Bought a 720s! My 1st "supercar" Wish me luck!!

[AstonExige]

McLaren Manchester kindly sent me a rear plate with my private reg on Friday. However, when I put it on the car I just didn’t like the gaps either end because it’s only 5 chars long. Got a little bored today so got busy with the dremel, inspired by the plate designs on here www.fourdotdesignerplates.co.uk

Jury is still out on whether I prefer it. A rectangle plate doesn’t really line up with the rear end,,,, I don’t know. I’ll leave this new one on for now and see how I feel when I just catch a glance of it...

[AstonExige]

My understanding is Shape or size of the plate, from a legal perspective is irrelevant, as long as the font is the correct size and the correct distance from the edge of the plate?

[AstonExige]

Is it normal to have this ache in my stomach that gets more and more intense the longer I go without driving the car?! I’ve never had a longing like this on any car I’ve owned before and I’ve been lucky enough to own some nice cars.

The feeling that just these cars give you?....... I’m not kidding it feels like I’m addicted to it. I just feel sorry for those true petrolheads that get put off by all the haters spouting crap about the brand then never get to experience this.

Any other owners get this? Or am I just being weird, or perhaps I’ve just got food poisoning?

[AstonExige]

Beautiful colour! Love that.

When I bought this car I made an agreement with myself that I would use it, I wouldn’t worry about the mileage and the effect on value. But when I do use it, it will be good miles, no “wasted” miles sitting at 70 on a motorway for 100’s of miles, always take the scenic / fun route. I had planned not to use it in winter, after all you can’t enjoy it on wet roads, but I’ve found it to be really enjoyable even when you’re not pushing it, just driving spirited on damp A and B roads still really gives you a buzz.

Anyway, the value is going to drop if it sits in the garage doing nothing, so I may as well make the most of it. And at this point I’m really hoping the car will be a forever car, can’t see where I’d go from here, and a forever car means you don’t need to be concerned about the mileage

[AstonExige]

A friend just bought a really nice, low mileage GT4, decided to meet him at Rutland Water for some exercise. The drive there and back was fun too

[AstonExige]

Ordered some new shoes today In the first month or so (September) the P-Zeros seem to hold up quite well. But now the temps have dropped and the roads are more often damp than dry, they're proving themselves to be pretty rubbish. The PS4s's get such good reviews and I remember fitting a pair to the rear of my F-Type and it making a really noticeable difference in traction.

So with Black Friday......full set.....fitted....... £715! Really happy with that. Only downside, its KwikFit I'd not normally use them, but just fitting tyres?...... what could go wrong?

[AstonExige]

Quick update. The excitement around this car isn't subsiding. I'm not one to overly gush over cars, I've had some nice ones and yes those first few weeks or so, maybe a month or so, you're buzzing, but I'm over 3 months in and I still get those butterflies when I think about. Couple of times now I've just been out for a drive on my own, 2-3 hours, just driving for no reason. Never done that before. That is down to the fact it is so fantastic, of course, but its because I enjoy it on so many levels. I enjoy the acceleration, the cornering, how well it brakes, but then even just in traffic, seeing everyone turn to stare, take pictures, that feeling of being a rockstar, then even getting in and out, the doors and that theatre. And all this without feeling like you are shouting look at me, like you would with a Ferrari or Lambo, I think that is unique across the supercar brands, that class Mclarens. My opinion anyway. So still totally smitten, every journey, no matter what it is, feels like an event.

Anyway, fell like I should treat it so treated it to a new set of new boots. Picked up a Black Friday bargain on a complete set of Michelin Pilot Sport 4s. £730 including fitting Then managed to sell the PZero's, with 5.5 - 6.5mm of tread for £200. Haven't had a chance to properly test them yet but from previous experience of moving from PZero's to PS4s (on my FType) it will be a very well worthwhile upgrade for just over £500

And what is a post without a couple of pictures of it, especially as it is so photogenic!!

[AstonExige720]

I actually started off looking for a 650s, but when you factored in the £400 per month you'd have to spend on one for a warranty, I used some man maths to use that £400 per month to go on finance and stretch my budget to a 720s from a McDealer with 2yrs warranty included. Don't want to go into the finance details but bottom line I ended up with a £145k 720s costing just a very small amount more than the £100k 650s would have cost me. And the 720s come with the added support / peace of mind of coming from a McDealer.

[AstonExige720]

Kent Border Kenny said:

I think that the 650 spider will cost well under £10,000 per year to own compared to £20k for the 720 coupe, and £40k for the 720 Spider, so I’m happy to have gone with the 650.

How did you calculate those figures? Assume that is mainly depreciation? If so the 720 coupe figures are going to vary greatly dependant on the age of the 720 you bought. I don’t see 2/3 year old 720’s dropping much at all right now. Sure, a nearly new one is likely to drop quite a bit.

[AstonExige720]

Kent Border Kenny said:

AstonExige720 said:

How did you calculate those figures? Assume that is mainly depreciation? If so the 720 coupe figures are going to vary greatly dependant on the age of the 720 you bought. I don’t see 2/3 year old 720’s dropping much at all right now. Sure, a nearly new one is likely to drop quite a bit.

I think that at five years old they’ll be in the mid 90s, a little more than a five year-old 650s is, and a moderate amount more than a five year-old MP4.

I can’t see any reason that they’ll bottom out at much more, it’s not as though McLaren are starting to limit production.

So you’re saying that a 720s at around £140k now will be around £95k in less than 18months? (720s will be 5yrs old in May 22)

I can’t see that to be honest.

[AstonExige720]

Kent Border Kenny said:

AstonExige720 said:

So you’re saying that a 720s at around £140k now will be around £95k in less than 18months? (720s will be 5yrs old in May 22)

I can’t see that to be honest.

If you look at my first post I said £20k per year on the coupe and £40k on the spider. How much do you thing a £140k coupe will be worth in two years? Are you confident you’ll be able to sell it for over £100k? That seems very optimistic to me.

You said you expect the 720s to be in selling in the mid 90’s when they’re 5yrs old. So May next year you’re suggesting the 720s will drop from circa £140k to £95k. I would be very surprised if that is the case, just can’t see a drop like that. Depreciation curves flatten, but you’re suggesting they will fall sharply again after the curve has started to level. Outside of some extenuating circumstances, not going to happen.

[AstonExige720]

Kent Border Kenny said:

AstonExige720 said:

You said you expect the 720s to be in selling in the mid 90’s when they’re 5yrs old. So May next year you’re suggesting the 720s will drop from circa £140k to £95k. I would be very surprised if that is the case, just can’t see a drop like that. Depreciation curves flatten, but you’re suggesting they will fall sharply again after the curve has started to level. Outside of some extenuating circumstances, not going to happen.

They aren’t at £140k today, there are offers below that so deals will be getting done at low 30s.

I think that you are indulging in some motivated reasoning here, based on your ownership. Go back to my original point, I said that I think that you are currently dropping £20,000 per year; if you disagree what do you think that the rate is?

I do not believe I’m “indulging in motivated reasoning”. Having had a very keen interest in cars over the last 30yrs, watched values through recessions etc I know too well that in the main you can’t confidently predict specialist car residuals. Otherwise we’d all be retired. But you can look at probability.

Going from your first post you said we will see 720’‘S at mid 90’s by the time they’re 5rs old. So less than 18months? And yes, some low spec, high mileage cars are in the 130’s, but the average 720s, the early, average to good spec ones are £140-150k. So what is that average price likely to be in 18months? Certainly not £95k. Again maybe a poverty spec high mileage car will be close to £100k, but even that I can’t see them at £95k. Maybe a written off one?

(Remember, we are focusing on one figure here, asking price, so we’re comparing apples with apples. Otherwise we could suggest 650’s will be in the 60-70’s as that is what they are likely to be changing hands at in the trade.)

But the whole point of your original post was looking at values compared to the 650s and likely depreciation. I agree, the 650s is definitely the right choice if deprecation is your priority. It’s the older car further along the deprecation curve, but as the 720 comes of age the trajectory is also starting to level out. McLaren’s plummet in value for the first 2yrs, more than most, but then from what I can see they level out quite sharply, making all McLaren’s great value for money (if you ignore the internet haters)

If you look at my first post, you can see I had originally put a deposit down on a 570s, in March. That same spec, mileage car would cost me on average an extra £5k to buy right now. I also think the 650s and 12c have firmed up. These cars will always prop up the later variant, particularly with the move to hybrid next in line.

From what I can see, McLaren’s reputation, the one that has artificially? increased depreciation, is starting to improve. As they get more established and improve the used car ownership experience, why shouldn’t their values at least keep track with the equivalent Ferrari or Lamborghini? Why is a 458 £130k when the 650s is £85k? Why is a Hurracan £120k when a 570s is £90k? We all know McLaren’s are more capable cars. The rest is subjective. So maybe we will start to see the gap closing as demand increases?

[AstonExige720]

Agreed. Although I think it’s inevitable that a McLaren thread is going to venture into the subject of values at some point

My plan at this point is to keep mine long term, if not forever, so I’m not too worried about depreciation. Well that’s what I keep telling myself

[AstonExige720]

I think when my warranty expires in December 2022, I’ll be in a dilemma in which way to go. Viable options seem to be:

• Extend with McLaren at £4k
• Go for a Thorney one at £3k
• Go for a 3rd party at £1.5-£2k?
• Play the odds and self warranty

If money was no object I’d go for the McLaren one for the dealer support. However even so I’d still be very tempted with the Thorney one as I like the idea it opens up the option of carrying out some modifications (they’ll cover all mods that they do) A generic 3rd party warranty is my least favoured options as it would provide the least level of cover. However may be a cost effective compromise to reduce the risk?

Self warranty is an interesting one. I know there are lots of stories of big bills, but statistically you are much more likely to spend less than the annual cost of the warranty, otherwise these warranty providers wouldn’t be making any money.

[AstonExige720]

Kent Border Kenny said:

No, I said when they are five years old, so any time up to 30 months from now, and in line with the £20k per year that I mentioned.

Do you not think that there’ll be some below £100k before they turn six?

the first 720’s will be 5 years old in 18months? May 2022

[AstonExige720]

Kent Border Kenny said:

I think that at five years old they’ll be in the mid 90s, a little more than a five year-old 650s is, and a moderate amount more than a five year-old MP4.

“I think that at five years old they’ll be in the mid 90s”

That’s what you said, word for word. At five years old, not 5 and a half, or five and three quarters. So I’m not misrepresenting what you’re saying. Which is when the first 720’s reach 5 years old, in less than 18months, you have said those cars will be in the mid 90’s. Down from the average £140-£150k they are now.

Look, let’s agree to disagree, it doesn’t matter, no one knows what they’ll be, it’s just opinion, you have yours, I have mine, they happen to be different. Let’s move on.

[AstonExige720]

Hopefully by the time those dates come along there will be more options available. For example cheaper maintenance / repair options (through independent specialists) therefore making the prospect of running without a warranty more viable?

At some point the penny has to drop with McLaren that to increase sales of new cars they need to make the used car ownership more desirable

[AstonExige720]

Things are looking up on the specialist front. We have Thorney, Litchfield look to be getting into McLaren’s and have apparently bought a couple of development cars and also RE Performance are working on a number of McLaren’s. Then Bell and Colville are now a official service centre

[AstonExige720]

So the missus just posted this up on Facebook....... trying to get my head around what the issue is?

[AstonExige720]

Decided to Sorn it this month, with lockdown and all the salt going down on the roads, figured now is a good time for a deserved rest So whilst off the road decided to have a little fun to relieve some of the boredom, also wanted to buy something for it that wouldn't affect the warranty! I'm not sure if I'll leave it on when I re-tax it next month or March, but it served its purpose for now and made me chuckle a little:

Airbrake up.......
(by the way, you can only see it when the airbrake deploys)