296 Values and Used Market

Totally agree, I've owned quite a few Ferraris and currently have 2 812s. Ferrari is going in a completely different direction to what I'm looking for. Their cars are getting larger, heavier and including haptics etc. which add zero value to the driving experience. They have wonderful suspension tech etc. but this is only really necessary because the cars are larger and heavier. The other factor is that Ferrari has really gone crazy with its pricing of new cars and playing the "game" to get limited cars is nonsensical. You will lose a ton of money money on the cars you have to buy to get the limited cars (which, aren't so limited) so that seems a pointless exercise. I also think there's increasingly less use case for a lot of the cars. For example take the 12C GTS this is being sold as Ferrari making it more of a grand tourer. The cockpit is cramped and it's got minimal luggage capacity so how is it a grand tourer?

You're correct in your assumption long time buyers are moving on from Ferrari - I know I am. 2 of my incoming cars will be naturally aspirated and limited production - T33 Spider (100 cars) and in a couple of years the Singer Carrera Coupe (100 cars). I have a Singer 930 Turbo (499 cars) coming late next year. I also have a Gemera (300 cars) coming either late next year or early 27 but that's just to see how wild the car really is but actually that amount of power makes no real sense although, being a 4 seater with luggage space makes it slightly more practical than most supercars on the road. I've realised that I'm not the buyer Ferrari is looking for and fortunately, for the moment, they seem to be able to retain customers because of the brands "heritage" which is actually non-existent these days and things like the V12 which is so long in the tooth it's in danger of becoming a dinosaur. There are a lot of better products out there for the money and much more interesting cars to drive.

 

Tesla S

 

I am headed in this direction and I know I am not alone.

 

For those concerned about the depreciation just buy used from 1st owner. Let the 1st owner take the hit and no FOMO; there are plenty of cars out there.

 

I'm not so sure. Under the model of the last few years, people buy the "entry" models in order to qualify for the limited edition models. But they flip those "entry" models, usually through the dealer, with few miles for over window sticker. Those secondary buyers can now buy one brand new for window, so they don't need to buy the used one. That does drive the used values down but may not change the new car demand. Ferrari can always reduce production to hold values up, but that is usually a last resort for most manufacturers. I was a car dealer for 25 years and once had a Ferrari franchise, although that was 40 years ago. It was a different time.

 

Nope, most people won't get the LE versions although they may think they will and no one is flipping over list. Dealers aren't buying these cars, they will only take them on consignment unless it's a trade. Trade ins are $100k+ under msrp. They have new ones they cant sell.

Also, they will not cut production and likely increase they have to show growth. If anything, I bet they come out with some lower end models to help new sales.

Pricing is whacked these days and no one wants to lose $150k overnight.

There are only a handful of people willing to play the game and that is their VIPs.

 

When I bought my first 2 new Ferrari F355's both were purchased with a discount and straight out of dealer inventory
IMO the dealer model for regular production cars will be heading back their soon again

 

The pricing is absurd and cars like the ZR1 only highlight this. FWIW, Porsche and Lambo are doing the same. A 911 GTS is the same price as a fully loaded 1000+ hp ZR1. GT3's can touch $300k. New Lambo Tem is $500k with options. Revuelto DUMB money new. They're all great cars, just way too much money. My 296, which is objectively fantastic, was $465k with no exterior carbon. $500k with the carbon. At $400k, I think it's a good buy new. At $350k, a tremendous buy. So it's basically $75-100k overpriced from Ferrari. Their margins and my eventually loss illustrate that perfectly. I'll keep the car for years, because I like doing that. But certainly I'd rather not lose my ass when I move on.

 

Regarding current prices, the inflation aspect does not appear to be taken into account. The price of new Ferraris is basically the same in inflation adjusted terms. One example: my 2010 599 GTB sticker was 371k. Inflation adjusted to today is $547k. That price is comparable to a similarly optioned 2025 12C coupe.

https://www.usinflationcalculator.com/

 

Not all sellers are aware of this. I’m actively looking to buy. Offered $385 on a 2024 that’s been sitting since last September with an MSRP of $455ish. Consignment car. Seller said lowest he’d go is $435k. Why would I do that when I can just buy brand new and get exactly what I want and a 2026? There are too many cars available to consider paying near $400k at this point, imo. Seller says he will just pick up the car and drive it- which he should! But then expect even less when it is put back for sale.

 

Denial

 

Grigio Titanio used to be a free paint option — now it costs $11,000. Triple-layer paints that were once $14,000 have reached up to $40,000 in some cases. The point is, option pricing is getting out of control. Meanwhile, other brands that weren’t even serious contenders in the early 2000s are now offering high-performance vehicles at more accessible prices, making the Ferrari proposition increasingly difficult to justify IMO

 

totally agree.....if Ferrari over prices the Speciale, I will let our spot go. Lots (and lots) of interesting fun cars to consider.

 

The used car market is great. There are lots of overlooked amazing cars. 991 GT3. McLaren 675. Super, super deals. Cars were so good from ‘05-‘20 that you can’t lose in a lot of cases.

 

This thread has made it on the news:
https://www.motor1.com/features/763044/youre-wrong-about-the-ferrari-296/?fbclid=IwQ0xDSwLBTZhleHRuA2FlbQIxMQABHqQZWErLfquu-SEYoBH6oKb_TMSrTvPb855FdzvCp_35DJZqN6t0VQEssWOG_aem_raJHknXNanzKRjAap0dfOw

 

My 296 GTB will be ready for me to accept delivery within the month. Is it reasonable to ask for, and receive, a discount off MSRP? MSRP on my car is $400k. If I no discount is available, I’ll decline delivery and accept the loss of my deposit.

 

Ferrari dealers used to be negotiable for cars already on the floor but on orders I've not heard of them haggling. Either you're going to eat the loss on the car by taking delivery or [almost certainly] lose the deposit, unless miraculously your salesman finds a backup buyer at MSRP.

Which really brings up the threat of 'banning' or not being able to order future cars or special editions. If that's not a concern, they have nothing more on you than the deposit loss.

 

The problem now is the economy. Not the cars. I think the 296 is an awesome car.

An exotic car or watch is the last thing you should buy if you think the whole stock and/or housing market is about to crash.

I read recently there is something like $7 trillion sitting on the sidelines just waiting.

The values shoot up when people are taking profits. Or when the government is spraying COVID money out of a fire hose.

 

Nope, I make more money than I ever have and im not playing their BS anymore.

 

And that is why I hate dealing with consignment pieces. At least dealers know what their car is worth.

 

Doesn't hurt to ask for a couple percentage off since you waited so long

 

Appreciate it, thanks.

 

Well you’re a G, you don’t count

 

That means they are expecting manufacturing to wind up at the summer break (August)

 

With the amount of financed cars , ( I cannot understand why you do it ) the economic circumstance make sense as the lease fees are way higher than they used to be