599 GTB trade in values

I thought I would share. Inquired to a Ferrari dealership today about trading in my 2007 599 GTB with 17k miles for a car in their inventory. My 599 was purchased as "Ferrari Approved" last year from another Ferrari dealership with a new clutch, new tires, new battery, and all manuals/covers/charger. Car was also serviced last month with all fluids changed and accessory belts replaced. I was offered $105k, and dealership located in California. I was surprised how low the offer was.

 

Dealers are the worst that way.

 

Sell private party and pocket an extra 20k+

Robb

 

What's the realistic price that you think they can sell it for? I'm willing to bet it'll be 120, maybe a bit more if they're lucky and that's a big if.

Making 15k on a 105k "investment" isn't that great, especially when you consider that any repairs are going to cost quite a bit.

 

Even at $120k I’m keeping the car. I was just really surprised the depreciation drop in a year, over 20%. Wonder how low this car, and other v12s, will go. I assume we are not at the bottom of the depreciation curve with the 599 GTB (F1)

 

they cld get as low as 550/575

 

I'm afraid you're right, but it's such a great car it doesn't really bother me.

 

There is an obvious difference between the price you paid from a Ferrari dealer and the price a Ferrari dealer will purchase. They got to make money ! But I also confirm a drop about 20% in Europe for a year regarding 599's

 

One more factor - if you are trading, you get the "credit" for the tax on the trade value towards your purchase. For example, if your trade value is 100k towards a 200k car, you would only pay tax on 100k, so depending on your tax rate, this "adds" several thousand to the trade value.

 

Not in all states. Some do not tax only the difference, but the entire price of the new car. California is an example.

 

Right
California taxes you on the amount of the car, trade in is deducted after taxes.

 

We get screwed in CA


Sent from my 16M

 

We have to pay for all that sunshine and beaches

Sent from my SM-T580 using Tapatalk

 

And mudslides and fires and $5 gas

 

It’s not just the depreciation you’re feeling since purchase last year; the whole exotic car market has had a bit of a correction in the last 12 months.

 

There was a red 2008 that sold for $108,000 ,if I recall correctly ,at an auction recently . It also had very low miles less than 10,000.

It's like buying a bigger house in a downturn. if you are moving up you sell your existing home for less but you buy the bigger home for less as well.
A smart move if you can afford it.

 

I’ve been watching 599’s very closely for the last couple years, and they’re still dropping. I bought mine 6 months ago, and I was hoping that was the bottom. But it doesn’t appear so.

 

I'd for sure keep the car. The values have to be at or near the bottom and don't forget the car has a detuned Enzo V12, (imo) is much more exotic looking than the F12, and you could also argue that being one of the last iterations the F1 gearbox will someday be desirable. And the F12's 700hp is almost too much.

 

Best modern Ferrari GT by far. F1 transmission is an event in itself. Base Enzo engine. Last true pininfarina design and it shows in classic elegance over the rice-racer look of the f12 and 812. Even has a boot (trunk) instead of being a hatchback.

 

VA is worse and that's before the libs move in

 

Come on, let's not launch a value thread to P&R because we can't control our basic urge to be bitter.

 

I have just listed my 599HGTE up for sale in UK last week...........

https://www.pistonheads.com/classifieds/used-cars/ferrari/599/ferrari-599-gtb-fiorano-v12-factory-hgte-2010-----------------2013/10223973

Dealer offered me SOR and i would end up with £105.000 or if they purchased it from me to resell would offer me approx £90.000 in hand.

 

Fabulous spec,GLWS

 

Nice HGTE. An FChatter needs to buy her from you.