Bought a 720s! My 1st "supercar" Wish me luck!!
Discussion
Kent Border Kenny said:
AstonExige720 said:
So you’re saying that a 720s at around £140k now will be around £95k in less than 18months? (720s will be 5yrs old in May 22)
I can’t see that to be honest.
If you look at my first post I said £20k per year on the coupe and £40k on the spider. How much do you thing a £140k coupe will be worth in two years? Are you confident you’ll be able to sell it for over £100k? That seems very optimistic to me.I can’t see that to be honest.
AstonExige720 said:
You said you expect the 720s to be in selling in the mid 90’s when they’re 5yrs old. So May next year you’re suggesting the 720s will drop from circa £140k to £95k. I would be very surprised if that is the case, just can’t see a drop like that. Depreciation curves flatten, but you’re suggesting they will fall sharply again after the curve has started to level. Outside of some extenuating circumstances, not going to happen.
They aren’t at £140k today, there are offers below that so deals will be getting done at low 30s.I think that you are indulging in some motivated reasoning here, based on your ownership. Go back to my original point, I said that I think that you are currently dropping £20,000 per year; if you disagree what do you think that the rate is?
Rocketreid said:
More to the point, where are you getting your incorrect information from ?
I gave you my source above; there was no waiting list of lack of availability when I was looking two months ago.Now, where are you getting the information from that supplies are being restricted?
Edited by Kent Border Kenny on Friday 1st January 09:00
Kent Border Kenny said:
I gave you my source above; there was no waiting list of lack of availability when I was looking two months ago.
Now, where are you getting the information from that supplies are being restricted?
They’ve dialled back production.Now, where are you getting the information from that supplies are being restricted?
Edited by Kent Border Kenny on Friday 1st January 09:00
Kent Border Kenny said:
AstonExige720 said:
You said you expect the 720s to be in selling in the mid 90’s when they’re 5yrs old. So May next year you’re suggesting the 720s will drop from circa £140k to £95k. I would be very surprised if that is the case, just can’t see a drop like that. Depreciation curves flatten, but you’re suggesting they will fall sharply again after the curve has started to level. Outside of some extenuating circumstances, not going to happen.
They aren’t at £140k today, there are offers below that so deals will be getting done at low 30s.I think that you are indulging in some motivated reasoning here, based on your ownership. Go back to my original point, I said that I think that you are currently dropping £20,000 per year; if you disagree what do you think that the rate is?
Going from your first post you said we will see 720’‘S at mid 90’s by the time they’re 5rs old. So less than 18months? And yes, some low spec, high mileage cars are in the 130’s, but the average 720s, the early, average to good spec ones are £140-150k. So what is that average price likely to be in 18months? Certainly not £95k. Again maybe a poverty spec high mileage car will be close to £100k, but even that I can’t see them at £95k. Maybe a written off one?
(Remember, we are focusing on one figure here, asking price, so we’re comparing apples with apples. Otherwise we could suggest 650’s will be in the 60-70’s as that is what they are likely to be changing hands at in the trade.)
But the whole point of your original post was looking at values compared to the 650s and likely depreciation. I agree, the 650s is definitely the right choice if deprecation is your priority. It’s the older car further along the deprecation curve, but as the 720 comes of age the trajectory is also starting to level out. McLaren’s plummet in value for the first 2yrs, more than most, but then from what I can see they level out quite sharply, making all McLaren’s great value for money (if you ignore the internet haters)
If you look at my first post, you can see I had originally put a deposit down on a 570s, in March. That same spec, mileage car would cost me on average an extra £5k to buy right now. I also think the 650s and 12c have firmed up. These cars will always prop up the later variant, particularly with the move to hybrid next in line.
From what I can see, McLaren’s reputation, the one that has artificially? increased depreciation, is starting to improve. As they get more established and improve the used car ownership experience, why shouldn’t their values at least keep track with the equivalent Ferrari or Lamborghini? Why is a 458 £130k when the 650s is £85k? Why is a Hurracan £120k when a 570s is £90k? We all know McLaren’s are more capable cars. The rest is subjective. So maybe we will start to see the gap closing as demand increases?
Dissapointing that a great enthusiastic thread about the OPs 720 experience has been derailed into values and that buying a 650 makes better financial sense.
Both are going to lose money, and most people buying a Mac fully understand that.
Both views on buying older v's newer have their merits; there is no right or wrong to either opinions.
Buy the one YOU want and within YOUR budget.
Regards values, whatever you think your McLaren is worth at the moment is most likely very different from what you would actually achieve if you tried to sell. A good pal whom is a dealer and knows i am looking to get into another has been sending me 650s and 720s that dealers are looking to be underwritten and the prices are nowhere near any advertised prices.
Whatever model of McLaren you have just enjoy it and put depreciation and values to the side.
Both are going to lose money, and most people buying a Mac fully understand that.
Both views on buying older v's newer have their merits; there is no right or wrong to either opinions.
Buy the one YOU want and within YOUR budget.
Regards values, whatever you think your McLaren is worth at the moment is most likely very different from what you would actually achieve if you tried to sell. A good pal whom is a dealer and knows i am looking to get into another has been sending me 650s and 720s that dealers are looking to be underwritten and the prices are nowhere near any advertised prices.
Whatever model of McLaren you have just enjoy it and put depreciation and values to the side.
Like yourself, I honestly loved my mac.
The tipping factor for myself was after twice extending the warranty on the superseries, at 5 years + it was then going to cost around £6200 for warranty and service next year.
It doesn't seem an issue when you 1st buy, but a few years down the line it did to myself and I decided i would like to try and purchase an 18mth - 2 Yr old car, try and squeeze an extra years warranty added on and put the warranty cost towards that purchase instead....basically similar to what you discussed.
Self warranty was not a consideration as far more than what i paid towards the warranty was covered by the warranty...and mines was a corker that never gave me any noticeable niggles.
They unfortunately need to have a warranty; Thorney one is good but McLaren one near bulletproof and worth the extra costs in my opinion.
The tipping factor for myself was after twice extending the warranty on the superseries, at 5 years + it was then going to cost around £6200 for warranty and service next year.
It doesn't seem an issue when you 1st buy, but a few years down the line it did to myself and I decided i would like to try and purchase an 18mth - 2 Yr old car, try and squeeze an extra years warranty added on and put the warranty cost towards that purchase instead....basically similar to what you discussed.
Self warranty was not a consideration as far more than what i paid towards the warranty was covered by the warranty...and mines was a corker that never gave me any noticeable niggles.
They unfortunately need to have a warranty; Thorney one is good but McLaren one near bulletproof and worth the extra costs in my opinion.
Yeah the warranty really is bulletproof...even though my 570s has been reliable overall it's had niggly things needing work, the cost of parts and labour etc is eyewatering...paid £3k to warranty last April and it's not far off triple that in work carried out since so having it was a no brainer...will renew again next month. Add in tax, insurance and servicing and it's £5k a yr to run the car...not cheap.
I think when my warranty expires in December 2022, I’ll be in a dilemma in which way to go. Viable options seem to be:
Self warranty is an interesting one. I know there are lots of stories of big bills, but statistically you are much more likely to spend less than the annual cost of the warranty, otherwise these warranty providers wouldn’t be making any money.
- Extend with McLaren at £4k
- Go for a Thorney one at £3k
- Go for a 3rd party at £1.5-£2k?
- Play the odds and self warranty
Self warranty is an interesting one. I know there are lots of stories of big bills, but statistically you are much more likely to spend less than the annual cost of the warranty, otherwise these warranty providers wouldn’t be making any money.
AstonExige720 said:
Self warranty is an interesting one. I know there are lots of stories of big bills, but statistically you are much more likely to spend less than the annual cost of the warranty, otherwise these warranty providers wouldn’t be making any money.
The problem is insurance companies are spreading their risk across multiple warranties. Several massive bills can be mitigated by the other non-claimants.With a self warranty you are holding all your risk in one car - one large bill will be yours alone to pay.
Edited by R8Reece on Friday 1st January 15:14
Self warranty from my experience would have been a disaster so much so that I think I'd have moved the car on if I had incurred all the repair costs myself. I have self warrantied an Aston and R8 previously but wisely didn't want to take a chance with a Mclaren. Also I learned recently that the hourly labour rates that Mclaren dealers charge the warranty company are cheaper than what you would get billed if you needed the work done without warranty.
I started another thread regards to Thorneys undertray video and asked for advice on what is covered with his warranty.
The video showed how a broken spring was discovered.
In the last 3 services my car a damper was replaced, the most latter for the same nearside rear broken spring as per the video.
They are covered by the mac warranty, I don't know regards Thorney.
If they weren't covered, them 3 items alone would be near £12k.
The video showed how a broken spring was discovered.
In the last 3 services my car a damper was replaced, the most latter for the same nearside rear broken spring as per the video.
They are covered by the mac warranty, I don't know regards Thorney.
If they weren't covered, them 3 items alone would be near £12k.
My car has had a number of niggles in the time I've had it, and has had some warranty work. I'd be surprised if the warranty has paid for itself yet though.
I haven't decided yet what I'll do when mine is due in August. Thorney is tempting by price, but I'm pretty sure I don't want my service and warranty work to be ~100 miles away. I would be happy to self warranty I think, except that I think it would make a car that's already fairly tricky to sell much harder.
I haven't decided yet what I'll do when mine is due in August. Thorney is tempting by price, but I'm pretty sure I don't want my service and warranty work to be ~100 miles away. I would be happy to self warranty I think, except that I think it would make a car that's already fairly tricky to sell much harder.
Kent Border Kenny said:
If I’d wanted a coupe I might have gone the same way but a 720 Spider was going to be £200,000, so I didn’t.
I think that the 650 spider will cost well under £10,000 per year to own compared to £20k for the 720 coupe, and £40k for the 720 Spider, so I’m happy to have gone with the 650.
Yeah I think a 650S at £90k from a McDealer with a years warranty included is about as good value as it gets for Mac ownership. Over two years think warranty (one year to buy), depreciation (assuming you px) and servicing would be well under £20k and might be a lot under.I think that the 650 spider will cost well under £10,000 per year to own compared to £20k for the 720 coupe, and £40k for the 720 Spider, so I’m happy to have gone with the 650.
Whereas taking on a 720 needs some bigger balls re depreciation cost.
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