Complete Newbie Looking for Advice
Discussion
Hi All,
I’ve always loved cars but have always bought sensible vehicles. I don’t earn the kind of money that I suspect most of you earn but I’m on £100k and live comfortably. Having been divorced housing wise I’m ok but nothing spectacular and so have no garage! I’ve just had some stock options that have landed me a sizeable lump after tax.
The reason I’m sharing this is in the hope it sets the scene for my question!
I’m looking to scratch the itch of having a nice car, probably just for a year. Now whilst I have the cash for the car I doubt I earn enough to afford to run the car (it’s going to be a weekend car). I have no idea how much owning a car like this is going to cost me for a year, having never owned anything other than sensible cars (company cars) I’m just in complete unknown territory.
Now my requirements are, hard top convertible with a 0-60 sub 5 seconds.
The two I’m looking at are a Ferrari California (£75k ish) or a McLaren 570S (£85k ish).
I literally have no idea how much servicing, potential problems could cause me and no idea how I find out. Would really appreciate some pointers to find this information out. Are there specialists that will look at any car I’m thinking of buying?
Perhaps I am being stupid even contemplating this? Should I just buy a £40k Porsche Cayman instead?
I’d really appreciate peoples opinions!
With thanks.
Andy
I’ve always loved cars but have always bought sensible vehicles. I don’t earn the kind of money that I suspect most of you earn but I’m on £100k and live comfortably. Having been divorced housing wise I’m ok but nothing spectacular and so have no garage! I’ve just had some stock options that have landed me a sizeable lump after tax.
The reason I’m sharing this is in the hope it sets the scene for my question!
I’m looking to scratch the itch of having a nice car, probably just for a year. Now whilst I have the cash for the car I doubt I earn enough to afford to run the car (it’s going to be a weekend car). I have no idea how much owning a car like this is going to cost me for a year, having never owned anything other than sensible cars (company cars) I’m just in complete unknown territory.
Now my requirements are, hard top convertible with a 0-60 sub 5 seconds.
The two I’m looking at are a Ferrari California (£75k ish) or a McLaren 570S (£85k ish).
I literally have no idea how much servicing, potential problems could cause me and no idea how I find out. Would really appreciate some pointers to find this information out. Are there specialists that will look at any car I’m thinking of buying?
Perhaps I am being stupid even contemplating this? Should I just buy a £40k Porsche Cayman instead?
I’d really appreciate peoples opinions!
With thanks.
Andy
Can be daunting stepping into cars at the price point discussed if it's a big jump from what you've driven normally. On the 570S you won't get any Spiders for sub £100k but £85-95k will get you a coupe. Running one with a Mclaren extended warranty is a must so budget £3500 pa for that, servicing about £800-£1200 for minor/major. Tyres about £300 a corner but should last 10k miles assuming you don't track it. Tax and insurance another 1k however the insurance premium will vary of course. So assuming the warranty covers any issues you're looking at £6k a year before fuel or consumables...it's a fair chunk but they're proper supercars. For me I worked my way through some RS Audis to a V10 R8 and V12 Vantage before taking the Mclaren plunge. Perhaps something like the Cayman you mentioned would make a good stepping stone to see if you enjoy owning a proper sportscar before committing more capital.
I have no comment, other than if you buy a super ish car it will be more of an event than buying what is more like a fast company car.
All super cars have the ability to punish your wallet, but if you sell after a year the risk is low, but think about who you will be selling it to and how. If you are doing sale or return, that will hit you in the pocket.
All super cars have the ability to punish your wallet, but if you sell after a year the risk is low, but think about who you will be selling it to and how. If you are doing sale or return, that will hit you in the pocket.
blueg33 said:
I have no comment, other than if you buy a super ish car it will be more of an event than buying what is more like a fast company car.
All super cars have the ability to punish your wallet, but if you sell after a year the risk is low, but think about who you will be selling it to and how. If you are doing sale or return, that will hit you in the pocket.
Affordability depends on many things. I have 2 kids at uni so can’t spend as much as I would like. All super cars have the ability to punish your wallet, but if you sell after a year the risk is low, but think about who you will be selling it to and how. If you are doing sale or return, that will hit you in the pocket.
Hmmmmm
A few days ago https://www.pistonheads.com/gassing/topic.asp?h=0&... also https://www.pistonheads.com/news/ph-buying-guides/...
Plenty of advice in the McLaren section here - just scroll down for useful threads https://www.pistonheads.com/gassing/forum.asp?h=0&...
A few days ago https://www.pistonheads.com/gassing/topic.asp?h=0&... also https://www.pistonheads.com/news/ph-buying-guides/...
Plenty of advice in the McLaren section here - just scroll down for useful threads https://www.pistonheads.com/gassing/forum.asp?h=0&...
Oh geez how did I not find that buying guide. As for scrolling through the mclaren section, I have done that and feel it left me with more questions than it did answers! I got to page 43 so far.
Scrolling through the Ferrari section (once I worked out which section!) I found someone asked the same question recently.
I guess I need to just keep on scrolling and reading. Thanks.
Scrolling through the Ferrari section (once I worked out which section!) I found someone asked the same question recently.
I guess I need to just keep on scrolling and reading. Thanks.
when you're bored with the rest, try the gallardo buyers' guide...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
If it is your first foray into the "Super car" world I'd stick with something known to be reliable such as a 911 or R8. Whilst there are lots of threads here and on many other forums about horror stories with super cars they are generally few and far between, but if they do happen you will need an official dealer warranty to get the best result to address issues as quite a few 3rd party warranties try VERY hard to duck out of claims. Most also have a maximum payout level that won't cover a gearbox on a Ferrari or McLaren for example. Something a lot of people buying these cars from outside the main dealer network overlook with rose tinted eyes as they are just focused on getting the keys and enjoying the driving.
As you are possibly only keeping the car for one year buy one from a main dealer who offers a 2 year manufacturer approved used warranty, Porsche and Audi amongst others do this. From a main dealer the car should have new, or almost new tyres (check they are OEM recommended) and have a full main dealer service history. If you do want to sell the car after 1 year not only will main dealers be interested but most after market specialists will also be happy to bid on the car with a manufacturers warranty to use as a selling point.
The other important thing is to get out and drive a few as they all have significantly different driving characteristics and you will find one or two feel more suited to your own driving style/requirements. Buy for yourself and not for being seen in is the way forward
As you are possibly only keeping the car for one year buy one from a main dealer who offers a 2 year manufacturer approved used warranty, Porsche and Audi amongst others do this. From a main dealer the car should have new, or almost new tyres (check they are OEM recommended) and have a full main dealer service history. If you do want to sell the car after 1 year not only will main dealers be interested but most after market specialists will also be happy to bid on the car with a manufacturers warranty to use as a selling point.
The other important thing is to get out and drive a few as they all have significantly different driving characteristics and you will find one or two feel more suited to your own driving style/requirements. Buy for yourself and not for being seen in is the way forward
When you buy a car built in relatively low volumes there is an even higher element of luck involved than versus buying a car built in high volume.
You can be lucky and get a great car or you can be unlikely and have something big go wrong.
You don’t find out until you do it.
But if you get a big bill, you just have to swallow it.
You can be lucky and get a great car or you can be unlikely and have something big go wrong.
You don’t find out until you do it.
But if you get a big bill, you just have to swallow it.
Llcooldl said:
I was nervous putting this post up, thought I’d get roasted.
Thanks to everyone replying, I really appreciate it.
Not sure why. Most of us who have a super car had similar thoughts and worries before buying the first one. Thanks to everyone replying, I really appreciate it.
What I can say is that even an old super car is an event compared with a modern sports car that is likely faster.
I have a 20 year old f360, I had much newer and equally fast Lotus Evoras, and have spent quite a bit of time behind the wheels of new Cayman, Audi R8 and 911 targa. But none of those have the drama or sense of occasion of the old F360
Given you are thinking about selling in 12 ish months.
Do think about your buy price vs your sell price whilst remembering there will be a margin.
It is much harder to sell a £70-£100k car privately than a £10k one so most likely if you are cautious you buy from a main dealer (large margin) then likely end up selling back to another dealer (maybe go independent). So even if the car “price” has stayed flat (I.E. the adverts in a year are at the same price as they are now, you will likely take a 10-20% haircut on that. So if you buy a £100k car today and sell in a year with all prices remaining where they are today and you do minimal miles you will lose around £20k, maybe more.
Of course things could appreciate or the market could have the correction that many have been predicting for a while now.
My advice would be to be quite spec selective when you buy to ensure good resale.
Do think about your buy price vs your sell price whilst remembering there will be a margin.
It is much harder to sell a £70-£100k car privately than a £10k one so most likely if you are cautious you buy from a main dealer (large margin) then likely end up selling back to another dealer (maybe go independent). So even if the car “price” has stayed flat (I.E. the adverts in a year are at the same price as they are now, you will likely take a 10-20% haircut on that. So if you buy a £100k car today and sell in a year with all prices remaining where they are today and you do minimal miles you will lose around £20k, maybe more.
Of course things could appreciate or the market could have the correction that many have been predicting for a while now.
My advice would be to be quite spec selective when you buy to ensure good resale.
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