296 Values and Used Market

Highly optioned 296s have depreciated a lot (for Ferraris) but low optioned cars have held a fair amount of their values. The car looks great fairly stock IMHO.

 

Another data point is that F8s are selling higher than 296s, which is comical. I think many buyers are concerned with or do not like the hybrid configuration (which, in my view will change over time). Also a lot of people configured both the coupe and spider at the same time. Hence, many are selling their coupes now for the spider This should disapate over time. I would guess coupe prices stay the same or even increase over the next year or two. We will see.

 

I would go check the SF90 board.

 

At the bottom- Low spec GTS 10%. High spec 20%. So you’re partly correct at the low end of transactions at auction. And I made numerous offers at 20% off and I could not strike a deal. So there’s some data.

And dealers I have spoken with have told me they have been getting closer to sticker than the auctions- that’s at least valid to the extent that they did turn me down my offers.

There are many people making an effort to show the car as negatively as possible (Luddite hybrids). So I’m sensitive to the FUD considering how phenomenal the car actually is.

 

It actually ended up selling for $345k. Highest bidder really wanted it.

Still almost a $120k loss after a year of ownership.

 

Uh…. I know there are at least a couple here on FChat.

Myself, I don’t know anyone (personally IRL) who has had both. Nor do I know (personally IRL) who has one or the other. I have the 296GTS which is a fantastic car for sure.

 

Sorry you are saying you bought a 7000 mile car for $122,000 below sticker? Why would you do that? You can buy delivery mileage car for that.

 

That’s definitely an interesting data point if you weren’t able to strike deals at 20% off. I wonder if any of those cars were on consignment from owners who had unrealistic expectations for what they trade at.

 

Car was owned by Ferrari. They were asking initially $80,000 ish off MSRP.

 

Oh here we go.

 

Haha! Yup.

You will enjoy the heck out of this car!!

 

I love it!!! A lot of fun to drive.

 

Nothing like trying to make someone happy about their purchase. I think he did fine.

 

GTB’s are a different story- as they are much softer.

 

Typical in any chat room. Always someone with their opinion. I’m extremely happy with the purchase.

 

Enjoy, and remember to post driving impressions. Always a good counterpoint to armchair jockeys.
And ignore the azz hats.

 

Good for you. I don't understand what seems like an overemphasis on miles if you plan to drive the car. It's not like you bought it with 30k miles.

I bought my 296 w/5k miles and put on another 4k in my first year. If I bought it with delivery miles I'd be at that same 9k, only it would take me one year longer.

Much rather get the spec I want.

Enjoy!!

 

F8 selling higher than 296 is not comical at all

 

My observation of the market recently.
GTB 20-25% off MSRP from non Ferrari dealer, CPO approved 10-15%
GTS 15% off MSRP from non Ferrari dealer, CPO approved 8-10%

Many buyer on the sideline due to hybrid system reliability uncertainly, Sales start to educate buyer on Ferrari is on the hook in the US under CARB states for PHEV vehicle (296/SF90) to cover 10 years/150,000 miles or non CARB states 8 years/100,000 miles warranty on all emissions control parts which includes the battery.

 

interesting. Have you confirmed this with Ferrari or a dealer ?

 

Cite or source?

This is true for EV batteries, but "all emissions control parts"? What the hell does that even mean.

 

Also, what does a warranty for the battery mean ? the performance of a battery starts to degrade immediately (although not dramatically) as soon as it is used and charged; total failure may virtually never happen but before that there will be range reduction and power loss. What level of degradation is supposed to trigger a warranty ? if it's not specified, and the warranty only covers total failure, it's almost useless.

 

I just bought a low spec 2024 122miles 296 gtb for 138k usd off sticker.

 

In the US it is well known for PHEV (ex. plug in hybrid like the 296/SF90) vehicle to have extended factory warranty to ensure emission compliance. Just do a google search and you will easily find many article talks about this. For example, https://www.theautopian.com/plug-in-hybrids-come-with-an-insane-warranty-if-you-live-in-one-of-these-11-states/

I'm in CA and buddy of mine had a BMW plug in hybrid that's was almost 10 years old, battery when below 70% capacity and dealer replaced with fresh new battery no questions asked. Just go visit numbers of PHEV vehicle forum/group, everyone knows it but it was just never explored into the exotic vehicles like Ferrari or Lambo (ex. Revuelto). At the end of the day, manufacture is on the hook and they know better not to pick a fight with CARB which can result in stop sales...

 

I agree. Buy the car you want and can afford. Mileage isn’t that important. I was watching a Carl Hartley snippet and he said “ If you buy the car you love , when it comes time to sell it , you will not accept a lowball offer and that way if it sells you have the right money and it not you still have the car you love anyway “.
I would add to this and say that each of the cars I bought , I loved to own , drive and look at and when I sold them , I felt good selling cars with good specs to buyers who didn’t get short changed.