Offered 296 GTB (£150k)

[PaulCar1]

Hi,

My friend has offered me his 296 for a very reasonable price, however it does have 24,000 miles on it as he drives it daily and has done many many European roadtrips.

It still has 2 years of warranty left which eases my concern on the mileage… which to be honest is still only 24,000 miles on a modern car, right?

He has a new Ferrari arriving so he has offered the car to me instead of a trade in.

Curious to hear if anyone would have concerns on the above, or has anyone seen any other 296 with such “high” mileage?

Thank you in advance for your help.

[Trev450]

It depends on
1. How much you want to own a 296,
2. How much mileage you'll be putting on it.

If you really fancy owning a 296, you probably won't find a cheaper one, and knowing who has owned and how it has been treated is a bonus in itself.

With regards to mileage, if you intend to use it in anywhere near a similar manner the total mileage when you come to sell will be a massive turn off for most buyers. If however, you will be covering minimal mileage and/or intend to keep it for a good while, it then becomes far less of an issue.

[Luke.]

I don't know why you wouldn't just got for it.

Seems like a total no brainer.

[andrew]

try getting a trade bid on it with what is perceived as such a high mileage

[Luke.]

andrew said:

try getting a trade bid on it with what is perceived as such a high mileage

Meh. It's almost 40k cheaper than the cheapest on Autotrader. JFDI etc etc...

[bennno]

PaulCar1 said:

Hi,

My friend has offered me his 296 for a very reasonable price, however it does have 24,000 miles on it as he drives it daily and has done many many European roadtrips.

It still has 2 years of warranty left which eases my concern on the mileage which to be honest is still only 24,000 miles on a modern car, right?

He has a new Ferrari arriving so he has offered the car to me instead of a trade in.

Curious to hear if anyone would have concerns on the above, or has anyone seen any other 296 with such high mileage?

Thank you in advance for your help.

Trade on a mint 6k mile car is £180-185k.

I’d say it all depends on how much you plan to use it and what age it is 22/23/24?

Will have the balance of 7 years service plan remaining.

[PaulCar1]

Thank you all.

The car is only 10 months old :-)

He takes care of his cars but drives them a lot and is constanty on road trips.

My daily commutes are short, and I will likely daily this, so no more than 2,000 miles a year.

I also like the fact that he can drive the car whenever he wants too, as he is genuinely sad to see it go as he built up a lot of memories from a lot of road trips.

I’ll likely pull the trigger on it today - thank you

[johnnyreggae]

What about pleasure miles ? It does seem a bit of a waste to average 4 miles each way in something like this even if it is probably all electric for that distance - even a Citroen Ami could manage that !

Edited by johnnyreggae on Monday 6th October 06:55

[r o n n i e]

Good luck and enjoy. 296 is an amazing driving car. Don’t feel too indebted, you are doing your friend a favour (not debating the rights and wrongs of mileage) as in reality a 10 month old Ferrari already with 24,000 miles is going to be otherwise a tough ball ache for your friend to shift.

[ex-devonpaul]

10 months and 24k is pretty good going in any car. Serious respect to them for using it like that.

I'll bet it runs a lot better than one 4 years old with 2,100 miles on it.

[swindler]

£15-18,000 a month depreciation?

[XMA Simon]

It sounds like a fair deal to me. I'd be totally fine with a car that has done that kind of mileage, even though that is not the norm for relatively new Ferraris. The car has been used on plenty of big mileage trip where the engine and fluids are all fully warmed up. The car has not been sitting static for extended periods with components requiring lubrication left to dry out. Sure the wear on consumables will be a bit higher and the ask price reflects that. I'd just keep the factory warranty active and keep enjoying the car.

Even if you double the mileage yourself, what are people suggesting that the car would be worth to the next buyer? Under £100,000? Come on now. The cheaper it gets the more it becomes in reach with a wider pool of potential buyers. Or just keep it!

[maura]

Hybrid Ferrari are like V12 Ferrari, they need mileage. Hybrid really do not not like sitting. I think that’s a good buy, and only 10 months old you should have 3 years and 2 months warranty left if UK car, and you have the option to extend that Factory Warranty to 8 years, before the 4 year expiry. Good deal, can’t go wrong with that especially knowing who drove the 24000 miles

[Ferruccio]

Luke. said:

I don't know why you wouldn't just got for it.

Seems like a total no brainer.

I’d never buy a car off a friend.

What if the engine or gearbox pop the next day?

[markiii]

its under warranty so whats the issue

[bennno]

swindler said:

£15-18,000 a month depreciation?

Not moving forwards thankfully... although to do £18k a depreciation in the 10 months then he'd have had to put £80k of extras on the car.

Owner has covered 3-5 years of average Ferrari mileage in 10 months.

Good buy given its still under warranty with 5 services left.

[simon_j]

It sounds like a good deal. Depending on whether you are going to extend the warranty (after the manufacturer warranty has expired) it’s about £14k for each two year block up to year 8.

[Ferruccio]

markiii said:

its under warranty so whats the issue

Warranties obviously always pay out 100% of any claim in your world?

[markiii]

A Ferrari Powertrain warranty on engine or gearbox, I'd bloody hope so.

Hows it any difference from buying it from the dealer or other privately?

[Luke.]

Ferruccio said:

markiii said:

its under warranty so whats the issue

Warranties obviously always pay out 100% of any claim in your world?

Live a little, dude...