Financing 600LT or 720s
Discussion
I’m tempted by the prices of a used 600LT or 720s but I want to be sure the downside is known. It’s this:
How have people financed a USED McLaren recently? I’d like to get a sense of what (if any) GFV can be secured on a PCP deal. Underwriting the sale price is important to me as I’ve heard numerous stories of people not even getting a bid on their vehicle come sale time.
Before I open up a conversation with a dealer I want to understand what others have managed to secure.
(This isn’t a cash vs finance thread. I can buy the car cash. I want a defined max cost of ownership)
Thank you in advance!
How have people financed a USED McLaren recently? I’d like to get a sense of what (if any) GFV can be secured on a PCP deal. Underwriting the sale price is important to me as I’ve heard numerous stories of people not even getting a bid on their vehicle come sale time.
Before I open up a conversation with a dealer I want to understand what others have managed to secure.
(This isn’t a cash vs finance thread. I can buy the car cash. I want a defined max cost of ownership)
Thank you in advance!
RichardAP said:
Have you tried putting the details into something like the magnitude finance calculator.
For example a 2018 600LT with 650 miles listed at £134,950 has a gfv of £60k after 4 yrs and 32000 miles.
Trouble with that is it won’t be accurate. A 2012 12C will be 60k trade if a little leggy/tired, in good condition probably more. For example a 2018 600LT with 650 miles listed at £134,950 has a gfv of £60k after 4 yrs and 32000 miles.
You may be saying that’s the GFV they offer and if so you’re probably right but a 600 LT in 2025 will be worth more than that if for no other reason than inflation - so I’d say £70k+ in today’s money but probs nearer £85k in inflated money (barring unknowns like CV-22/23/24 or ICE uber taxes) so your GFV of £60k is too low. But, that’s what GFVs need to do for those issuing them
Boshly said:
RichardAP said:
Have you tried putting the details into something like the magnitude finance calculator.
For example a 2018 600LT with 650 miles listed at £134,950 has a gfv of £60k after 4 yrs and 32000 miles.
Trouble with that is it won’t be accurate. A 2012 12C will be 60k trade if a little leggy/tired, in good condition probably more. For example a 2018 600LT with 650 miles listed at £134,950 has a gfv of £60k after 4 yrs and 32000 miles.
You may be saying that’s the GFV they offer and if so you’re probably right but a 600 LT in 2025 will be worth more than that if for no other reason than inflation - so I’d say £70k+ in today’s money but probs nearer £85k in inflated money (barring unknowns like CV-22/23/24 or ICE uber taxes) so your GFV of £60k is too low. But, that’s what GFVs need to do for those issuing them
macdeb said:
If you buy cash (of which you can), you know where you stand surely rather than if's, but's, and maybe? 
Not quite. With a GFV you know exactly how much you can lose in the worst case scenario and as above, you can walk away at the end of the period. If you buy outright it's your problem to sell at the end and it impossible to foresee where the value will be in 2/34 years time.On ealry Mcl finances i seem to understand that some finance companies took a bigger bath than the owner, doe to over inflated GFV which were nowhere near the value of the car at the end of the period
Gfv is really good on a 650s with Santander. My 650s is costing me £650 a month with a 10% deposit. It was £1500 a month on the 570s. I couldn’t believe the price for a 650s so snapped the deal up. Mclaren finance was not a very good deal when I asked although this was October last year.
I can’t see the 650s dropping that much to be honest, seems the best value deal on any super car at the minute.
I can’t see the 650s dropping that much to be honest, seems the best value deal on any super car at the minute.
ttexige said:
Gfv is really good on a 650s with Santander. My 650s is costing me £650 a month with a 10% deposit. It was £1500 a month on the 570s. I couldn’t believe the price for a 650s so snapped the deal up. Mclaren finance was not a very good deal when I asked although this was October last year.
I can’t see the 650s dropping that much to be honest, seems the best value deal on any super car at the minute.
Is this a 2 year deal ?I can’t see the 650s dropping that much to be honest, seems the best value deal on any super car at the minute.
Did the 650 come with warranty, otherwise can add another £400 a month to the ownership experience.
Sounds like a cracking deal my 650 cost me the best best part of £2k a month over 2 years (bought for cash, therefore plus opportunity cost)
ttexige said:
Gfv is really good on a 650s with Santander. My 650s is costing me £650 a month with a 10% deposit. It was £1500 a month on the 570s. I couldn’t believe the price for a 650s so snapped the deal up. Mclaren finance was not a very good deal when I asked although this was October last year.
I can’t see the 650s dropping that much to be honest, seems the best value deal on any super car at the minute.
Seems very cheap. I can’t see the 650s dropping that much to be honest, seems the best value deal on any super car at the minute.
Considering a nice 650s can be had for 85k are you saying you put 8500k in and only £650 a month, what is your gfv?
It’s a 4 year deal and it was £82000 and costs £668 a month (to be exact). I didn’t buy off a mclaren dealer but it was serviced and checked over at Thorney before I picked it up. It comes with a 3 month warranty off the selling dealer and Thorney said I can put a warranty on with them if I want as they have checked it. I won’t be getting a warranty on it though I’ll deal with what breaks myself. My brother had a 12c before and had no issues at all. To many people on the internet give mclaren a hard time and It’s not justified.
I can’t remember the gfv without checking the paperwork it was somewhere in the £50’s. Maybe £55k.
When I was looking at 570s and 650s cars at mclaren dealers the monthly payments were always loads higher.
Magnitude we’re doing similar deals at the time but just checked and they won’t quote on my car now so maybe this deal has stopped but worth a call to Santander or magnitude
I can’t remember the gfv without checking the paperwork it was somewhere in the £50’s. Maybe £55k.
When I was looking at 570s and 650s cars at mclaren dealers the monthly payments were always loads higher.
Magnitude we’re doing similar deals at the time but just checked and they won’t quote on my car now so maybe this deal has stopped but worth a call to Santander or magnitude
DeuceDeuce said:
What does your wealth manager say to change your mind? Genuinely interested.
I'm sure its a variation of "if you can make your money work hard for you, somehow, let it do its thing rather than tie it up in a depreciating asset". And if you can reliably generate more than finance costs (admittedly, quite an ask - the "reliably" bit), then the sensible wealthy man will always use finance.ttexige said:
It’s a 4 year deal and it was £82000 and costs £668 a month (to be exact). I didn’t buy off a mclaren dealer but it was serviced and checked over at Thorney before I picked it up. It comes with a 3 month warranty off the selling dealer and Thorney said I can put a warranty on with them if I want as they have checked it. I won’t be getting a warranty on it though I’ll deal with what breaks myself. My brother had a 12c before and had no issues at all. To many people on the internet give mclaren a hard time and It’s not justified.
I can’t remember the gfv without checking the paperwork it was somewhere in the £50’s. Maybe £55k.
When I was looking at 570s and 650s cars at mclaren dealers the monthly payments were always loads higher.
Magnitude we’re doing similar deals at the time but just checked and they won’t quote on my car now so maybe this deal has stopped but worth a call to Santander or magnitude
Cracking dealI can’t remember the gfv without checking the paperwork it was somewhere in the £50’s. Maybe £55k.
When I was looking at 570s and 650s cars at mclaren dealers the monthly payments were always loads higher.
Magnitude we’re doing similar deals at the time but just checked and they won’t quote on my car now so maybe this deal has stopped but worth a call to Santander or magnitude
[quote=ttexige I won’t be getting a warranty on it though I’ll deal with what breaks myself. My brother had a 12c before and had no issues at all. To many people on the internet give mclaren a hard time and It’s not justified.
[/quote]
^This is the single most refreshing post in the McLaren section for years!! There's so much scaremongering that is completely unjustified........I've had McLarens years, underwarranty and not needed to claim on any of them once......good for you OP!!
[/quote]
^This is the single most refreshing post in the McLaren section for years!! There's so much scaremongering that is completely unjustified........I've had McLarens years, underwarranty and not needed to claim on any of them once......good for you OP!!
Mr Cod said:
I'm sure its a variation of "if you can make your money work hard for you, somehow, let it do its thing rather than tie it up in a depreciating asset". And if you can reliably generate more than finance costs (admittedly, quite an ask - the "reliably" bit), then the sensible wealthy man will always use finance.
Maybe that’s it and I don’t want this thread to get into that argument, I’m just curious what their wealth manager actually recommended they do. No authorised & regulated, financial professional would specifically ‘recommend’ borrowing when something could be paid for with existing funds. That’s the equivalent of them recommending you borrow to fund a ‘risk based’ investment.
Assuming the poster is using ‘wealth manager’ to describe their investment manager or point of contact for their investments, then it’s in their wealth managers interest to lend to their client against the value of their investments as they get to keep the % fee for the management of investment and a new fee & margin for the new loan facility.
I’m sure that the paperwork related to this ‘advice’ from the wealth manager will document that it was the client’s idea to do this and not a recommendation from the wealth manager. That’s not to say the wealth manager won’t talk to you in a way that suggests it’s a good idea. It’s just that what you think was said and what is documented can be quite different.
Mr Cod said:
DeuceDeuce said:
What does your wealth manager say to change your mind? Genuinely interested.
I'm sure its a variation of "if you can make your money work hard for you, somehow, let it do its thing rather than tie it up in a depreciating asset". And if you can reliably generate more than finance costs (admittedly, quite an ask - the "reliably" bit), then the sensible wealthy man will always use finance.Not exactly a genius is he ?
ETA - If he really was smart, he would advise that you don't buy the depreciating asset at all, but instead borrow as much as you can and put it in the higher returning asset.
Edited by Jules360 on Thursday 28th January 10:47
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