720s Below 200K Already
Discussion
BlackR8 said:
Interesting how Salomondrin on Youtube has only just got his Porsche 911 GT2 RS and has decided to sell it as he feels the McLaren 720S he has beats it in most categories and is the one to keep. The market suggests that keeping the GT2 RS and selling the 720S would be the right thing to do in respect to residuals but nice to see someone bucking the trend and keeping the car that he enjoys more rather than picking one based on whether it may or may not depreciate.
He is a serial car flipper, he bad mouthes Ferrari because he's already on their black list. He made a big song and dance about not buying any more new cars because he only bought the GT2 to flip, and only bought the 918 to get on the VIP list and knows he'll get blacklisted from them too when he cashes out the GT2 He's only keeping the McLaren and saying how good it is so he can get a Senna allocation to flip, and he made endless Mercedes content on every car in the dealership to try and get the AMG to flip.
MartinRS2K said:
Serious question.
Is this a good deal or am I buying a car ready to plummet in value if a dealer is prepared to knock off £40k on a new car? I currently have a GT3 Touring and was looking to try and get a new GT3RS to go with it but this 570GT seems unbelievable value with £40k contribution.
I'm not trying to start another values and depreciation thread just wanting some knowledgeable advice as I know very little about McLaren's. Is this car a good spec or is it missing things that it really needs?
Looking at the advert, is the £40k dealer deposit conditional of a finance deal? If so, would the dealer not be recovering costs from the finance deal of 7.8%?Is this a good deal or am I buying a car ready to plummet in value if a dealer is prepared to knock off £40k on a new car? I currently have a GT3 Touring and was looking to try and get a new GT3RS to go with it but this 570GT seems unbelievable value with £40k contribution.
I'm not trying to start another values and depreciation thread just wanting some knowledgeable advice as I know very little about McLaren's. Is this car a good spec or is it missing things that it really needs?
That's a flat rate of circa 3.9% so the dealer wont be getting bugger all out of that other than a £25 document fee 
PompeyReece said:
Looking at the advert, is the £40k dealer deposit conditional of a finance deal? If so, would the dealer not be recovering costs from the finance deal of 7.8%?
ferdi p said:
I'd love to agree but all that insane performance & exposure hasn't helped demand or residuals. I personally think they have over supplied & with the unwillingness of dealers to keep prices strong by keeping them in the network (alla Ferrari) doesn't help at all...
that's true but all I'm saying is that the 720s has become a bit of a legend for its capabilities, many of those watching are young and eventually will be in a position to buy.Well said and correct IMO
nyxster said:
He is a serial car flipper, he bad mouthes Ferrari because he's already on their black list. He made a big song and dance about not buying any more new cars because he only bought the GT2 to flip, and only bought the 918 to get on the VIP list and knows he'll get blacklisted from them too when he cashes out the GT2
He's only keeping the McLaren and saying how good it is so he can get a Senna allocation to flip, and he made endless Mercedes content on every car in the dealership to try and get the AMG to flip.
He's only keeping the McLaren and saying how good it is so he can get a Senna allocation to flip, and he made endless Mercedes content on every car in the dealership to try and get the AMG to flip.
garyhun said:
garyhun said:
johnnyreggae said:
av185 said:
Just received this e mail from McLaren Manchester:
O/T but what does that work out as monthly & balloon ?It would be interesting to see what they would take as a cash offer on that car but I would imagine it would not be the £40k discount off list which presumably has some finance uplift included from the dealer.
nyxster said:
He is a serial car flipper, he bad mouthes Ferrari because he's already on their black list. He made a big song and dance about not buying any more new cars because he only bought the GT2 to flip, and only bought the 918 to get on the VIP list and knows he'll get blacklisted from them too when he cashes out the GT2
If he flips within the OPC network that won't be a problem.av185 said:
Sorry missed this and the short answer is I don't know other than the details already given on the ad.
It would be interesting to see what they would take as a cash offer on that car but I would imagine it would not be the £40k discount off list which presumably has some finance uplift included from the dealer.
Irrespective on whether or not its mandatory to take out the PCP, this is a fantastic deal and if i was looking for a 570GT i'd phone them up straight away..It would be interesting to see what they would take as a cash offer on that car but I would imagine it would not be the £40k discount off list which presumably has some finance uplift included from the dealer.
If i was Martin this would be my first choice..Strike the iron while its hot..!
av185 said:
garyhun said:
garyhun said:
johnnyreggae said:
av185 said:
Just received this e mail from McLaren Manchester:
O/T but what does that work out as monthly & balloon ?It would be interesting to see what they would take as a cash offer on that car but I would imagine it would not be the £40k discount off list which presumably has some finance uplift included from the dealer.
Nothing,Zilch,Diddly Squat and nothing that covers anything anywhere near a £40K discount / contribution
It's a simple case of the car NOT being worth £185k and McLaren know it!!!! Simple as!
Edited by Juno on Saturday 6th October 00:04
Juno said:
That's a flat rate of circa 3.9% so the dealer wont be getting bugger all out of that other than a £25 document fee
Thanks for the clarification PompeyReece said:
Looking at the advert, is the £40k dealer deposit conditional of a finance deal? If so, would the dealer not be recovering costs from the finance deal of 7.8%?
Juno said:
There is no finance uplift for the dealer when the flat rate being charged is 3.9%
Nothing,Zilch,Diddly Squat and nothing that covers anything anywhere near a £40K discount / contribution
It's a simple case of the car NOT being worth £185k and McLaren know it!!!! Simple as!
With a 7.9% APR the dealer will definitely be making money from the finance... it will be nowhere near 40k but I imagine it will be a couple of thousand.Nothing,Zilch,Diddly Squat and nothing that covers anything anywhere near a £40K discount / contribution
It's a simple case of the car NOT being worth £185k and McLaren know it!!!! Simple as!
Edited by Juno on Saturday 6th October 00:04
A couple of thousand?
“Are you having a laugh?...”.
7.9% APR when the risk free rate is 1%. Someone is making a nice tasty excess return almost risk free. I simply have to facepalm anyone who is willing to pay that sort of APR on a depreciating asset. Shoot me. I don’t care. But you are an absolute idiot if you take a deal like that.
The growth of finance has no doubt single handedly given rise to the huge number of models being released by the manufacturers at inflated prices because humans cannot wait to be gratified. But it will also prove to be the catalyst for another collapse in the market. And for sure some of the manufacturers won’t survive.
“Are you having a laugh?...”.
7.9% APR when the risk free rate is 1%. Someone is making a nice tasty excess return almost risk free. I simply have to facepalm anyone who is willing to pay that sort of APR on a depreciating asset. Shoot me. I don’t care. But you are an absolute idiot if you take a deal like that.
The growth of finance has no doubt single handedly given rise to the huge number of models being released by the manufacturers at inflated prices because humans cannot wait to be gratified. But it will also prove to be the catalyst for another collapse in the market. And for sure some of the manufacturers won’t survive.
Edited by WDISMYL on Saturday 6th October 11:14
Banks borrow from the market, finance company borrow from banks,dealer fronts for finance company so buy the time the deal hits the dealer the flat rate before commission starts accruing is around 3.5%
mcl570 said:
With a 7.9% APR the dealer will definitely be making money from the finance... it will be nowhere near 40k but I imagine it will be a couple of thousand.
ferdi p said:
If the deal is subject to having to take the finance, you simply take the finance & pay it off within 14 days or so...
Nowt they can do.
I got 20k off an i8 once & paid the finance off 5 days later, it cost me £133.
Correct and did you know sometimes the finance company charge the allowance back to the dealer in such cases for NOT qualifying the customer correctly Nowt they can do.
I got 20k off an i8 once & paid the finance off 5 days later, it cost me £133.
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