Sticker 706K, sold for 435K :eek:
Adding in 8.25% sales tax that’s $329,245 for 2,100 miles, or about $156.78 per mile in depreciation. Not including insurance or gas.
An interesting data point for anyone who cares. I recently toyed with the idea of trading my SF90 coupe for a Spider. I found a new one that has never been titled by accident with a dealer in a different market. Original deal fell through because they couldn't get financed. It has been sitting at this dealer for months and months. I decided to see what the numbers would look like and I always use FFS for my Ferraris and couldn't help but notice they are only willing to loan at a significantly smaller percentage on the hybrid cars versus the previous cars. For instance, a used 812 GTS with low miles you can borrow up to 90% of original MSRP (or more for CPO car). On a used SF90 about 76.7% of MSRP by my math. A new SF90 they're holding firm at the same percentage of window sticker. So you need 23% out of pocket plus all the taxes and fees, shipping etc... Why that matters? Well in all the cars I have financed through FFS I have never seen them with such a low LTV on a platform. So even Ferrari knows these things are absolutely disasters and isn't all that keen on loaning money for them. Further worsening the problem for dealers. They're unable to finance them to willing buyers through the normal mechanisms people usually buy through. At least for those like myself who keep their powder dry for other money making ventures rather than cars.
wow, you would think that Ferrari would step in and stop the madness (better financing, extended warranty, manufacture subsidize the market vs trade in (so the dealers would allow the true retail to be used as the trade in value), worst car ever in resale... so far, you only recognize the loss when you sell... BUT what an amazing car... I absolutely love the car.
I wasn't expecting this when my 296 arrived and FFS, with which I had done two prior purchase loans on CPO 458 and F12, hit me with a surprise demand for a third down payment before they would approve my new car lease. My salesman could never have admitted this so openly that it was because they were not reselling and dropping hard in value. Who wants to tell a guy buying something so expensive that $XX0,000 is going to evaporate instantly?
Will this one be a "hold my beer" moment? https://bringatrailer.com/listing/2024-ferrari-sf90-spider-2/ Image Unavailable, Please Login
Im curious where that room is. Are there a lot of uneducated buyers left? People who just see the car and say they gotta have it and will pay the new price ($500k? $550k?)? Or maybe it's being bought to rent? I just have a hard time understanding that gamble with so much information easily available.
I’ve heard a lot Ferrari buyers prefer to get their cars from the dealer. A couple I spoke with claimed at that price point they want a brick and mortar place to go to with issues. They feel it’s too big of a risk to purchase from an unknown individual. I guess we’ll see if it pans out for this dealer
I mean, if we are factoring in what may have been on the car at delivery (not zero) it's even worse per mile.
Years ago when the 488 came out my thought was here’s a car that will go down as unloved in the lineup, like a 348. Had same thought on the sf90. Sure some people love them but mostly bypassed. The soonish to be revealed successor will be telling. An F8 or something more compelling?
This car always The SF90 I think was an engineering marvel but a design failure... what is telling is that for the XX they changed the rear headlights and we have not seen those headlights repeated on any other model. Which is a tell tell sign that the hierarchy were not pleased with the design and wanted a change. A change of headlights traditionally only occurs in a model refresh not in a VS The replacement model will be very important, I have a feeling it will have teh visor front end and be a budget F80. That is seriously risky... we shall see.
Sold for $570K. Better than I expected: https://bringatrailer.com/listing/2024-ferrari-sf90-spider-2/
Spoke to one of the Ferrari salesman and he said for their market once you get over $85K to $100K in options there is barely any return on resale for the SF90. Below that you may recover some of those costs. Currently he claims the Spider is selling close to MSRP in that range. The seller still has to pay the 7% commission.
My opinion is that the spider has the same problem, and spider depreciation is quickly catching up to stradales. I have seen many high optioned spiders selling for $150k-$200k off msrp.
Given the way new Ferraris are priced, I think going the financing route is a dangerous way to go. These cars are all depreciating assets and it seems hybrid cars depreciate faster. Personally I don’t see the special versions appreciating - they’re priced way to high and they make too many of them. I think this will apply for the F80 on down - just my views.
