McLaren Depreciation 12-C: a nightmare- werewolf? | Page 20 | FerrariChat

McLaren Depreciation 12-C: a nightmare- werewolf?

Discussion in 'British' started by x z8, Oct 8, 2013.

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  1. frefan

    frefan F1 Veteran

    Apr 21, 2004
    7,370
    +1

    the only thing I liked better on the 458 is the sound and transmission. everything else the 12c does better

    the kiss of death for the 458 spyder is I got use to the stiff 12c chassis. the 458 spyder looked great but was not enjoyable to drive on anything other than a straight line

    the 2014 12c spider infotainment system is awesome -- it totally addresses the only minor complaints I had with the 2012 12c
     
  2. SlowV8

    SlowV8 Karting
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    #477 SlowV8, Nov 28, 2013
    Last edited: Nov 28, 2013
    It's called herding. People will make decisions based on what everyone else in the herd is doing or approves of. You can see this concept at work everywhere from the stock market, to real estate etc. People do what other people are doing because its perceived to be safe and correct. Hence why they always need "expert opinion" and approval from the rest of their counterparts. This stems from the fact that not too long ago people had to rely on groups in order to survive. That trait has continued on today but has manifested itself in many different ways. Take Ferrari, people buy rosso corsa only because its the "safe" thing to do, regardless if its really their preference or not, infact they probably don't even know what their own preference would be if they didn't allude to the group. People like Ferrari because that is what everyone likes. Plain and simple.

    Herd mentality also explains why it is very difficult for new ideas or new products to enter a market. Even superior products may not be what the consensus feels to be superior. You'll get nonsense entirely subjective statements such as "but it has a soul, emotion" How can a car have a soul in the first place? It's dead. Herds also do not like it when someone questions or disagrees with the decision. Since their own choice was dependent but not independent they begin to freak out. You can see that in action on this forum and mclaren life. Two groups of chimpanzee's meeting at opposite ends of a watering hole hooting and hollering at each other.

    In a population you will have a tiny % who decide to break away from the herd and effectively be independent. These guys will take advantage of the primitive thinking habit and go against the consensus. They tend to be 0.01% and be filthy rich etc. In many cases they actually end up deciding what the majority should be herding around.

    By the way the majority of cars that "expert opinion" validated are now long forgotten.
     
  3. Russell996

    Russell996 Formula 3

    Sep 24, 2010
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    What a load of BULL!
     
  4. nexlogic

    nexlogic Karting

    Apr 26, 2012
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    #479 nexlogic, Nov 28, 2013
    Last edited by a moderator: Sep 7, 2017
    Just picked up 2014 MP4-12C Spider. Selling my 2013 458 Titanium (it's in the classifieds). Sorry but I think someone is insecure about their 458 Spidey purchase.
    Image Unavailable, Please Login
     
  5. kverges

    kverges F1 Rookie

    Nov 18, 2003
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    Moooooo! FOURZUH FURRERI! And Eat More Chickin! Fortunately, Honey Badgers don't herd.
     
  6. MarkNC

    MarkNC Formula Junior
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    May 22, 2012
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    The problem is that EVO doesn't have a long-term Ferrari 458 to compare it against. Put that reviewer back in the 458 for a day and he will probably be more appreciative of the McLaren!

    My gut feel (owning both cars) is that over the long term most people who own both will gravitate to the McLaren and end up enjoying it more. It's hard to put into words exactly why but I think the super-stuff chassis, that makes everything work so well and feel so solid, is probably the one of the key reasons but I suspect the transmission! and higher level of performance are also reason to love the Mac.

    When I drive my McLaren for a few days and then switch to the Ferrari it feels like someone loosened all the bolts in the Ferrari. It just feels a little cheap compared to the McLaren. It's time for Ferrari to embrace a carbon fiber chassis in their 458 replacement. If Alfa can do it for so cheap then Ferrari should be doing it too.

    I can't wait to see what McLaren will do with a replacement for the 12C. I imagine they'll make changes that address the editorial nonsense while also kicking the performance up another notch. Personally I find it a very exciting car to drive.

    But either way they're both great cars and if you're lucky to have either then consider yourself very fortunate,
     
  7. MarkNC

    MarkNC Formula Junior
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    May 22, 2012
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    Gorgeous car! Congrats!
     
  8. x z8

    x z8 Formula 3

    Nov 22, 2009
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    Jeffrey
    +458

    Sour grapes?

    I'm sure the 12-C is preferable to some, as we see here.

    Having owned sports cars of numerous makes for 33 consecutive years I can say that I understand the subjective attributes that the experts site. I have owned prior cars that have been previously evaluated. I understand what they mean. I get it. Others don't, or enjoy different things.

    I am not following the crowd. Not that there's anything wrong with that when the crowd is right.

    Experts can be wrong, and in rare instances they can all be wrong. But for my money, I'm making the smart bet.

    During my two year wait I considered getting a MAC. In fact I even considered the car that started this thread. At some discount or substantial discount the MAC is a better value. But I concluded that I did not want to compromise. I wanted the unique experience that the 458 delivers.

    If I don't like my new 458 spider I can get out for cost because Ferrari manages supply and demand so well, unlike the MAC.

    In its class the 458 is considered THE super car of its day. Those that pan it are obviously transparent.

    Buy what you like, but when you can only afford one... Make the right choice.
     
  9. noone1

    noone1 F1 Rookie
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    Good luck with that. You missed the drive for free boat. 48 coupes on eBay and already 27 spiders, and you haven't even got the car yet, and it's winter. Don't forget the $20K in sales tax unless you traded even.

    If you keep that car a year and drive a few thousand miles, I bet you'll be $50K down if you try to get rid of it.

    Speciale is almost out, 458 is in it's 4th or what is probably a 5 year life. It's the super car of the day... until 6 months when the Gallardo gets delivered and crushes it, and 6 months later when the 458 replacement breaks cover, and 6 months later when the R8 breaks cover. The 458 was the super car of the day. You're about 4 years late on that one and haven't even taken delivery yet.
     
  10. x z8

    x z8 Formula 3

    Nov 22, 2009
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    Wrong! I am taking delivery of the Spider. A new 2014 can get me out financially just fine. And yes, I traded in, and I expect to be happy and to keep it many years. And yes, I expect it to depreciate. But it's nice knowing that in the unlikely event that I wanted out, or needed out... It would be painless in the beginning. The benefits of the marque.

    Oh, and as far as winter... I'm in Florida where winter is our summer. In other words, peak season!

    The MAC is a great car. Enjoy. The consensus outside of a few vocal MAC owners here is that the 458 is THE car of its class.

    Buy what you like...
     
  11. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    19,255
    whats a 2012 with the update and 5500 miles worth?

    170?
     
  12. diSCUDsted

    diSCUDsted Formula Junior

    Feb 23, 2010
    997
    ILLinois
    #487 diSCUDsted, Nov 28, 2013
    Last edited: Nov 28, 2013
    Depends on the total msrp the car had. Doubt even a low optioned car ($260-270k) can be bought retail at $170k right now.

    It really is a shame that such an incredible car is tanking in value so soon like this.
     
  13. x z8

    x z8 Formula 3

    Nov 22, 2009
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    2012 12-C MAC, MSRP $292K, $3K miles, Asking $187k

    Never titled!

    Cars.com

    3 listed under $190k

    Great value for the used car buyer but there's always the risk that a new fledging car company such as McLaren won't make it creating a parts and servicing problem. In that case, further deep depreciation would likely occur. Still a risky proposition IMO.

    Of course in 50+ years it could be a collectible and start to appreciate.

    Buy what you like and buyer beware.
     
  14. MarkNC

    MarkNC Formula Junior
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    May 22, 2012
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    I think that's true. The consensus definitely favors the 458. But the consensus is mainly a consensus of people who own neither.

    I think most people who own both either slightly favor the Mac or call it even. I don't know any people who own both and outright favor the Ferrari. I'm sure there are some but the people I know who own/owned both seem to all favor the Mac. Personally I love both but I've come to the conclusion that I slightly favor the Mac for a few reasons: performance, transmission, chassis, suspension, and interior layout/quality/comfort.

    But my point in contributing to the thread is to offset the bias I see here against the McLaren and give a more rounded and considered comparison of the two cars.
     
  15. MarkNC

    MarkNC Formula Junior
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    #490 MarkNC, Nov 28, 2013
    Last edited: Nov 28, 2013
    It isn't nice trying to scare people away from McLaren. McLaren isn't going anywhere. The McLaren group of companies been around for 50 years. They're well-funded, financially stable and have a 20 year history of taking care of their road cars going back to the F1 from 1993. They keep 50 year old race cars running as well.
     
  16. x z8

    x z8 Formula 3

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    #491 x z8, Nov 28, 2013
    Last edited: Nov 28, 2013
    I think you are being honest and sincere. You prefer the MAC. Nothing wrong with that. There are a lot of subjective factors at play and different people value different criteria more. Some only value speed and cannot comprehend other attributes.

    You are in a very special class to be fortunate to own both. I also must be thankful (it is turkey day) in that I own two 2012 Boxster Spiders (one for the wife because I couldn't keep her hands off mine). They are an incredible, light weight, perfect handling, rock solid reliable, sound great with the sport exhaust, great looking, and rare for about $70k. For me, I cannot imagine more bang for the buck.

    Happy Thanksgiving! We are very fortunate to be in a position to have this debate and drive such exciting rides.
     
  17. MarkNC

    MarkNC Formula Junior
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    That's a pretty big backtrack from the prior post where you said you could "get out of it for cost" - which, by the way, you probably won't be able to if you're still waiting for delivery. That might have been true 6 months ago but now 458 Spiders are no longer trading very much above list in the USA. Those days are gone and every month they're dropping more as more inventory comes into the system. That's not to say you'll lose a lot of money relative to the price of the car, if you sell it quickly with very low miles, but there's no point to buying the car if you're not going to drive it.

    And when I say "relative to the price of the car", by my estimate, you should expect to lose at least $75k off MSRP on a 458 Spider 18 months from now - not counting tax and commission where applicable. In the grand scheme of things that's not a huge loss (25%) on a $300K+ car.
     
  18. MarkNC

    MarkNC Formula Junior
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    Yes I totally agree with you on this point and I hope I'm not coming off as too confrontational because that's not what I'm trying to do but rather keep it to facts and well-considered opinions. Happy Thanksgiving.

    You're going to love your 458 Spider. It's a great car. I definitely love mine and when I say I favor the Mac, it is still a pretty slight difference. I certainly don't favor it enough to sell the 458 Spider which I expect to keep and one day trade on its replacement.
     
  19. x z8

    x z8 Formula 3

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    #494 x z8, Nov 28, 2013
    Last edited: Nov 28, 2013
    My apologies. I probably overstated the risk. But, McLaren is privately held and lost millions in 2013. They also failed to achieve one podium finish in the most recent entire season of formula 1. They are new to the commercial car business (f-1 does not apply) with the 12-c marking their entrance and are off to a shaky start as demonstrated by the over production of the coupes. I may have over stated/ implied the risks but they are trying to break into a very difficult business where newcomers frequently fail. Their success is not assured and they are a far riskier venture than that of Ferrari whom is widely profitable and has been for a long stretch of time. Of course the automotive world is a better place with McLaren and consumers are certainly a benefactor of the additional competition.
     
  20. x z8

    x z8 Formula 3

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    My car is 1- 2 weeks away from delivery. Therefore, I will have a window to get out around cost as new spiders are still selling for over list. Of course I am expecting to be thrilled and will likely own this much longer than the average Ferrari owner. Therefore, I expect normal V8 Ferrari depreciation. I have never flipped these cars and I don't expect to start now.
     
  21. MarkNC

    MarkNC Formula Junior
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    And you still are!

    So did Google and Amazon when they were McLaren's Automotive's age and they lost money (a great deal more of it) for much longer than McLaren is expected to. McLaren already announced they expect to break even this coming year. This is how investment-backed companies get started. In addition their principle owners are extremely financially solid.

    Which means next-to-nothing in terms of their finances. The Concorde agreement pretty-much guarantees McLaren profit from their racing operations regardless of where they finish on the podium. Same is true for Ferrari.

    I disagree with your "shaky start" assessment or that they made too many cars. They had some growing pains but they've handled them extremely well. Remember all the 458s that caught on fire in the first year? Ferrari had a recall for that. None of that should be offered to discourage people from buying McLaren cars. Look at the amazing reviews of the P1. They're doing a great job these days. I think they're going to do some really impressive things over the next few years.

    That's nonsense. McLaren has been around for 50 years and they built their first road car in 1993. They're still supporting it extremely well today. One visit to the McLaren Technology Center would rid you of this crazy notion that there's much risk in what they're doing.

    That's really over-reaching. The same could be said of Apple and Google at one point in their development. In the meantime Ferrari is owned by Fiat who is fairly stable at the moment but hasn't always been. One could easily take the viewpoint that McLaren, as a smaller company backed by extremely well-funded owners, is more stable than a giant public industrial company like Fiat. It isn't without irony that their plan to become the 7th largest car company involves buying out a formerly-bankrupt US car company :)

    Agreed.
     
  22. x z8

    x z8 Formula 3

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    MarkNC:

    1st off comparing a software/ technology company like Google or Amazon to a car company to make a point regarding profitability is not a reasonable stretch. Technology scales really well and even more so when the software acts as a platform. Tesla is the only current automotive story that may transform the automotive business. McLaren is no Tesla.

    Secondly, producing 106 F1 cars in total from the years 1992–1998 hardly qualifies as a commercial car company. The 12-C is the first real attempt to crack into the mainstream business of selling cars. It's actually an incredibly good first attempt. But it is and remains a long shot. It is the nature of the automotive industry. Tucker, Delorean, Fisker?

    Finally, McLaren has not been around for 50 years commercially building cars. I've been around for more than 50 years. That doesn't make me likely to succeed at it either! :)
     
  23. x z8

    x z8 Formula 3

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    From Automotive News: December 2010

    LOS ANGELES -- Henrik Fisker knows what you're thinking. You're thinking that nobody starts a car company in America and succeeds. Not John DeLorean and his gull-winged sports car. Not Preston Tucker with his clever road-tracking headlights.

    "I know what people are saying," says Fisker, blond and youthful at 47, over a plate of venison in a dark Los Angeles restaurant. "Very few people believed that we were going to make it.

    "I get the question all the time: Can you really succeed? You can't blame anyone for asking it because, frankly, no one has succeeded.

    For starters, who could have anticipated that just as Fisker was wishing he could find an East Coast manufacturing plant to build his cars, GM would plunge into bankruptcy and offer him its Wilmington, Del., plant for a mere $20 million?

    Or even more implausible, who could have guessed that just as Fisker and his partners were tallying up the enormous capital outlays needed to develop and manufacture a family of new $90,000 and $50,000 luxury cars, the U.S. Department of Energy would award them low-interest loans totaling $528 million?

    Those funds, plus a few hundred million more in private funding -- $115 million came in last month -- are enough to get Fisker Automotive started, CEO Fisker says.

    "Not many car companies have started up with a billion dollars in cash," he says, taking a sip of wine.

    And on Nov 25th, 2013: GIGAOM

    Beleaguered electric car maker Fisker Automotive finally filed for bankruptcy late on Friday, many months after expected, and over a year since it made its last car. While the bankruptcy has been expected for a long time, this is one of the first times the public has been able to see Fisker’s very long list of creditors — 669 pages long, with an estimated 5,000 to 10,000 creditors.

    Creditors are individuals and companies to which Fisker owes money, so the list includes vendors as well as investors. It could also include people that put down deposits for cars and never received a car, or people who bought a car from Fisker and for whatever reason are still owed money. At this point it’s hard to tell which creditors are involved with what part of the business and for how much, but what we do know is that there are a lot of well-known names on that creditor list.

    Don't be fooled. The risks are real.
     
  24. x z8

    x z8 Formula 3

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    Fisker Karma prices tanking on used market - Autoblog

    May 2013
    Fisker Karma prices tanking:

    Buying into a new, fledgling automaker is always a big risk – the early-adopter upside has the potential to be great, but the downside can look like the mother of all hangovers. Unsurprisingly, that's the unpleasant financial reality facing Fisker Karma owners as they look to unload their extended-range electric sedans while the company's future bleakens.

    ....Now, however, there's a bumper crop of Fisker models on the used market, with NBC News and Business Insider reporting that pre-owned examples are trading for under half their six-digit MSRPs just one year ago. Around 2,500 Karmas were made, and eBay Motors is playing host to 26 of them alone as this piece is being written. Scan over to AOL Autos' listings, and there are 126 entries.

    No surprise, then, that Karma owners are looking to unload their models, likely fearing not only for their vehicles' resale values, but also the continued availability of parts and service.
     
  25. noone1

    noone1 F1 Rookie
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    McLaren is far more likely to be acquired then go bankrupt. They're already selling nearly as many cars as Lamborghini. They have a lot of experience and technology that is worth quite a bit believe it or not. After all, their first volume car wiped the floor with just about everything. Their brand also has a lot of value.

    There are lots of buyers for McLaren assets if it ever came down to it.

    Could a 12C be expensive/hard to service years from now? Maybe, but so are all out of production and out of warranty exotic cars. It's not like a 458 gearbox is going to be cheap 5 years from now.
     

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