How best to finance supercar for 2 year ownership

[dank]

So I am looking at Huracan 610-4's and also the Mclaren 540c / 570s as my first proper supercar. My intention is to run the car for 2 years, possibly 3 years. I am fully aware of the running costs of such a vehicle and also eyes are wide open to the inevitable devaluation during my ownership. What I am interested in finding out is the best way to finance such a car, to minimise the overall financial loss. Can anyone give me suggestions of what the best way would be.

thanks

[MDL111]

The cheapest is probably to increase your mortgage by the amount required
I financed my car through the manufacturers finance scheme - 20 percent down and the I think a rate of 3.9 percent pa for 3 years (in Germany)

[s2000db]

Unless you can earn 10% or more on your capital, I’d pay cash for it, imo...

[Ferruccio]

Call me old fashioned, but I have always thought that if you can’t pay cash, don’t buy it.

Paying for a wasting asset with debt, makes it expensive.

[andyvdg]

Mortgage or Hire Purchase with no balloon. The larger your deposit the less you pay on interest. Or if you don’t need a loan just pay cash!

[RamboLambo]

Mortgage if you can't pay cash

[TheKC]

I’m on the same bot as you mate. Looking for my first super car. It’s doing my nut in trying to work out how it all works. Good luck and keep us updated with what happens.

[Never you mind]

Speak to JBR Capital. They deal a lot with this kind of thing and with super cars.

[MrK50]

Never you mind said:

Speak to JBR Capital. They deal a lot with this kind of thing and with super cars.

Thanks!

Feel free to DM me if you want a quote (or head to our website - not sure if I can post a link here or not), even if just to explore all the options available to you for the cars.

[Midgster]

I've never understood this whole "if you can't affford to buy it with cash you can't afford it" attitude. For the last 20 years I've bought sports cars I couldn't afford to buy outright, but could afford the monthly payments. Sure I've lost money on depreciating assets (with interest payment too) but have always understood that's the downside of owning any car (unless you're lucky) is that it will cost you money. But's that's the joy of owning these wondeful cars. It's a luxury, and luxuries generally cost you money. Unless it's your intention to make it your business to make money, accept they will cost you money. Just like a holiday. It costs money, sometimes lots of money. I've spent more on a 2 week holiday than I've lost in a few years ownership of amazing sports cars in deprecation, something that I've got pleasure out of everyday for years. But the holiday is gone after just 14 days. Sure, try to limit your losses, like shopping around for the best holiday deal to save costs as much as possible, but live life today, you may not be here tomorrow.....but don't be stupid!

Edited by Midgster on Saturday 4th August 19:35

[Calculator]

^ very sensible!

[Ayahuasca]

Midgster said:

I've never understood this whole "if you can't affford to buy it with cash you can't afford it" attitude.

The OP's question was:

OP said:

What is the best way to finance such a car, to minimise the overall financial loss.

The only correct answer is to use your cash.

[Pioneer]

Some of the wealthiest people I know still finance their cars. Just depends on where your money is best placed

[ferdi p]

Financed all my cars up until 2011, usually 20% down & the cheapest 3/4yr loan I could get my hands on. I even borrowed £160 from my mum to buy my Hillman Imp when i was 16
Over the years finance enabled me to enjoy owning Lambo's, Ferraris & many more. I now own my cars cash apart from my Gulia QV as I got 50/50 0% finance so why not!

Sure I would have saved loads on interest over the years but then I wouldn't have had the pleasure of owning them!

I've just turned 50 & still alive to tell this tale so don't pay attention to all this 'if you can't pay cash.......' bull5hit!

Just be sensible & stay well within the limits of what you can comfortably afford.

[Midgster]

Ayahuasca said:

Midgster said:

I've never understood this whole "if you can't affford to buy it with cash you can't afford it" attitude.

The OP's question was:

OP said:

What is the best way to finance such a car, to minimise the overall financial loss.

The only correct answer is to use your cash.

And I agree completely if you have the cash to buy it, but my input was due to the responses of others saying that if you can't afford to buy it outright, you shouldn't buy it at all.

[BlackR8]

I am also of the old school of buying cars outright, but know that as time goes on there are fewer and fewer people who prefer to do this. So much so that dealers treat you unfavourably for the sale if you do not request finance to go with the vehicle.

[Pioneer]

By the time today's newborns are driving actually owning your own car (especially dd's) will seem antiquated

[foxsasha]

dank said:

So I am looking at Huracan 610-4's and also the Mclaren 540c / 570s as my first proper supercar. My intention is to run the car for 2 years, possibly 3 years. I am fully aware of the running costs of such a vehicle and also eyes are wide open to the inevitable devaluation during my ownership. What I am interested in finding out is the best way to finance such a car, to minimise the overall financial loss. Can anyone give me suggestions of what the best way would be.

thanks

What do you think the running costs will be on a Huracan?

[Camlet]

1. Cash
2. If cash not available, mortgage
3. If mortgage can't be increased, shop around but it's a very expensive and illogical.
4. But take heart, 85% of all new supercars are financed with many being thru specific expensive schemes.
5. Enjoy!

[BlackR8]

mike74 said:

How are you going to continue to create an impression to others of being considerably wealthier and more successful than you really are once the 2 years is up?

That's a bit harsh!!