Mclaren depreciation

Mclaren depreciation

Author
Discussion

Vergis

467 posts

187 months

Wednesday 11th September
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Nano2nd said:
well theres now a 12C on the facebook supercars for sale group, at £65k which must be a new record low surely?
As we enter Autumn and Winter I suspect these prices will soften further perhaps to £55k with high miles and poor spec before the envitable Spring Summer rise. All bets are off if we enter a recession next year.

breadvan

1,405 posts

113 months

Wednesday 11th September
quotequote all
It’s got me thinking......

Say £60k buy in.

£7k a year for warranty/pre and post inspection and consumables.

What a track weapon!


CTE

1,286 posts

185 months

Thursday 12th September
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It`s a weapon full stop and ridiculously good value when compared to its apparent rivals...

I think until our inept politicians sort themselves out (which I don`t see happening) then our economy will continue to stagnate (although the wider world is in a precarious situation so there are many other influences at work) then these and all premium cars will become harder and harder to sell, so where will the price eventually settle...£30k??

As a 12c owner, I`m not trying to talk the value down but trying to be realistic...its happened before with some apparently desirable Ferrari`s falling to this sort of value...and it will happen again.

GRD 8

33 posts

11 months

Wednesday
quotequote all
Bought a 2016 650 spider 11 months ago from McBristol, Car was advertised at £149,995 one of the most expensive but after looking at many 650 spiders over a period of 8 months this was the one i decided on as it had a great options spec, 6k miles, in exceptional condition. The car was approved and qualified by Mclaren. My thinking on buying a high spec car in a great colour elite paint was it would be easier to sell when the time came.
Over the last 11 months of ownership i have used it very little only putting around 2k miles on it. Its been to McBristol for service, four new tyres and steering geometry set up, extended Mclaren warranty.
Let me say at this point Mclaren Bristol have been absolutely fantastic every time i have used them or been to visit their showroom and would highly recommend them to anyone. I will continue to use them, they are not responsible for the depreciation with these cars.
Back on topic, decided that as i was not getting time to use the car it was decision time as to whether to keep the car or cut my losses and p/ex it back to Mcbristol for a vehicle i could get more use out of. At this point i thought that as the car was as it was when i bought it, i would recoup a reasonable amount back for it in p/ex. Contacted the dealer who confirmed they would be happy to have the car back as they did not have a 650 spider and new/ liked the spec of the car. So far so good until the max p/ex allowance was given to me.
£95,000. OUCH!!!
This car was in this dealership 11 months ago for £149,995 is now only worth £95,000 to them now.
As i say this is no fault of McBristol but it is a heads up to those who are wondering what their Mclaren is worth at the moment. I never bought my car to make money and was fully expecting to lose money on it, only not so fast. What this exercise has given me is the knowledge that even the lower mileage high spec examples will lose lots of money very quickly even second hand 2 1/2 year old cars.

Now for the silver lining. As my car has shed so much of its value, i will be keeping it for the foreseeable future as further depreciation does not bother me.
These are fantastic cars, a pleasure to drive and i now look forward to getting much more use out of it, putting some miles on it, enjoying it without the worry of keeping the miles low to keep some residual value. Happy Driving.

Ps when discussing values with reference to lowest they are likely to fall, i was told that they did not think 12c would drop below 90k but are now bidding less than 50k on good examples. Who knows where they will end up.

BlackR8

221 posts

22 months

Wednesday
quotequote all
GRD 8 said:
Bought a 2016 650 spider 11 months ago from McBristol, Car was advertised at £149,995 one of the most expensive but after looking at many 650 spiders over a period of 8 months this was the one i decided on as it had a great options spec, 6k miles, in exceptional condition. The car was approved and qualified by Mclaren. My thinking on buying a high spec car in a great colour elite paint was it would be easier to sell when the time came.
Over the last 11 months of ownership i have used it very little only putting around 2k miles on it. Its been to McBristol for service, four new tyres and steering geometry set up, extended Mclaren warranty.
Let me say at this point Mclaren Bristol have been absolutely fantastic every time i have used them or been to visit their showroom and would highly recommend them to anyone. I will continue to use them, they are not responsible for the depreciation with these cars.
Back on topic, decided that as i was not getting time to use the car it was decision time as to whether to keep the car or cut my losses and p/ex it back to Mcbristol for a vehicle i could get more use out of. At this point i thought that as the car was as it was when i bought it, i would recoup a reasonable amount back for it in p/ex. Contacted the dealer who confirmed they would be happy to have the car back as they did not have a 650 spider and new/ liked the spec of the car. So far so good until the max p/ex allowance was given to me.
£95,000. OUCH!!!
This car was in this dealership 11 months ago for £149,995 is now only worth £95,000 to them now.
As i say this is no fault of McBristol but it is a heads up to those who are wondering what their Mclaren is worth at the moment. I never bought my car to make money and was fully expecting to lose money on it, only not so fast. What this exercise has given me is the knowledge that even the lower mileage high spec examples will lose lots of money very quickly even second hand 2 1/2 year old cars.

Now for the silver lining. As my car has shed so much of its value, i will be keeping it for the foreseeable future as further depreciation does not bother me.
These are fantastic cars, a pleasure to drive and i now look forward to getting much more use out of it, putting some miles on it, enjoying it without the worry of keeping the miles low to keep some residual value. Happy Driving.

Ps when discussing values with reference to lowest they are likely to fall, i was told that they did not think 12c would drop below 90k but are now bidding less than 50k on good examples. Who knows where they will end up.
Wow that is eye watering depreciation! And thats not even on buying new. Good on you for keeping your chin up and just planning to get max enjoyment from the car going forwards though.

ferdi p

1,210 posts

117 months

Wednesday
quotequote all
GRD 8 said:
Bought a 2016 650 spider 11 months ago from McBristol, Car was advertised at £149,995 one of the most expensive but after looking at many 650 spiders over a period of 8 months this was the one i decided on as it had a great options spec, 6k miles, in exceptional condition. The car was approved and qualified by Mclaren. My thinking on buying a high spec car in a great colour elite paint was it would be easier to sell when the time came.
Over the last 11 months of ownership i have used it very little only putting around 2k miles on it. Its been to McBristol for service, four new tyres and steering geometry set up, extended Mclaren warranty.
Let me say at this point Mclaren Bristol have been absolutely fantastic every time i have used them or been to visit their showroom and would highly recommend them to anyone. I will continue to use them, they are not responsible for the depreciation with these cars.
Back on topic, decided that as i was not getting time to use the car it was decision time as to whether to keep the car or cut my losses and p/ex it back to Mcbristol for a vehicle i could get more use out of. At this point i thought that as the car was as it was when i bought it, i would recoup a reasonable amount back for it in p/ex. Contacted the dealer who confirmed they would be happy to have the car back as they did not have a 650 spider and new/ liked the spec of the car. So far so good until the max p/ex allowance was given to me.
£95,000. OUCH!!!
This car was in this dealership 11 months ago for £149,995 is now only worth £95,000 to them now.
As i say this is no fault of McBristol but it is a heads up to those who are wondering what their Mclaren is worth at the moment. I never bought my car to make money and was fully expecting to lose money on it, only not so fast. What this exercise has given me is the knowledge that even the lower mileage high spec examples will lose lots of money very quickly even second hand 2 1/2 year old cars.

Now for the silver lining. As my car has shed so much of its value, i will be keeping it for the foreseeable future as further depreciation does not bother me.
These are fantastic cars, a pleasure to drive and i now look forward to getting much more use out of it, putting some miles on it, enjoying it without the worry of keeping the miles low to keep some residual value. Happy Driving.

Ps when discussing values with reference to lowest they are likely to fall, i was told that they did not think 12c would drop below 90k but are now bidding less than 50k on good examples. Who knows where they will end up.
Buying retail & selling trade is always gonna hurt, especially in 11 months!

If you'd have bought a nice spec 2016 488gtb 11 months ago from a Ferrari dealer it would have cost 180k minimum, that same dealer would bid 140k max today!!

Sure, not as bad as you but not too much difference really...

GRD 8

33 posts

11 months

Wednesday
quotequote all
Yes i agree. Its the same with many manufacturers, just the current climate.
The up side is that once the value of the cars have fallen they gain interest from a wider audience and may then stabilise if demand increases in the lower price bracket. Great cars for the money, in fact great cars period.
It will be interesting to see once the early 12c models become older than ten years and no more extended warranty whether the indies will develop into the Mclaren repair market. I believe this will also help the early car prices to stabilise.

Ferruccio

890 posts

64 months

Wednesday
quotequote all
GRD 8 said:
The up side is that once the value of the cars have fallen they gain interest from a wider audience and may then stabilise if demand increases in the lower price bracket. Great cars for the money, in fact great cars period.
It will be interesting to see once the early 12c models become older than ten years and no more extended warranty whether the indies will develop into the Mclaren repair market. I believe this will also help the early car prices to stabilise.
The trouble will be the cost of maintaining older but very complicated cars - it will still be eye watering.

Looking back cars weren’t like that.
For example an early Diablo - no ABS, no traction control, no airbags, no power steering. There’s just a lot less to go wrong.

ferdi p

1,210 posts

117 months

Wednesday
quotequote all
Ferruccio said:
The trouble will be the cost of maintaining older but very complicated cars - it will still be eye watering.

Looking back cars weren’t like that.
For example an early Diablo - no ABS, no traction control, no airbags, no power steering. There’s just a lot less to go wrong.
Not sure it's that simple. These modern cars are built way better & in much bigger numbers. An old Pagoda is way harder & costlier to repair than say a 90's Merc sl, & they have 5hit loads of electronics & computers etc...

Caddyshack

1,364 posts

151 months

Wednesday
quotequote all
Trading in with a dealer normally makes your eyes water. I bought an approved used 330d bmw with masses of hidden extras that the dealer had not realised. Power pack, big brakes etc. £27k. Within 6 months I went to trade it against a Range Rover, the dealer offered me 16k for it. I told them where to poke it and got £21k from a bmw specialist (so would have got more retail potentially).

On collection of the Rangie the dealer admitted that the sales manager wanted the BMW for his wife....they need to build profits in to the trade in plus cover their warranty and prep costs.

GRD 8

33 posts

11 months

Wednesday
quotequote all
Ferruccio said:
The trouble will be the cost of maintaining older but very complicated cars - it will still be eye watering.

Looking back cars weren’t like that.
For example an early Diablo - no ABS, no traction control, no airbags, no power steering. There’s just a lot less to go wrong.
These cars are very complicated but as time goes on the technology will be better understood. It will take some major investment by indies if they are going to be competent in these cars, but its been done with other brands like Ferrari. Its all according to demand i suppose and when the testing technology will be released by mclaren.

DB77

146 posts

92 months

Wednesday
quotequote all
A combination of bid/offer spread (dealer margin) and the overall market heading south means ownership of these types of car over the last 12 months is going to be excessively expensive. The key to it all (and what I believe as a recent purchaser) is use your car A LOT - it is going to be expensive so the way to reduce the cost per (s)mile is to maximise the miles! Having watched loved ones depart early, it is easy to see value in spending cash on good times!

MAC 720S

532 posts

92 months

Wednesday
quotequote all
DB77 said:
A combination of bid/offer spread (dealer margin) and the overall market heading south means ownership of these types of car over the last 12 months is going to be excessively expensive. The key to it all (and what I believe as a recent purchaser) is use your car A LOT - it is going to be expensive so the way to reduce the cost per (s)mile is to maximise the miles! Having watched loved ones depart early, it is easy to see value in spending cash on good times!
Yep, that’s my view. Covered 9K miles in the 720 since April 2019.

GRD 8

33 posts

11 months

Thursday
quotequote all
[quote=DB77]A combination of bid/offer spread (dealer margin) and the overall market heading south means ownership of these types of car over the last 12 months is going to be excessively expensive. The key to it all (and what I believe as a recent purchaser) is use your car A LOT - it is going to be expensive so the way to reduce the cost per (s)mile is to maximise the miles! Having watched loved ones depart early, it is easy to see value in spending cash on good times![/quote.


Fully agree, looking forward to using this great car and enjoying it lot more.

Nano2nd

3,157 posts

201 months

Thursday
quotequote all
DB77 said:
A combination of bid/offer spread (dealer margin) and the overall market heading south means ownership of these types of car over the last 12 months is going to be excessively expensive. The key to it all (and what I believe as a recent purchaser) is use your car A LOT - it is going to be expensive so the way to reduce the cost per (s)mile is to maximise the miles! Having watched loved ones depart early, it is easy to see value in spending cash on good times!
agreed, its not just Mclaren's though, the 12 month retail to trade on my R8 was about 25% (all be it with 400 miles usage!) with a similar time alignment, IMO unless some magic comes out of Brexit that's going to get more... great it your buying biggrin My X3 is worth considerably less that its GFV now even with 12 months to go... I know PCP isn't popular on PH but i'm bloody glad i didn't buy it cash!