has, the better the decision making.

Another little detail is the windshield washing feature. I'm used to having spray nozzles drench the glass first then the wipers doing their thing. Not so with the 296. The washing fluid actually oozes out right on the wiper blades. Why? So that the driver's vision isn't momentarily impaired by a large spray of fluid.

I means, if guys are picking these gems up at a discount of $100k, that's absolutely no reflection on the car, but maybe it is a reflection on the owner who lets it pass through their fingers.

 

Don't disagree with anything you said, esp. about the car.

As to the resale, I think it's more about how Ferrari mispriced the 296 to begin with.

 

Would be interesting to see how they price the Speciale.

 

This is exactly what I was saying about all of these overpriced 296 GTS for sale at Ferrari dealers across the country. Colors aside, this just proves my point - cars listed at or above MSRP are just a total joke.

 

Not sure what leveling off means. If 50% depreciation after 3-4 years is leveling off then I guess I agree. I just think they lost a segment of buyers who bought Ferraris knowing they had strong resale values. Now you need play money to buy them and not be shocked if you lose $100k a year in depreciation.

 

Hello McLaren! I sold my 296 GTS after 6 months and took a 30K haircut, but mine was a $404 Sticker. Great car, but certain things were just not for me.

 

We are just starting to look for a GTS. Are all of those listed on Ferrari Approved preowned and titled? Some have ridiculously low miles. Is it going to be reasonable to offer $400 on a $500 build now?

 

Yes it is, my friend bought a brand new Rosso Corsa / Black nicely specced car that was a $460k sticker with 100 miles for $400k and this was at least 50 days ago or so. No harm in trying. Remember as long as it is a big sticker, the more off. If it is a smaller MSRP, I don' t think you can get that $100k off.

 

Worst they can say is no. Offer whatever you want but if it's from a dealer they will probably give you a quick no.

 

Ok so the market would then be offered at $35k below MSRP for a car worth $110k below MSRP at most.

There are over 100 296 GTS cars for sale in the US and probably double that if you count the ones at the dealers that they haven’t listed. The sale today tells us no GTS is going to trade with a 4 handle going forward and more will hit the market as Speciale Aperta people start selling. Sorry, don’t shoot the messenger.

PS people looking to spend $550k to $750k on Speciales and Apertas are going to get killed too. They are going to make as many of those as they can sell.

 

Was at my car storage shop today and they fired up a 296 GTS for me and revved it out a bit. Maybe it’s better while driving? Idk if it sounded any better than a Cali TBH.
?

 

You should make that offer - you probably won't get anywhere. There is at least one with delivery miles asking $100K off MSRP, but it AF spec. I offered a dealer $50K off MSRP on one that had 3K miles and they declined and it is now almost to $50K off MSRP listed...Lot's of people in denial or consigned, etc.

 

it's an expensive game for sure, especially if the dealer is making you buy a 296 to qualify as some have reported today, you're losing $110,000 on that then have to spec a 296s up to $600,000 + tarrifs of 10% so $660,000

so in total could be costing you around $800,000 to get into one + potential depreciation

 

I think non-dealer cars are always going to trade for less than dealer cars because like others have said there is a hassle factor if getting it inspected and an extended warranty on it which I think most owners do..

As for that auction if it was $110K off MSRP my guess is a dealer sale would have been closer to $430K-$440K at an aggressive dealer...

If I can find a 296 GTB for 300K pretty well spec'd with Carbons and low miles I would do it, I do think there is more downside to $250K but at least I'm at the bottom end of the curve vs the top..

 

If you were on another planet for five years and came back down to Earth and saw these numbers for a somewhat entry-level car with a V6, I think you would be flabbergasted. I think the $800k number is probably correct when taking everything into account. I just can’t believe that clients are OK with that. Are people not adding it up, or do people not care? Honest question.

 

Im more concerned about owners experiences that say they sold or are selling because of battery or starting or other little gremlins that add up to unreliability. Those cars seem to be the near $300k mark and will likely present the new owner with headaches. Hence the lower price. That’s a lot of what caused my hesitation.