California Pricing | FerrariChat

California Pricing

Discussion in 'California/Portofino/Roma' started by Tony1, Jul 24, 2021.

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  1. Tony1

    Tony1 Rookie

    Jul 26, 2020
    10
    Full Name:
    Tony Wong
    After missing out on a first generation California sale last year I decided to wait till this year and of course we all know what happened - prices bumped up anywhere from 30 to 40 per cent.
    The prudent person says it’s probably better to wait since all used car prices and many other items are up because of pent up demand, lack of chips and supply chain disruption.
    But the emotional side of me says, well, we could have croaked during the pandemic, so what are we waiting for even if it’s going to cost $40,000 more?
    So the question is, do you think California prices over the next year or two will go back down to earth as will most goods once we get through the pandemic. Or, is this the new normal in pricing?
    What I am worried about is whether the California is having kind of a Porsche 911 moment, where all prices went up and just stayed there permanently. On the other hand I’d jump off a ledge if prices receded next year after I paid more money than I should this year because this was really a blip in history.
    Or maybe I should just buy something that never really went up in value like a DB9 (completely different car, but will scratch a mid life crisis itch for half the price). All thoughts welcome
     
  2. technom3

    technom3 F1 World Champ
    Rossa Subscribed

    Mar 29, 2007
    14,725
    Phoenix AZ
    Full Name:
    Justin
    If losing the money would really make you very upset I wouldn't buy the California. The db9 is probably a decent idea as it's depreciation will likely be more gradual.

    You would be smart to buy a dbs. They have seemed to just hang out at that 100-120k mark. Great car. They have been at that price for years and years.

    I love California's but I think the odds of sliding back are fairly high
     
  3. Tony1

    Tony1 Rookie

    Jul 26, 2020
    10
    Full Name:
    Tony Wong
    Thanks for the input! Yah with the 40k plus in savings I could almost buy a cheap DB9 to get me through the summer. I do love the DBS last of the manuals. Agree the California is a great car but perhaps not as iconic as a 911 so maybe this is not a permanent ceiling
     
  4. Tony1

    Tony1 Rookie

    Jul 26, 2020
    10
    Full Name:
    Tony Wong
    The great fear is that California pricing is the new lumber pricing Ng and will come crashing back to earth
     
  5. SLViper1

    SLViper1 Formula Junior
    Owner Silver Subscribed

    Mar 25, 2014
    742
    Nashville/Destin
    Full Name:
    Steve
    You can still buy a excellent low mile 2013-2014 Cali 30 / CPO from Ferrari Dealer $130K (insist on the CPO inspection)
    Cheaper if you play the, I can save a few thousand bucks and buy a Ferrari from XYZ used car lot (This will cost you more in the long run)
    What makes you believe the Ferrari would all of a sudden drop faster than the Aston?
    How long before the best and latest, normally asperated version (Cali 30) with low miles & warranty drops below $100 K? they never did before the run up and I seriously doubt they will anytime in the next few years.
    Ask yourself why has the Ferrari gone up and the Aston not?
    Answer: only one is a Ferrari on the street or in your garage
    Buy the Ferrari and enjoy it now
    Steve
     
  6. Tony1

    Tony1 Rookie

    Jul 26, 2020
    10
    Full Name:
    Tony Wong
    Thanks for the advice for sure the Ferrari brand outshines just about any marque. But I guess the worry was that it went up 40 or so percent while Aston prices didn’t really budge - meaning a comparable year Ferrari is now about double that of the Aston when just last year it was only slightly more. Which made me think there was more room technically for prices to fall. But good advice I need to get off the pot!
     
  7. blu308qv

    blu308qv Formula Junior

    Nov 12, 2008
    275
    Florida
    There is always going to be a reason NOT to buy a car. My advice, fwiw, figure out the car you want and just buy it. You are missing out on all the enjoyment of these amazing cars. What’s the difference if you buy a California now, enjoy it for 5 years, and you lose 20k or $40k when you sell it? You won’t even remember what you paid 5 years from now.

    I bought an SVJ new, at a huge discount at the beginning of covid. A guy ordered it and backed out because of covid. Everyone was telling me, you are gonna lose $150k the first year. I could sell that car right now for $120k over what I paid. They all made a great case, and history showed them to be 100% correct at the time. The Lamborghini chat site has a thousand posts as to why it was stupid to buy an SVJ. But now, they are all 100% completely wrong.

    BTW, have you looked at the price of a carton of milk lately? The inflation we are seeing is across the board. If Ferraris were spiking in price and milk was flat, I’d say, maybe wait for a short term correction. But if everything else is spiking too, my experience tells me these used Ferrari prices, and prices for milk, are rather permanent. The gov’t just printed $6 trillion dollars and released it into the economy and that money is chasing the same amount of goods that existed before the cash injection.

    So, ignore the Arm chair Monday morning Ferrari economists and get yourself a Ferrari. You will not regret the decision.
     
  8. Tony1

    Tony1 Rookie

    Jul 26, 2020
    10
    Full Name:
    Tony Wong
    Thanks I needed that! And after a brutal pandemic it might just be the cure I need. (Actually my weird thinking last year was that if I buy a Ferrari, then croak, what the hell is my wife gonna do with it - but I think I was on the wrong train of thought there LOL)
     
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  9. blu308qv

    blu308qv Formula Junior

    Nov 12, 2008
    275
    Florida
    Enjoy your search, and moreover, enjoy your car!
     
  10. Bill Phillips

    Bill Phillips Formula Junior
    Silver Subscribed

    Nov 4, 2019
    478
    New Orleans
    Full Name:
    Bill
    This decision reminds me of the early days of the PC. Memory and chip speed doubled every nine months so some people waited, and waited and waited, unable to pull the trigger. I agree wholeheartedly with ‘just find what you like and buy it’. Life is short and unpredictable, don’t make it more complicated than it already is.
     
  11. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    If you croak your wife can drive the Ferrari to pick up young guys, so all will not be lost.:D:D:D
     
  12. Tony1

    Tony1 Rookie

    Jul 26, 2020
    10
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    Tony Wong
    Haha even more reason not to buy it although she would probably sell it for salvage to get garage space she couldn’t care less about cars
     
  13. jsh458ft

    jsh458ft Formula Junior
    Silver Subscribed

    Dec 9, 2020
    323
    PA
    Look, I wanted a 458 and with rising prices I “settled” on a California. It’s spectacular. Test drive the cars that appeal to you and buy the one that fits your budget, you feel comfortable with operating costs and depreciation and don’t look back. Enjoy!
     
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  14. Tony1

    Tony1 Rookie

    Jul 26, 2020
    10
    Full Name:
    Tony Wong
    Thanks so much! update: put down payment on a Grigio silver stone with beige leather waiting for PPI thanks for all the encouragement!
    Can’t wait to swap war stories on how my DCT failed and my roof won’t go up while I’m eating Kraft Dinner LOL but the once in a century pandemic has taught us to live our best life:)
     
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  15. jsh458ft

    jsh458ft Formula Junior
    Silver Subscribed

    Dec 9, 2020
    323
    PA
    Best of luck.
     
    Tony1 likes this.
  16. miamiron

    miamiron Karting

    Sep 3, 2016
    63
    I would never purchase an 09-14 Cali without adding a Ferrari power15 warranty from the dealer. Period.
     
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  17. carlovers2021

    carlovers2021 Karting

    Mar 25, 2021
    102
    Full Name:
    chandra siauw
    Agreed!! I bought two year warranty on my 12 California that I bought April 21 from Ferrari of Atlanta and glad I did that since I had three repairs so far and only covered 1 out of 3….first one cooling fan never stop this killed my battery and not covered for replacing cooling fan part and battery. Secondly engine light on and found out ….The fault is in the secondary air system for emissions for low air flow. The exhaust manifolds are plugged from carbon build up in the secondary air ports not allowing air to flow into the catalytic convertors. His recommendation is to remove the exhaust manifolds and mechanically clean the ports out allowing the needed airflow. Again not covered. Last one is just happening three weeks ago…. Inside the gearbox there is a pressure sensor that failed. We are replacing that part. Luckily it’s covered….



    Sent from my iPhone using FerrariChat
     
  18. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    Hmmmm that would give me pause about purchasing a Cali at all?
     
  19. carlovers2021

    carlovers2021 Karting

    Mar 25, 2021
    102
    Full Name:
    chandra siauw
    I love this car so much and that’s my first F car that I can afford and I was able to bring this to track and have fun so maybe that is part of reasons why I have many issues since I bought 5 months ago….

    Buying a used car is like a gamble to me but with two year new power warranty it gives you peace of mine…. You will never know what your car will be in future … have lots of issue or no issues at all….you buy a different Brand name or model could be facing the same thing so buy a car that you love as your dream car and have fun with it….do PPI and extended warranty that’s at least what we can do …..after two years then I will trade in assuming I have money to do that … either Cali T or Portofino…. Good luck bro.
     
  20. carlovers2021

    carlovers2021 Karting

    Mar 25, 2021
    102
    Full Name:
    chandra siauw
  21. chris7469

    chris7469 Rookie

    May 19, 2006
    6
    I’m in the same boat. Missed my Cali T in the 135 - 145k back in 19.

    I can’t bring myself to pay 175k for an older car. Especially since this model is not loved by the Ferrari crowd.

    Personally it’s exactly what I want but as a CPA I am too prudent to pay up. There are two more models out and this chip shortage will end.

    The T is only getting older and will eventually will come back to earth in price as with all cars.

    The supply shortage will correct. So will the asset inflation. I hope. Lol

    I know a Ferrari is a want and not a need. I have a few more years until I hit 50. The T was the perfect upgrade to my GTS which I love.

    I will just wait and watch.

    Lastly, to all the Ferrari guys. What F car would you buy if your comfortable budget was 170k n why. Thanks! C


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  22. jsh458ft

    jsh458ft Formula Junior
    Silver Subscribed

    Dec 9, 2020
    323
    PA
    Higher mileage 458 is the prudent purchase as you approach 200k
     
  23. blu308qv

    blu308qv Formula Junior

    Nov 12, 2008
    275
    Florida
    Agreed.
     
  24. vjd3

    vjd3 F1 Rookie
    Owner Rossa Subscribed

    Jun 3, 2005
    2,565
    Massachusetts
    Full Name:
    Vic
    This is probably true ... but you likely won't drive the 458 as often as you might drive the Cali T ... and the 458 spiders are that much more expensive if you want the open air experience. I drive mine everywhere year-round, as long as it's not raining -- even in the winter, as long as the roads are dry. 13k miles in 25 months and no issues. If you get it, drive it and you will get your money's worth out of it. As they say, you only lose money on it if you sell it later. Eventually it will bottom out and you can drive it indefinitely.

    A local dealer recently offered me $125k in trade -- I passed -- which is not bad for a 23k mile 2015 with a ding on the Carfax ;)
     
  25. chris7469

    chris7469 Rookie

    May 19, 2006
    6
    Thank you.

    I love the T and I want to buy one and put miles on it and take it to cars and coffee and enjoy the hell out of it!

    While some Ferraris seem to hold their value and remain very desirable, I just don’t think the Cali T will.

    There also seems to be a lot of them for sale.

    I know it’s only money, only live once etc. I guess I have to stop being logical.

    With my luck and timing I’ll end up paying 170k then no more car / chip shortage etc and the Roma convertible will be released on the same day. Lol


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