Looking for my first supercar

[RSbandit]

Is that car still under Mcl warranty? Ideally if it is they can transfer over to you from prev owner, if not you would need to have the car inspected by a Mcl dealer first and have any issue sorted before they would put another warranty on it...I managed to get the remaining three month warranty transferred to me when I bought mine in Dec. I wouldn't consider an M8 versus a 570s completely different cars and the BMW weighs a couple of tonnes...the 570 is a really great car so presuming you find a good one you won't regret it.

[chrisbell08]

Warranty expired in Jan, Wasn't aware Mac would want to check before the warranty but that makes sense,

Going to take a trip to Leeds Mac after the lockdown

My main concern right now is figuring out how to find a "good one" lol.

[Matty3]

You can't go wrong with MacLeeds - I went in to buy a pre owned 570 and bought a new one - they really are great to deal with.

Totally pleased with the 570 so far - it is epic

[chrisbell08]

Ahh that's cool,

Did you get a good deal on the new one? My budget is around £10k down and I want to keep the payments under £1k /m so I think a new one will be out of my price range

[Matty3]

chrisbell08 said:

Ahh that's cool,

Did you get a good deal on the new one? My budget is around £10k down and I want to keep the payments under £1k /m so I think a new one will be out of my price range

I reckon I got a good deal but paid cash - which in hindsight may have not been the best way.

They have offered some really great finance deals in the last 6 months I understand - have a chat with them they are brilliant to deal with.

FWIW I would not consider buying a Mac from a non franchise dealer, except Alistair Bols.

Good luck with your search.

[12pack]

chrisbell08 said:

Somebody commented about other cars / brands, I do have a list:

Aston Martin DB11
BMW M8
Porsche 911
Mclaren 540c / s / gt
Ferrari California

Pardon my late intrusion, but seems to me there’s only one “supercar” on that list. And from your subsequent posts, you certainly seem to be on the right track towards it! Another thumbs up for Mac Leeds. Also for aftercare and servicing.

[MKA29]

chrisbell08 said:

Ahh that's cool,

Did you get a good deal on the new one? My budget is around £10k down and I want to keep the payments under £1k /m so I think a new one will be out of my price range

What's this PCP?

[Lee Jones Jnr]

MKA29 said:

What's this PCP?

Blimey, £10k deposit and £1k per month gets a £90k car?

[AstonExige]

Just before this mess you could put circa £40k on finance for £200 a month, effectively interest only with a balloon payment (no GFV / option to return the car)

So you could put £10k down on a £90k car, finance the remaining £80k for circa £400 per month.

[footsoldier]

Please don't expose yourself to a balloon payment, with no GFV...

[Lee Jones Jnr]

AstonExige said:

Just before this mess you could put circa £40k on finance for £200 a month, effectively interest only with a balloon payment (no GFV / option to return the car)

So you could put £10k down on a £90k car, finance the remaining £80k for circa £400 per month.

But in that case you’ll either get yourself in trouble because you can’t afford to buy the car and therefor you shouldn’t, or you are wasting money with the payments and might as well buy it in the first place.

[MDL111]

AstonExige said:

Just before this mess you could put circa £40k on finance for £200 a month, effectively interest only with a balloon payment (no GFV / option to return the car)

So you could put £10k down on a £90k car, finance the remaining £80k for circa £400 per month.

Sounds like sth you should only do if you are confident you make enough money to pay the balance (or at least a large part of it)if the worst happens. 89% LTV on a depreciating asset is ballsy otherwise imo.

[AstonExige]

Just to clarify this isn't what I'm doing, I was just using the figures above in response to someone asking if you could fund a £90k car for less than £1k per month

[Ferruccio]

footsoldier said:

Please don't expose yourself to a balloon payment, with no GFV...

What would be the contractual position on a GFV if the finance company goes bust, i.e what would the liquidator’s position vs the customer be?
It is quite possible that this situation arises over the coming months?

[Lee Jones Jnr]

AstonExige said:

Just to clarify this isn't what I'm doing, I was just using the figures above in response to someone asking if you could fund a £90k car for less than £1k per month

I realise that your answer was to the question and not your own situation.
Your answer reads to me as ‘no you can’t’ though.

[footsoldier]

Ferruccio said:

What would be the contractual position on a GFV if the finance company goes bust, i.e what would the liquidator’s position vs the customer be?
It is quite possible that this situation arises over the coming months?

Liquidator would be owed the money and would chase it depending on cost v recoverability, probably open to negotiation and generally susceptible to laziness in recovering maximum for creditors.
Loans could also be picked in bulk up by funds who would be less forgiving and would chase everything down.

Remember in a doomsday scenario,you can hand car back after making 50% of payments due to that date (assuming a regulated agreement). If you have a big balloon,(rather than an optional/gfv), you are in trouble as you will only reach 50% when you make the balloon payment, so in effect you're on the hook for the whole lot.
Like many things, people don't pay enough attention when everything is good....

[chrisbell08]

Yeah, Magnitude Quoted me £1100/m with £9k down 36 months LP with £51k balloon.

I have enough in my company to buy it cash but would rather leave the cash in the company TBH. I can't imagine a 570s being worth £50k tbh but even if it's only worth £40k I'll just pay £10k when the agreement ends.

I just see it as the cost of owning that kind of car. I worked my ass off to build my company and I want to spend my money on things that make me smile seeing numbers on a bank statement does nothing for me,

If I wanted to be sensible with my money I'd be in an investment or house buying forum lol.

I'd rather avoid a debate on what's right and the wrong to do with your money tho, each to their own on that one.

I'm just looking for advice on sourcing the correct car that's all, let's avoid the negativity I see in some of the other forums.

I'm now patiently by for McLaren Leeds to re-open

[Lee Jones Jnr]

chrisbell08 said:

Yeah, Magnitude Quoted me £1100/m with £9k down 36 months LP with £51k balloon.

I have enough in my company to buy it cash but would rather leave the cash in the company TBH. I can't imagine a 570s being worth £50k tbh but even if it's only worth £40k I'll just pay £10k when the agreement ends.

I just see it as the cost of owning that kind of car. I worked my ass off to build my company and I want to spend my money on things that make me smile seeing numbers on a bank statement does nothing for me,

If I wanted to be sensible with my money I'd be in an investment or house buying forum lol.

I'd rather avoid a debate on what's right and the wrong to do with your money tho, each to their own on that one.

I'm just looking for advice on sourcing the correct car that's all, let's avoid the negativity I see in some of the other forums.

I'm now patiently by for McLaren Leeds to re-open

Theres a great Volcano Orange 570s that I looked at at McLaren Manchester that has dropped to £99k and I am sure they will get you into it within budget. Unfortunately hasn't got the carbon interior but otherwise very nice.

[chrisbell08]

Is it this one?
https://manchester.mclaren.com/en/pre-owned/2018-m...

I've just noticed the Virtual Displays on this model is all one screen whilst the other 570s are 3 screens, did they update that on the 2018 models?

[Lee Jones Jnr]

chrisbell08 said:

Is it this one?
https://manchester.mclaren.com/en/pre-owned/2018-m...

I've just noticed the Virtual Displays on this model is all one screen whilst the other 570s are 3 screens, did they update that on the 2018 models?

Yeah thats the one. I believe the single screen came in at some point during 2017.