F-430 Used Market Values

definitely...there is an 05 coupe on ebay w/ 7xxx miles for 138 BIN...

 

Ferrari is NOT a mass produced car. Standard Depreciation does NOT apply, and I have seen nothing to support the argument. Ferrari is a hand built limited production car.


c-

 

Using just the word Ferrari is too bland I would say then. We're talking about specific models.

A car like the Enzo is unique and in limited quantity, etc.

Car like the 360/430 there are thousands upon thousands of them built. That certainly looks like a 'mass' of cars to me, whether you built them by hand or with a machine so what. It's all about how many are in the marketplace, how many more are being put in the marketplace, and the demand in the marketplace for them.

So in Lambo's case, at least with some of the cars in the dealer showroom that are going for 30% less than sticker, it's obvious they're accounting for depreciation in selling the cars.

For Ferrari's, if you've got an at least 2 year old F430 take it down to your dealer and ask what they'll give you for it on a buy or trade, and then you'll see where the depreciation is at. Because in that case it's a done deal. The dealer won't make an offer and then not write the check.

Just scanning the spread of the 'for sale' prices all over the Internet isn't as good an indicator, because people can stick whatever price they want on them. The higher priced cars that are used might NEVER sell at the prices people are asking, but it doesn't stop them from asking those prices. They might figure 'what the heck, I'll list it for sale and maybe someone will want to buy it'.

I was in a dealer just a month ago and they had (2) brand new red F430 spiders with delivery miles selling AT STICKER. Now that's not quite below sticker like Lambo is doing, but if people are buying the cars brand new at sticker now (rather than over sticker) with no waiting list or no ordering the car, it's obvious where things are headed, and two years down the road I can't see one of those spiders being worth any more than 60%-70% of its sticker value in an actual sale situation, especially with a F430 replacement on the horizon.

 

What he said .

 

Bingo. I have a 3.5 year old 430 I bought new and now has 14K on it. I figure, I'd lose a 3rd or so if I sold it. It would be even worse if it were a heavily optioned paddle car (mine is a stick). It would also be worse if it had "normal" sports car mileage like 30K in which case, depreciation on an '05 would be close to 50%. If you paid the 40K premium in 2005 to get one, then you are really getting killed. In fact, you could argue that 430's are hitting 50% depreciation quicker than any other Ferrari V8 two seater. The only regular production V8 Ferraris that are still selliing around the original sticker are carb 308's and even then, they have to be quite nice and relatively low mileage. Factor in inflation, and they don't look very good either. You could argue that glass 308's are regular production and they sell for more, but 33 years of inflation makes them look bad also.

Dave

 

Just a year ago this was a normal situation with any other car that was hot (some Porsches,AMGs or Lambos).
Ferrari being in a situation of "normal" depreciation and still selling for MSRP(new)in this day and age shows how strong this Brand is vs any other competitor.
The only problem is with some Ferrari owners spoiled by a long time of almost "0" depreciation on their cars (the ones able to buy at sticker).

 

if anyone cares, i've formalized my "want to buy" specs on the ferrariads.com section...right now there appear to be no fewer than 6 cars out there that pretty much fit my specs, the question is how many of the sellers have accepted the reality, i plan to wait another week or two to see if any others materialize, and then buy a car from whomever hits my bid first...Apparently there was some prankster or a 14yr old with a reckless mouse on eBay who was clicking the "Buy It Now" on a number of f430 spiders, but I've spoken to two of the formerly excited, now agitated sellers who informed me that the supposed winning bidder promptly went MIA on them (on more than one occasion)...Beneath that, the highest "real" bids I've seen on late model spiders have been in the $150-$160k range. I'll pay a bit more than that now, but I wouldn't expect to see a bid higher than $150k on anything (including '08s) by next fall...Of course, one could argue I'm "talking my position", but I just think the real buyer's universe has evaporated, so true "worth" now is really what someone is actually willing to write a check for today, and God knows dealers are not looking to take on any ballast.

 

I was ready to pull the trigger on a 16M at my dealer last week (the first one in the country). I had considered trading my F430 Sipder (07', 14,000 miles, red/tan, $265,000 MSRP, perfect condition, current service, all records, no stories, etc.). They offered me.....are you sitting down....$120,000 (not a misprint). Needless to say, I decided to keep the F430.

Tim

 

WOW!! glad I was sitting down......120K...

Enjoy the 430...

 

I have a friend who bought the 05 red tan 430 spider, 5K miles, for $160K on ebay from sarasota florida 3 weeks ago. The car is in great condition, I drove it and he got a very good deal. I just sold my 360 spider and am looking for a used yellow 430 spider in same $ range if anyone knows of one. High miles are fine, I drive my cars daily.

 

I'm also fine waiting 2 - 3 more months and getting one in the $140s.

 

When I sold my 2008 F430 Spider in the first week of January with less than 1,000 miles, wholesale bids were at $180k and falling. I felt lucky to sell it for $200k. I'm shocked how low wholesale is on a 2007 Spider and believe you could do much better than $120k in a private transaction.

 

With no disrespect intended, if someone paid $160k a few weeks ago (versus say, 6 months ago) for an '05...or for that matter, an '07, with 5K miles, I don't believe (especially if you note the '07 w/ 14k miles post whose dealer was only willing to pay $120k), your friend got a "very good deal". Ultimately, used cars (arguably, new cars too) are worth whatever someone's willing to pay north of $1, because the actual "cost" (labor/shipping/dealer, etc) has already been "paid"....Not to get too philosophical, but gold is only "worth" $1,000 an ounce today because people perceive it to be worth that...but one can't eat gold or live in a Ferrari (or did Jewel live in one in Alaska? ...never mind)...So now, we have an economy where people are asking, "What's this really ~worth~?"..and the answer is, if you love the car, it's still worth the $250k you paid a year ago...If not, it's something north of a Prius...maybe....For me, it's worth well north of that, but that dealer that only wanted to pay $120k should be telling one how many guys are out there now wanting to drop $$$ for a car that can easily buy a home or condo in Florida or CA today...and I know bankers, so I'm not kidding about that...

 

maybe if you wait long enough you will get it for free ...lol

 

Good one

G

 

LoL $120,000 wow, did he use a calculator or just pulled the number out of a hat?

 

I was just offered $125K for my manual shifter '06 coupe F430 just shy of 12,000 miles by a Porsche dealer as an early trade in on the incoming GT3. I rather sell it privately, I had a buyer at $145k, but it didn't happen.

I'm offering it at $145k and that's pretty close to a firm price.

 

If you have a friend that works at any car dealership have them go on the websights that lets them view what cars are SOLD for at auction. They are not trashed cars, they are trades that dealers are not willing to hold because of the declining market on trades. Its dropping fast. The dealers are probably trying to gross 15% on reselling trades. Its not happening if they hold them for more than 30 days. If any car is worth more than 50% after 3 years consider yourself lucky. You have been in a Ferrari bubble since 1999 and it has burst. Why do so many people not understand this? Its not a joke to think a 430 coupe upon replacement with a new model will be at $80-90K by this fall. Ferrari would have to delay or severly reduce production to avoid the 430 blending into 360 territory.

 

Sounds like the latter possibly.

 

I have updated my buy inquiry on FerrariAds.com. '08 sellers are still in a state of shock/denial, so I believe I will end up with an '06 or '07 (wouldn't want to be near an '08 seller next Fall though, man that's gonna be ugly)...Anyway, thanks to those of you who have contacted me, keep those cards and letters coming, I have an offer in on one, but I've long known sellers' mood swings rival women's ;-D and nothing is done till it's done!

 

I was recently offered 175k for my 2007 F430 with 890 miles on it. The car has F1 trans and is red/tan. This offer was toward a trade in for a new Gallardo lp560. I was also offered 165 for the car flat out to sell. I don't think i'm going to sell the car though, I like it too much and am not willing to take the financial hit.

 

The question is not whether you are willing to take the financial hit, but WHEN and HOW MUCH you are willing to take the hit. It’s only going to get worse year to year. Same thing applies to my 360 spider.

 

The best deal i would find is a 05 430 spyder with 20,000 miles for 135k.

I m worried about the mileage as to face potential problems ahead. I dont want to end up paying a huge amount to fix the car after its driven for that many miles.


is the price reasonable?

 

I think it depends on how long you plan to have it/how many miles you think you'll put on it. Values seem to go off mini-cliffs north of 20k/30k miles. And given what has been quoted here and elsewhere about the amount some dealers have been willing to pay for cars with lesser miles than the one you're looking at, that amount may be a touch high; Not that eBay is BeAll/EndAll, but I've been watching for months, and very few newer/lower mileage cars are getting bids north of $145-$150k, if they're getting a bid at all. I'm in the $170k-$175k'ish range for what I'm willing to pay, which bums out some sellers, but I know is more than 'fair' in this market. I also think in the past month more sellers are coming to realize which way the wind's blowing (especially after they find what a dealer will give them outright if its not obscured in a trade for a new one). In short, I'd worry less about maintenance than resale on your particular car, but in any case think you should spend more on a lower miles car if you can swing it.

 

yes and the truth is if you see your Ferari ownership in terms of potentially taking a hit when its time to sell then you shouldnt be in the car in the first place.