600LT Finance deals - what happens next?
Discussion
I was fortunate enough to get one of the last deals on the LT Spider just prior to lockdown.
Forward a few months and McLaren look to be suffering quite badly from the fallout, the used prices have only worsened as a result of CO19 and the punchy GFVs on these deals are way out of range.
Question is what do people think will happen with these cars and the huge loss McLaren will be facing on each of these deals? My GFV is £158k after 2 years, arguably they aren't even worth that used today!
Any chance current owners would get the opportunity to buy out the car at a much lower price on their existing cars come the time to hand back?
I know this is all speculation, but good to get some points of view
Forward a few months and McLaren look to be suffering quite badly from the fallout, the used prices have only worsened as a result of CO19 and the punchy GFVs on these deals are way out of range.
Question is what do people think will happen with these cars and the huge loss McLaren will be facing on each of these deals? My GFV is £158k after 2 years, arguably they aren't even worth that used today!
Any chance current owners would get the opportunity to buy out the car at a much lower price on their existing cars come the time to hand back?
I know this is all speculation, but good to get some points of view
Looks like a good deal. I can’t comment on what’ll happen when the ‘loss’ is realised but the market at the time will determine what happens to those cars. I’m also not sure on whether these cars will be cash loss making for Mclaren (though I’d be surprised) as I don’t know enough about the make up of their margins.
What was the list on the car? Hope you’re enjoying it.
What was the list on the car? Hope you’re enjoying it.
I got a very similar deal on my 600LTS but with 8k miles pa. Rough numbers below.
1st Payment 22k
2 years @ £800pm
List price 225k
Discount 42k
GFV 158k
I cannot see how Mclaren won’t end up taking a big hit on these deals which will just amplify their current precarious situation even more. It’s can kicking at its finest..
My main worry is when it comes to hand back time they will be very tough on condition. There’s lots of external carbon on mine so it could get expensive if they pick up every little thing.
1st Payment 22k
2 years @ £800pm
List price 225k
Discount 42k
GFV 158k
I cannot see how Mclaren won’t end up taking a big hit on these deals which will just amplify their current precarious situation even more. It’s can kicking at its finest..
My main worry is when it comes to hand back time they will be very tough on condition. There’s lots of external carbon on mine so it could get expensive if they pick up every little thing.
5050 said:
I got a very similar deal on my 600LTS but with 8k miles pa. Rough numbers below.
1st Payment 22k
2 years @ £800pm
List price 225k
Discount 42k
GFV 158k
I cannot see how Mclaren won’t end up taking a big hit on these deals which will just amplify their current precarious situation even more. It’s can kicking at its finest..
My main worry is when it comes to hand back time they will be very tough on condition. There’s lots of external carbon on mine so it could get expensive if they pick up every little thing.
That is a stonking deal.1st Payment 22k
2 years @ £800pm
List price 225k
Discount 42k
GFV 158k
I cannot see how Mclaren won’t end up taking a big hit on these deals which will just amplify their current precarious situation even more. It’s can kicking at its finest..
My main worry is when it comes to hand back time they will be very tough on condition. There’s lots of external carbon on mine so it could get expensive if they pick up every little thing.
Just enjoy the experience for the next couple of years and concern yourself about handing it back neare the due date. The 600LTS is kilo for kilo the best value sportscar out there in my opinion.
Who knows where the market will be over the next few years?
Calculator said:
Looks like a good deal. I can’t comment on what’ll happen when the ‘loss’ is realised but the market at the time will determine what happens to those cars. I’m also not sure on whether these cars will be cash loss making for Mclaren (though I’d be surprised) as I don’t know enough about the make up of their margins.
What was the list on the car? Hope you’re enjoying it.
£233k list before discount What was the list on the car? Hope you’re enjoying it.
The car is absolutely addictive and one of the prettiest cars I have ever owned.
I upgraded from a 991.2 GT3 so very happy with how much of a drivers car it is
5050 said:
I got a very similar deal on my 600LTS but with 8k miles pa. Rough numbers below.
1st Payment 22k
2 years @ £800pm
List price 225k
Discount 42k
GFV 158k
I cannot see how Mclaren won’t end up taking a big hit on these deals which will just amplify their current precarious situation even more. It’s can kicking at its finest..
My main worry is when it comes to hand back time they will be very tough on condition. There’s lots of external carbon on mine so it could get expensive if they pick up every little thing.
I insisted on Hatfield arranging all the PPF to the car so they could not later on pick on the application causing damage1st Payment 22k
2 years @ £800pm
List price 225k
Discount 42k
GFV 158k
I cannot see how Mclaren won’t end up taking a big hit on these deals which will just amplify their current precarious situation even more. It’s can kicking at its finest..
My main worry is when it comes to hand back time they will be very tough on condition. There’s lots of external carbon on mine so it could get expensive if they pick up every little thing.
McLaren will certainly be making a loss on these deals - hopefully they will still be around in 2 years time!
I guess if they do stop producing most of their cars, it will only make values soar on what is probably their best bang for buck model. Its a hell of a lot of car at c.£120k where I think the car will end up in 2 years time..
No idea but will they really make a loss on those cars? Isn’t Ferrari working on c 80k profit per car or some such figure. Take the VAT off the list and then the question becomes what is the actual per unit profit on the last cars given they probably made the development cost back on the first few thousand 5xx/6xx models
Matty3 said:
That is a stonking deal.
Just enjoy the experience for the next couple of years and concern yourself about handing it back neare the due date. The 600LTS is kilo for kilo the best value sportscar out there in my opinion.
Who knows where the market will be over the next few years?
Completely agree, I will be enjoying to the full and will deal with the hand back when the time comes. Just enjoy the experience for the next couple of years and concern yourself about handing it back neare the due date. The 600LTS is kilo for kilo the best value sportscar out there in my opinion.
Who knows where the market will be over the next few years?
It’s such a good drivers car, nothing comes close at these prices
5050 said:
Matty3 said:
That is a stonking deal.
Just enjoy the experience for the next couple of years and concern yourself about handing it back neare the due date. The 600LTS is kilo for kilo the best value sportscar out there in my opinion.
Who knows where the market will be over the next few years?
Completely agree, I will be enjoying to the full and will deal with the hand back when the time comes. Just enjoy the experience for the next couple of years and concern yourself about handing it back neare the due date. The 600LTS is kilo for kilo the best value sportscar out there in my opinion.
Who knows where the market will be over the next few years?
It’s such a good drivers car, nothing comes close at these prices
- absolutely! Def my next purchaseIts the underlying finance company that takes the hit.
Not Mclaren. Once the car is sold that is the end of the financial impact in terms of Mclaren (aside from any warranty work).
This is the same with the majority of OEM, aside from brands with their own bank/finance arm.
And the special editions are the highest margins for Mclaren so yes they would still be making (larger than normal) margins.
50k hits on 600lt's is the least of Mclarens worries currently unfortunately.
Not Mclaren. Once the car is sold that is the end of the financial impact in terms of Mclaren (aside from any warranty work).
This is the same with the majority of OEM, aside from brands with their own bank/finance arm.
And the special editions are the highest margins for Mclaren so yes they would still be making (larger than normal) margins.
50k hits on 600lt's is the least of Mclarens worries currently unfortunately.
champ19ns said:
Calculator said:
Looks like a good deal. I can’t comment on what’ll happen when the ‘loss’ is realised but the market at the time will determine what happens to those cars. I’m also not sure on whether these cars will be cash loss making for Mclaren (though I’d be surprised) as I don’t know enough about the make up of their margins.
What was the list on the car? Hope you’re enjoying it.
£233k list before discount What was the list on the car? Hope you’re enjoying it.
The car is absolutely addictive and one of the prettiest cars I have ever owned.
I upgraded from a 991.2 GT3 so very happy with how much of a drivers car it is
My friend got one of these a few weeks before lockdown and he's covered 2000 miles in two months. I've just seen a vehicle health check as few faults, leaking damper, gearbox module (on order) and something else oh I remember the radio module. He has a GFV of £180k and whilst he loves the car I doubt he will buy it even at £90k at end of 24 month term. He just plans to move onto the next similar deal. Good time to be a new Mcl owner if you do not mind not owning the car. Their warranty procedure clunky. Cars got leaking damper but in first instance they just wipe down and sees if it reoccurs. Reasonable if the garage not swamped with work but I would've swapped it out without a quibble at 2000 miles. You know he's going to be sending his car back again in a few months and the car be off the road waiting for parts and he's complaining about all sorts of funny noises and rattles. Maybe GT3 type NVH he's not used to?
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