F12 considerations

F12 considerations

Author
Discussion

ferdi p

1,519 posts

171 months

Tuesday 27th August 2019
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Insurancejon said:
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
Link? I'm currently looking...

Insurancejon

4,054 posts

245 months

Tuesday 27th August 2019
quotequote all
ferdi p said:
Insurancejon said:
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
Link? I'm currently looking...
here you go, previous owner was a pher too

https://www.sterlingmotors.co.uk/used-cars/1031078...



Insurancejon

4,054 posts

245 months

Tuesday 27th August 2019
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MDL111 said:
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
I thought that, but I bought my car in feb this year, and it came with a warranty till june 2021. so it could be they can only buy the warranties in full years

cayman-black

12,624 posts

215 months

Saturday 31st August 2019
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Was the car bought from Ferrari? Would they not SOR it for you?

Desert Dragon

1,445 posts

83 months

Saturday 31st August 2019
quotequote all
Insurancejon said:
ferdi p said:
Insurancejon said:
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
Link? I'm currently looking...
here you go, previous owner was a pher too

https://www.sterlingmotors.co.uk/used-cars/1031078...
I think cars still need to be much cheaper to sell. Ferrari main dealers trying to hold the line. Realistically how can a 5 year Ferrari be worth more than 50% of its MRSP? Ferrari have created a false mkt for years and thats great for customer and resale but in a mkt where fuel prices , insurance, servicing costs etc sky high dealers need a reality check or they'll simply be twiddling thumbs for the next 5 years. With these high end cars liquidity an issue as there are only so many people who can afford these with ease. Fine when residuals were sky high but there are are only so many people that can run these bought out right for cash without a care in the world for depreciation. Could be worse though you could have £265k in a 720s!

noble3r

288 posts

206 months

Sunday 1st September 2019
quotequote all
Desert Dragon said:
I think cars still need to be much cheaper to sell. Ferrari main dealers trying to hold the line. Realistically how can a 5 year Ferrari be worth more than 50% of its MRSP? Ferrari have created a false mkt for years and thats great for customer and resale but in a mkt where fuel prices , insurance, servicing costs etc sky high dealers need a reality check or they'll simply be twiddling thumbs for the next 5 years. With these high end cars liquidity an issue as there are only so many people who can afford these with ease. Fine when residuals were sky high but there are are only so many people that can run these bought out right for cash without a care in the world for depreciation. Could be worse though you could have £265k in a 720s!
I agree. Prices being held artifically high by Ferrari main dealers, even with zero turnover. There is constantly 50> F12's for sale. Great if your a buyer. A 2014 15k miles average spec F12 in the trade will be £140k but you won't find any dealers willing to purchase outright in this climate. Come on privateers tell us what WeBuyAnyCar offered you online for your car...

I found a 2015 high spec F12 with 4k on Autotrader with car registration visible. Asking price £220K. Trade price (WeBuyAnyCar) £143k

Desert Dragon

1,445 posts

83 months

Sunday 1st September 2019
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noble3r said:
Desert Dragon said:
I think cars still need to be much cheaper to sell. Ferrari main dealers trying to hold the line. Realistically how can a 5 year Ferrari be worth more than 50% of its MRSP? Ferrari have created a false mkt for years and thats great for customer and resale but in a mkt where fuel prices , insurance, servicing costs etc sky high dealers need a reality check or they'll simply be twiddling thumbs for the next 5 years. With these high end cars liquidity an issue as there are only so many people who can afford these with ease. Fine when residuals were sky high but there are are only so many people that can run these bought out right for cash without a care in the world for depreciation. Could be worse though you could have £265k in a 720s!
I agree. Prices being held artifically high by Ferrari main dealers, even with zero turnover. There is constantly 50> F12's for sale. Great if your a buyer. A 2014 15k miles average spec F12 in the trade will be £140k but you won't find any dealers willing to purchase outright in this climate. Come on privateers tell us what WeBuyAnyCar offered you online for your car...

I found a 2015 high spec F12 with 4k on Autotrader with car registration visible. Asking price £220K. Trade price (WeBuyAnyCar) £143k
I suppose in their shoes previously the market has always corrected itself and the classics have flown back up in price eventually look at Testarossa, 550, 575, 512 TR etc. With the dawn of the electric age they'll be waiting a long long time. Can't say I'd pounce on that high spec 2015 F12 even at £143k and I can just about afford it! Sentiment important too and it just doesn't feel like the right time to buy a £140k Ferrari.

The worst pls buy my Ferrari youtube advert ever. Again I wouldn't be in a rush to buy that at £150k let alone £200k. I'd rather have an F12!

https://www.youtube.com/watch?v=JtdcEnvGOd4

cayman-black

12,624 posts

215 months

Sunday 1st September 2019
quotequote all
Desert Dragon said:
I suppose in their shoes previously the market has always corrected itself and the classics have flown back up in price eventually look at Testarossa, 550, 575, 512 TR etc. With the dawn of the electric age they'll be waiting a long long time. Can't say I'd pounce on that high spec 2015 F12 even at £143k and I can just about afford it! Sentiment important too and it just doesn't feel like the right time to buy a £140k Ferrari.

The worst pls buy my Ferrari youtube advert ever. Again I wouldn't be in a rush to buy that at £150k let alone £200k. I'd rather have an F12!

https://www.youtube.com/watch?v=JtdcEnvGOd4
I watched that car guys video the other day. How things have changed a £70k loss in one year on a modern Ferrari, wow. I remember selling my Modena back to HROwen in 2002 after just under one year for a 5k loss.

I prefer the F12 as well.

garystoybox

768 posts

116 months

Sunday 1st September 2019
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cayman-black said:
I watched that car guys video the other day. How things have changed a £70k loss in one year on a modern Ferrari, wow. I remember selling my Modena back to HROwen in 2002 after just under one year for a 5k loss.

I prefer the F12 as well.
To be fair, all that he’s lost is the crazy £75k cost of options he’s put on the car. If he’d spent a more normal £20-£25k on the usual must have’s the the trade value would have been the same and he’d be down only £25k. Triple layer paints and two tone finish is just flushing money down the toilet if buying to flip in a year or two. Madness to complain otherwise. Will make a good used buy though if that’s the spec you want.

CarsandLeeds

Original Poster:

34 posts

88 months

Monday 2nd September 2019
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Oh no , it’s become a depreciation thread !!

Still loving mine - 2k miles in and enjoyed every minute , more than any other car I’ve owned.

Amazing as 812s are ( and I’d love to own one one day) , if f12s really are half the price that’s an absolute “bargain” in my eyes.

mattf93

1,273 posts

114 months

Monday 9th September 2019
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garystoybox said:
To be fair, all that he’s lost is the crazy £75k cost of options he’s put on the car. If he’d spent a more normal £20-£25k on the usual must have’s the the trade value would have been the same and he’d be down only £25k. Triple layer paints and two tone finish is just flushing money down the toilet if buying to flip in a year or two. Madness to complain otherwise. Will make a good used buy though if that’s the spec you want.
Either way, the car sold within a day/they had a customer waiting for it.
It was a pretty specced car but as you said damian went a little mad on his box ticking expedition although I must admit I do rather like Rosso Fuoco ...

rosino

1,346 posts

171 months

Thursday 17th October 2019
quotequote all
Insurancejon said:
ferdi p said:
Insurancejon said:
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
Link? I'm currently looking...
here you go, previous owner was a pher too

https://www.sterlingmotors.co.uk/used-cars/1031078...
Car is still available.. market in a rough place... watching FF ads being reduced by the tune of 20-25k.. i guess if a dealer gets caught long the asset after having mis-estimated things in the summer and having added stock at the wrong prices they will have little choice but clear it out come what may at some point..

i tend to agree these are the last of an era (perhaps of THE era) so it makes me profoundly sad to think that one day we might be faced with Taycan level of engagement and social stigma of owning these wonderful machines, as absurd and hypocrite as that may be frown

Insurancejon

4,054 posts

245 months

Thursday 24th October 2019
quotequote all
rosino said:
Insurancejon said:
ferdi p said:
Insurancejon said:
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
Link? I'm currently looking...
here you go, previous owner was a pher too

https://www.sterlingmotors.co.uk/used-cars/1031078...
Car is still available.. market in a rough place... watching FF ads being reduced by the tune of 20-25k.. i guess if a dealer gets caught long the asset after having mis-estimated things in the summer and having added stock at the wrong prices they will have little choice but clear it out come what may at some point..

i tend to agree these are the last of an era (perhaps of THE era) so it makes me profoundly sad to think that one day we might be faced with Taycan level of engagement and social stigma of owning these wonderful machines, as absurd and hypocrite as that may be frown
I still own it not the dealer. will take a cheeky bid, however if it doesn't sell over winter.....I'll just out it back on the road in spring and enjoy it. there are worse ways to lose money.

kman

1,108 posts

210 months

Thursday 2nd January 2020
quotequote all
noble3r said:
I found a 2015 high spec F12 with 4k on Autotrader with car registration visible. Asking price £220K. Trade price (WeBuyAnyCar) £143k
Is WBAC realistically indicative of trade/CAP prices on cars like the F12? I just put a couple of reg's into the system and I can't quite believe what their offer prices are at the moment (sub £120k)....


jakesmith

9,461 posts

170 months

Thursday 2nd January 2020
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They aren't interested in that type of car so bid you ridiculously low. They like stuff they can easily shift through BCA, things like 1-5 year old mass market cars

4leks

177 posts

174 months

Sunday 19th January 2020
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jakesmith said:
They aren't interested in that type of car so bid you ridiculously low. They like stuff they can easily shift through BCA, things like 1-5 year old mass market cars
I partially agree with WBAC point however do you know many dealers around that would pay straight away £140-150k for same car to buy it outright? I seriously doubt. Even if they were to buy it outright, the offer is gonna be close to WBAC. Correct me if I am wrong but I think historically the cars use to loose 50% over initial 3-4 years. We had rather artificial market in past years that is now over (I believe) and the Ferrari dealers would have to get real at some point. I monitor F12 and 488Spider market for 6 month now and as far as I can see not many cars are selling

cgt2

7,092 posts

187 months

Sunday 19th January 2020
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If there is price parity between a 458 and an F12 then there really is no question which feels more special, better interior and an absolute jewel of an engine. My favourite Ferrari of the past decade, F12's are relative bargains if they stay in this depreciation trajectory.

cayman-black

12,624 posts

215 months

Sunday 19th January 2020
quotequote all
4leks said:
I partially agree with WBAC point however do you know many dealers around that would pay straight away £140-150k for same car to buy it outright? I seriously doubt. Even if they were to buy it outright, the offer is gonna be close to WBAC. Correct me if I am wrong but I think historically the cars use to loose 50% over initial 3-4 years. We had rather artificial market in past years that is now over (I believe) and the Ferrari dealers would have to get real at some point. I monitor F12 and 488Spider market for 6 month now and as far as I can see not many cars are selling
I cant see one F12 that i have looked at in the last three months that has now sold.

Just to add I wonder if a cheeky offer of £150k would be accepted?

https://preowned.ferrari.com/en/it/search/2013/fer...


Edited by cayman-black on Sunday 19th January 14:12

hamptons79

21 posts

88 months

Sunday 19th January 2020
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I would consider £150k a good offer on 2013 car with what is effectively a tricky spec with nearly 20k miles.

cayman-black

12,624 posts

215 months

Sunday 19th January 2020
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hamptons79 said:
I would consider £150k a good offer on 2013 car with what is effectively a tricky spec with nearly 20k miles.
I agree. The mileage does bother me though but i do love the spec .