Discussion
RSbandit said:
Wow that was aggressively priced makes all the 2017 cars with higher miles look expensive even at 150-160k
If you believe the chatter , there are quite a few more 720S’s which will be released virtually new at similar prices in the next 2 months, along with plenty of lease vehicles hitting the market.May be wise to wait a few weeks to see !!
Rocketreid said:
RSbandit said:
Wow that was aggressively priced makes all the 2017 cars with higher miles look expensive even at 150-160k
If you believe the chatter , there are quite a few more 720S’s which will be released virtually new at similar prices in the next 2 months, along with plenty of lease vehicles hitting the market.May be wise to wait a few weeks to see !!
12pack said:
Where the 675LT really improved on the 650s is the a much tighter front end. My 650s wanders under braking with the aero deployed, unless I really trail brake aggressively with the air blade coming down, but once I’ve got that figured.....wow. How’s the 600LT in comparison? I’m not on Trofeos, btw (std on the 600lt?)
This chart from 600LT sales manual basically explains key difference vs 675LT. 600LT wins in chassis engagement and lap time. I would also add that turbo lag has improved significantly in 600LT vs 675LT. it took me a while to get used to 600LT behaviour around corners thanks to the precise steering and sharp chassis. The steering is accurate at any speed with or without braking. if driving on tracks is the main purpose, then 600LT is no brainer. The biggest problem of 600LT imho is the engine. it feels very pushy in low rpm (not a bad thing) but it feels exhausted above 6000 rpm. On tracks with no/few sharp corners, it will lose out to 675LT, for example Bedford Autodrome, Donington Park etc. The other problem is not necessarily 600LT's fault but it takes ages to warm up Trofeo. Once they are properly baked, then they work like glue. i am trying to order a set of 620R's full slicks for my 600LT. (Mclalren's internal sales manual quotes 8% performance improvement from Slick vs Trofeo R.)
430SD_LP640 said:
This chart from 600LT sales manual basically explains key difference vs 675LT. 600LT wins in chassis engagement and lap time. I would also add that turbo lag has improved significantly in 600LT vs 675LT. it took me a while to get used to 600LT behaviour around corners thanks to the precise steering and sharp chassis. The steering is accurate at any speed with or without braking. if driving on tracks is the main purpose, then 600LT is no brainer. The biggest problem of 600LT imho is the engine. it feels very pushy in low rpm (not a bad thing) but it feels exhausted above 6000 rpm. On tracks with no/few sharp corners, it will lose out to 675LT, for example Bedford Autodrome, Donington Park etc. The other problem is not necessarily 600LT's fault but it takes ages to warm up Trofeo. Once they are properly baked, then they work like glue. i am trying to order a set of 620R's full slicks for my 600LT. (Mclalren's internal sales manual quotes 8% performance improvement from Slick vs Trofeo R.)
I think that GFV is a misleading term for PCP as it is an optional final payment. I am amazed at the amount of people who are presumably intelligent and articulate enough to get into a position to finance hugely expensive cars yet have virtually no idea of how the finance agreement actually works.(Despite having signed on the dotted line)
When you take out a PCP you are paying the interest on the value of the car less the deposit and some capital repayments (roughly in line with depreciation)
at the end of the term the capital left on the loan is the final payment. Pay that and you own the car and you would have paid the initial value of the car and all the interest incurred over the time of the loan, simple.
When you take out a PCP you are paying the interest on the value of the car less the deposit and some capital repayments (roughly in line with depreciation)
at the end of the term the capital left on the loan is the final payment. Pay that and you own the car and you would have paid the initial value of the car and all the interest incurred over the time of the loan, simple.
Man of gas said:
I think that GFV is a misleading term for PCP as it is an optional final payment. I am amazed at the amount of people who are presumably intelligent and articulate enough to get into a position to finance hugely expensive cars yet have virtually no idea of how the finance agreement actually works.(Despite having signed on the dotted line)
When you take out a PCP you are paying the interest on the value of the car less the deposit and some capital repayments (roughly in line with depreciation)
at the end of the term the capital left on the loan is the final payment. Pay that and you own the car and you would have paid the initial value of the car and all the interest incurred over the time of the loan, simple.
I think everyone fully understands to be fair.When you take out a PCP you are paying the interest on the value of the car less the deposit and some capital repayments (roughly in line with depreciation)
at the end of the term the capital left on the loan is the final payment. Pay that and you own the car and you would have paid the initial value of the car and all the interest incurred over the time of the loan, simple.
What most people are getting at is that a GFV on a Mclaren seems overly optimistic.
Some were wondering if there was a way of buying it for the 'market value' at the end of the term & not the GFV figure. Simples!
But that proves my point, it’s not a GFV it’s an optional final payment. It can’t be optimistic as it is determined only by the value of the car, the APR and the amount paid back over the term of the agreement. You want it lower then increase the upfront payment or the monthlies.
I am a doctor but i’m beginning to think i should have gone into finance.
I am a doctor but i’m beginning to think i should have gone into finance.
Surely nobody will be keeping the cars at end of term as I assume the figures are based on the list price of the car. If you went into the showroom waving cash I’d doubt you’d have any problem getting a discount. If you have any intention of keeping the car surely a standard finance deal with a discount front end would work better.
Man of gas said:
But that proves my point, it’s not a GFV it’s an optional final payment. It can’t be optimistic as it is determined only by the value of the car, the APR and the amount paid back over the term of the agreement. You want it lower then increase the upfront payment or the monthlies.
I am a doctor but i’m beginning to think i should have gone into finance.
The figure is guaranteed so unlike a 'normal' PCP, one can just walk away. I am a doctor but i’m beginning to think i should have gone into finance.
Of course it can be optimistic, it's just guess work by the finance company!
I'm confused as to what's difficult to understand?
ferdi p said:
Man of gas said:
But that proves my point, it’s not a GFV it’s an optional final payment. It can’t be optimistic as it is determined only by the value of the car, the APR and the amount paid back over the term of the agreement. You want it lower then increase the upfront payment or the monthlies.
I am a doctor but i’m beginning to think i should not have gone into finance.
The figure is guaranteed so I am a doctor but i’m beginning to think i should not have gone into finance.
Of course it can be optimistic, it's just guess work by the finance company!
I'm confused as to what's difficult to understand?
Though absent a DeLoreon I have a fantastic crystal ball and it tells me that the residual value will be far lower than the GFV. How the finance house and/or McLaren deal with this is entirely up to them. It wouldn't surprise me to find McLaren underwriting the underwriter's (potential) loss - cars gone, cash now, and a (TBC) future liability vs. a (large?) number of unsold cars. Nobody knows what goes on behind the funding curtain.
ferdi p said:
The figure is guaranteed so unlike a 'normal' PCP, one can just walk away.
Of course it can be optimistic, it's just guess work by the finance company!
I'm confused as to what's difficult to understand?
A normal PCP has a guaranteed value where you can walk away at the end. What you are referring to is a HP with balloon where the final payment isn't optional, you have to pay it, re finance it or sell the car. 2 very different things.Of course it can be optimistic, it's just guess work by the finance company!
I'm confused as to what's difficult to understand?
Well Getting back on track !!!
The Winter Blues are still hitting the Supercar market and McLaren are no different with prices down
So with the launch of the 765LT will we see more 720s hitting the market? , currently over 50 advertised and no doubt more for sale which may not be listed on PistonHeads or Autotrader.
Also a lot of 600LT’s and with the recent PCP deals, used values have softened once again.
Who knows whether we have hit the bottom of the ludicrous depreciation curve but at current price points both seem a lot of car for the money but 720S looks favourite.
The Winter Blues are still hitting the Supercar market and McLaren are no different with prices down
So with the launch of the 765LT will we see more 720s hitting the market? , currently over 50 advertised and no doubt more for sale which may not be listed on PistonHeads or Autotrader.
Also a lot of 600LT’s and with the recent PCP deals, used values have softened once again.
Who knows whether we have hit the bottom of the ludicrous depreciation curve but at current price points both seem a lot of car for the money but 720S looks favourite.
wato222 said:
A normal PCP has a guaranteed value where you can walk away at the end. What you are referring to is a HP with balloon where the final payment isn't optional, you have to pay it, re finance it or sell the car. 2 very different things.
You're absolutely right...I was merely trying to get him to understand that the GFV is a 'best guess' from the finance company. It could be way out & with these amazing deals that McLaren have done I'm fairly sure they will be !!
ferdi p said:
wato222 said:
A normal PCP has a guaranteed value where you can walk away at the end. What you are referring to is a HP with balloon where the final payment isn't optional, you have to pay it, re finance it or sell the car. 2 very different things.
You're absolutely right...I was merely trying to get him to understand that the GFV is a 'best guess' from the finance company. It could be way out & with these amazing deals that McLaren have done I'm fairly sure they will be !!
I’m just in the process of buying a used 600lt. There is a lot of talk about the high volume of cars but I was under the impression there were only 180 hard top 600lts made.. production now stopped. The specs vary accordingly so doesn’t this make them a rare car and potentially good value at 150k ?
scotty1 said:
I’m just in the process of buying a used 600lt. There is a lot of talk about the high volume of cars but I was under the impression there were only 180 hard top 600lts made.. production now stopped. The specs vary accordingly so doesn’t this make them a rare car and potentially good value at 150k ?
According to "how many left" 179 600lt's were registered in 2019 so unless more are registered as 2020 then it could be right!Gassing Station | McLaren | Top of Page | What's New | My Stuff