List prices and depreciation? - Ferrari Life
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post #1 of 24 Old 02-28-2015, 07:22 AM Thread Starter
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List prices and depreciation?

Still on the hunt for a 458 for my buddy. Found a 2013 with 4xxxx miles, original MSRP of $262k

Ask is $250k.

1) are these cars sold for sticker new?

2) seems to me as the ask is high for a 2 year old, 2 owner car.

Thoughts?
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post #2 of 24 Old 02-28-2015, 11:37 AM
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Originally Posted by dave rocks View Post
Still on the hunt for a 458 for my buddy. Found a 2013 with 4xxxx miles, original MSRP of $262k

Ask is $250k.

1) are these cars sold for sticker new?

2) seems to me as the ask is high for a 2 year old, 2 owner car.

Thoughts?
Yes sticker - 8 cylinders drop 10 - 14% per year and 2.00 per mile.

Dealers deduct even more when buying 458's are below 200k - convince him to go with a Scud.

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post #3 of 24 Old 02-28-2015, 11:50 AM Thread Starter
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Yes sticker - 8 cylinders drop 10 - 14% per year and 2.00 per mile.

Dealers deduct even more when buying 458's are below 200k - convince him to go with a Scud.
Thanks. I've not seen a 2013 offered for sale that would reflect that level of depreciation unless I mis understood your math.

And, he wants a 458, not a Scud. Entirely different cars.

We have a tentative deal at $239,500.00 which I personally feel is fair.
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post #4 of 24 Old 02-28-2015, 11:52 AM
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Saying they sell for sticker is a little bit of a simplification. certainly in the beginning of the run.



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post #5 of 24 Old 02-28-2015, 04:08 PM
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Originally Posted by dave rocks View Post
Thanks. I've not seen a 2013 offered for sale that would reflect that level of depreciation unless I mis understood your math.

And, he wants a 458, not a Scud. Entirely different cars.

We have a tentative deal at $239,500.00 which I personally feel is fair.
What's the list?

Buying from a dealer vs selling to a dealer is where there may be a math issue.

Regardless a 2013 at least 10% & 15% should be easy enough to achieve.

09 Scuds - and there are a lot less produced / available than a 458 went from 300k to 180k retail - wholesale is around 150k.

Anyway - it's not a bad idea to grab the last generation NA V8's but dealers don't want them at almost any price.

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post #6 of 24 Old 02-28-2015, 05:16 PM Thread Starter
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What's the list?

Buying from a dealer vs selling to a dealer is where there may be a math issue.

Regardless a 2013 at least 10% & 15% should be easy enough to achieve.

09 Scuds - and there are a lot less produced / available than a 458 went from 300k to 180k retail - wholesale is around 150k.

Anyway - it's not a bad idea to grab the last generation NA V8's but dealers don't want them at almost any price.
Doug, I posted the list in the start of the thread. Regardless of how cool a Scud is, he wants a 458.
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post #7 of 24 Old 02-28-2015, 06:52 PM
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Doug, I posted the list in the start of the thread. Regardless of how cool a Scud is, he wants a 458.
Understand missed that 458 is a great car - good luck.

262k - 239k ... pretty close to the math I posted.

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post #8 of 24 Old 03-01-2015, 05:34 AM Thread Starter
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Understand missed that 458 is a great car - good luck.

262k - 239k ... pretty close to the math I posted.
Well using your figures, I was calculating 10% for 2 years and they your milage figure would put the car at $200k approx.
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post #9 of 24 Old 03-01-2015, 07:46 AM
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Well using your figures, I was calculating 10% for 2 years and they your milage figure would put the car at $200k approx.
We are only a few months into 2015 and I should have been more clear - wholesale not retail.

The reason I mentioned the Scud - not due to cool but it's run it's course of depreciation.

Given the amount of 458's and your original - ask is high ... there is A LOT of room between asking and sold price.

For fun - call a dealer and act as an owner trying to sell a 458 and be willing to bet I am closer than further away.

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post #10 of 24 Old 03-01-2015, 08:12 AM Thread Starter
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We are only a few months into 2015 and I should have been more clear - wholesale not retail.

The reason I mentioned the Scud - not due to cool but it's run it's course of depreciation.

Given the amount of 458's and your original - ask is high ... there is A LOT of room between asking and sold price.

For fun - call a dealer and act as an owner trying to sell a 458 and be willing to bet I am closer than further away.
Doug, the car is a 13 but delivered in 12. That said, it is a 2 year old car. Yes, tons of 458's on the market but as you know, lots of different colors and options. There are only 3 that fit what my buddy wants and those are not perfect fits (caliper color, etc). The car in question is also on consignment so that's another issue.

From my research it seems the figure we came to is fair. Not a seal but fair. Car also have warranty until December.

No worries, it's all good.
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post #11 of 24 Old 03-03-2015, 09:33 AM
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Doug, the car is a 13 but delivered in 12. That said, it is a 2 year old car. Yes, tons of 458's on the market but as you know, lots of different colors and options. There are only 3 that fit what my buddy wants and those are not perfect fits (caliper color, etc). The car in question is also on consignment so that's another issue.

From my research it seems the figure we came to is fair. Not a seal but fair. Car also have warranty until December.

No worries, it's all good.
It's fairly easy to figure out. Look on Ebay, and Autotrader.com and see what the asking prices are compared to orignal MSRP.

I think depreciation is closer to 10k per year, plus $2.00 / mile, not 10% per year. So after 1 year my 2013 458 with a MSRP of 288k would be selling for 276k asking. Believe trade in value I was offered 250k.

If he wants a cheaper price, then go with a 2010 or 2011, but you would not get the free 7 years maintenance, but you would get the pre-2012 software cars, with the better sounding exhaust.

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post #12 of 24 Old 03-03-2015, 11:31 AM Thread Starter
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It's fairly easy to figure out. Look on Ebay, and Autotrader.com and see what the asking prices are compared to orignal MSRP.

I think depreciation is closer to 10k per year, plus $2.00 / mile, not 10% per year. So after 1 year my 2013 458 with a MSRP of 288k would be selling for 276k asking. Believe trade in value I was offered 250k.

If he wants a cheaper price, then go with a 2010 or 2011, but you would not get the free 7 years maintenance, but you would get the pre-2012 software cars, with the better sounding exhaust.
Mark,

The 7 maintenance is not a benefit to him because we have no authorized shops near by. I will be doing the yearly fluids for him. Hope to be placing a deposit today and flying to see the car in 2 weeks or less then closing deal.
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post #13 of 24 Old 03-03-2015, 07:11 PM
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Mark - dunno when it started in the US but 2011 saw Ferrari offer the 7 year maintenance inclusive package throughout Europe.

Dave - hope everything goes smoothly for your buddy's new 458 purchase.

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post #14 of 24 Old 03-03-2015, 10:32 PM
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Well, Toronto is only 110 miles.


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post #15 of 24 Old 03-04-2015, 05:19 AM Thread Starter
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Well, Toronto is only 110 miles.


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It takes about 2 hours for us to get to Ferrari of Ontario. So, all in it would be a 6-8 trip.

Hardly worth it. Better off purchasing the materials and doing the work myself, IMHO.
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post #16 of 24 Old 03-04-2015, 10:53 AM
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It takes about 2 hours for us to get to Ferrari of Ontario. So, all in it would be a 6-8 trip.

Hardly worth it. Better off purchasing the materials and doing the work myself, IMHO.
My dealer is 200 miles away. They bring a trailer, come pick up a car, then bring the car back, pick up another, free of charge.

Peter,

I might be wrong, but I thought the US cars got free maintenance in 2012?

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post #17 of 24 Old 03-04-2015, 11:05 AM
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Doug, the car is a 13 but delivered in 12. That said, it is a 2 year old car. Yes, tons of 458's on the market but as you know, lots of different colors and options. There are only 3 that fit what my buddy wants and those are not perfect fits (caliper color, etc). The car in question is also on consignment so that's another issue.

From my research it seems the figure we came to is fair. Not a seal but fair. Car also have warranty until December.

No worries, it's all good.
Dave, happened on your thread and curious, I read it through. Seems to me like it is a buyers' market in 458's. Current Ferrari Market Letter lists 31 Italias and 18 Spiders for sale. That's almost half a hundred 458's and that smells like a glut. Go offer one to a dealer that's not a trade-in and see what it will bring. It I were really interested in one of these that I really liked I'd make an offer so low ball as to be almost offensive and listen to the response.

Of course i could be wrong.

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post #18 of 24 Old 03-04-2015, 11:25 AM Thread Starter
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My dealer is 200 miles away. They bring a trailer, come pick up a car, then bring the car back, pick up another, free of charge.

Peter,

I might be wrong, but I thought the US cars got free maintenance in 2012?
Yes, but they are not going to do that from another country.
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post #19 of 24 Old 03-04-2015, 11:27 AM Thread Starter
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Dave, happened on your thread and curious, I read it through. Seems to me like it is a buyers' market in 458's. Current Ferrari Market Letter lists 31 Italias and 18 Spiders for sale. That's almost half a hundred 458's and that smells like a glut. Go offer one to a dealer that's not a trade-in and see what it will bring. It I were really interested in one of these that I really liked I'd make an offer so low ball as to be almost offensive and listen to the response.

Of course i could be wrong.
You are correct and if someone was flexible on colors and options then they have lots of buying power. But, Nero / Cuoio is not that popular and that brings it down to 2 or 3 at most.

Anyway, we made the deal today and my friend put a deposit down. Flying to see / inspect the car on 3/20 and close the deal.
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post #20 of 24 Old 03-04-2015, 12:18 PM
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Originally Posted by dave rocks View Post
You are correct and if someone was flexible on colors and options then they have lots of buying power. But, Nero / Cuoio is not that popular and that brings it down to 2 or 3 at most.

Anyway, we made the deal today and my friend put a deposit down. Flying to see / inspect the car on 3/20 and close the deal.
Hope it's a superb car! Good luck

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