Everything you need to know before buying a used Ferrari 296 in South Africa — pricing by mileage, known faults, a buyer's inspection checklist, maintenance schedule and real owner feedback.
Hybrid V6 | 818 hpConvertible GTS | Open-air thrillUltra-rare in SA | Collector assetR250k+ annual running costs
8.2
Exceptional Hypercar, Punishing to Own
A masterpiece of hybrid supercar engineering and one of Ferrari's most collectible recent models, but only for buyers with deep pockets and acceptance of stratospheric running costs.
Pricing, specs and depreciation below are modelled on a 2024 Ferrari 296 296 GTS AT — figures will differ for other model years.
Est. Retail
R4,850k
Est. Trade
R4,450k
Annual Sales (SA)
~8
5yr Depreciation
12%
Ferrari 296 buyer's guide
The 2024 Ferrari 296 GTS AT represents an exceptionally rare entry point into modern Ferrari ownership in South Africa, appealing almost exclusively to collectors and ultra-high-net-worth enthusiasts willing to absorb stratospheric operating costs. This mid-engine twin-turbocharged V6 hybrid combines 818 hp with electric assistance for sub-3-second 0–100 km/h sprints, yet delivers the driveability and accessibility that makes it Ferrari's most practical offering. At 40,000–60,000 km, you're looking at a car still firmly in its first ownership lifecycle, with full factory warranty coverage extending through 2027 and Genuine Parts & Maintenance (GPM) protection likely still active. The convertible GTS bodystyle offers open-air engagement that the fixed-roof F8 Tributo cannot match, though aerodynamic efficiency suffers marginally. In SA's ultra-luxury market, depreciation has been gentle—the 296 holds value better than most supercars due to hybrid technology, rarity, and Ferrari's cult appeal—but running costs are brutal: servicing starts at R25,000 per visit, Michelin Pilot Sport tyres run R45,000 per corner, and insurance sits comfortably above R80,000 annually. Parts availability through Ferrari South Africa (based in Johannesburg) is reliable but lead times stretch 8–12 weeks for non-stock items. Resale strength remains firm among collectors, but this is fundamentally a six-figure annual commitment vehicle. A 2024 296 GTS AT at this mileage is best suited to someone who views the Ferrari as a portfolio asset alongside active enjoyment, not transportation—and who has already accepted that this machine will consume between R250,000 and R400,000 per year in combined servicing, fuel, tyres, and wear items.
vs Porsche 911 Carrera GTS (2023–2024): The 911 offers similar supercar performance and rarity but costs 15–20% less at purchase and entry—running costs are roughly half the Ferrari's, with more dealer support across SA. However, it lacks the emotional engagement and investment-grade pedigree of the Prancing Horse.
vs Lamborghini Revuelto (2024+, if available in SA): A true hypercar rival with V12 hybrid power and similar rarity, but significantly more expensive to acquire and maintain. The 296 GTS is the more accessible Ferrari hypercar experience, though less visceral than a full-blooded V12.
Ferrari 296 price in South Africa by mileageMedium confidence
Mileage band
Trade-in estimate
Retail estimate
0 – 20,000 km km
Est. R8747k–R13921k
Est. R10667k–R16001k
20,001 – 40,000 km km
Est. R8360k–R13305k
Est. R10195k–R15293k
40,001 – 60,000 km km
Est. R8050k–R12812k
Est. R9818k–R14726k
60,001 – 80,000 km km
Est. R7741k–R12319k
Est. R9440k–R14160k
80,001 – 100,000 km km
Est. R7431k–R11826k
Est. R9062k–R13594k
100,001 – 120,000 km km
Est. R7122k–R11334k
Est. R8685k–R13027k
120,001 – 140,000 km km
Est. R6889k–R10964k
Est. R8402k–R12602k
140,001 – 160,000 km km
Est. R6580k–R10471k
Est. R8024k–R12036k
160,001 – 180,000 km km
Est. R6347k–R10102k
Est. R7741k–R11611k
180,001 – 200,000 km km
Est. R6115k–R9732k
Est. R7458k–R11186k
200,000+ km km
Est. R5883k–R9363k
Est. R7174k–R10762k
Prices are estimated using modelled data for the SA market and may vary from an official industry valuation. Want the exact price for a specific vehicle? Use our Industry Valuation Report.
Common Ferrari 296 problems & repair costs
Hybrid battery degradation & module replacement
The 7.9 kWh hybrid battery can develop cell imbalance or full module failure around 80,000–120,000 km. Replacement costs exceed R180,000 and requires specialist Ferrari diagnostics.
Severity: HighEst. repair: R180,000–R280,000Common at: 80k+ km
Automated manual shifts can become hesitant or shudder under hard acceleration; clutch plates are an expensive wear item with factory replacement running R95,000 per set plus labour.
Severity: HighEst. repair: R95,000–R160,000Common at: 60k+ km
Carbon-ceramic brake rotor & pad replacement
Optional carbon-ceramic brakes (often factory-fitted on high-spec 296 GTS) wear rapidly under aggressive driving and replacement sets cost R65,000–R110,000 at Ferrari dealers.
Severity: MediumEst. repair: R65,000–R110,000Common at: 40k+ km
Buyer's inspection checklist
🔧Engine & Drivetrain
Verify hybrid battery SoH (State of Health) via Ferrari diagnostic — Battery modules can degrade silently; diagnostic readout confirms actual cell voltage and balance status.
Test DCT shift quality under full throttle acceleration in sport mode — Clutch slippage or soft shifts indicate wear; smooth engagement confirms healthy transmission.
🚗Body & Exterior
Inspect retractable hardtop mechanism and seals (GTS specific) — Hydraulic rams and weatherstripping degrade; water ingress damages interior electronics.
Examine carbon-fibre body panels for impact damage or hairline cracks — Carbon repairs are permanent and expensive; full panel replacement runs R25,000–R60,000.
💡Interior & Electronics
Test infotainment system, steering wheel controls, and driver assistance features — Ferrari's electrical architecture is complex; software glitches can render comfort systems unreliable.
Verify climate control & seat heating functionality (crucial for convertible use) — Convertible 296 relies on cabin conditioning; failure makes open-air driving uncomfortable.
📋Service History
Request complete Ferrari service records and hybrid system check sheets — Official service records prove proper maintenance and battery health monitoring.
Confirm GPM (Genuine Parts & Maintenance) plan status and transferability — GPM covers labour and parts; non-transferable plans leave second owner unprotected.
Owners praise the 296 GTS as a thrilling, accessible Ferrari with hybrid efficiency, but unanimously acknowledge crushing running costs and limited practical ownership experience. (78/100 owner approval)
👍
Breathtaking hybrid performance
2.9-second 0–100 km/h and sub-3-second real-world acceleration feel genuinely hypercar-tier; the electric motor provides low-end torque that makes the car usable in traffic.
👍
Convertible thrills without compromise
The GTS hardtop retains rigidity and aerodynamic stability; open-air driving at speed delivers Ferrari's signature emotional engagement without the weight penalty of traditional soft-tops.
👎
Runaway operating costs
R250,000–R400,000 annually in fuel, tyres, servicing, and wear items is a hard pill; owners report genuine shock at first tyre and brake replacement invoices.
👎
Hybrid battery anxiety
Owners worry about battery longevity beyond warranty; early reports of cell imbalance on high-mileage examples (80,000+ km) create resale uncertainty.
Ferrari 296 specifications
Engine
3.0L twin-turbocharged V6 hybrid
Power
818 hp (610 kW) petrol + 163 hp (120 kW) electric = 818 hp combined
Torque
680 Nm (663 lb-ft) petrol + 320 Nm electric
Transmission
8-speed dual-clutch automatic (Getrag DCT)
Fuel consumption
9.2 L/100 km (combined, petrol mode)
Fuel tank
75 litres
Boot capacity
296 litres (GTS convertible)
Kerb weight
1,470 kg
Top speed
330 km/h
0–100 km/h
2.9 seconds
Service interval
20,000 km or annually
Service plan
Ferrari Genuine Parts & Maintenance (GPM) available
Warranty
Factory warranty 5 years/Unlimited km until 2027 (at 2024 purchase)
Original price
R5,250,000 (SA market, 2024 list)
Frequently asked questions
A used Ferrari 296 typically retails from around R4,850k depending on year, mileage and condition, with trade-in value around R4,450k. See the full pricing table above for estimates across all mileage bands.
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All information is either scraped, searched from live sources or AI training data. It is intended as a general research guide only and may not represent actual transaction values for a specific vehicle. RideReport is not a licensed valuations provider.