Dealers won't buy used 720s
Discussion
Unfortunately a sign of the times in the performance car market. McLaren has been the same since the 12C they have been so obsessed with their business plan that they laid out when first launching the brand ie new model every year they have not deviated from it to react to the changing market. The used market for McLaren has been in free fall from the outset, unlike Ferrari who try to control their used market through their network and in fairness to McLaren have had many decades to perfect it but even they are struggling in the current market ask any 488 owner trying to get out.
JRWAL said:
So due to a change in circumstances, offered my 68 plate 720 s performance to a couple of main dealers, and same response - over stocked at present. Had the same when selling my 570s. Disappointing to know dealers won't buy, or even offer a low price.
"even offer a low price"I know a few sellers that pushed their dealers to offer 'a price', and then got pissed at the derisory offer.
(around 70% to 75% of retail), therefore it might be more polite for them to refuse.
Unfortunately, its a no-win situation (for the dealers), as they are genuinely stocked up, Mclaren pushed cars into stock and then offered massive incentives to dealers to sell from Mclaren's own supply chain, meaning used cars fell off a cliff.
Most of the dealers are part of larger groups, whose boards just won't accept them buying cars into stock, that if they don't sell, need writing down by as much as £4k a month (every month).
This problem is the factory's doing, and largely down to overproduction.
To get out of your 720s, ring some of the Independents (such as Romans, Redline, Tom H) who seem to buy the odd car. Alternately to maximise the return, ring Alastair Bols, he knows the market really well, highly trusted and his SOR offering is good value.
I sold my Mclaren (650s) this time last year, after about 6 months of chasing the mkt down, it went to a trader for what at the time was thought of as a giveaway price. A friend has just sold his almost exactly the same year, miles 650s, for 30% less, and that was a real struggle, he tried the Mclaren dealers but their offers (if he could get them to offer) were around £30k less than similar cars they had in their showrooms.
Your going to have to sell privately or sell it well below it's worth. If dealers can't shift them then they can't buy them. It's a buyers market they all say but people are going to wait to see them bottom out. The buyers are too worried to buy and it makes sense to wait until they start selling.
As mentioned above I would try a SOR with Alistair Bols etc
As mentioned above I would try a SOR with Alistair Bols etc
I was told the other day that McLaren Glasgow has 22 540 / 570 in physical stock...i have no idea regards 720's.
That's a heck of a lot of models to try and push onto the market, so i would imagine if you offered them either of those models currently, they would only consider it if you were p/x ing it for an upgrade...i would imagine it would end up being a reasonably sweet deal but your just it kicking the can down the road.
As another poster stated, its only unique in this situation as McLaren won't bid ( maybe not to offend also? ) i know of someone with a 13mth Huracan that was offered a frankly ridiculous price to change to a Evo...likewise what Porsche are offering another friend for a late 991 towards a 992...the market has changed.
Buy an new Aston Martin or the top end Range Rovers and see what either of them brands will offer to buy back in 6months time....or buy a new Mondeo or Insignia at £30k and see what you are offered in 6mths time...the loss % will all probably be similar to initial price.
The elephant in the room is when you have purchased a McLaren at say the £180k mark... that leaves a heck of a lot of fat for potential bidders to dig into; the value of a car is only what someone shall actually pay for it, and how desperate the seller is to liquidate it.
Although i have never sold or bought through Alistair Bols, he was a fantastic help when i decided to go the McLaren route and just missed out on the car i was trying to make a deal on...i would also recomend that route but even for his size the last time i looked he had at least 2 720s that he has been offering for months...likewise with the delivery miles 720 spider that he now has advertised as huge savings on list as opposed to the POA when he 1st advertised it where someone must of thought they could still flip at a profit.
However, enough of the doom.
Best of luck with the sale.
That's a heck of a lot of models to try and push onto the market, so i would imagine if you offered them either of those models currently, they would only consider it if you were p/x ing it for an upgrade...i would imagine it would end up being a reasonably sweet deal but your just it kicking the can down the road.
As another poster stated, its only unique in this situation as McLaren won't bid ( maybe not to offend also? ) i know of someone with a 13mth Huracan that was offered a frankly ridiculous price to change to a Evo...likewise what Porsche are offering another friend for a late 991 towards a 992...the market has changed.
Buy an new Aston Martin or the top end Range Rovers and see what either of them brands will offer to buy back in 6months time....or buy a new Mondeo or Insignia at £30k and see what you are offered in 6mths time...the loss % will all probably be similar to initial price.
The elephant in the room is when you have purchased a McLaren at say the £180k mark... that leaves a heck of a lot of fat for potential bidders to dig into; the value of a car is only what someone shall actually pay for it, and how desperate the seller is to liquidate it.
Although i have never sold or bought through Alistair Bols, he was a fantastic help when i decided to go the McLaren route and just missed out on the car i was trying to make a deal on...i would also recomend that route but even for his size the last time i looked he had at least 2 720s that he has been offering for months...likewise with the delivery miles 720 spider that he now has advertised as huge savings on list as opposed to the POA when he 1st advertised it where someone must of thought they could still flip at a profit.
However, enough of the doom.
Best of luck with the sale.
Far from ideal situation but SOR would seem the only way to go on this. McLaren New Forest have two of the best looking value 570ss on sale right now one is basically brand new with full track pack etc just under £120k...prob £50k off list that one buyers market for sure. Hoping to trade in my V12VS against a 570s later in yr cost to change will be interesting but think if they lowball me on the Vantage I’ll get it back on the other side hopefully ! Think if ur trying to sell outright that’s where you’re gonna take a hit.
I bought my 720S through a McLaren Approved Dealer advertised as SOR. I still bought it for 10% less than advertised (£19,6000 discount). The seller then had to account for the commission paid to the Dealer for selling it – I don’t how much, but would suspect at least £10K.
In terms of cash, it’s £26.6K off the original expectations of the owner, but in my mind as a buyer, it was a reasonable 10%. If I were buying a used Audi, I would expect to settle on a discount of 10 – 15%. You see, it’s all relative. Don’t focus on the £, focus on the %.
In terms of cash, it’s £26.6K off the original expectations of the owner, but in my mind as a buyer, it was a reasonable 10%. If I were buying a used Audi, I would expect to settle on a discount of 10 – 15%. You see, it’s all relative. Don’t focus on the £, focus on the %.
mickpsu said:
I bought my 720S through a McLaren Approved Dealer advertised as SOR. I still bought it for 10% less than advertised (£19,6000 discount). The seller then had to account for the commission paid to the Dealer for selling it – I don’t how much, but would suspect at least £10K.
In terms of cash, it’s £26.6K off the original expectations of the owner, but in my mind as a buyer, it was a reasonable 10%. If I were buying a used Audi, I would expect to settle on a discount of 10 – 15%. You see, it’s all relative. Don’t focus on the £, focus on the %.
so the owner originally expected not to have to pay a fee for sor ?!In terms of cash, it’s £26.6K off the original expectations of the owner, but in my mind as a buyer, it was a reasonable 10%. If I were buying a used Audi, I would expect to settle on a discount of 10 – 15%. You see, it’s all relative. Don’t focus on the £, focus on the %.
andrew said:
so the owner originally expected not to have to pay a fee for sor ?!
Unlikely. My offer was 10% less than advertised, bringing it to £175K. Whatever he agreed with the McDealer was his business, but I would suspect at least £10K commission to the McDealer to make it worth their while. I have little experience with SOR, but from my perspective as a buyer, I don't care if it is SOR. I will still expect a discount. For all these reasons I’m so pleased I didn’t take the plunge on a Mclaren
IMO when you can’t or won’t buy your own product back you don’t have a brand or standing in the market place!
Forget the bulls
t they don’t want them “end off” it’s a joke and makes them a laughing stock,what a way to deal with customers!!!
The pre registering of cars to hit sales targets is bad enough, the pre registering of super cars to hit targets is laughable
this process simply mortgages the future for current greed and gains today, impatience and a false market!!!
I feel sorry for those that are stuck in it,I was very close myself but avoided the pain!
I’ve just sold my GT3 back to my dealer, cash offer great price no excuses, they wanted it.
Even though I have a GT3RS coming they didn’t take any advantage of me which on the purchase price which they easily could have done. They paid what they thought the car was worth, simple as that!
Mclaren should be ashamed to be in this situation
Very sad
IMO when you can’t or won’t buy your own product back you don’t have a brand or standing in the market place!
Forget the bulls
t they don’t want them “end off” it’s a joke and makes them a laughing stock,what a way to deal with customers!!!The pre registering of cars to hit sales targets is bad enough, the pre registering of super cars to hit targets is laughable
this process simply mortgages the future for current greed and gains today, impatience and a false market!!!I feel sorry for those that are stuck in it,I was very close myself but avoided the pain!
I’ve just sold my GT3 back to my dealer, cash offer great price no excuses, they wanted it.
Even though I have a GT3RS coming they didn’t take any advantage of me which on the purchase price which they easily could have done. They paid what they thought the car was worth, simple as that!
Mclaren should be ashamed to be in this situation
Very sad
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