Performance Car Values - They Be Crashing

[Housey]

I’ve been watching the market for the last six months and I’m now able to call it (don’t take my word for it though, I’m often wrong). High value sports cars are dropping like stones, some brands are in free fall.

Take the McLaren 570S. Six weeks ago, the base level for this car was a strong 130k. About four weeks back that became 110k and today I know of cars in dealers for low 90k! That is some drop. GT3/GT4 are now below list and I suspect will be dropping Q1 to make them sensible again and Aston, Ferrari and others are all heading down outside the low volume high value stuff.

I think a cheeky 80 something bid will get you into a MK2 R8 Plus too and suspect M cars and AMG’s will be on their way down. The market has topped and is now finally heading south. You heard it here last!

(All of this might be wrong, please take with a pinch of salt but the chatter seems to support it this time!)

 

[kindai]

Off to see a gt4 on Tuesday, certainly wont be offering the 80k its listed for.

 

[Django x2]

It's the classics that are holding and raising, the last of the good hot hatches are investment worthy options, and in time, some of these current models will.

Saw a Nova SR vanish for £6500 the other week. It was 100% immaculate though

 

[Housey]

Off to see a gt4 on Tuesday, certainly wont be offering the 80k its listed for.

Bid them in the balls!

 

[ScoobyDoo69]

I feel like this happened about 6ish years ago too before the latest generation of performance cars were released and things suddenly starting holding value again.

I suppose if things don't sell, the prices have to fall!

 

[kindai]

Bid them in the balls!

As its the clubsport and has pccb brakes I was gonna go 75k, but its got some miles on it, 16k miles, may offer then a cheeky 70k.

 

[Nasher]

This is the worst time of year for car sales. Especially sports cars.

 

[Housey]

This is the worst time of year for car sales. Especially sports cars.

That is true and always the best time to buy but this year is very different

 

[Housey]

As its the clubsport and has pccb brakes I was gonna go 75k, but its got some miles on it, 16k miles, may offer then a cheeky 70k.

If you’re a cash buyer and ready to go tell them that. They may not cave on the day or at all, but the following week will tell you that and if they call you back.

 

[Housey]

I feel like this happened about 6ish years ago too before the latest generation of performance cars were released and things suddenly starting holding value again.

I suppose if things don't sell, the prices have to fall!

Lots of people been calling it for 2+ years but they have remained firm and I am told at the serious end still are. But the entry level supercar / proper sports car and suspect Uber saloons are bathing

 

[Gibbo]

As you know I've also been monitoring values of the 570S, GT3 and 458, as one of those is a likely SVR replacement maybe next year.

When I started looking over a month ago a 570S was around 115-125k. Then a couple of weeks ago they were coming just under 110k, now courtesy of yourself there is one for sale at just 95k.
Also even the 720S is on my radar, as potential budget for next car is 150k, the 720S was 230-250k six months ago, today they are 175k upwards, the values has collapsed and I feel in 6-9 months a 720S will be in the 130-160k region, so also affordable.

GT3 again when I was looking was 105-125k for a 991.1 and a 991.2 was 165-185k. I am now seeing 991.1's at 95k and a few under 100k and 991.2's around 140-160k. Values are collapsing.

The 458 has more stability, but they are come down from around 140k starting price to around 125-130k price.

Also my car, Jaguar offered me 72.5k buy back a few months back, that offer is now 66k, so everything is being impacted thats a high-end / supercar, its only old stuff. Even M3 CSL's have been hit, can get into one for 40k if you look hard enough!


I am just going to wait this time next year I will have pretty much 100k cash in hand, so I can just pounce if I fancy something or just stick with the current stable mates.

Prices are certainly heading in the right direction for the good stuff, only the ultra exotic and rare will hold pricing, but that stuff is 300k plus and I am not looking there.

 

[Housey]

I’d expect low 50 bids on mine right now too. I will sell private and if I can get into 60’s then I’ll be happy as Larry

 

[Gibbo]

I’d expect low 50 bids on mine right now too. I will sell private and if I can get into 60’s then I’ll be happy as Larry

Yeah it is what it is, I'm making no decision until I've got behind the wheel of the 570S, GT3 and 458. The 570S is generally the favourite though to be honest, but of course none of them will probably be quite as good as daily and so easy to use like the SVR is, a little like your R8 in that respect, but a Mclaren for me is certainly more special, even though it does sound pretty rubbish.

Was even tempted to let go of M3 for 25k, but makes no sense to let it go, plus I've just spent another £5000 on it, new wheels, new seats and might be gonna wrap it as I am fedup of three blue cars.

 

[Gibbo]

Off to see a gt4 on Tuesday, certainly wont be offering the 80k its listed for.

Not when you can get a GT3 for 15k more!

 

[kindai]

Dave is currently looking at a vat qualifying 2017 gt3 at 150k, as hes got his walking stick he is vat exempt, lucky bugger gonna be getting 30k off the price!

 

[Maccy]

This is good news, as I'm looking at something special for next car (still), hopefully Q1 2019.

 

[Gibbo]

This is good news, as I'm looking at something special for next car (still), hopefully Q1 2019.

I'd say any car over 80k now, you will get for 20k less when your ready! I absolutely believe a 570S will drop to around 80k middle next year as I just feel Mclaren will take the biggest bath, right now there is 150 plus 570S for sale, they have made and sold way too many, next year they will release another 4--6 models no doubt which will also impact values even further.

The 991.1 GT3's will get cheap too due to the engine issue, but buy with extended warranty and check forums, you should be fine.

I think Ferrari values might hold better, a 360 is 60k plus, a 430 is 80k plus, so I can see 458's not coming down much, unless the cars beneath drop a lot, I can see the 488 taking somewhat of a bath though, simply because its no longer NA and the 458 is the last NA Ferrari and they are a properly sorted road car and sound incredible, which is my attraction, but Ferrari running cost even on a more reliable one could be eye watering. The F430 is my favourite looks wise, but I know it would be a massive downgrade over the SVR, so if I go Fezza than its need be a 458.

I've been speaking with Mclaren Birmingham (Rybrook) and though the running cost are in a different league to the SVR, they are not so bad:
Warranty per year on a 570S: £3000 (of course you will get 1-2yr buying used, so only a cost if you keep it beyond warranty)
Yearly service: £1200 which I thought was cheap.
Battery replacement: £3000 (not covered by warranty), which I think is a joke!


In short running a Mclaren 570S out of warranty, budget £500 per month for servicing/warranty and if the battery does fail, lube up, but I was pleasantly surprised as that is easily affordable.
A GT3 is a little less by comparison for warranty and servicing, plus no stupid battery prices!

Ferrari, I've not been brave enough to speak with them yet, but I am gonna guess they have different servicing cost, chain/belts etc and suspect the service probably starts at £2000 and probably goes as high as £6000. I suspect warranty would also be around £5000 a year, so ideally with a Ferrari budget £1000 a month for servicing/warranty cost.


Of course fuel, insurance, modifications would be all on top, so its easy to spend thousands per month if your not careful.
Absolutely go in eyes open if considering a supercar ownership, some will surprise you how cheap they are but some can be eye watering.

 

[kindai]

Absolutely go in eyes open if considering a supercar ownership, some will surprise you how cheap they are but some can be eye watering.

Yup, we are currently in a lovely little "cheap to run" bracket. GTR ~175 a month. SVR ~100 a month. Going to the next level of car also means the next level of maintenance...

 

[Maccy]

Hmm that's interesting, thanks @Gibbo. Was initially looking at 997.2 911's, but if they're going to drop then it could put me into 991.1 territory...

 

[Gibbo]

Hmm that's interesting, thanks @Gibbo. Was initially looking at 997.2 911's, but if they're going to drop then it could put me into 991.1 territory...

Porsche running cost to be fair are cheap, a GT3 service for a minor will be under a grand, a major around a grand, they are either yearly or every two year. Plus most OPC's will also discount their fixed price servicing by at least 10% if you ask, I used to get 15-20% off when I owned my 911.
Warranty pricing, well every OPC used car has 2yr warranty, so always buy OPC or a car with the warranty package via OPC, worth its weight in gold and it covers the car as if it was brand new, Porsche service like Jaguar was always fantastic and any warranty claim was handled with zero fuss and they give you pretty much cars of your choice as courtesy.

So if your going Pork, no need to worry, you shall be fine mate, in most cases they cost less than a BMW M car to run and service, plus they are in another league of ability and fun.