296 Values and Used Market | Page 37 | FerrariChat

296 Values and Used Market

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

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. jordanfsl

    jordanfsl Formula Junior

    Dec 11, 2010
    567
    Los Angeles
    I don't think these are going to have the value jump that we've seen on the SP1/SP2, F12tdf, SP3, etc. The secondhand market response on the SF90 hasn't been great, and the MSRP's on these XX's are so high to start with. I get that it's a numbers limited one, but I'm struggling mentally to see who is going to pay $2m to buy a used one a year later.
     
  2. tres55

    tres55 F1 Rookie
    Rossa Subscribed

    Sep 18, 2012
    3,512
    Canada
    296's seem to be at or below MSRP for barely driven 2022/2023 models here in Canada now.

    Will be interesting to see how many people bail on their orders now that the cost of ownership won't be relatively nothing.
     
  3. mkraft3003

    mkraft3003 Formula 3
    Silver Subscribed

    Aug 20, 2016
    2,013
    Tampa, Fl
    This far into production I don’t think it’s a large or significant number. Sure, there may be a few but there is someone else on the list that wants to buy the car to drive and not to sell.

    I would hope that anyone that has an order in knows what the market does for new cars after the second or third year. I’d also hope that they would be smart enough to know they are buying a depreciating assets. That is unless they have buried their head in the sand for the past year and still believe we are in 2022/2023.
     
    tres55 and jumpinjohn like this.
  4. jumpinjohn

    jumpinjohn F1 Veteran
    Rossa Subscribed

    Mar 22, 2013
    7,036
    Texas
    Full Name:
    John
    I think it weighs over 5 tons also…

    A new one sat on the dealership lot for 6-8 months while waiting for GMC to sort out some issue. I don’t remember what it was, but they could not release the vehicle. Neat idea but a poor execution I think. But that’s for another thread, I guess. :)


    Sent from my iPhone using FerrariChat
     
  5. Gh21631

    Gh21631 F1 Veteran
    Silver Subscribed

    Feb 24, 2011
    8,479
    East
    I know you are soured on Porsche but I picked up a Targa GTS4 to use along with some others as a daily and it works pretty well.
     
    Thecadster and SoCal to az like this.
  6. SoCal to az

    SoCal to az F1 World Champ
    Silver Subscribed

    Nov 25, 2012
    14,402
    Arizona
    I’m soured on the dealer network, the overinflated prices, the overhyped driving experience. Other than that the cars are great. :)
     
    DefunctNeurons, tres55, rg88 and 2 others like this.
  7. rg88

    rg88 Formula Junior

    Feb 10, 2024
    300
    Montecito
    Full Name:
    rg
    Thank you for this! Exactly why I'm giving my sports auto business to the Italians. The Germans still get my money for watches, headphones, double edge razors, and other things. Equal opportunity spend!!
     
  8. Jo Sta7

    Jo Sta7 F1 Veteran
    Rossa Subscribed

    Oct 13, 2015
    5,056
    Scottsdale/Pittsburgh
    Full Name:
    Jon
    In a personal level I have great relationships with my local Porsche dealer GM/GSM. They’re great. We golf. We’re friends. But if they can sell a car for $80k over I don’t expect to get it at MSRP. I’m not special. And the Porsche market makes no sense the products do nothing to excite me. If anything should depreciate it’s Porsche. Yet here we are.
     
    Gh21631 and KL runner like this.
  9. Gh21631

    Gh21631 F1 Veteran
    Silver Subscribed

    Feb 24, 2011
    8,479
    East
    Shockingly my Porsche dealer is much better to deal with than my Ferrari dealer. Straightforward, no BS or excuses.
     
  10. TheMayor

    TheMayor Ten Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    100,006
    Vegas baby
    The only thing that is "shocking" is you haven't figured this out long ago.

    The classic is to get you to buy a car you don't want to get the car you do. Only Ferrari could pull this off. Can you imagine Chevy telling a customer they have to buy a Chevy SUV to get a Corvette?
     
    09Scuderia, Shack and Gh21631 like this.
  11. Shack

    Shack F1 Rookie
    Owner Silver Subscribed

    May 2, 2005
    2,542
    Earth
    Not sure how long this game will carry on BTW
     
    willcrook and TheMayor like this.
  12. willcrook

    willcrook Formula 3

    Feb 3, 2009
    2,222
    UK
    it's pretty much almost over imo and the only overs cars within a few years will be the hypercar
     
    Caeruleus11 and Shack like this.
  13. Face76

    Face76 F1 World Champ
    Rossa Subscribed

    Aug 21, 2006
    12,099
    The Other Oz
    Full Name:
    M Wilborn
    A Corvette Z06 is not a harsh ride, IMO, especially for a short commute. If you keep it in Touring mode, the ride is not that bad. Biggest issue with a Z06 is that there is less low-end torque which makes short commute less fun. Our Camaro ZL1-1LE with 650 torque is much more exciting but much more harsh.
     
    Jo Sta7 likes this.
  14. Jo Sta7

    Jo Sta7 F1 Veteran
    Rossa Subscribed

    Oct 13, 2015
    5,056
    Scottsdale/Pittsburgh
    Full Name:
    Jon
    The torque never bothers me. Second gear pulls hard. And sounds great. It’s after 130 mph the acceleration tails off.
     
    Face76 likes this.
  15. Jlee504

    Jlee504 Karting

    Apr 8, 2017
    76
    what a turn of events, the dealers I called 2 months ago have been calling me back this last week trying to make a deal...one even admitted its bad. the 296 GTB market is really really saturated but also in the same breath said they didn't want to budge
     
    Shack and jm2 like this.
  16. Jo Sta7

    Jo Sta7 F1 Veteran
    Rossa Subscribed

    Oct 13, 2015
    5,056
    Scottsdale/Pittsburgh
    Full Name:
    Jon
    They’re patient enough not to cut their nose off to despite their face. The dealers have made an absolute killing last 4 years. If it normalizes pre Covid profits, good. They have plenty of cash reserves to sit and wait.
     
    willcrook likes this.
  17. Jo Sta7

    Jo Sta7 F1 Veteran
    Rossa Subscribed

    Oct 13, 2015
    5,056
    Scottsdale/Pittsburgh
    Full Name:
    Jon
    Also to add, the secondary market for all currently in production super cars sucks relative to last 4 years. But it’s normal for 10 years before that. So, all in all, oh well.
     
    Caeruleus11 likes this.
  18. jordanfsl

    jordanfsl Formula Junior

    Dec 11, 2010
    567
    Los Angeles
    market in general is tough right now for anything expensive. Boats, RV’s, supercars, etc. High interest rates and high prices are a tough combo.
     
  19. mkraft3003

    mkraft3003 Formula 3
    Silver Subscribed

    Aug 20, 2016
    2,013
    Tampa, Fl
    Exactly 100%. Not sure how this is any different than before Covid. Not sure if it’s people that have just entered the supercar market in the last 4 years and think that cars appreciate or people that want to try and bash a particular brand??
     
    Caeruleus11 and Jo Sta7 like this.
  20. Jo Sta7

    Jo Sta7 F1 Veteran
    Rossa Subscribed

    Oct 13, 2015
    5,056
    Scottsdale/Pittsburgh
    Full Name:
    Jon
    Bro every car and watch I buy I consider it worth zero. I never think about the value from that point forward.
     
    Thecadster, ryalex, Shack and 2 others like this.
  21. mkraft3003

    mkraft3003 Formula 3
    Silver Subscribed

    Aug 20, 2016
    2,013
    Tampa, Fl
    Absolutely. No point in buying a depreciate asset if you’re going to worry about its value in a few years. Takes a lot of the enjoyment and purpose out of it and life’s too short.
     
  22. cmargosi

    cmargosi Formula Junior
    Silver Subscribed

    Mar 14, 2024
    295
    60540
    Well one thing seems clear from this thread, there are plenty of people who think about cars the “right” way (ie expect depreciation) and buy what they like. Also, these people aren’t willing to pay way over list for a 296. So the market will find a clearing price. Not sure what will precipitate this, maybe year end, maybe as the Summer ends in northern markets. The good news, to me, is that demand still exists in a more difficult environment. This means, if I buy my 296 whenever they get around to making it, and don’t like it or want to go back to a McLaren, I won’t get slaughtered on depreciation. I hope I love the car, drive the snot out of it and lose lots of money when I sell in 5 years. I could give or take the 3rd part, but if parts 1 and 2 are true, then 3 is easy to live with.
     
  23. stevdug

    stevdug Karting

    Feb 4, 2019
    166
    Tulsa
    Full Name:
    Steve
    I'm not concerned about the car and its long run future value, but more the current inflated pricing. If I jump at MSRP or a bit below for a car almost 2 years old ok fine, but for now they seem to just set and hope to get 10k to seemingly crazy 50k+ over. If you can flip your GTB and make a good profit that's awesome for the seller (if you can get it why sell for less) but it seems for now its kind of foolish to pay over, as the inventory grows and I watch cars set now for 7-8 months, still hanging on that big ask.
     
    SMSD likes this.
  24. Shack

    Shack F1 Rookie
    Owner Silver Subscribed

    May 2, 2005
    2,542
    Earth
    Patience and one will get a 296GTB at 15-20% under MSRP
     
    bjhanson3 likes this.
  25. mkraft3003

    mkraft3003 Formula 3
    Silver Subscribed

    Aug 20, 2016
    2,013
    Tampa, Fl
    Need to specify that you are referring to your country, wherever that is. I doubt you will be seeing them 80k below msrp in the next couple of years in the US. Eventually, yes but not anytime soon.
     
    Shack and F1RST like this.

Share This Page