F430 and Gallardo Owners

[amcphillips]

You lucky people! Just wanting to ask a few questions if possible!

My company is about to purchase one of each of these and I'm just trying to estimate my running costs. The cars are likely to be doing about 40k miles each per year!

I was just wondering what the expected annual cost of servicing and things such as tyres, brakes, clutches etc is likely to be? I'm estimating up to 12k each at the moment but realise that this depends on whether its done at a main dealer or specialist.

Thanks for any help
Andrew

[maxf]

amcphillips said:

You lucky people! Just wanting to ask a few questions if possible! My company is about to purchase one of each of these and I'm just trying to estimate my running costs. The cars are likely to be doing about 40k miles each per year! I was just wondering what the expected annual cost of servicing and things such as tyres, brakes, clutches etc is likely to be? I'm estimating up to 12k each at the moment but realise that this depends on whether its done at a main dealer or specialist. Thanks for any help Andrew

I'd have thought you'd be on more than £12k just on clutches for the lambo!

[amcphillips]

Yeah thats what I've thought after reading a few of the other posts about its appetite for clutches

[tcf]

Depends how old the car is. If you buy a new car it will have the gen 3 clutch would should be OK. But it is 520bhp and 4 wheel drive so if you race from the lights the clutch won't last very long! Services on a Gallardo are 7,500 miles and cost £800-1000 roughly. Clutch is £4k if its needed.

Don't know about the 430 but will probably be similar.

Hope that helps a bit

William

[amcphillips]

So if we say 5 services in a year at 1k each, then no more than 2 (hopefully) clutches its 13k before tyres brakes etc. Still affordable I think.......

[tcf]

Depreciation will also be pretty stiff. You may be better off getting a used car with a few miles and the gen 3 clutch fitted. Get in touch through my profile if I can help.

William

[amcphillips]

Yep I had been planning on trying to source a low mileage model 6-12 months old. Just putting the finance in place and then I'll certainly be in touch.

[justinp1]

amcphillips said:

So if we say 5 services in a year at 1k each, then no more than 2 (hopefully) clutches its 13k before tyres brakes etc. Still affordable I think.......

So 13K plus another 3K for two sets of tyres plus brake discs which is 16k.

Then... work out depreciation. People are being offered around £75-£80k by dealers for a Gallardo which is about a year old. And that is for one with a few thousand miles on the clock. With 40K on it maybe knock about £10k or more off. There is a Gallardo on Autotrader with 33k on the clock for £79k, so they would probably look to take that off you for £70k to sell on.

If you are buying the car for £115k, that is £45k in depreciation in the first year, as well as 16k running costs, making £61k cost in a year before insurance, which for a company car with that milage will be insane, petrol for 40k of driving even at about 20mpg is going to come to about £10k.

Realistically your cost of ownership for the company in year one is £75k.

Add to that your own company car tax.

Unless you are really trying to make a loss for tax reasons, it will be a very expensive exercise!

[amcphillips]

There is no company car tax as far as I am aware as its not being driven by an employee, its for hire and a business asset. Depriciation will be whatever market forces determine as the business model is not dependant on having a minimum final value.

[amcphillips]

Maybe I should double check the tax situation again with an accountant though!

[justinp1]

amcphillips said:

There is no company car tax as far as I am aware as its not being driven by an employee, its for hire and a business asset. Depriciation will be whatever market forces determine as the business model is not dependant on having a minimum final value.

Fair enough! I run a business myself, which is quite an unconventional moneymaker on a complex business model, so if you have worked it out for yourself and the figures work, then all the better.

If it is for hire, I would certainly be getting a quote for that now. I know of at least one company who have been stung because after purchasing the vehicles and running them, they have been stung for insurance costs, and had to stop hiring the high end vehicles. The insurance cost was huge for each hire which affected the cost, plus also the excess which the client had to put up was something rediculous like £10,000 which obviously turned people away.

Out of interest though, according to your business plan, whats would be your daily rate for the Gallardo?

[amcphillips]

Its actually run on a club basis so its an annual fee in return for points. At the moment its looking like midweek in summer would work out at £400 per day and £600 at the weekend. In the winter looking at £200 per day midweek and £400 weekend.

I think that looks like quite good value, anyone else?

[amcphillips]

On the theme of insurance costs I've had a very competitive quote to cover all my vehicles which is about a quarter of what I was expecting. This is subject to change depending on where the vehicles are kept and what vehicles I eventually buy but its all looking very promising!

[justinp1]

amcphillips said:

Its actually run on a club basis so its an annual fee in return for points. At the moment its looking like midweek in summer would work out at £400 per day and £600 at the weekend. In the winter looking at £200 per day midweek and £400 weekend. I think that looks like quite good value, anyone else?

Seems like a good deal, have you thought about a maximum mileage and an excess cost?

If the cars are doing 40k a year you will have to get a very good level of business to cover the costs.

[amcphillips]

Its going to be unlimited mileage, 40k is based on what I think they'll end up doing. Excess still to be decided.

The club doesn't launch until we have a set number of people signed up and committed. This is however a very low number so shouldn't be too difficult to find the clients.

[octane]

tcf said:

Depreciation will also be pretty stiff. You may be better off getting a used car with a few miles and the gen 3 clutch fitted. Get in touch through my profile if I can help. William

It is true the third generation clutch is better than the first BUT im afraid the issue has not been resolved.
The clutch is very small and a thicker plate and different material has helped somewhat. On 06 cars it is helped even more by lower gearing.

[anjum]

I'd check the co. car status with your accountant (benefits in kind - and all of that really happy stuff)....

Hope it works for you.

Cheers

Anjum

[justinp1]

anjum said:

I'd check the co. car status with your accountant (benefits in kind - and all of that really happy stuff).... Hope it works for you. Cheers Anjum

If it belongs to a limited company and he is not going to drive it apart from putting petrol in it etc (ahem...) then there is no company car tax to pay.

[amcphillips]

Justin you wouldn't happen to work for P1 would you?

[northo]

amcphillips,

Tyres for a 430 will cost about £200 per corner. Driven by club members you should get 6-8k out of a set of rears. Clutch is about £5k, same for Lambo. Depending on your members you can expect to blow a clutch on either as early as 5k however driven sensibly the could last more than double that. You will probably get the first one for free, then you are on your own. Services for 430 every 6k miles, for lambo every 7500. Cost average £1500.
If you put 40k per annum on the cars, the cost of maintenance will be, how can I put this - astronomical!

Less bodywork - Lambo's dont chip as easliy as F430's. You will want to repaint the front end of your 430 after 20k. Seats on 430 wear fast too. Water dripping off tailpipes of F430 burn the paint on the rear bumper, so you will need to factor that in.

And don't buy F1 shift - he use oftlaunch control will shorten clutch life dramatically.

How are your plans going by the way?