I Need Your Ferrari Expertise | FerrariChat
Buy

I Need Your Ferrari Expertise

Discussion in 'FF/Lusso' started by John Galt, Apr 20, 2015.

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

  1. John Galt

    John Galt Rookie

    Dec 12, 2014
    42
    #1 John Galt, Apr 20, 2015
    I've just sold my McLaren 12C and am looking at getting an FF. The McLaren was my first exotic and I absolutely loved it but it was just my weekend cruiser. I like the idea of having an exotic that I can drive everyday. I test drove one a few weeks ago and was smitten with the styling, utility and of course the V12.

    I feel like I just don't know much about Ferrari. I've been lurking and reading this forum for a few months and have learned a lot. It seems many people drive their FF regularly, some without problems, others with problems. I'm aware of the 7 year maintenance plan and option to extend the warranty for 2 years.

    My specific question is in regards to value. I know, it's everyone's favorite topic, but this is where I feel least knowledgeable. Buy new, and you'll take a major hit which does not interest me. Since I plan on racking about a bunch of miles, i'm definitely going used. Of course, warranty remaining and original spec play into the price but let's say I buy a used 2013 for 220k with 5,000 miles today and put 15,000 miles on it over the next two years, what could I expect the depreciation to be? Will this car be worth 125k, 150k, 185k in two years? These are just ranges of course and I realize that it's impossible to know the future but any educated input would be most helpful. i've also seen a few used ones that have 20k-25k miles on them already. Would you specifically shy away from those and would those be on a similar depreciation curve as the example I shared?

    Thanks, I'm looking the US market, by the way.
     
  2. j09333

    j09333 Formula 3
    Silver Subscribed

    May 7, 2004
    1,332
    #2 j09333, Apr 21, 2015
    Drive most and forget about depreciation. Used or new things will lose value what so ever. Have it for 5 years and drive more than 50k miles and then you will not think about depreciation anymore. I found it that depriciation matters less if one has the car long enough and drive alot.

    On buying the less you pay the less damage you will get.

    Also facelift is coming soon. You might want to wait. FF instead of our owners hope is not doing well on used market. So either you buy and stick with it for long or look for other v12s.
     
  3. John Galt

    John Galt Rookie

    Dec 12, 2014
    42
    #3 John Galt, Apr 21, 2015
    That's a sound take. When is the face lift due out?
     
  4. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,668
    South East
    Full Name:
    Jimmie
    #4 greyboxer, Apr 21, 2015
    Whatever it says in the thread about ten down
     
  5. John Galt

    John Galt Rookie

    Dec 12, 2014
    42
    #5 John Galt, Apr 21, 2015
    Looks like people are saying revealed at Geneva 2016 but not delivered until late 2016 and hardly anything definitive.
     
  6. Caeruleus11

    Caeruleus11 F1 World Champ
    Rossa Subscribed

    Jun 11, 2013
    11,626
    #6 Caeruleus11, Apr 21, 2015
    A 4 seat V12 will exhibit the strongest depreciation.

    The market for these cars is not very large and a car with 20k miles on it will not attract a lot of takers. Thus sellers of cars with this mileage have to discount on price or not close deals.

    My guess is the car you are looking at in 2 years or so with 20k miles on it will likely be worth somewhere between your 125-150 numbers retail. You will need to be prepared for this. If it works out that you can do better then I will be very happy for you.

    The thing about the face lift is it's not going to change the basics of the market place for these cars. And I agree the best way to protect yourself is to buy pre owned.
     
  7. mjeagent

    mjeagent Karting

    Aug 17, 2012
    119
    Northern Virginia
    Full Name:
    Mike
    #7 mjeagent, Apr 21, 2015
    To give you some feel on depreciation, I've got a 2012 FF with 4,000 miles and toyed with moving out of it for something else and was seeing offers around $175,000 from dealers. Sticker price of close to $360,000. Never pulled the trigger because I fully expected an offer that started with a 2.
     
  8. John Galt

    John Galt Rookie

    Dec 12, 2014
    42
    #8 John Galt, Apr 21, 2015

    Well maybe I can help you out with that if you're still looking to move it.


    Sent from my iPhone using Tapatalk
     
  9. Entropy

    Entropy Formula 3
    Owner

    Jul 10, 2008
    2,149
    #9 Entropy, Apr 22, 2015
    All good points. I focus on economics and hate feeling like I'm wasting money, but I absolutely am addicted to cars, as is my wife. Our FF is phenomenal, we loved driving it and it was probably one of the best cars we've owned from an experience perspective. Drive it, and enjoy driving it. If you are worried about depreciation or it's part of your calculus, you'll cringe every mile and that just ruins it. FWIW, I bought an Abarth from an Fchatter, have fun in it and "wrote it off" the minute I paid for it. I've said it before, we'd rather brag about the miles we drive and adventures we've had and enjoyed in the Ferrari than brag about how much we got on resale. Don't waste your money, but cars are depreciating goods. also, the V12 2+2 market is about as niche-y as you'll find. Some have fervor (i.e. me), some have fever.

    you're getting lowballed or abused. seriously. We just TRADED our 2013, 6K miles, $325MSRP, out of warranty FF (for a new 2015), dealer sold it for $230K. Quickly. 10% depreciation per year and $1/mile I'd guess was the rate. It was perfect. Our dealer was also probably generous with us, we try and be fair to them and likewise in return.

    Prices are low and are lowering, but that offer is abusive, and/or your car had some issues (not saying it did, but those would be only plausible reasons for that offer).

    Facelift will be in mid-2016, last I heard it was mods to front/rear fascia, 488-sh internal style refresh, maybe a few more hp. will be more 360-430 than 430-458 (or 599-F12). Lots of speculation and not much fact yet.
     
  10. Caeruleus11

    Caeruleus11 F1 World Champ
    Rossa Subscribed

    Jun 11, 2013
    11,626
    #10 Caeruleus11, Apr 22, 2015
    Last edited: Apr 22, 2015
    Mike is your car some wild color or have some modification that makes them very afraid? If not then I agree that the number sounds really low. If it is then this would offer some explanation. I also think there are more FFs than potential buyers these days.

    In your spot I'd keep the car because the inherent value of the technology > offers you received.

    John, I would look into the details of the maintenance program. The last time I asked about it, I wasn't really impressed. Like most things it struck me as a mixed bag. I think any car you look at, you need a PPI (pre purchase inspection) by someone other than the seller and you should insist on a full maintenance history. If they cannot produce it, find another car.

    Have you driven an FF? Many who have them love them. Its funny because I've found every Ferrari brings out strong feelings. Some are positive and some are not. I've learned to test drive these cars first to be sure its something I like. You might be able to talk a dealer who has the car you are considering into letting you have it for an extended test drive- maybe for a day or even overnight or over a weekend. It doesn't hurt to ask and then you can get a sense of what you really think. How does it feel in your driveway and in your life.
     

Share This Page