Supercar decisions.

[TheKC]

Hi guys, just a little bit about me first. I've just turned 28 last week. I run my own Business, and make a nice amount of money for myself. Recently married and paying a mortgage too.

Now that I'm closing in on 30, I was thinking about a supercar. I've looked into the McLaren 540 or 570. I wanna go put down a deposit on one a few weeks prior my 30th. I know some of you are thinking it's still a while, but I figured I'd do all research now and save myself of any shocks etc later.

Now I don't have £160k+ lying around. But I was thinking of a hire purchase? Around £35k deposit and £1000 monthly payments.

As I've never had a supercar before, I was wondering if would be the right way to go about it? Or if there is anything else I should consider?

Thanks

[TheKC]

lucido grigio said:

TheKC said:

Recently married

Or if there is anything else I should consider?

Thanks

Ask the wife first.

Or maybe not.

Haha, I think she likes the idea of riding around in a McLaren. Plus I'm in her good books for now, the Gucci handbag helped! 😫😫

[TheKC]

Thanks for taking the time out to reply. All very good points to consider. That's why I've started taking into consideration all these small points from now. Gives me plenty of time to think about it.

[TheKC]

Thank you very much for the help.

It's got me thinking, possibly I could buy a used McLaren. Save me about £40k like suggested above. What I was thinking was, I only want it for around 3 years before kids etc grow up then switch to a family friendly car. It's always been a dream to own a supercar since my teens. Maybe if I was to sell it after 3 years, I could actually get my money back? Or most of it. Anyone ever done this? Any advise?


Thanks

[TheKC]

I should of explained my situation a little better I think. Sorry for the confusion. The amount I'm earning right now is completely seperate from my other finances coming in from my family venture. The money coming from the family business which I'm a part of goes towards other investments such a commercial property that we own and building up a larger portfolio. My current salary reflects on just my own personal business which I've gone ahead with. The thing is, I do have £160k but I'd rather spend it on some more property. I'd rather pay monthly and use my money else where. Im also paying a mortgage for my desperate commercial property too. I'm not sure how well this has come out, but that's my situation. Haha

[TheKC]

CaptainSensib1e said:

I'm sure you'll have already thought about this, but have you budgeted for running costs? I can't imagine these cars are cheap to service, or insure for that matter (especially at 28!). Do you have somewhere off road (and preferably under cover) to keep the car. Will you need another car to have as a run around, as you might want to drive it every day?

Funny you should mention that actually, I spoke with an insurance company earlier today which happens to be a tanant of ours and they mentioned about a better deal if I can insure around 6 cars which we do have. Around £2500 they said including a mclaren around £150k

[TheKC]

imahuman118 said:

The mclaren would depreciate really quickly, I'd suggest investing into a supercar which will hold its value, so try to get a build slot for the next generation 911 gt3 rs. The 991 gt3 rs were going for £100k over sticker when they hit the road. But if you don't care about the depreciation then go for it.

See that's what I was thinking? Like I said, I'm going to be waiting around 2 years anyway. So maybe the McLaren may drop a lot more, and I could grab one then? Used that is. The plan is to keep around 3 years or so, before kids arrive etc.

[TheKC]

andrewparker said:

There is no way you're going to get a GT3 RS slot without a history of buying new Porsche 911s.

What I was thinking too. But a Porsche isn't in the picture for me at the moment.

I was also thinking Ferrari possibly? Maybe a 458? I'm sure they'd plunge in price some more too Within the next 2 years.

[TheKC]

timbo999 said:

Which works out at something over 10 years of repayments... sounds more like a mortgage to me!

I agree, however there's an optional balloon payment at the end from what I know or you can walk away and return the car. Now that other members have mentioned, I may go down the route of a used one instead? Or a different car. Just depends on how stupid I'm willing to be with my money end of the day.

[TheKC]

davek_964 said:

I doubt that. People have been predicting the plunge in 458 prices to under £100k for as long as I can remember and they are nowhere near that. They have been rock solid for several years - and in fact, I browsed them yesterday and thought they'd gone up since the last time I looked (about a year ago).

In theory, 488 prices would force them down - however, the 458 is NA and personally I'd rather have that than a turbo,.

I think 458 prices are safe for a while yet.

I checked the other night, and I thought they had dropped? Maybe I'm seeing things. Thanks for your input. I guess I'll need to wait and see. My heart is set on the 570, everything appeals to me about it, apart from some of the McLaren servicing stories I've read on here.