Globe Drive: The risks and rewards of buying a used supercar

Globe Drive: The risks and rewards of buying a used supercar


If you’re like me you’ve dreamt of
owning a supercar since you are a little tiny kid. They’re the automotive equivalent
of Haute Couture. Ridiculous, expensive, but also just beautiful and incredibly
well-made. Depreciation though is the Devil, but it could also be your friend if you’re smart. In general, the more expensive a car is the bigger it’ll drop off so if you want to buy a used supercar you can get someone else to
take that depreciation hit potentially saving hundreds of thousands of dollars. On a supercar from new to used there’s a very slow depreciation in the first three to four years. Over a five-year period, conservatively sixty percent of its original sale price is what that car would retail for. Take this McLaren here
for example, it’s about a hundred and fifty thousand dollars cheaper now than
when it was new six years ago. So, what’s it like to drive? Still amazing, obviously. I’s way too fast for the street; 0 to 200 kilometres
an hour in eight point eight seconds. But it’s not just all about the speed I
mean the steering is amazing it’s hyperactive and that engine behind
me oh my god. The only sign of aging really is from this tired old navigation system, but it wasn’t even great when it was new. In the first five years of the
12C the values fluctuated greatly as they found their place in the market.
As a brand, as a product its found its place. They’re selling for about 60 to 70
percent of what they sold for new. These are five year old vehicles which is in
line with other supercars. Buying a used supercar can almost seem too good to be true. I mean you could buy the thing drive it for a summer and get out maybe
even making money. But that doesn’t take into account costs like insurance. An oil
change for one of these is about six hundred bucks. If you need a new
transmission, yeah you’re looking at about forty thousand. Buying a used
supercar is kind of like playing the stock market; You could make money or you
could lose a whole chunk of change – so know the risks know what you’re getting
into and be ready for the costs.

About the Author: Michael Flood

Leave a Reply

Your email address will not be published. Required fields are marked *