F12 considerations

F12 considerations

Author
Discussion

PGNSagaris

2,143 posts

111 months

Sunday 18th August
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Big hiding. Imagine the pain if you had actually driven it more than 30 odd miles a month

Taffy66

2,672 posts

47 months

Sunday 18th August
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PGNSagaris said:
Big hiding. Imagine the pain if you had actually driven it more than 30 odd miles a month
900 miles in 6 months translates to a monthly average of 150 miles not 30..Most high end cars are in freefall since the beginning of the year..The same Ferrari dealer Jack bought his F12 from has a 2018 Performante with just 3.5K miles for only £178K..Same car would have been £30K more when he bought his F12..Same goes for 488s...The only exceptions seem to be 458s which seem to be bucking the trend..

garystoybox

241 posts

62 months

Sunday 18th August
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PGNSagaris said:
Big hiding. Imagine the pain if you had actually driven it more than 30 odd miles a month
Not really, putting 3x the mileage on it would make little difference to its trade value as a percentage loss. This was always going to happen to F12’s given the number being traded for 812’s and a slowing market. All the more reason to keep it and enjoy for 2-3 years and let the depreciation level out.

PGNSagaris

2,143 posts

111 months

Sunday 18th August
quotequote all
Meant to say 30 a week.

And yes, I agree re keeping it. It is an utterly sensational car. Keep it and drive it and enjoy it.

PrancingHorses

2,199 posts

152 months

Monday 19th August
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Everything is dropping at the moment. Been watching 488 spiders and they were all well over £215k a few months ago now plenty available between £185-200k. 458s were the one's that everyone thought would never drop - well they have by at least £20k. Anything that was around £150k now available for around £130k. Don't agree with Taffy on the 458 as prices are certainly going down but not as fast at they are on the other cars. The 2010/2011 cars were the £150k ones and they are now £130k - it was the 2013/14 cars that were around £175k and they are now around the £150k mark.

https://exeter.ferraridealers.com/en_gb/search-use...

It's surely a buyers market right now!

Edited by PrancingHorses on Monday 19th August 08:41

Drl22

102 posts

10 months

Monday 19th August
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PrancingHorses said:
Everything is dropping at the moment. Been watching 488 spiders and they were all well over £215k a few months ago now plenty available between £185-200k. 458s were the one's that everyone thought would never drop - well they have by at least £20k. Anything that was around £150k now available for around £130k. Don't agree with Taffy on the 458 as prices are certainly going down but not as fast at they are on the other cars. The 2010/2011 cars were the £150k ones and they are now £130k - it was the 2013/14 cars that were around £175k and they are now around the £150k mark.

https://exeter.ferraridealers.com/en_gb/search-use...

It's surely a buyers market right now!

Edited by PrancingHorses on Monday 19th August 08:41
When does it truly become a buyers market though? That’s the golden question. With the great brexit appearing soon a no deal, perhaps even if we leave with a deal too, could shed a lot more off these cars, then it truly would be a buyers market. I’m waiting ready to pounce with a time limit on waiting until Spring next year.

Jack-flash

147 posts

17 months

Monday 19th August
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I think imo there all coming in line with mclaren where last year only they were tending to drop heavy , and now they have levelled off and it’s turn of the others , I’ll keep mine until this brexit bks is resolved and the markets becomes more stable , but I’ll be going back to McLarens as Leeds have well and truly peed on my leg and told me it’s raining, and IMO have a poor attitude , once they have your money very little interest

garystoybox

241 posts

62 months

Monday 19th August
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To be honest the 12 cylinder Ferrari have always depreciated fairly heroically and it was historically the case that only the truly wealthy dabbled. This seemed to change with the F12, which bucked the trend for a few years. I would say normality seems to be returning....

Drl22

102 posts

10 months

Monday 19th August
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garystoybox said:
To be honest the 12 cylinder Ferrari have always depreciated fairly heroically and it was historically the case that only the truly wealthy dabbled. This seemed to change with the F12, which bucked the trend for a few years. I would say normality seems to be returning....
I think this analysis is spot on, it will be interesting to see how the 812 fairs over the next couple of years as, although I’d love one, I can’t afford to take a hit that big. If they follow the curve of any other Ferrari V12 they’ll be down near £240k or so by then.

GusB

241 posts

104 months

Monday 19th August
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I’m also a watcher of F12s and 812s as a replacement for my 599 HGTE, however re prices I don’t think V12s are as bad as they used to be. I bought mine in 2012 for £125k with c6000 miles and I’ve been offered £100k as a part ex on a “Ferrari replacement” and I’ve done c25,000 miles in it which I don’t think that is too much to “invest” personally. I lost £20k on an E46 M3 doing less miles and having less fun...

Servicing / work has probably cost £15,000~ over the 7 years as I have done everything that needed doing...

Just don’t mention the petrol used...

garystoybox

241 posts

62 months

Monday 19th August
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GusB said:
I’m also a watcher of F12s and 812s as a replacement for my 599 HGTE, however re prices I don’t think V12s are as bad as they used to be. I bought mine in 2012 for £125k with c6000 miles and I’ve been offered £100k as a part ex on a “Ferrari replacement” and I’ve done c25,000 miles in it which I don’t think that is too much to “invest” personally. I lost £20k on an E46 M3 doing less miles and having less fun...

Servicing / work has probably cost £15,000~ over the 7 years as I have done everything that needed doing...

Just don’t mention the petrol used...
Sounds like you’ve had great value out of your car and many, many miles of enjoyment over the last 7 years. More so then the original owner who probably paid c£250k and saw half of that disappear in a couple of years and 6k wobble.

SL550M

396 posts

55 months

Tuesday 20th August
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GusB said:
I’m also a watcher of F12s and 812s as a replacement for my 599 HGTE, however re prices I don’t think V12s are as bad as they used to be. I bought mine in 2012 for £125k with c6000 miles and I’ve been offered £100k as a part ex on a “Ferrari replacement” and I’ve done c25,000 miles in it which I don’t think that is too much to “invest” personally. I lost £20k on an E46 M3 doing less miles and having less fun...

Servicing / work has probably cost £15,000~ over the 7 years as I have done everything that needed doing...

Just don’t mention the petrol used...
Great effort GusB. That's seven years of top-notch motoring and, as you say, a relatively modest outlay all things considered. Good luck with the replacement, whatever it might be.

GusB

241 posts

104 months

Tuesday 20th August
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I admit I did ignore (man maths) the original purchase price / depreciation... that’s why I’m looking at next winter for a change to a previously owned F12 or less likely 812 as truth be told V12s new can be savage if things don’t work out... and I do know that I’m unlikely to get in and out of unscathed next time.... however in my mind they are to be used and you take the consequences of milage which hopefully will be less as people realise the cars don’t fall apart after 10,000 miles... GusB.


ferdi p

1,200 posts

117 months

Sunday 25th August
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They're going up!!

JCT600 put 8k on both there F12's yesterday.

They were listed at 166k now 174k !!

noble3r

267 posts

152 months

Sunday 25th August
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ferdi p said:
They're going up!!

JCT600 put 8k on both there F12's yesterday.

They were listed at 166k now 174k !!
and to think they never even sold at 166K. It sat at that for a good month...i think. Great cars - majority of deprication will come from dealer margin when needing to sell. Who would buy an F12 without a 2yr backed dealer warranty?? I have never understood why used ones at independents are priced the same. Once the service plans have expired prices could get depressed further.

jakesmith

4,723 posts

116 months

Sunday 25th August
quotequote all
ferdi p said:
They're going up!!

JCT600 put 8k on both there F12's yesterday.

They were listed at 166k now 174k !!
If only I’d bought them, they’re like Apple stock in the 80’s

Insurancejon

3,505 posts

191 months

Tuesday 27th August
quotequote all
noble3r said:
ferdi p said:
They're going up!!

JCT600 put 8k on both there F12's yesterday.

They were listed at 166k now 174k !!
and to think they never even sold at 166K. It sat at that for a good month...i think. Great cars - majority of deprication will come from dealer margin when needing to sell. Who would buy an F12 without a 2yr backed dealer warranty?? I have never understood why used ones at independents are priced the same. Once the service plans have expired prices could get depressed further.
mines for sale at an independent, and Ferrari the warranty does run out till june 2021. it appears when they change hands via the the main dealers the warranty gets extended by 2 years. so if it had some left, you end up with quite a long warranty period

cayman-black

8,069 posts

161 months

Tuesday 27th August
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Jon, are you saying if your car was at the main dealers the warranty would not expire until 2023 ?

Insurancejon

3,505 posts

191 months

Tuesday 27th August
quotequote all
cayman-black said:
Jon, are you saying if your car was at the main dealers the warranty would not expire until 2023 ?
I think at that point they would just add a single year so 2022 is more likely

MDL111

3,735 posts

122 months

Tuesday 27th August
quotequote all
Insurancejon said:
cayman-black said:
Jon, are you saying if your car was at the main dealers the warranty would not expire until 2023 ?
I think at that point they would just add a single year so 2022 is more likely
I thought what they do is extend to have a minimum of 2 years on it in the UK (and usually 1 year in Germany unless you haggle for the second year) - might be wrong about the UK though