PRICE DROP ON F-12

Why the surprise - its a v12 Ferrari and its near the end of its run - they have always done this

In fact although a few get lucky most every car ever made depreciates off the lot by more than 15 %

 

This is only the beginning. If he wants to get out then I'd do it quick

 

funny thing is that once they take in your trade, they'll tell the next potential buyer that the market is red hot

 

yeah, typical Ferrari V12 flagship depreciation. Price won't go back to what it was anymore, probably never will.

 

if they offer him $290k, might as well try to sell it privately. unless he wants next ferrari new or in need for money quick.

 

Oddly...mine went to $0 as soon as I drove it off the lot.

 

What do you suppose the dealer is offering for the beautiful Taylor made F12 currently listed in the classiifieds? It could be worse. At least he got it out the door at "only" 340. It can't go for above msrp and at that offer its not like the dealer is going to make a killing on it.

 

On further consideration, if he consigned it through a dealer and took a reasonable offer to sell it, he may very well come out behind 290. Some pretty nice f12s out there in the 340k range. Just my thoughts.

 

Sorry. Last thought. Depending on how your state treats sales tax, you lose the trade in benefit on a private sale if he is looking at rolling it into something else anyway. Ok, I'm done thinking about it.

 

Without seeing the build ... 340 new, 320 used, 290 to you. Seems fair.

Good thing he didn't buy an FF. 2016s for 80-100 under sticker.

 

a few thoughts, having been through the ringer myself a few times in the past (and, in the future too...)

$340K to $290K is big money ($50K!) but is about 15%. Once the dealer puts their margin in, they will probably ask $335K and sell for $310-315K? There are a handful of good 2014-2015's out there which are influencing the price points.

15% new car depreciation on a quick buy-and-return is actually not bad, though painful for 50,000 reasons for sure. (try this with a Maserati, Aston, Porsche TTS, even an FF...).

V12, near end of run, with new car known to be coming in ("the new one is better!"), and even when you could order an F12, the last year of production seemed like softer demand, which again depresses the market.

I do not think the F12 market is crashing at all, it's simply on the normal curve. People looking to sell/trade are looking DOWN the curve with tears in their eyes, people looking up the curve to buy are waiting for inevitable market gravity to have its effect.

BTW I still believe our F12 was the best car we ever owned and (in hindsight) was my favorite; when I sold/traded it I did ok on depreciation but did not get any "flip premium", more like I got a fair price (if less than I wanted).

 

14% off isnt that bad. Also how many miles and what color?

 

Also remember that if there aren't a lot of changes between MY, then a new-ish used car is going to have to compete with a 2014 or 2015 or whatever. When you're talking $350K cars with low mileage, the only difference is going to be a warranty.

Would you pay a huge premium for an identical car just to have it by 2 years newer? Miles are miles. There's very little difference between a couple year old used car and an almost-new car, and warranties can usually be bought anyway.

 

Dealer buys it for $290 sells it for $310-320. Not such a big drop IMO for a one year old car. The days of selling used F12's over MSRP are over.


Besides, if it has a lot of CF options or custom paint these add zero to the resale value of any F car. If I remember you could order a fairly well optioned car for $315 or so.

 

Do you think the price drop will flow on to the TDF or will it's limited edition status ensure it holds value?


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Near the end of its run?! How many years per model cycle does each current Ferrari model run?

 

The front engine 12 cylinder cars seem to take a bigger hit earlier than the V8's. Probably because its a smaller market.

 

I think you will find it is quite a major overhaul, think FF to Lusso and the character of the car could well become more aggressive.

 

If the era of cheap money ever comes to an end, watch out below. Dealers can literally hold the market of everything up since their cost of capital is nothing. If you had a true carrying cost associated with a million dollar car, it wouldn't sit out on the market for 365 days with no price adjustment. But, that goes for many things and the appropriate place for this comment may well be in the P&R section?

 

This is a very good point.