Why are used F430 still expensive?

A 360 is slow?!

 

The F430 is not cheap?

My goodness: What you get for the price!

 

The 430 is as cheap as it gets now even where I live. Can't go any cheaper, if it does, I'd just pick up an XKR-S instead.

 

I agree that F430's are still "expensive," at least in comparison to the 360. The 360 is only $10k-$15k higher priced than the F355 that has pretty much bottomed out in the depreciation curve (and is much more expensive to own), while there is a $40k-$50k+ difference in price from the 360 to the F430.

I've been watching F430 prices closely for the past 18-20 months, and really they have not decreased at all. Only a very few high mile examples are ever listed/sold below $120k, where as the bulk are still centered $130k-$145k. I think prices may even have firmed up when compared to a 1.5 years ago. Obviously, before this period, there was a steep depreciation curve from thier sticker of $200k+.

The 360 is the best value in the Ferrrari lineup in terms of performance/looks/depreciation/ownership costs. The F430 is also approaching the line of "more than enough power" in that the extra power you get in a F430 over a 360 really is not exploitable on public roads, but this is true of many cars today. Obviously a newer car is going to be more expensive and faster, but its really a dramatic difference in ownership costs of a 360 to 430 when including the extra sales tax and extra depreciation, for perhaps not that much different of an overall experience.

 

in the last six months I've been in easily half a dozen Ferrari dealers in the midwest and west coast; each has had 6-10 430s in inventory. I don't see how these cars have stayed over $100k given the apparent supply issues.

every other high-end luxury car (Gallardo, 911tt, Bentley Continental, etc) has fallen under $100k.

 

The market is always right (except if you bought real estate in 2006-7)

 

or dot com stocks in the late 90's/early 2000's, or CRE in the late 80's, or Greek bonds ever, or....or....

 

I remember a thread where someone complained that beach front property in LA hasn't fallen like the rest of the market. The only surprise here is why someone would think the beach RE market would react exactly like the rest. All markets are unique.

There are somethings that everyone still wants and will pay for if they can afford it. F430's are no different.

It's the market that decides.

Also, it should be pointed out that Ferrari hasn't made a single spider in 2 years and most won't get here for another. And, those 458 spider prices will be very high for quite a while (partly because the price of a new 458 is already 100 grand higher than a used low mileage good condition F430 AND 2012 MSRP's are going up).

Because of this, I expect F430 coupe and especially spider prices to not fall much more, no matter what the 360 does.

Lastly, it's the economy stoopid. If it goes up, expect prices to stabilize. If it goes down, there's no bottom to the floor.

 

The 430 is still a sensational looking car and despite being first made in 2005, it still looks current and that's why the public love it so much on the road.
This relates then to desirability and why prices are still so strong.
The new 458 is a stratosphere away in terms of ownership for most people.
Rob.

 

Until 458 drops significantly the 430 is still the car of choice for many.

I just bought a 430 a couple of months ago, and was willing to pay the right money for the right car (nearly double what some 360's go for) could never have afforded 458 at current UK pricing (still selling for above list).

 

The new price of the 458 is far more expensive than the new price of the F430 it replaced. Hence I don't agree that the F430 will lose value due to the introduction of the 458. It isn't a direct model replacement as they have made a consious decision to price the 458 far higher.

A 360 is slow???? Have you ever driven a 360? Or any Ferrari for that matter?

 

+1, had this race with this Chrysler K-car the other day in my 360...

 

There is no such thing as a cheap Ferrari. They are holding firm on price for reasons already mentioned.

 

As MSRP's continue to increase, the days of a sub $100k Ferrari within 5-6 years will go the way of the doo doo bird.

You can't expect a $300k car to drop to $90k within 5 years (unless it has an AMG badge).

 

You can still get a 3-pedal 430 is one reason.... A lot of people dreamed of clicking through a gated shifter and mastering (well at least trying to master...) proper shifting techniques as opposed to playing video games.

Cheers

 

Anyone have the data re 360 depreciation curve? I'd be surprised if the 430 was much, if at all, different than that rough curve...

I see that a 2005 F430 that stickered for ~$200k is now $125k ish at age 6.

I wonder how much a $170k 2001 360 was in 2007? Anyone remember? If around $105k then thats roughly the same curve (62% of sticker at age 6)...

(Btw, I'm guessing on the retail for a 2001 360...were 360s stickers around $170k or a bit more in 2001? - coupe not spider)

 

No doubt! IIRC 360s stickered for around $170 in 2000? (anyone remember?) While 458s are $300 today...11 years of advancements in technology and deterioration of the dollar will do that to you!

LOL...or Maserati! (I can say that cause I own one..paid exactly 50% of sticker at age 2.5 with 7k miles and perfect condition and it will be roughly 37% of sticker at age 5)...compare that with my CS that is at 62% of sticker at age 7...my guess is that the maser will be 33% at age 7...nearly half of the value retention of the CS...

 

go buy a Gallardo if u want something faster than a 360 and is "cheap". You can find $70k Gallardos.

F430s are still hot and to me better than the non LP Gallardos.. less supply and more buyers.. I went to one car meet it was me and a yellow F430. There were 8 Gallardos.. 3 orange, 3 yellow. Glad i didn't get a Gallardo... was gonna get an orange one lol only to find more of the same.

 

Maserati are a fantastic used buy. I would love to buy a couple year old GS.

 

This was certainly a factor for me, as was the great improvement in Ferrari's quality with recent models.

 

F430 price a function of supply and demand. Inflation will help support pricing as well.

Supply is Fixed: The F430 is No longer in production.

Demand for the F430 will not diminish because a few hundred 458s are imported. because of wealth expansion the demand will also expand faster than new 458s are imported (just look at the prices the 458 are demanding).

Demand for Spiders: Some buyers, like myself, just have to have a spider, thus the 458 will not increase supply until the 458 spider is imported in quantity.'

Inflation: Fixed assets are a hedge against inflation. To make my point assume that the asset has no deflation (which most cars do). From: http://www.westegg.com/inflation/
"What cost $140000 in 2006 would cost $151172 in 2010.
Also, if you were to buy exactly the same products in 2010 and 2006,
they would cost you $140000 and $128515 respectively."

In the real world your F430 will depreciate faster than the USD inflates. Thus you will realize a price drop over time. With strong currency inflation and weak asset deflation (F430 supply/demand), your F430 will depreciate at a respectable amount as measured in nominal USD.

If you are in the camp that believes the USD will experience high inflation over the next 5-10 years due to QE1, QE2, QE3, the current administration or sun spots, then you should buy fixed assets like a F430 or real-estate because they are excellent hedges against inflation, especially if you finance them, because the asset retains its value and the money you repay is in inflated dollars. So tell your wife you are buying the F430 to hedge against inflation!

One interesting fact: Once you are dead, there will be someone waiting to buy your F430.

Personally: The most expensive part of my F430 purchase was the time "spent" waiting to make the purchase.

*I am not advocating buying real-estate!
**I am not a certified financial planner. I am not qualified to give financial advice.
***I am a silly little monkey.

 

All makes sense...but the market also tells us that cars are not "assets" in some comparable sense (to other fixed assets like land and even buildings) because they depreciate due to age and wear and tear and usage...that is the largest impact on the downward slide of car values...greater, IMHO, than the impact of supply/demand (which, btw, is not balanced currently and is seeing falling prices in general to move the inventory...at least that's my take on the marketplace over the 9 months I've been following it).

 

Post of the Month!!

 

Here's the real bottom line......

Ignore asking prices.

Do your homework.

Walk up to seller with checkbook out. Start making offers. Then you'll see where prices truly are. In this economy, nobody is dropping prices for tire kickers. This goes for anything that's for sale.

Give it a couple months too. Cold weather makes prices drop.