Annual supercar ownership cost = 10% of price?

[br d]

964Cup said:

br d said:

I'm afraid to look at these figures!

10% depreciation PA? Try that for the first year of a new McLaren

Sure, but with McLarens especially there's a levelling effect. My 750 will lose, what, £80k the minute I drive it off the forecourt? But it will probably "only" lose £100-120k over three years in total - so around 10-15% PA. My interim 720 spider was £180k (at the time the cheapest in the UK, I think) and most 2019 cars are around the £200k mark; so they've lost about £80k over four years, or just under 10% PA. Obviously dealer margin and mileage will matter, but dealer margin isn't depreciation, it's convenience - and mileage (or more accurately time behind the wheel) just helps your gchhe number.

Yeah that's true. The trick is not to keep buying new ones straight after the last one lost a fortune!
A lesson I don't seem to learn.

/Tangent. Been given a firm date on the 750?

[964Cup]

br d said:

Yeah that's true. The trick is not to keep buying new ones straight after the last one lost a fortune!
A lesson I don't seem to learn.

/Tangent. Been given a firm date on the 750?

Kinda sorta. I'm trying to delay it because I don't really want the car before Q2 next year. But it's spec-locked and has a theoretical FOK date of 1st November (apart from the carbon steering wheel trim, which is apparently suffering from supply problems). So if McLaren/MSO (it's an MSO colour) don't agree to delay it then collection could be 15th November. I need to catch up with James and find out what Woking have told him.

[br d]

964Cup said:

Kinda sorta. I'm trying to delay it because I don't really want the car before Q2 next year. But it's spec-locked and has a theoretical FOK date of 1st November (apart from the carbon steering wheel trim, which is apparently suffering from supply problems). So if McLaren/MSO (it's an MSO colour) don't agree to delay it then collection could be 15th November. I need to catch up with James and find out what Woking have told him.

Interesting, thank you.

I was told October a few months ago but haven't chased since, I've also ordered the CF steering wheel and an MSO paint job.

I'll call tomorrow.

[Gibbo205]

My 2014 Ferrari 458 cost me 150k five years ago with 13k miles. It is now on 27k miles and my rough cost have been an average of per year:
Insurance: £1100
Tax: £700
Tracker: £300
Servicing: £1000
Fuel: Lots ?????

So lets say £4000-5000 per year in running cost.

Its out of blue cost have been:

Steel brake conversion: £2000 (superior to ceramics in every way apart from dust and looks)
Gearbox rebuild: £8000
Tyres: £1000
Corrosion: £2000


So circa £13,000 in repairs and consumables during my ownership which we can say is another £2500 per year.


So yes in short the 458 has cost me pretty much upto £7500 per year to keep on the road over a five year period and circa 15,000 miles. Not cheap but not crazy.



My 600 LT Spider I have had one year so I cannot give as good as example but its pretty much as:
2020 600 LT Spider, £150,000 purchase price privately:
2 year extended warranty purchase which expires March 2025: £4691 with recovery
Servicing at McLaren: £950
Track day inspections: £450
Two rear tyres: £750
Road tax: £600
Insurance: £1200
Tracker: £300
Spare wheels and track tyres: £1500
Fuel: Lots ?????

Next years forecast cost:
Servicing: £950
Track day inspections: £450
Road tax: £600, but it does drop to £180 I think once five years old?
Insurance: £1200
Tracker: £300
Fuel: Lots


So £14,000 over two years with warranty cover included, servicing, insurance and tax etc. Fuel on top so lets just say £3000 per year so £20,000 in total which once simplified is £10,000 per year maximum based on heavy fuel consumption, so realistically more likely £8000 per year including warranty cover which covers entire car pretty much.

So yes in short 10% of value should more than cover any supercar costing 100k plus unless you get extremely unlucky.


P.S. I did not touch on depreciation, my 458 if sold to the trade would cost me circa uupto £40,000 in depreciation, less if sold privately, so far the 600 LT values seem strong so far less a hit.

Edited by Gibbo205 on Tuesday 26th September 10:58

[garystoybox]

Gibbo205 said:

My 2014 Ferrari 458 cost me 150k five years ago with 13k miles. It is now on 27k miles and my rough cost have been an average of per year:
Insurance: £1100
Tax: £700
Tracker: £300
Servicing: £1000
Fuel: Lots ?????

So lets say £4000-5000 per year in running cost.

Its out of blue cost have been:

Steel brake conversion: £2000 (superior to ceramics in every way apart from dust and looks)
Gearbox rebuild: £8000
Tyres: £1000
Corrosion: £2000


So circa £13,000 in repairs and consumables during my ownership which we can say is another £2500 per year.


So yes in short the 458 has cost me pretty much upto £7500 per year to keep on the road over a five year period and circa 15,000 miles. Not cheap but not crazy.



My 600 LT Spider I have had one year so I cannot give as good as example but its pretty much as:
2020 600 LT Spider, £150,000 purchase price privately:
2 year extended warranty purchase which expires March 2025: £4691 with recovery
Servicing at McLaren: £950
Track day inspections: £450
Two rear tyres: £750
Road tax: £600
Insurance: £1200
Tracker: £300
Spare wheels and track tyres: £1500
Fuel: Lots ?????

Next years forecast cost:
Servicing: £950
Track day inspections: £450
Road tax: £600, but it does drop to £180 I think once five years old?
Insurance: £1200
Tracker: £300
Fuel: Lots


So £14,000 over two years with warranty cover included, servicing, insurance and tax etc. Fuel on top so lets just say £3000 per year so £20,000 in total which once simplified is £10,000 per year maximum based on heavy fuel consumption, so realistically more likely £8000 per year including warranty cover which covers entire car pretty much.

So yes in short 10% of value should more than cover any supercar costing 100k plus unless you get extremely unlucky.


P.S. I did not touch on depreciation, my 458 if sold to the trade would cost me circa uupto £40,000 in depreciation, less if sold privately, so far the 600 LT values seem strong so far less a hit.

Edited by Gibbo205 on Tuesday 26th September 10:58

Think this is a nice, honest breakdown of true ownership costs.
Even what is deemed a pretty solid ownership proposition I.e. 458 would have cost c£75k to own over 5 years and 15k. If you’d been financing the car surely interest payments would have added ten of thousands to the true cost.

[NRG1976]

Gibbo205 said:

My 2014 Ferrari 458

Corrosion: £2000

Edited by Gibbo205 on Tuesday 26th September 10:58

Does the 458 suffer from corrosion issues? :’(

[Gibbo205]

NRG1976 said:

Does the 458 suffer from corrosion issues? :’(

Yes very common and normally shows itself in the arches and around rear taillights, similar issues in all pre 2015 Ferrari’s as seen it on odd Speciale too.

It’s just one of those things it’s actually oxidisation due to aluminium body and moisture getting under paint etc it’s just a thing to be mindful of but any decent body shop can resolve it, my rear arch went quite bad so I had Ferrari do the job and was expecting a 5k bill but it was just shy of £2000 so I’d not be put of buying a 458 or even one with slight corrosion as it’s not crazy expensive to fix and mine was done spot on and my car is triplo strato so not easiest colours to paint.

[NRG1976]

Gibbo205 said:

NRG1976 said:

Does the 458 suffer from corrosion issues? :’(

Yes very common and normally shows itself in the arches and around rear taillights, similar issues in all pre 2015 Ferrari’s as seen it on odd Speciale too.

It’s just one of those things it’s actually oxidisation due to aluminium body and moisture getting under paint etc it’s just a thing to be mindful of but any decent body shop can resolve it, my rear arch went quite bad so I had Ferrari do the job and was expecting a 5k bill but it was just shy of £2000 so I’d not be put of buying a 458 or even one with slight corrosion as it’s not crazy expensive to fix and mine was done spot on and my car is triplo strato so not easiest colours to paint.

Thanks for elaborating, I hadn’t realised, but at least it isn’t too bad. Another thing to look for in a potential purchase.

[dng992]

garystoybox said:

Think this is a nice, honest breakdown of true ownership costs.
Even what is deemed a pretty solid ownership proposition I.e. 458 would have cost c£75k to own over 5 years and 15k. If you’d been financing the car surely interest payments would have added ten of thousands to the true cost.

Yes but then OP has said - 'Steel brake conversion: £2000 (superior to ceramics in every way apart from dust and looks)
Gearbox rebuild: £8000' which is more unfortunate circumstance/personal choice. Taking that away and obviously not including something like insurance...seems very good

[garystoybox]

dng992 said:

Yes but then OP has said - 'Steel brake conversion: £2000 (superior to ceramics in every way apart from dust and looks)
Gearbox rebuild: £8000' which is more unfortunate circumstance/personal choice. Taking that away and obviously not including something like insurance...seems very good

Totally agree; but things do go wrong. My two year old 812 had a gearbox failure at 6k miles, which would have been a huge cost if not under the factory warranty. Don’t think the total cost over 5 years is bad at all imo. Easy to justify as enthusiasts, but the cost per mile is extravagant enough that those funding via borrowing (incurring even more cost) to have a bauble to dangle around their drive way will soon disappear from the market. Depreciation, as described above, returns and enthusiasts get to buy and enjoy cars at sensible prices once a few years old. I see this as a return to normality and something which is to be welcomed.

[Tom-M]

Very informative info there, thanks Gibbo.

If we take into account full cost of ownership on the 458 then we’ve got £40k loss of capital plus £150k loss of opportunity ( so either financing £150k or loss of investment ) - let’s say this is 5% to make things easy.

5% of 150k is £7.5k per year, so £37.5k plus the £40k - so £77.5k to own the car separate of running costs or £15.5k/year.

Add this to the £7.5/year running costs for £23k/year or £115k over 5 years for a cost of £7.50/mile - which seems to be the same ballpark as Justin’s 540C.