720s Below 200K Already
Discussion
I watched a SHMEE video the other day about his financing of the Senna and Ford GT,as well as he has done he didn’t have 1.5 million cash on tap.
He clearly describes buying the cars on finance and using the residual value to make the payments affordable.
With the two cars he has bought he may well be in a relitivleley safe position due to both the Senna name and rarity of the Ford GT,at the moment though he is clearly renting rather than owing these cars.
I think his intention will be to buy them at some point but only time will tell if he really is a true enthusiast or an enthusiastic complex business mascarading as a car flipper!
He clearly describes buying the cars on finance and using the residual value to make the payments affordable.
With the two cars he has bought he may well be in a relitivleley safe position due to both the Senna name and rarity of the Ford GT,at the moment though he is clearly renting rather than owing these cars.
I think his intention will be to buy them at some point but only time will tell if he really is a true enthusiast or an enthusiastic complex business mascarading as a car flipper!
Charlie360 said:
I agree, I think there's a lot of truth in the fact that the majority of current customers for those marks are not car nutters like us lot and if true this also goes someway to explaining why McLaren may be suffering more depreciation than Ferrari, Porsche and Lambo - given that it is a newer (to road cars) and less well known marque around the world, to most non-F1 fans, it's also less likely to be on the desirable list for those just wanting to tell their friends about their latest toy, if their friends have only really heard about F, P & L - though by no means the only reason.
Yes for sure, it definitely makes a difference being new to this market compared to the history its competitors have!BelfastBoy said:
Juno said:
I watched a SHMEE video the other day about his financing of the Senna and Ford GT,as well as he has done he didn’t have 1.5 million cash on tap.
He clearly describes buying the cars on finance and using the residual value to make the payments affordable.
With the two cars he has bought he may well be in a relitivleley safe position due to both the Senna name and rarity of the Ford GT,at the moment though he is clearly renting rather than owing these cars.
I think his intention will be to buy them at some point but only time will tell if he really is a true enthusiast or an enthusiastic complex business mascarading as a car flipper!
A bit of both, I think. He definitely started out as a true enthusiast, and I do think that his love for the cars is still very much alive. However, over time, the business side of things has become more apparent, putting crazy cars like the Senna within his grasp but - as you say - he's flipping his way up the ladder to get his hands on the keys very quickly. It was always obvious to me which cars he was angling for, with huge periodic promotion of Porsche, McLaren and Ford on his social media channels, inevitably resulting in "I'm getting a [INSERT LIMITED MODEL]!"He clearly describes buying the cars on finance and using the residual value to make the payments affordable.
With the two cars he has bought he may well be in a relitivleley safe position due to both the Senna name and rarity of the Ford GT,at the moment though he is clearly renting rather than owing these cars.
I think his intention will be to buy them at some point but only time will tell if he really is a true enthusiast or an enthusiastic complex business mascarading as a car flipper!
hornbaek said:
ralphrj said:
But as the car is depreciating it will be worth less and therefore less IHT will be due.
For example:
If someone has an estate large enough that £250k of cash in a bank account would be fully subject to IHT and passes away then the taxman would get £100k of it.
However, if that person instead decides to buy a 720s instead which depreciates £100k by the time they pass away then the only the residual value of the car is taken into account (£150k) so £60k goes to the taxman.
£100k was lost but only £60k was paid by the owner who benefited from the car. £40k was subsidised by the taxman.
Well if you use that kind of rationale for planning your old age then I wish you good luck For example:
If someone has an estate large enough that £250k of cash in a bank account would be fully subject to IHT and passes away then the taxman would get £100k of it.
However, if that person instead decides to buy a 720s instead which depreciates £100k by the time they pass away then the only the residual value of the car is taken into account (£150k) so £60k goes to the taxman.
£100k was lost but only £60k was paid by the owner who benefited from the car. £40k was subsidised by the taxman.
BelfastBoy said:
Juno said:
I can't see the bottom ever falling out of the Senna or Ford GT market so I think he is quite safe but lets start taking bets as to how long it is before the video "Why I'm selling the Senna or Ford GT" to arrive
I stopped following him on social media the day he announced he was getting a Senna. Good luck to the guy, he's now a recognisable brand all of his on, but not my cup of tea any more. However, if I were to guess, I'd say that the Senna might be more of a keeper than the Ford. While his loyalties tend to waver between whoever's limited edition car he's set his sights on next, there does seem to be a particular and well-established relationship with McLaren.SHMEE so possibly "Why I'm selling my Ford GT" video coming soon to a YouTube channel near you,lets see!
s2000db said:
Hahaha... The internet is full of people moaning about their Macs, seems to be a good way of attracting attention imo... If that’s being cynical then so be it.
But the other mistake that guy is making, is trying to circumnavigate his dealer, his contract is with the dealer not Mac.
The biggest issue for Mac would be if dealers start dropping their franchises due to pissed off customers, that would hurt Mac more than a few internet moaners.
He’s actually going about it the right way,dealers will not take cars back unless the buy back is underwritten by the manufacture. Although the contract is with the dealer you willBut the other mistake that guy is making, is trying to circumnavigate his dealer, his contract is with the dealer not Mac.
The biggest issue for Mac would be if dealers start dropping their franchises due to pissed off customers, that would hurt Mac more than a few internet moaners.
most certainly have to push all the way to court before the dealer budges!!!
Turbo cab said:
Sorry but your last sentence is incorrect.
I backed both my 720 and 570 to the dealer without even mentioning solicitors.
Well Sir you must be a geneous as I spent 32 years in the Motor Trade and never came across a dealer who would take back a car without first getting the manufacturers blessing. If a dealer makes a decision to take a lemon back without doing so then the manufacturer says on your head be it,it’s down to you.I backed both my 720 and 570 to the dealer without even mentioning solicitors.
So if you backed two cars with no solicitors letters then
a. The dealer must have lost circa £50-75k per car down to him
and
b. You must be able to bend minds like Uri Gellar bends spoons
Or
C. The dealer had already sought Mclaren permission to do so.
If dealers took back every car cart blanche that had a fault in the first 30 days then they would be out of business before the 30 days was up!
So did you get 100% back to invoice refunds or did you trade the 570 for the 720 on a favourable deal then sell the 720 back at a reduced cost under another complaint?
Me thinks I am not wrong but happy to be proved so
Edited by Juno on Sunday 17th March 11:04
Turbo cab said:
Oh ok I'll bite 
A) the dealer did not lose anywhere near this, the 570 I had for circa three months later came up for sale for £20k less than the full invoice value they returned me. The 720 later came up for sale at £30k less than they returned me of the full invoice value. This was both at main dealers, it's worth noting that in both of these cases I was willing to accept a cash settlement that I deemed realistic to keep the cars but all they could offer was a free service or two -the cash settlement I offered was less than what they ended up losing in both of these cases.
B) I genuinely wish I could - thanks for genius comment though.
This wasn't my first rodeo however, I had this previously with a Bentley that also had issues from a different main dealer that I backed without solicitor involvement. You are aware of how UK consumer law works with regards to cars developing faults within six months right? The car could have a rattle within 30 days of purchase that requires workshop time to rectify and the dealer has no legal right to even quibble this if the consumer wants to return it.
C) Cant comment on this but on all three occasions I've had to back cars it has been tied up relatively quickly, you are correct in that the loss being picked up from the manufacturer in most cases but if the dealer has to abide by the UK consumer law, and the dealer has acted compliant with this then I don't see how the manufacturer has an argument to not settle with the dealer.
With regards to your comments regarding dealers taking back cars within 30 days, I personally think they prey on the consumers ignorance and not knowing their rights. If you lump up £100k plus on a car and it rattles, technically it's not fit for purpose as something of this value should be built correctly. Don't get me wrong the McLaren's had a MULTITUDE of problems, the 720 even broke down 20 minutes after collection so they were bang to rights on both these cases so couldn't argue it, the Bentley on the other hand had a rattle and the stereo kept cutting out, easy enough to argue that it's not fit for purpose on a £160k car that's only three months old.
100% of all funds back on all three cars.
Don't get me wrong I'm not a serial backer, in the last two years alone I've been fortunate enough to own 14 or so super cars, a Lamborghini I picked up last year had a cracked fuel tank after a day and a problem with the fuel system a week later, Lamborghini responded by putting another years warranty on the car (5k value) and a £5k discount off another car I had on order, all of this was offered without asking - now that's how you deal with it.
I’d be surprised if most dealers don’t turn the lights off and lock the doors as you approach A) the dealer did not lose anywhere near this, the 570 I had for circa three months later came up for sale for £20k less than the full invoice value they returned me. The 720 later came up for sale at £30k less than they returned me of the full invoice value. This was both at main dealers, it's worth noting that in both of these cases I was willing to accept a cash settlement that I deemed realistic to keep the cars but all they could offer was a free service or two -the cash settlement I offered was less than what they ended up losing in both of these cases.
B) I genuinely wish I could - thanks for genius comment though
.This wasn't my first rodeo however, I had this previously with a Bentley that also had issues from a different main dealer that I backed without solicitor involvement. You are aware of how UK consumer law works with regards to cars developing faults within six months right? The car could have a rattle within 30 days of purchase that requires workshop time to rectify and the dealer has no legal right to even quibble this if the consumer wants to return it.
C) Cant comment on this but on all three occasions I've had to back cars it has been tied up relatively quickly, you are correct in that the loss being picked up from the manufacturer in most cases but if the dealer has to abide by the UK consumer law, and the dealer has acted compliant with this then I don't see how the manufacturer has an argument to not settle with the dealer.
With regards to your comments regarding dealers taking back cars within 30 days, I personally think they prey on the consumers ignorance and not knowing their rights. If you lump up £100k plus on a car and it rattles, technically it's not fit for purpose as something of this value should be built correctly. Don't get me wrong the McLaren's had a MULTITUDE of problems, the 720 even broke down 20 minutes after collection so they were bang to rights on both these cases so couldn't argue it, the Bentley on the other hand had a rattle and the stereo kept cutting out, easy enough to argue that it's not fit for purpose on a £160k car that's only three months old.
100% of all funds back on all three cars.
Don't get me wrong I'm not a serial backer, in the last two years alone I've been fortunate enough to own 14 or so super cars, a Lamborghini I picked up last year had a cracked fuel tank after a day and a problem with the fuel system a week later, Lamborghini responded by putting another years warranty on the car (5k value) and a £5k discount off another car I had on order, all of this was offered without asking - now that's how you deal with it.
Consumer law in print and its application in reality work very differently. Nearly every car throws a light in the first month,once you have agreed the dealer can fix it you alter your legal position.
If dealers want the money back from manufacturers for losses on faulty buy backs it’s far from a walk in the park,trust me!
With your skills you could set up a people’s champion return to dealer consultancy !
IMI A said:
Juno said:
Nearly every car throws a light in the first month.
You're talking about Mcl cars? Other manufacturers even Land Rover (the worst reliability car hands down for dodgy warning lights but I still love them) and I've had 3 of them over the last 15 yrs do not throw warning lights when new. 5 years after delivery you get a free Xmas tree on your dash from almost any Land Rover.
and funny man 
Geoffrey 321 said:
isaldiri said:
Geoffrey 321 said:
You should buy a 720 now that a 3RS isn't winging it's way to you
That jibe at juno wasn't really necessary was it ? Very classy that.... after the post because I know Juno's expressed an interest in a McL
Anyway as I said I wont bee needing a 720s for now thank you but who knows in the future! For now I have something else up my sleeve 
Geoffery have you made inquiries to see if Richard Branson is free yet?
Edited by Juno on Friday 22 March 09:26
Geoffrey 321 said:
Juno said:
Geoffery have you made inquiries to see if Richard Branson is free yet?
Richard B I met him in 1973 at a meeting and a nice chap who was a lot poorer than he is now! my fellow passenger The Donald can't make it!!!BTW I do like Mac's myself and nearly purchased a 12c in 2012
todea20 said:
Now this is what i would call a perfect customer service!
Need to get myself on youtube...seems to be working
https://www.youtube.com/watch?v=4myp_wvIsMk
So he only had his car working as it should for 27 days in 7 or 8 months and excepted a partial refund,it goes to show how hard it is to reject a car even with consumer law on your side!!!Need to get myself on youtube...seems to be working
https://www.youtube.com/watch?v=4myp_wvIsMk
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