MP4C, Man Maths and the Euro
Discussion
I guess too much time on my hands at the moment but I am wanting a 12C big time.
I have seen a 2012 MY with nice spec for sale in Germany and am very happy with LHD as I spend more time in Europe than the UK at the moment. Financially I suffer from a weakening Euro and get more depressed by the day as I watch the Greece debacle. As a Brit with the expectation in the medium term to come back to the UK permanently (with the need to exchange euro's held to £) I think to myself, wouldn't buying a 12C now be a hedge against a weakening Euro?
Man maths I know. My logic being that 12C prices have bottomed or will stay flat and a sale in the UK in the future will be possible. I accept that LHD has a bit of a stigma in the UK but that will be reflected in the future sales price. So, rather than sitting on Euro's in the bank earning nothing and possibly going down in value against the pound until I convert them, why not buy the car, use it and then sell in the UK. At current exchange rates the car I have my eye on is around £105k. Car was first registered in 5/12, has 10k miles and lots of options (ceramics, elite paint, full carbon in and out, lightweight wheels, full stealth pack, sports exhaust and IRIS/power upgrade). On checking the UK equivalent new OTR price was around £220k and current UK RHD prices for similar seem to be around £125k.
Buying LHD in Europe at a good discount to UK prices and enjoying the car has worked so far with my Challenge Stradale, so this only helps the man maths.
So PHer's and 12C owners, any thoughts on my plan / views on owning a 12C and saleability of LHD in the UK very welcome.
I have seen a 2012 MY with nice spec for sale in Germany and am very happy with LHD as I spend more time in Europe than the UK at the moment. Financially I suffer from a weakening Euro and get more depressed by the day as I watch the Greece debacle. As a Brit with the expectation in the medium term to come back to the UK permanently (with the need to exchange euro's held to £) I think to myself, wouldn't buying a 12C now be a hedge against a weakening Euro?
Man maths I know. My logic being that 12C prices have bottomed or will stay flat and a sale in the UK in the future will be possible. I accept that LHD has a bit of a stigma in the UK but that will be reflected in the future sales price. So, rather than sitting on Euro's in the bank earning nothing and possibly going down in value against the pound until I convert them, why not buy the car, use it and then sell in the UK. At current exchange rates the car I have my eye on is around £105k. Car was first registered in 5/12, has 10k miles and lots of options (ceramics, elite paint, full carbon in and out, lightweight wheels, full stealth pack, sports exhaust and IRIS/power upgrade). On checking the UK equivalent new OTR price was around £220k and current UK RHD prices for similar seem to be around £125k.
Buying LHD in Europe at a good discount to UK prices and enjoying the car has worked so far with my Challenge Stradale, so this only helps the man maths.
So PHer's and 12C owners, any thoughts on my plan / views on owning a 12C and saleability of LHD in the UK very welcome.
TISPKJ,
Thanks for your thoughts and helpful to get more insight. BTW, your new acquisition looks fantastic, enjoy.
At the moment my research is limited to PH sales which seem to indicate the 12C 2012 MY decent spec low mileage price is stuck at around 125k, so interested you were offered at 108k low season. Of course offer and actual deal price is another matter. Just to clarify, are you suggesting a LHD price of 85-90k against current market prices of around 125k or against lower winter prices - just trying to get a better view of LHD discount. I was thinking a 20% rather than 30% discount for LHD.
Re the FX rate, yes I wish I had switched out at 1.20 - 1.25 which was the best rate since I've been holding Euro's. I'm guilty of being complacent and now fear you are right, unlikely to go over 1.5 but would prefer to get back to 1.25 one way or the other over the next 3 - 4 years (hence the 12C as a LHD proposition, buying now at a good discount to UK RHD prices so even if no further weakening of the euro I can still (effectively) get a bit better rate when selling in the UK. For my man maths to work I really need some appreciation in the future (as I am seeing nicely with my CS).
Any further input / views most welcome.
Thanks for your thoughts and helpful to get more insight. BTW, your new acquisition looks fantastic, enjoy.
At the moment my research is limited to PH sales which seem to indicate the 12C 2012 MY decent spec low mileage price is stuck at around 125k, so interested you were offered at 108k low season. Of course offer and actual deal price is another matter. Just to clarify, are you suggesting a LHD price of 85-90k against current market prices of around 125k or against lower winter prices - just trying to get a better view of LHD discount. I was thinking a 20% rather than 30% discount for LHD.
Re the FX rate, yes I wish I had switched out at 1.20 - 1.25 which was the best rate since I've been holding Euro's. I'm guilty of being complacent and now fear you are right, unlikely to go over 1.5 but would prefer to get back to 1.25 one way or the other over the next 3 - 4 years (hence the 12C as a LHD proposition, buying now at a good discount to UK RHD prices so even if no further weakening of the euro I can still (effectively) get a bit better rate when selling in the UK. For my man maths to work I really need some appreciation in the future (as I am seeing nicely with my CS).
Any further input / views most welcome.
TISPKJ,
I Really appreciate the further insight on prices following your experience.
As you say, the market for 458 / 430 et al has firmed and seems to be sticking (let's not get into the debate of whether it is a bubble like 1990 and when will it burst) and I sense there is a level of acceptance of LHD in the UK for F Cars, Lambos and Porsche but not seen any LHD 12C for sale. Could this be a function of the McLaren brand being the new kid on the block?
I'll keep pushing the man maths though. Aesthetically, I much prefer the 12c to the 650 and widening model range. Also it's the first of what I hope will be a long and successful production car business so maybe some future value in that. Only time will tell!
I Really appreciate the further insight on prices following your experience.
As you say, the market for 458 / 430 et al has firmed and seems to be sticking (let's not get into the debate of whether it is a bubble like 1990 and when will it burst) and I sense there is a level of acceptance of LHD in the UK for F Cars, Lambos and Porsche but not seen any LHD 12C for sale. Could this be a function of the McLaren brand being the new kid on the block?
I'll keep pushing the man maths though. Aesthetically, I much prefer the 12c to the 650 and widening model range. Also it's the first of what I hope will be a long and successful production car business so maybe some future value in that. Only time will tell!
Good spot TISPKJ, although my position is I can't reclaim the VAT (personal asset) so the LHD price is 130k inc. VAT. Looking at PH for sales, it seems RHD 2013 spiders of similar spec are around 145k - 155k, say 150k so that makes a 15% discount for LHD, or am I missing something?
Re the car in question, looks great and the sort of spec I'm looking for, although I'm really after more of a stealth look - titanium being my pref. I suspect a spider would be a better sell to the boss as she is not ken on "another car"
LHD/RHD is an interesting one and I guess a personal preference. For me I really don't mind. My daily driver in Europe as well as the UK is a RHD car and I drive my LHD cars just as much in the UK as in continental Europe.
Re the car in question, looks great and the sort of spec I'm looking for, although I'm really after more of a stealth look - titanium being my pref. I suspect a spider would be a better sell to the boss as she is not ken on "another car"
LHD/RHD is an interesting one and I guess a personal preference. For me I really don't mind. My daily driver in Europe as well as the UK is a RHD car and I drive my LHD cars just as much in the UK as in continental Europe.
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