And so it begins, car value crash... | Page 4 | FerrariChat

And so it begins, car value crash...

Discussion in 'Ferrari Discussion (not model specific)' started by 09Scuderia, Apr 13, 2020.

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  1. Solid State

    Solid State F1 Veteran
    Owner Rossa Subscribed

    Feb 4, 2014
    9,586
    Full Name:
    Maximus Decimus Meridius
    From the article:

    "Also, there will be a fuel economy and a sustainability angle to it. The fuel economy of the car bought, we suspect, will be 50% better than the fuel economy of the car scrapped."

    I don't see this at all. Last time people bought trucks and SUVs. Oil was -$47/barrel today as in pay you to take it. New cars today don't average 50% better mileage than the ones already on the road. There will be lots of stimulus to go around but there just is no incentive for better mileage. Rest of the article was meh. Mr. Jones is overpaid.
     
  2. The Red Baron

    The Red Baron Formula 3

    Jan 3, 2005
    1,110
    Full Name:
    Warren
    True Brent is ok and in reality the oil price will recover, but it show that anything can happen in this day & age.
    Basically what I am saying is that this forum " Crash Begins" is so dependent on a variety off factors.
    Look, I wish I new the answer but I dont, neither do all the other punters here but they put forward rational that makes the best sense at the time.
    I would not want anyone out there to base there future bets only on this forum.
     
    Texas Forever likes this.
  3. JNGALT

    JNGALT Rookie

    Dec 18, 2015
    1
    Cash or Gold
     
  4. Borrow’d Mine

    Borrow’d Mine Formula Junior
    Silver Subscribed

    Nov 28, 2019
    808
    Florida
    I already stole it but gave credit to F-chat :)
     
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  5. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    Cash. Maybe even stocks. The fed will buy them if they have to


    Sent from my iPhone using Tapatalk
     
  6. G. Pepper

    G. Pepper Three Time F1 World Champ
    Rossa Subscribed

    Mar 15, 2012
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    Texas/Colorado
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    George Pepper
    I'm ready to buy a 456M manual I found, but I put that on hold because I don't know WTF is going to happen. This is all terra incognita for me.
     
  7. IloveGT

    IloveGT Formula 3
    BANNED

    Oct 17, 2015
    2,419
    smart!
     
    TKSA, Boomhauer and G. Pepper like this.
  8. ross

    ross Three Time F1 World Champ
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    Mar 25, 2002
    36,210
    houston/geneva
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    Ross
    just remember to buy things you love for one reason or another, because you never know if you will be stuck with it for years.

    i am offered all sorts of cars to buy, and many of them intrigue me, and i get interested......and then i sit back and evaluate how much i 'love' the car.....and that usually calms me back down.

    my own criteria is that the car has to be significant in some way - either a watershed moment in design, power, competition etc.

    and i do not like to sell - almost every time i have sold a car i regretted it later, so now we try not to sell - which makes storage an issue, but hey thats life.

    anyway, just make sure you buy something you really love since it might be in your garage for a while.
     
    tres55, VAF84, open roads and 11 others like this.
  9. Texas Forever

    Texas Forever Seven Time F1 World Champ
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    Apr 28, 2003
    75,396
    Texas!
    I knew I had a problem when my car insurance was $1,000 a month and the cops thought I was growing weed in the garage.
     
  10. Thecadster

    Thecadster F1 Veteran
    Rossa Subscribed

    Apr 27, 2017
    6,705
    This resonates with me perfectly. I too have a “buy and hold car” sensibility. I commiserate with the storage problems too.
     
  11. italiafan

    italiafan F1 World Champ
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    Jul 19, 2006
    16,110
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    Stickbones Swagglesmith
    I too am limited by garage space.
    To buy something new something old has to go; thing is, I love my “old” cars so much I can no longer part with them.
    I did replace my F12 recently with an 812SF, but that is NA V12 for NA V12, so relatively easy to do.
    Very little interest in changing out a beautiful NA engine for a turbo, and zero interest in doing so for a hybrid (and by “zero” I mean I have more interest in crushing my nuts in a red-hot acid-coated vise).
     
    Julia, ryalex, Qksilver and 8 others like this.
  12. paulchua

    paulchua Cat Herder
    Lifetime Rossa Owner

    Jul 1, 2013
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    It may have been mentioned already in this thread if so apologies. I do want to say my talks with local exotic dealers have shown some surprising resiliency in the market.

    Also, in the last meltdown of 08, I do want to remind folks it birthed one of the most massive run-ups in valuations for classic cars.

    I encourage folks to read Ferrari's latest Q1 report; it showed they are anticipating a recovery in H2.

    I think the Covid-19 is a bit overblown, this said, I acknowledge it is a serious virus, and one not to be ignored.

    I feel the response is an attempt to err on the side of prudence by authorities, and the pendulum swung far too much toward caution.

    I suspect that the lock down has created a loaded spring that will swing back the economy with a vengeance...(perhaps wishful thinking on my part.)
     
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  13. Gh21631

    Gh21631 F1 Veteran
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    Feb 24, 2011
    8,325
    East
    I agree
     
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  14. BLAMPEE

    BLAMPEE Man Card Status: Never Issued

    This is exactly what I have experienced within the Life Insurance Industry.

    I spend about $4k/month on travel and live on the road for about 21 days a month but since we got authorization to do the impossible--conduct sales and get signatures via Zoom, etc, my expenses have gone down to Zero.

    Word is they are going to keep Virtual Sales alive even after all of this CoVid passes, thus completely changing my life if I never have to leave my home office for the road again...

    Any change is scary after you've been doing the same thing for 12 years.......But this could be amazingly positive!
     
  15. BLAMPEE

    BLAMPEE Man Card Status: Never Issued

    I sold my F355 in 2012.

    Because of CoVid I decided I need another FCar and am currently trying to put together a deal for a Cali. LoL

    I GET IT!!! :p
     
    Texas Forever likes this.
  16. gh0st0

    gh0st0 Formula 3
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    Jul 2, 2018
    2,497
    Midwest
    Price watching, I’m seeing the same right now with little price deviation, time will tell
     
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  17. ttforcefed

    ttforcefed F1 World Champ
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    Aug 22, 2002
    18,772
    i think there is price resiliency for pre 2012ish. anything from 2015 on seems to be getting softer.
     
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  18. DIGMAN52

    DIGMAN52 F1 Rookie
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    Jan 30, 2004
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    Philip C
    We owned a 2013 California for 3 years, and loved the car, sound, way it drove. We had one year of regular 5 year warranty, and then bought the extended warranty for 2 years. It was totally worth it, as our top got hung up once or twice a year, and service had to be done. That would be my only worry on the California.

    PPI first, offer after in my opinion.
     
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  19. leopoldo

    leopoldo Formula Junior

    Mar 10, 2013
    655
    Full Name:
    mark1
    Everybody speak about a crash price for Ferrari Market . Here in Europe zero 812 under 270000 euros and zero Ferrari pista under 305000 euros.....
     
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  20. paulchua

    paulchua Cat Herder
    Lifetime Rossa Owner

    Jul 1, 2013
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    Also what I've noticed is what a 'crash' is means different things to different people.

    To me crash means something ala late 80's, specifically a full reversion to the long term mean in light of a short term high peak.

    Very different then say what we saw in 2016ish where you saw a 'correction'

    One is a cliff, the other is a slope.

    If a 'crash' happens, great - I'm going to need to find some additional garage space. If it's just a correction, great - I wasn't planning on selling anyway - maybe more enthusiasts can join the party.

    Just my thoughts.
     
  21. Tamahal

    Tamahal Formula Junior

    Mar 8, 2019
    480
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    TAMAHAL
    wow!! i just saw that Manheim has a couple of Pista in the mid $400,000 range. Super low miles , isn't that cheap? I thought they were trading hands in the $600,000 range. What am i missing..
     
  22. ttforcefed

    ttforcefed F1 World Champ
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    Aug 22, 2002
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    manheim has pistas????? i dont have access anymore but im shocked.
     
  23. Tamahal

    Tamahal Formula Junior

    Mar 8, 2019
    480
    Full Name:
    TAMAHAL
    ya a Red 2019 with 880 miles .... asking $479K .. and there is a yellow one with 2000miles asing $429K... isn't that crazy??
     
  24. C50

    C50 Formula 3

    Aug 19, 2016
    1,729
    808
    Without knowing the specs, difficult to know the degree, if any, of crazy
     
  25. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    yeh that makes no sense...i expected the retail market to be sluggish for them but to end up at manheim it means demand (lack of) is an a whole nother level...
     
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