570s - used depreciation

[xcentric]

Hopefully, this is not the usual depreciation thread. This is not about bashing McLarens for falling prices, but trying to assess costs going forwards. I am not expecting it to go up in value.....

I'm hoping to get a 570s spider. Currently, most are at the £100-£115k mark, with 4-8k miles on - though the year seems to make little difference to the price.

Now, given the 12c prices and their trajectory, and also 650's, I am thinking that in 2 years this will have dropped to about £70-80k - does this seem sensible?

Downward pressure - new models becoming available used // having to pay main dealer costs for everything // reluctance by Mc dealers to take older cars? (and on this, do people know what the current spread from them is - about £15k I'm guessing.....
Supporting pressures - hard to see a carbon-tubed supercar with class leading performance dropping hugely further

Thoughts? Relevant experiences?

[davek_964]

I bought my 650 from Ascot about 18 months ago. I think I paid a tad high (part ex'd so limited negotiating power) - they had a yellow one that was newer, lower miles and only slightly more which I think was a better deal - but I preferred VO.

Realistically, given dealer spread - and the refusal they had to buy used stock (think that's improved a bit now) - I would say I lost £20k the instant I drove it off the forecourt.

Since then - maybe another £10k which I don't think is that bad. Although (apart from higher mileage) that's for a better car than I bought, since it's had a full respray, full PPF and soft close added since I bought it.

[R8Reece]

xcentric said:

Hopefully, this is not the usual depreciation thread. This is not about bashing McLarens for falling prices, but trying to assess costs going forwards. I am not expecting it to go up in value.....

I'm hoping to get a 570s spider. Currently, most are at the £100-£115k mark, with 4-8k miles on - though the year seems to make little difference to the price.

Now, given the 12c prices and their trajectory, and also 650's, I am thinking that in 2 years this will have dropped to about £70-80k - does this seem sensible?

Downward pressure - new models becoming available used // having to pay main dealer costs for everything // reluctance by Mc dealers to take older cars? (and on this, do people know what the current spread from them is - about £15k I'm guessing.....
Supporting pressures - hard to see a carbon-tubed supercar with class leading performance dropping hugely further

Thoughts? Relevant experiences?

If the Artura is a success, McLaren keep reducing availability as they have done recently, the reliability myths put less buyers off and QA issues are addressed, I think Mac won’t be hit as much as before.

So Spiders at £70k to £80k in 2 years will mean coupes at £55k to £65k which to me sounds a little low. Oh for a crystal ball.

[drcarrera]

There seem to be quite a few of us on here contemplating getting into a 570! Extrapolate that and there looks to be quite a pent up demand, which will keep prices strong for most of this year, I would think.
Next year, more cars coming out of warranty and more 720s coming to market may push prices lower. Also, I can see a lot of 600LTs coming up when the two year deals end which may put further pressure on 570 prices. Will there be some owners trading up to the Artura as well?
In short, buying this year may well see a fairly major depreciation over the subsequent couple of years in addition to the 10-15K "dealer spread". However, they're such good cars the curve will probably flatten out a lot after that.
I've no particular knowledge though, so it's just my "feeling" and could just be complete bks!

Personally, if lockdown eases significantly and I can get a car with the spec I want early enough to give me a good few months of driving this year I'll go for it, otherwise I'll probably wait until early next year as I can't see me using it that much over winter.
Bottom line is that I'm not buying as an investment but to enjoy so ultimately depreciation doesn't enter into the equation. If I was that worried about it I'd just stick with what I've got but where's the fun in that?!

[xcentric]

That all makes sense, though I notice that the 720s spider is not dropping at all really - £60k premium at the moment - so for spiders I don't think there'll be too much downward pressure this year....

[R8Reece]

I don’t think you can judge Macs together, you need to consider each model separately.

Both 12C and 720s have, rightly or wrongly, suffered from negativity and huge depreciation but IMHO bottomed out. The first 720s’s might have some more to go but 12C’s are appreciating. The other models haven’t seen the same so reckon they will remain strong bar the GT which hasn’t sold well.

The easing of lockdown and the approaching Summer will probably help with prices stay strong - available numbers have dropped significantly in lockdown.

[CharlesElliott]

They dropped around 15%+ in the last year, I suspect that will be the same this year - or maybe more like 10%.

There is also a habit of 570S Spiders being advertised in the 570S Coupe section of Pistonheads.

Here's a chart of the lowest price 570S Spider on PH over the last year.

[Lee Jones Jnr]

I don’t see spiders dropping as low as 70 in two years unless very high mileage

[xcentric]

CharlesElliott said:

Here's a chart of the lowest price 570S Spider on PH over the last year.

Is that the result of industrious monitoring of the ads, or is there a way of extracting that for a variety of models? Most useful, many thanks.

[Sarnie]

Lee Jones Jnr said:

I don’t see spiders dropping as low as 70 in two years unless very high mileage

Also, just marking the lowest available at any given time isn't indicative of the market as a whole.....

[anonymous-user]

Following this thread with interest. Was considering selling my 570 Spider but decided to maybe hold fire until Spring now.

[CharlesElliott]

xcentric said:

Is that the result of industrious monitoring of the ads, or is there a way of extracting that for a variety of models? Most useful, many thanks.

It's carpricetracker - https://www.carpricetracker.com/

[The Surveyor]

It'll be interesting to see if the launch of the Artura has any influence on the older Sports Series cars. It's considerably more expensive and comes with a longer 5 year warranty which should prop-up the residuals, yet its a new McLaren meaning the 570 is instantly the 'old' model. Also, there is talk of McLaren reducing the proportion of cars which are built for the home market, they only made 76 UK spec 765LT's for example, the rest heading abroad.

There certainly looks to be limited stock available though, across the whole dealership network there are only 7 570s coupe's listed, and only 3 spiders.

[Sarnie]

The Surveyor said:

It'll be interesting to see if the launch of the Artura has any influence on the older Sports Series cars. It's considerably more expensive and comes with a longer 5 year warranty which should prop-up the residuals, yet its a new McLaren meaning the 570 is instantly the 'old' model. Also, there is talk of McLaren reducing the proportion of cars which are built for the home market, they only made 76 UK spec 765LT's for example, the rest heading abroad.

There certainly looks to be limited stock available though, across the whole dealership network there are only 7 570s coupe's listed, and only 3 spiders.

A circa £220k Artura isn't going to affect £90k 570s' for a long long time.

You are right about availability though...........I looked at listing my 570s a year ago and I'm sure there were nearly a hundred cars for sale.....currently only 37 on PH, of which quite a few are Spiders.......

[R8Reece]

CharlesElliott said:

They dropped around 15%+ in the last year, I suspect that will be the same this year - or maybe more like 10%.

There is also a habit of 570S Spiders being advertised in the 570S Coupe section of Pistonheads.

Here's a chart of the lowest price 570S Spider on PH over the last year.

Mmmm this graph definitely isn't accurate of the market as I've seen 570S Spiders advertised for £94k and £95k since September last year.

It might be the PH choice as the above cars were available on AT though!

[Streetbeat]

The Surveyor said:

It'll be interesting to see if the launch of the Artura has any influence on the older Sports Series cars. It's considerably more expensive and comes with a longer 5 year warranty which should prop-up the residuals, yet its a new McLaren meaning the 570 is instantly the 'old' model. Also, there is talk of McLaren reducing the proportion of cars which are built for the home market, they only made 76 UK spec 765LT's for example, the rest heading abroad.

There certainly looks to be limited stock available though, across the whole dealership network there are only 7 570s coupe's listed, and only 3 spiders.

Old model doesnt necessarily mean prices will drop, especially in this case being as its so radically different with its drivetrain, hybrid will instantly put some people off.

[The Surveyor]

Sarnie said:

The Surveyor said:

It'll be interesting to see if the launch of the Artura has any influence on the older Sports Series cars. It's considerably more expensive and comes with a longer 5 year warranty which should prop-up the residuals, yet its a new McLaren meaning the 570 is instantly the 'old' model. Also, there is talk of McLaren reducing the proportion of cars which are built for the home market, they only made 76 UK spec 765LT's for example, the rest heading abroad.

There certainly looks to be limited stock available though, across the whole dealership network there are only 7 570s coupe's listed, and only 3 spiders.

A circa £220k Artura isn't going to affect £90k 570s' for a long long time.

You are right about availability though...........I looked at listing my 570s a year ago and I'm sure there were nearly a hundred cars for sale.....currently only 37 on PH, of which quite a few are Spiders.......

Agreed, but the point I was trying to make was had they launched a 'new' £155k 580s similar to the old one, then flooded the market with discounted new cars, the value of the 570s would have taken a pounding.

There seams to be a real increase in interest for £80 - £120k McLarens at a time when the supply of proper approved-used cars is at an all-time low, that can only help stabilise values, which in turn will help attract more buyers to the brand

[russ63]

Here is a picture of the car

[russ63]

[xcentric]

interesting, though possibly not my ideal colour - your profile doesn't allow an email but mine does, so please feel free to send information and price.....