296 Values and Used Market | Page 33 | FerrariChat

296 Values and Used Market

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

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  1. ChrisDiRe

    ChrisDiRe Karting
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    Jun 11, 2004
    202
    Buffalo, NY
    Full Name:
    Chris DiRe
    Is there markups above sticker for brand new titled cars with delivery miles? Asking for a friend who has a brand new 2024 GTB that just arrived and might be looking to unload the car. Lol.
     
  2. Shack

    Shack F1 Rookie
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    May 2, 2005
    2,542
    Earth
    IMO Ferrari is like any other brand on the planet. And they are fast destroying whats left of their brand with outrageous pricing and arrogance. Maybe I am getting older but the Ferrari mystique has gone for me and the latest design language is all the same to me and not particularly inspiring (except I do like the 296GTB). Eventually this will catch up with them like it has with many other companies who believed their own BS. No free cash and recession or almost recession across the globe kinda does that to you whether Ferrari like it or not.

    BTW still want a well priced 296GTB and offered dealer 15% below MSRP for a near new demo one. They said nope but there is no rush...
     
  3. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
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    Tampa, Fl
    Much different scenario than just canceling an order that hasn’t been built yet. One will burn a bridge and the other won’t.
     
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  4. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
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    Are there markups, yes. Are they selling, not so quick. Maybe 10-20k over for a nice spec. Hopefully they are some where where they didn’t pay sales tax, otherwise they will end up losing money.
     
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  5. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
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    Think you are at least 2 years away before you will see 60k discount on a new car. Maybe you should have told them that you want free paddock club tickets to an F1 race along with 15% off.
     
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  6. jordanfsl

    jordanfsl Formula Junior

    Dec 11, 2010
    567
    Los Angeles
    But....but....everyone has cancelled their orders!
     
  7. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
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    I know. My dealer keeps calling me asking if I was interested in a BOGO. Had to block their number. :rolleyes:
     
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  8. Shack

    Shack F1 Rookie
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    May 2, 2005
    2,542
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    Is that a challenge:). BTW in my geo taxes are INSANE so 15% is fully tax loaded. Actual discount is more like 8-9%. So we are getting closer :)
     
  9. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
    2,012
    Tampa, Fl
    Where on earth are you located? I incorrectly assumed US and my statements would only be applicable for that, since I have absolutely no idea on pricing in the rest of the world.
     
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  10. Shack

    Shack F1 Rookie
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    May 2, 2005
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    :) you are VERY fortunate being in the US when it comes to tax on cars. Enjoy it my friend :)
     
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  11. Cigarzman

    Cigarzman F1 Veteran
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    Shack, Gh21631, rg88 and 1 other person like this.
  12. bmcginn

    bmcginn Karting

    Dec 11, 2005
    80
    I think you and I are the only ones seeing the 296 market for what it is, overpriced, overloaded with inventory, and nothing moving because sellers won’t smack a 20% under MSRP bid. And until that happens inventory will continue to build.
     
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  13. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
    8,479
    East
    You aren't alone. It's reality which is why you better want the car and it is a nice car.
     
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  14. bmcginn

    bmcginn Karting

    Dec 11, 2005
    80
    It’s a nice car, in fact it’s a very nice car. I had a deposit on a 296 GTS until I took it for a test drive, after which I decided to pull my deposit. Did I still like it, yes, but I didn’t love it. And while my build spec was about $440k, I was certain it would be over $500k by the time I took delivery and at that level I’m a hard pass.
     
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  15. Jo Sta7

    Jo Sta7 F1 Veteran
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    Oct 13, 2015
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    Diving deeper into this comment, G, it’s interesting. The concept of buying a car that one doesn’t or only half wants because they think they can make a few bucks. The market would be much healthier if only filled by people buying the car bc they wanted it. Not bc they wanted a quick profit.

    For me, I think this car is killer. In the right spec it’s timeless and beautiful. Delivers 98% of the speed of a 765 with far more usability. It just needs to be more engaging to be “perfect”. Hopefully the VS takes care of that. In the meantime, a beautiful car inside and out with usability and that is nimble enough to play with but can run sub 10’s on the street. Yes, I think that works!
     
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  16. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    I agree, my issues run deeper with the brand and dealership. I wouldn't trade your 765 for it though, no comparison in my opinion.
     
  17. Shack

    Shack F1 Rookie
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    May 2, 2005
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    I wouldn't trade or sell my 765LTS ever IMO - just such an accomplished stunning car. As with you my issues run deep with the brand (not so much the dealership). The brand (for me) has become a bit "meh" with nothing exciting and that different that its a "must have". 296GTB is stunning but I can wait for prices to implode based purely on supply and demand. It would be a great car to drive as a DD but I am done losing $100k just because I want it now. It can wait and I will pick up one of the many secondhand or demo's avaiable.
     
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  18. Jo Sta7

    Jo Sta7 F1 Veteran
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    765 stays. I have a hard headed opinion that one day it will be appreciated for how special it is by the broader market.
     
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  19. Shack

    Shack F1 Rookie
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    May 2, 2005
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    1000000% 765LT is in a league of its own
     
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  20. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
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    With Ferrari it is also about your profile so to move up you need to buy cars you may not necessarily desire. In my case, I have bought quite a few (not nearly as many as some) but certainly a meaningful number, still own 3 and also have been doing Club Challenge since 2020. What do I get? Overlooked for a std car in the first round, a significantly delayed delivery on the GTS and nothing else. I did get an early Puro prior to the base price going up however Ferrari is now mandating options that I dont want which pushed it right back up. I am about done and have already listed one car for sale and ready to move the other 2.
     
  21. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
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    Arizona
    So with the glut of 296 (I cancelled my car cause I couldn’t fit- no drive time in it) does Ferrari change their model of regular car and then VS? Regular cars seem to be not moving now that the market and economy has normalized. Gone are the days of buying these stupid things for appreciation- they don’t appreciate in normal times. Last 4-5 years has been an anomaly.
     
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  22. mkraft3003

    mkraft3003 Formula 3
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    Aug 20, 2016
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    One dealer told me the VS may be more similar to the XX and priced accordingly. No clue if there is any truth to it but it would definitely price a lot of people out of buying one (they will still sell every one they make because the loyalist can’t resist).
     
  23. stevdug

    stevdug Karting

    Feb 4, 2019
    166
    Tulsa
    Full Name:
    Steve
    Agree, as I've said before, yes Ferrari is in a different league, but still just like Z06, and Ford Raptors, has now lost its steam in bringing big money beyond MSRP. I have seen a couple 296 move in the last week but the below MSRP example I pointed out last week still seems to be available
     
  24. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
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    I don’t think people are stupid and will burn money for no reason- regardless of their wealth. 296 from what I heard is an amazing car but 500k used to be a lot of money. Man I miss my 488 which seems like a bargain today.
     
  25. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
    14,402
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    Yeah but when is that coming out? 2 years? Deliveries 3 years from now? We are in a perpetual “wait for the next special car” cycle with Ferrari. Nothing is available and then all of a sudden 50 cars show up on autotrader. Look how many sf90s for sale. 296. Romas etc. You guys think Purosangue will be any different? Or the 12C in a few years? Anyone buying a car for investment purposes better stick to vintage and actual collectibles. The modern day altars are meant to be enjoyed and driven. Not parked in a garage.
     
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