1st sub £250k 296 GTB?
Discussion
Many disgruntled Ferrari owners coming outa the woodwork on this thread now 
Won’t change anything. The 296 is a depreciation disaster and Im beginning to now think £160k will seem expensive in a couple of months time!
Don’t get me wrong, fantastic bit of kit and loved every min of driving it over 3 days in Modena courtesy my dealer when it was launched.
They told me I could have a spider if I ordered the coupe. Thank f
king god I didnt!
Won’t change anything. The 296 is a depreciation disaster and Im beginning to now think £160k will seem expensive in a couple of months time!
Don’t get me wrong, fantastic bit of kit and loved every min of driving it over 3 days in Modena courtesy my dealer when it was launched.
They told me I could have a spider if I ordered the coupe. Thank f
king god I didnt! I think the depreciation is not necessarily abnormal. These cars historically pretty much always depreciated - even the Speciale depreciated initially. I could have bought a one or two year old one at around 220k Euros in (I think) 2015 - which was probably a very decent amount of depreciation (esp. once you consider the buy in price of the dealer or SOR fee).
My FF cost me 180k (vs a new price of 330k) in 2015 with c 10k km on the clock and about 3 years old (I assume Ferrari gave the seller around 160k after fees etc).
My FF cost me 180k (vs a new price of 330k) in 2015 with c 10k km on the clock and about 3 years old (I assume Ferrari gave the seller around 160k after fees etc).
I just think the truth is that there aren't that many buyers out there these days for cars much over 150k; certainly fewer than a few years back. And there are so many options at that sort of price.
Taxes, interest rates, boomers ageing out leaving a smaller, impoverished gen X etc etc plus the ever increasing list of these cars just means that to find buyers, the used price has to be affordable.
The car in that advert just posted; 380k feels like a lot for a new mid engine Ferrari to me.
My Bentley dealer offered me, with a big discount, a new GTC last week with a list of 320k! 100k more than a basically identical model I bought new off them in 2021. Massive discounts on a brand new launch (along with all their other models (50k+ is achievable just by looking online let alone picking up the phone)) just says to me that they, along with others, have got the pricing all wrong.
I disagree that the issue with the 296 is the engine or the looks; I think it's simply that the market has evaporated. You just rarely see supercars at all again these days on the road; I feel like I saw more Gallardo's and 360s causing about etc back in the early 00s than I do now. Everyone with 200k in their pocket seems to want an everyday Super SUV.
Taxes, interest rates, boomers ageing out leaving a smaller, impoverished gen X etc etc plus the ever increasing list of these cars just means that to find buyers, the used price has to be affordable.
The car in that advert just posted; 380k feels like a lot for a new mid engine Ferrari to me.
My Bentley dealer offered me, with a big discount, a new GTC last week with a list of 320k! 100k more than a basically identical model I bought new off them in 2021. Massive discounts on a brand new launch (along with all their other models (50k+ is achievable just by looking online let alone picking up the phone)) just says to me that they, along with others, have got the pricing all wrong.
I disagree that the issue with the 296 is the engine or the looks; I think it's simply that the market has evaporated. You just rarely see supercars at all again these days on the road; I feel like I saw more Gallardo's and 360s causing about etc back in the early 00s than I do now. Everyone with 200k in their pocket seems to want an everyday Super SUV.
Saweep said:
I just think the truth is that there aren't that many buyers out there these days for cars much over 150k; certainly fewer than a few years back. And there are so many options at that sort of price.
Taxes, interest rates, boomers ageing out leaving a smaller, impoverished gen X etc etc plus the ever increasing list of these cars just means that to find buyers, the used price has to be affordable.
The car in that advert just posted; 380k feels like a lot for a new mid engine Ferrari to me.
My Bentley dealer offered me, with a big discount, a new GTC last week with a list of 320k! 100k more than a basically identical model I bought new off them in 2021. Massive discounts on a brand new launch (along with all their other models (50k+ is achievable just by looking online let alone picking up the phone)) just says to me that they, along with others, have got the pricing all wrong.
I disagree that the issue with the 296 is the engine or the looks; I think it's simply that the market has evaporated. You just rarely see supercars at all again these days on the road; I feel like I saw more Gallardo's and 360s causing about etc back in the early 00s than I do now. Everyone with 200k in their pocket seems to want an everyday Super SUV.
In a way very true however speaking to a few good friends who are dealer principals at Land Rover, Lamborghini and Mercedes dealerships they tell me that nowadays over 80% of cars they sell are on PCP or some kind of finance with a balloon payment at the end. So it's more down to "monthly payments" now rather than a price of a car. For example the Range Rover SVR was an cracking car for around £100k in 2019 but the new version called the SV is touching £180k which is insane - nearly double the price however people still buy them as long as the "monthly's" are affordable.Taxes, interest rates, boomers ageing out leaving a smaller, impoverished gen X etc etc plus the ever increasing list of these cars just means that to find buyers, the used price has to be affordable.
The car in that advert just posted; 380k feels like a lot for a new mid engine Ferrari to me.
My Bentley dealer offered me, with a big discount, a new GTC last week with a list of 320k! 100k more than a basically identical model I bought new off them in 2021. Massive discounts on a brand new launch (along with all their other models (50k+ is achievable just by looking online let alone picking up the phone)) just says to me that they, along with others, have got the pricing all wrong.
I disagree that the issue with the 296 is the engine or the looks; I think it's simply that the market has evaporated. You just rarely see supercars at all again these days on the road; I feel like I saw more Gallardo's and 360s causing about etc back in the early 00s than I do now. Everyone with 200k in their pocket seems to want an everyday Super SUV.
Guess its the same with the Aventador (£280k new) v Revuelto (£550k!!!) but again it's the monthlies - Yianny did a video on what his car cost him on finance and the monthlies are pretty doable for most who could have bought the Aventador back in the day too.....
I think the BIG difference though is that Ferrai finance is not a PCP product - so if someone is buying the 296 for £350k and keep it for 2 years when it's now worth £130k trade they are f
ked as they can't hand the car back at the end of a PCP as you would with a Range Rover for example! willy wombat said:
^^^^^ seems a little unnecessary.
It’s ok pal. Lots of people on forums with issues they can’t resolve in real life so become keyboard warriors 
Life’s too short people need to cheer up a little…lost a friend to prostate cancer this week was only 46…put’s life in to perspective.
Edited by W4NTED on Sunday 1st December 13:35
Sorry to hear about your friend and yes that was a little unnecessary.
I hadn't realised the Ferrari finance offer was a different product.
I suppose I am in a rare category of paying cash (a once off in life purchase for me, not just one of many) and not caring too much about depreciation. I have only bought one car new ever before (an Impreza Turbo decades ago) and i suppose I probably won't again, I intend to keep it for a number of years and inevitably I will take a bath when I eventually sell it. Yolo and all that.
I hadn't realised the Ferrari finance offer was a different product.
I suppose I am in a rare category of paying cash (a once off in life purchase for me, not just one of many) and not caring too much about depreciation. I have only bought one car new ever before (an Impreza Turbo decades ago) and i suppose I probably won't again, I intend to keep it for a number of years and inevitably I will take a bath when I eventually sell it. Yolo and all that.
W4NTED said:
In a way very true however speaking to a few good friends who are dealer principals at Land Rover, Lamborghini and Mercedes dealerships they tell me that nowadays over 80% of cars they sell are on PCP or some kind of finance with a balloon payment at the end. So it's more down to "monthly payments" now rather than a price of a car. For example the Range Rover SVR was an cracking car for around £100k in 2019 but the new version called the SV is touching £180k which is insane - nearly double the price however people still buy them as long as the "monthly's" are affordable.
very true, the SVR was absolutely everywhere back then - I actually think it was the most common £100k+ car on the roadshave only ever seen 1 of the new model
alltalk said:
I work in finance and didn't know about the Ferrari difference, sure I would have if I got to that point but an interesting observation.
It must be a problem in a world where most new cars are sold on PCP type agreements.I never really understood why they didn't offer a GFV product via FFS in the UK in the past. The numbers on those 296s over a few years would be just terrifying though if the depreciation quoted in this thread is accurate.
I was offered a PCP on a used Ferrari by a main dealer with VWFS 5 years ago; rates were higher than FFS balloon purchase but if I'd have used finance I would have gone with the VWFS as I like GFVs.
alltalk said:
I work in finance and didn't know about the Ferrari difference, sure I would have if I got to that point but an interesting observation.
FFS offer lease purchase as a finance option. Very similar in structure to a PCP but without the option to hand back at the end, you're obligated to make the balloon payment (or sell the car and cover the inevitable shortfall).Gassing Station | Ferrari V6 | Top of Page | What's New | My Stuff