720S US vs UK price

[h0b0]

Partially as a function of the exchange rate and partially as a result of an over inflated used market, the 720S is now £100k more expensive in the US and that is before tax is added in the states.

I have been tracking the prices out here and before Covid, the bottom of the 720S market was around $180k. Today, the low end of the market is $230k with only a couple of examples before jumping to $250k and beyond.

Looking in autotrader in the UK there are cars for £140k and up. If they were left hand drive I’d be tempted to look into importing one to the US.

Crazy difference in prices and I’m hoping for them to realign.

I’m sure places like Singapore are even more mental than the US right now.

[alabbasi]

Look up 25 year rule. Importing a car that's younger is practically impossible.

[964Cup]

alabbasi said:

Look up 25 year rule. Importing a car that's younger is practically impossible.

Only for cars that weren't originally type-approved in the US. The OP has a point, but I suspect import duties and the US obsession with "clean Carfax" and ludicrously low mileages would wipe out any profit. Their high-end car market seems to consist almost entirely of garage queens and associated polishing of protrusions, with a side order of idiots who spend vast fortunes modifying their cars to make them worse.

[Streetbeat]

There is a lhd quite high spec and low mileage one for sale on autotrader if you are feeling brave.

[alabbasi]

964Cup said:

Only for cars that weren't originally type-approved in the US

That's not how it works. You'll need documentation from the manufacturer that specifically says that that particular car meets EPA and DOT standards. Manufacturers don't give that out. He can certainly buy a car from a US dealer and pick it up in the UK, but that's not a private import.

[h0b0]

The 25 year rule is a good point. I’d mistakenly thought that if the car had been sold in the local market it might be easier to import. There are 3 or 4 years of land rover that qualify and can be bought under 25 years old.

[alabbasi]

If it has the manufacturer sticker under the bonnet that says that it meets EPA and DOT , it qualifies. Without it, it won't

[h0b0]

Is that something that comes with UK/ Euro spec car?

[alabbasi]

No, it will only come on cars bound for the US when new. In the 80's, the grey market for cars was quite active with private importers buying new and slightly used cars from Germany and other countries and and selling them here at a profit. These cars are generally more desirable because they were cheaper and they made more power than the US spec cars that were tuned to pass emissions (think Porsche 928S which made 225hp here and 300hp everywhere else)

It was so rampant that dealers and manufacturers lobbied hard to kill the grey market off. By 1986, all cars imported into the US had to have something from the manufacturer stating that it meets emissions and safety standards. BMW to this day won't let me buy any Euro specific parts for my BMW M635CSI which is a grey market car. You can get an exemption for historic vehicles (museums etc and temporary imports), the rest of us have to wait 25 years.

[old phart]

964Cup said:

Only for cars that weren't originally type-approved in the US. The OP has a point, but I suspect import duties and the US obsession with "clean Carfax" and ludicrously low mileages would wipe out any profit. Their high-end car market seems to consist almost entirely of garage queens and associated polishing of protrusions, with a side order of idiots who spend vast fortunes modifying their cars to make them worse.

Well said.

[Frogmella]

Prices are softening somewhat in the US. We're starting to see Spiders dip below 300k after being 320k+ the entire year.

Looking at auctions, you can pick up a modified stbox 720 for around $250k.

To the OP's point the market is inflated here in the US (Don't even get me started on Lamborghini, which is still pumped up and the steroids are about to wear off). Whilst some cooling would be welcome I hope the rampant depreciation of old does not return as it doesn't help the brand overall.


Edit - just looked at Autotrader UK and nearly fell off my chair!

Edited by Frogmella on Thursday 6th October 17:01

[h0b0]

Pre Covid the bottom of the market was $180k. Now it’s $220k.

Frogmella said:

Edit - just looked at Autotrader UK and nearly fell off my chair!

Yeah, that’s what drove the original question.

[Streetbeat]

I just looked at mobile.de from a mention on another thread.

Seems Euro prices are way higher than here too, i wonder why.........

[h0b0]

Taking a look at the recent sales you see the two points way under the curve are the UK. Average sales price is double the UK price. This is not meant to be criticism as it may even be envy. It is odd that the McLaren depreciation does seem to be a UK issue though.


McLaren sale prices

[Streetbeat]

Places like this (ph) doesnt help, loads of non owners regurtitaing some rhetoric they have heard on some clickbait channel without any actual knowledge of ownership.

Also seems a British a thing to want a brand for the kudos of ownership or resale value rather than what the car is actually like, maybe its just too small a country in terms of population/area to fly under the radar in a low volume car without its "issues" being propagated.

Ive a mate who would love a Mclaren and even though he knows during my ownership ive had nothing but a minor issue or two he still keeps repeating he doesnt want one incase it goes wrong, madness!

[samoht]

h0b0 said:

It is odd that the McLaren depreciation does seem to be a UK issue though.

I can't see that PH is to blame; there are forums around the world, each with their own cynics who can tell you the cost of every issue but know nothing of the value of driving a McLaren.

The way I see it, price is a function of supply and demand, and I suspect supply of used McLarens is relatively much higher in the UK. There are what, 11 official dealers in the UK, compared to 1 each in France, Spain and Italy. I think McLaren previously pushed out quite a lot of cars into the home market on good value PCP deals to achieve production numbers, in a way that simply wasn't done in most overseas markets.

This then means that in turn the used market is relatively well-supplied with cars, and prices reflect that, in addition to the general trend of lower used car values in the UK compared to many (but not all) other nations. The recent falls in the value of the pound only exaggerate the effect.

It's interesting to speculate on whether this could change, and UK McLarens could in future be valued more on a par with how they are elsewhere. However I suspect that with relatively few RHD markets to take them, plus other bureaucratic barriers in many places, this 'surfeit' of cars will remain in the UK and continue to represent relatively good value, compared both to their siblings elsewhere and to their Italian rivals.

[Cheib]

From what I've read cars in the US need to be US Spec if you want to be able to sell them on and realistically achieve proper retail for them...so if you imported a European LHD 720S it needs to be US Spec/Federalised if you ever sell it. There were some very big numbers for cars at the August auctions which in theory make UK cars look very cheap e.g. a low mileage 997 4,0 RS went for something like $750k....there are low mileage LHD cars in the UK which would be maybe £350k but by the time you import it and convert it it's probably a $550k car but because it's not a true US car will never be with the same money as that $750k car.

[samoht]

Suggestion here that the crypto crash may be leading to more McLarens coming on the market in the US, and prices softening
https://twitter.com/BriannaWu/status/1592953236193...



US$255k is £208k here, so still a fair bit higher than the same car would cost here, £150k or so.

I hadn't realised that McLarens were a particular favourite of people who believe in imaginary money, will be interesting to see whether this is enough of an impact to actually significantly affect the market, or not.

[TwoMinds]

Possibility that instant gratification is a particular favourite. If you wanted a new supercar, which brands/models would get you in a seat quickest.