Mclaren residuals

[Crazy4557]

nw942 said:

It is hard to look past the new car when it costs a similar amount to re-financing your existing car at the end of the original term.

The cost over two years is becoming the only thing that really matters as it effectively puts a cap on expenses/depreciation/loss.

They seemed to sell the 600 LT Spiders quite quickly when they offered to rent them out at circa £46000 for 24 months.

And those buyers will probably be happy to buy another one as they knew total costs from the start, and that the high GFV means that they will hand the car back.

So they have gained sales and cash flow at the expense of a rival. In these times of low-cost credit we could see some great offers if each supercar manufacturer joins this race. Imagine a new 720 or 488 for £25000 per annum, or a 570 for £15000 per annum.

I'm renting an 600LT Spider for 2 years, I'll easily do the 14k miles I 'bought' and I went this route rather than buying as I'm shortly retiring and I almost certainly won't be buying another McLaren so I have a guaranteed exit path in 2 years which suits me perfectly timing wise.
I had a choice of buying but the horror stories of trying to get rid unless you gave it away means that my costs will near enough the same as if I bought.

[isaldiri]

Bispal said:

McLaren F1 - There is always something better than even a 458 (ps both the 12C & 675 are far better drivers cars than the Italian offerings)

And a £190k 12C would be £85k now

To 'at least' equal Ferrari.

Hopefully most people got the point I was making...

Hopefully people also see just how stupid it is to compare a F1 to a 458 as you did above.

[Matty3]

My take

Bought my new 570 Spider 12 months ago - cash with a reasonable discount.

2 of my close friends bought Lambo Hurracan Per & Fezza Lusso respectively at approx same time - we have all lost a shed of money, but we are all agreed what a way to shed cash - wish it wasn't so but not losing sleep over it.

[Alfapapatango]

This.
Jesus H . Can we talk about the Fukien cars rather than this pathetic pussy stuff.
Firkin peasants talking hillocks about stuff they will never sit in never mind own/drive.

[SRT Hellcat]

I am thinking along the lines that if I bought a 2 year old 720S for say £150,000. In four years time it would probably still be a £90,000 car. Anyone disagree with that thought process

[IMI A]

SRT Hellcat said:

I am thinking along the lines that if I bought a 2 year old 720S for say £150,000. In four years time it would probably still be a £90,000 car. Anyone disagree with that thought process

You've got to be quite an enthusiast to drop £90k in a 720s when its say 5-6 year old and the real maintenance issues begin. MC12 a cheap car for £65k-75k for a reason. The issue is still no-one wants them even at these low levels because they're not a bargain. If Mcl do not open up technical briefing, training and equipment to non franchised dealers the cars may become even cheaper second hand as punters will not drop £65k (or whatever the astronomical replacement figure is) into 12c or £90k into Mc 720s if worst case scenario a new engine or gearbox is needed and costs £65k and there is no one credible around yet in UK that knows how to rebuild them. If you buy I know its annoying but maybe buy on finance over a two year period I hear some great deals around. If you gel with the car you can always buy at the end of the agreement but at least this way you're not potentially a victim to the shallow depth of liquidity these cars have in the used market. Awesome cars.

[davek_964]

IMI A said:

SRT Hellcat said:

I am thinking along the lines that if I bought a 2 year old 720S for say £150,000. In four years time it would probably still be a £90,000 car. Anyone disagree with that thought process

You've got to be quite an enthusiast to drop £90k in a 720s when its say 5-6 year old and the real maintenance issues begin. MC12 a cheap car for £65k-75k for a reason. The issue is still no-one wants them even at these low levels because they're not a bargain. If Mcl do not open up technical briefing, training and equipment to non franchised dealers the cars may become even cheaper second hand as punters will not drop £65k (or whatever the astronomical replacement figure is) into 12c or £90k into Mc 720s if worst case scenario a new engine or gearbox is needed and costs £65k and there is no one credible around yet in UK that knows how to rebuild them. If you buy I know its annoying but maybe buy on finance over a two year period I hear some great deals around. If you gel with the car you can always buy at the end of the agreement but at least this way you're not potentially a victim to the shallow depth of liquidity these cars have in the used market. Awesome cars.

Except that - as long as you're willing to swallow the warranty cost - you don't really need to worry about the engine or gearbox going pop.

[IMI A]

davek_964 said:

IMI A said:

SRT Hellcat said:

I am thinking along the lines that if I bought a 2 year old 720S for say £150,000. In four years time it would probably still be a £90,000 car. Anyone disagree with that thought process

You've got to be quite an enthusiast to drop £90k in a 720s when its say 5-6 year old and the real maintenance issues begin. MC12 a cheap car for £65k-75k for a reason. The issue is still no-one wants them even at these low levels because they're not a bargain. If Mcl do not open up technical briefing, training and equipment to non franchised dealers the cars may become even cheaper second hand as punters will not drop £65k (or whatever the astronomical replacement figure is) into 12c or £90k into Mc 720s if worst case scenario a new engine or gearbox is needed and costs £65k and there is no one credible around yet in UK that knows how to rebuild them. If you buy I know its annoying but maybe buy on finance over a two year period I hear some great deals around. If you gel with the car you can always buy at the end of the agreement but at least this way you're not potentially a victim to the shallow depth of liquidity these cars have in the used market. Awesome cars.

Except that - as long as you're willing to swallow the warranty cost - you don't really need to worry about the engine or gearbox going pop.

Can you still warranty a 2010 12c? These are circa £65k now.

[davek_964]

IMI A said:

Can you still warranty a 2010 12c? These are circa £65k now.

I guess it's getting close, since I think the limit is 10 years - whether McLaren will extend it now the cars are getting that old, I don't know.

[WCZ]

Alfapapatango said:

This.
Jesus H . Can we talk about the Fukien cars rather than this pathetic pussy stuff.
Firkin peasants talking hillocks about stuff they will never sit in never mind own/drive.

hmm? plenty of owners in this thread...

[davek_964]

WCZ said:

Alfapapatango said:

This.
Jesus H . Can we talk about the Fukien cars rather than this pathetic pussy stuff.
Firkin peasants talking hillocks about stuff they will never sit in never mind own/drive.

hmm? plenty of owners in this thread...

I did think that but was too lazy to answer at the time!

[scotty1]

SRT Hellcat said:

I am thinking along the lines that if I bought a 2 year old 720S for say £150,000. In four years time it would probably still be a £90,000 car. Anyone disagree with that thought process

This is the basis I bought on. There are only 174 600lts coupe which make these a pretty rare car. I’m working on the basis that it’s got to still be worth 105 to 110k in 3 years if you compare it to current 570s prices.. and if not I’m still able to refinance and buy the car. The issue imo with the new pcps deals is that 150k in two years is still a big whack to finance with still loads to lose.. I get the the security of the pcp deals but if you did decide to get out early I suspect your in negative equity as soon as you drive away depending on your deposit. All personal preference and dependant on circumstance.

What I can say is that this car is far better than a GT3 so for me I’m well chuffed so far..

[Wolf01]

Just wanted add my thoughts on this topic. As a 570s owner who bought new at circa £170k I’m also gutted that after 3 years and 2500 miles the dealers are willing to offer only 80k tops for my car. I thought the market would bottom out at 95k but it still seems in free fall.
So I’ve decided that I will swap out of the car as I don’t think Mclaren will do anything to hold the value of the second hand market and get into a 458 which I hope will give me that pleasure and hold onto some value going forward.

[WilliamWaiver]

Wolf01 said:

Just wanted add my thoughts on this topic. As a 570s owner who bought new at circa £170k I’m also gutted that after 3 years and 2500 miles the dealers are willing to offer only 80k tops for my car. I thought the market would bottom out at 95k but it still seems in free fall.
So I’ve decided that I will swap out of the car as I don’t think Mclaren will do anything to hold the value of the second hand market and get into a 458 which I hope will give me that pleasure and hold onto some value going forward.

Do you not think you are getting out too late and at the wrong time.
The issue was the list price purchase price.
Can't see your car dropping massively from £80k but 10 year old 458s seem overpriced too me and due a big price correction.
Also the ferrari spread retail to trade is huge.
It was £30k recently on my low mileage 2 owner high spec 430 scuderia against a stock pista
I did tell them I wasn't dropping my trousers for anyone !

[EvoSid]

Ex Boy Racer said:

Just trying to get people's thoughts. I have been keen on a 720S spider for a while and probably like a lot of us the infamous depreciation increased my desire as there is no way I would spend near enough £300K on a car. However £200K on a 6 month old car with a couple of thousand miles (why don't people drive these cars???) seemed a sweet deal.
The time has come where this is now a reality with nice spiders getting down to he right sort of money so i got in touch with dealers. I normally buy my cars but the dealers are pushing me into a brand new car because the PCP deals make them cheaper than used ones on a per month basis. So, a brand new car with list price of around £300K costs less for 2 years than a 6 month old one that sells for £200K!!!
I'll be the first to admit I don't really get the whole PCP thing (too old I guess) but that situation seems like madness. Surely all it can do is make slightly second hand cars virtually worthless?
From what I can see, the best route forward is to get a brand new one, drive it for 2 years, then if I want to keep a 720 im my life buy a 2 year old one at virtually no money!!!

I like yourself don't really understand PCP deals.
So I for on a very simple formula
what is going to cost me less one the period.
Id PCP/Leasing works out cheaper than the depreciation then do that. If buying is cheaper the do that.
Only expcetion is if you plan to keep the car long term in which case maybe worth buying as deprecation flattens out over time

[EvoSid]

davek_964 said:

I'm a bit split on the issue of McLaren depreciation.

It's true that their primary focus does seem to be shifting new cars, and they definitely don't help residuals. I bought my 650 knowing it would plummet, and basically accepted I was buying a car which would be difficult to sell and that I should assume would be worthless. Anything above that would be a bonus.

But......... the reality is, I'm driving a proper supercar which frankly should be out of my price range. If McLaren commanded strong residuals, I wouldn't own mine. In fact - I remember the first McLaren I ever saw on the road - an orange 12C that was parked up near some local shops. I thought it was absolutely stunning - and it never occurred to me for a second that one day I'd own one (or actually, it's replacement).

In the 6 months I've owned my car, I've no doubt already lost shed loads - and have shed loads more to lose. But you only live once, I could be hit by a bus tomorrow - and I'm bloody lucky that I own a car that I frankly shouldn't be able to afford.

Very well put
That is exactly my thoughts,
I was looking at a 570s Say 2017. If I kept it for say 4 years I think it may go down to £50k so a loss of £7-10K a year is not the end of the world for me
Happy to loss that to own such a gorgeous car

[EvoSid]

Matty3 said:

My take

Bought my new 570 Spider 12 months ago - cash with a reasonable discount.

2 of my close friends bought Lambo Hurracan Per & Fezza Lusso respectively at approx same time - we have all lost a shed of money, but we are all agreed what a way to shed cash - wish it wasn't so but not losing sleep over it.

If you don't mind me asking who has lost the most after 12 months as I get the feeling Lambos are not depreciating much after a certain point

[EvoSid]

Silly question but if Mclaren will not hand out the paint code is their a reason for this as I just assumed it would be printed on the car like any other car

[RSbandit]

Wolf01 said:

Just wanted add my thoughts on this topic. As a 570s owner who bought new at circa £170k I’m also gutted that after 3 years and 2500 miles the dealers are willing to offer only 80k tops for my car. I thought the market would bottom out at 95k but it still seems in free fall.
So I’ve decided that I will swap out of the car as I don’t think Mclaren will do anything to hold the value of the second hand market and get into a 458 which I hope will give me that pleasure and hold onto some value going forward.

2500 miles in 3 years, sorry to be harsh but what was the point? I've had mine 6 months and am up to 4k...I'd agree that bailing now after you've taken the big hit and crossing the dealer spread to get a Ferrari 458 wouldn't be the move I'd make tbh. Look at it this way the next 3 yrs deprec on the 570S will be a hell of alot less and for God's sake drive the thing! If you really need to scratch the Ferrari itch tho crack on!

[650spider]

WilliamWaiver said:

Wolf01 said:

Just wanted add my thoughts on this topic. As a 570s owner who bought new at circa £170k I’m also gutted that after 3 years and 2500 miles the dealers are willing to offer only 80k tops for my car. I thought the market would bottom out at 95k but it still seems in free fall.
So I’ve decided that I will swap out of the car as I don’t think Mclaren will do anything to hold the value of the second hand market and get into a 458 which I hope will give me that pleasure and hold onto some value going forward.

Do you not think you are getting out too late and at the wrong time.
The issue was the list price purchase price.
Can't see your car dropping massively from £80k but 10 year old 458s seem overpriced too me and due a big price correction.
Also the ferrari spread retail to trade is huge.
It was £30k recently on my low mileage 2 owner high spec 430 scuderia against a stock pista
I did tell them I wasn't dropping my trousers for anyone !

I was about to post almost the exact same sentiment.