California Pricing Collapse

They're getting older (16 years for the earliest ones), the DCT and roof can be scary expensive repairs once the machines are out of warranty, the prices are being pushed downward by newer models in the same segment (Cali T, Portofino, Roma/Roma Spider), the front V8 cars have always suffered some excess depreciation because some "purists" don't understand the point of them, and they tend to pick up a lot more miles than the mid-engine cars and the V12s because they're so much more practical.

All that adds up to the best bang-for-the-buck in the Ferrari world.

 

I usually don't post but I contend your belief is way off base. Where exactly can you find a "good example" with low miles in the 90's, Ebay?

Good examples from a Ferrari dealer, which means that they most come with the Ferrari Extended Warranty (I think up to 15 years in age) cannot be had for less then $110k. Relatively speaking the California is a bargain, but like all other Ferrari's low mileage, 8+ condition, carries a premium. Further, I believe the empirical evidence is that California's used pricing is actually decreased less then many other Ferrari's models for the same time period. ALL used car pricing has taken a hit, over the past 2 years, including many cars that normally don't appreciate as significantly as others. Case in point is the Mercedes G class.

 

Prices during the Covid years were inflated for almost every automobile, they went back to earth the past 2 years (not just for the Cali but for many other Ferraris, interesting depreciation video below).

A good example is still above $100,000 (for example I own a 2013 Cali30HS with carbon, Daytona seats always serviced by Ferrari, I get offers a bit above $100,000).

What’s very important to remember is that every Ferrari at some point reach a level where prices don't go down anymore (for cars in good condition), it happened to every model (including much older models). Calis are at or close to that point, they are too good a value around $100,000 (gorgeous, speed, handling, convertible, a Ferrari, …). Over the years, prices will increase with inflation.

 

Price decreases not just for the Cali but for many other Ferraris, interesting serious car depreciation video below:

 

Including Calis, F12s, …

 

Your empiric examples of calis in the 80-90k range is not wrong as they exist. But like a previous poster said, a good example (especially from a Ferrari dealer with CPO warranty) cannot be found that low. I have seen the 80-90k cars you're mentioning, but many require massive work to get up to CPO standard, then you have to purchase the CPO from Ferrari for a few more grand to have a decent warranty on those cars.

So if you buy an 80k car from a non-ferrari dealer, needs 20-30k of neglected service, plus 10k+ for power warranty add-on if approved, its not much of a bargain.

 

I'm about to put my 2015 Cali T up for sale ... it has 31k miles, nice options, upgraded HS Speciale mufflers, and has been remarkably trouble free in the 21k miles and 5 years I've owned it until a seal failed on the DCT, which I just had completely rebuilt (replacing all seals, bearings, sensors etc.) along with the annual maintenance and a close look at everything else on the car that might need attention with an open checkbook (pronounced fit) so if anyone is looking for a car they can rack up some miles on without living in fear of the inevitable DCT repair ...

Just a fantastic car, favorite of the three Ferraris I've owned but I've had some vision issues in my left eye and thinking I need something with a blind spot monitor, ironically.

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I wouldn't call it a collapse, but an overdue adjustment downward after the huge run up of the last few years. I bought my highly optioned 15 thousand mile Cali T in 2020 for $115K and drove the hell out of it for four years. I just traded it in at 36K miles for a Portofino at a high end used car dealer. Issues it had were: a front bumper repaint, small dings/dents in the hood and one wheel, significant dash leather shrinkage, seat bolster wear and scrapes on the lower air dam. I got $90K on trade for the car, they serviced/buffed it up, listed it for $109K and it sold in a week. If you are in the market for a Cali T and can find a nice low mileage(less than 25K) one for less than $100K, buy it.

 

I have a cali 30 with the handling package and love it!!! I was thinking of finding another so when it wears out i get one waiting to take it's place. I want the prices to drop

 

Yes, I bought it right and thoroughly enjoyed it. My only regret was buying the New Power Warranty for four years at $23K and using it only once to replace the A/C dash panel which just fell out($5K). I'm not buying it for the Portofino.

 

It's being sold by a broker, I think he knows the market value pretty well.

 

Does this DCT seal get covered under the power warranty ?

 

Not for nothing Rob , but that is one beautiful color combination. IMHO.

 

I believe it would ... although the power warranty specifically excludes leaks.

The problem is that experience tells that while the earlier Californias (pre-2013) had frequent issues with the speed sensors, which the later cars do not seem to suffer from, it seems all the Getrag DCT boxes (across all the Ferraris, as well as Mercedes AMG and the Ford GT, it's not clear whether the newer 8 speed box is any better) are eventually going to have a failure, more based on time than mileage. Mercedes acknowledged that by extending the warranty on the gearbox for 8 years, Ferrari, of course, did not. What seems to happen is the bearings generate some metal particles which can damage the seal, or the seal itself is degraded over time by the lubricant in that part of the gearbox. It will start dripping from the weep hole (when the car is running, Ferrari says a small drip is okay) and eventually progress to a leak. Low mileage, I would guess, is more due to the degradation than metal particles, my car failed at 31k miles.

The kits you can get will upgrade the bearings and then replace all the seals and sensors as a precaution. The gearbox should be good to go for a long time once that is done, and there are a couple of tricks they use to make it more bulletproof (like using Loctite on that particular seal and seals made of Viton which are more resistant to oil.)



I guess it depends if you want to gamble or not, I made it 5 years before mine failed, at $6000 or so a year that would have been $30k, nothing else went wrong with the car, so the eventual $15k repair was probably easier although it was not fun to write that check, I assure you. Dealer quote was $25-30k, for what it's worth.

 

Great video, thanks for the link. I'll use the money I save by forgoing the New Power Warranty to cover this in 4 years.

 

I can add a blind spot camera system to your Cali T and have it work withthe OEM Head Unit. I've done it with my own. IM me if interested.