[6th element]

Those with cash, what are you guys looking at getting into in the short term?

I’m in waiting for real estate to correct/drop. Being a lagging market, that’s about 12-24 months out.

Not a fan of the stock market... especially now. Too much uncertainty.

My business hasn’t been impacted much. In fact, sales have increased with more people at home.

Just trying to decide what investments would make sense in the short term besides investing in growing my brand.

That’s the million dollar question isn’t it? Especially being in Canada, our markets are relatively thin, especially exotic cars. If CAD strengthens, it would be a great time to import cars from U.S. but probably can’t happen with oil in the gutter.

Canadian dealers leverage the thin market by asking ridiculous prices for used exotics and play the waiting game. There are a few smaller independents that move cars at a lower spread.

If you have your own company that can generate returns and is recession-resistant, there is no better investment than that, at the moment. At least you have full control.


Sent from my iPhone using Tapatalk

 

[Cryptopreneur]

That’s the million dollar question isn’t it? Especially being in Canada, our markets are relatively thin, especially exotic cars. If CAD strengthens, it would be a great time to import cars from U.S. but probably can’t happen with oil in the gutter.

Canadian dealers leverage the thin market by asking ridiculous prices for used exotics and play the waiting game. There are a few smaller independents that move cars at a lower spread.

If you have your own company that can generate returns and is recession-resistant, there is no better investment than that, at the moment. At least you have full control.


Sent from my iPhone using Tapatalk

Yeah... I'm in the health & nutrition space, and it is quite a recession-proof industry. Vitamins & Supplements grew by 10% in the 2008-2009 recession. I expect it to be much more this time around as people are starting to realize Health is truly Wealth.

I had an appointment yesterday to look at a 2019 600LT. Beautiful car... really want to pull the trigger on this. However, they're asking for $299k for a model that's not optioned much. It's a consignment and apparently the owner was an older guy and the car was too raw for him. Has 1100 KMs. I don't know...

 

[noone2]

Those with cash, what are you guys looking at getting into in the short term?

I’m in waiting for real estate to correct/drop. Being a lagging market, that’s about 12-24 months out.

Not a fan of the stock market... especially now. Too much uncertainty.

My business hasn’t been impacted much. In fact, sales have increased with more people at home.

Just trying to decide what investments would make sense in the short term besides investing in growing my brand.

No comment on Canada RE market, but I wouldn't expect much of a drop in RE in the US. Think about it:

1. Interest rates super low making mortgages more affordable than ever.
2. Lending standards went way up after 2009 and so borrowers are way more reliable.
3. Prices have got up a lot meaning people have tons of equity nowadays from the low base they started with.

Even with people out of work, it's not really the people with mortgages who are the ones losing their jobs.

 

[MrLemonLaw]

Yeah... I'm in the health & nutrition space, and it is quite a recession-proof industry. Vitamins & Supplements grew by 10% in the 2008-2009 recession. I expect it to be much more this time around as people are starting to realize Health is truly Wealth.

I had an appointment yesterday to look at a 2019 600LT. Beautiful car... really want to pull the trigger on this. However, they're asking for $299k for a model that's not optioned much. It's a consignment and apparently the owner was an older guy and the car was too raw for him. Has 1100 KMs. I don't know...

Not sure about the 600LT coupe, but as of last Friday, some very well equipped 2020 600LT Spiders are out there for $220-235k USD, real-world price. Consignor sales often ask moonshot money.

 

[Firstkill]

New car smell is great but for me not the difference-maker. Suppose I wanted a second P1 in my garage, where do I go? I'd have to find one preowned right? Would you pass simply because it wasn't "new"?

obviously if you want a discontinued car your getting used.

 

[C2Spin]

Does anyone know the residual value and money factor on a 5k, 36 month lease for both the 720s Coupe and Spider. Thanks!

I was recently quoted a 63% residual on a new 2020 720S Spider at 36 mos/5,000 miles per year. Please share if you have been quoted something different.

 

[Mikey]

I can't speak on the 720s, as I honestly don't like them and wasn't in the market for one. I did however, just purchase a 295K MSRP 600LT for 192k Delivered out of state. Over 100K off MSRP and the car is only 8 months old.

 

[Cadster]

I can't speak on the 720s, as I honestly don't like them and wasn't in the market for one. I did however, just purchase a 295K MSRP 600LT for 192k Delivered out of state. Over 100K off MSRP and the car is only 8 months old.

Congrats. Tell us more. Pics. Miles.

 

[Mikey]

Congrats. Tell us more. Pics. Miles.

Thank you, I'm stoked. I also have a new NSX, so when the 600LT breaks I still have something to drive. Hahaha

I'll make a "new member" post once it arrives next week 🤗

 

[Gauhog]

I also have an NSX, a '19, a grossly underrated car. I was able to get a new car for less than $140k last year since they were taking $20k off the price if you went through Honda Financial, and they weren't really selling many cars. For a 3800 lb car its a blast and if it didn't have so much battery weight it could challenge almost everything, and everything works ALL THE TIME. But , I'm still looking for a 720.

 

[Mikey]

I also have an NSX, a '19, a grossly underrated car. I was able to get a new car for less than $140k last year since they were taking $20k off the price if you went through Honda Financial, and they weren't really selling many cars. For a 3800 lb car its a blast and if it didn't have so much battery weight it could challenge almost everything, and everything works ALL THE TIME. But , I'm still looking for a 720.

Would you trade the NSX, or 720 would be an addition?

 

[Gauhog]

Would you trade the NSX, or 720 would be an addition?

Would you trade the NSX, or 720 would be an addition?

Would you trade the NSX, or 720 would be an addition?

I would probably replace the NSX, I have a M-B daily driver so if the Mac crapped out I could still get around

 

[thackl]

Would you trade the NSX, or 720 would be an addition?

I loved my second gen NSX. With better wheels and an SOS exhaust, it looked great and actually sounded pretty good. Traded mine for a 720S last summer. No comparison. The honda is better built, but the 720 just just destroys it in performance and presence.

 

[Mikey]

I loved my second gen NSX. With better wheels and an SOS exhaust, it looked great and actually sounded pretty good. Traded mine for a 720S last summer. No comparison. The honda is better built, but the 720 just just destroys it in performance and presence.

No doubt. I'm just fortunate that I'm able to keep the NSX. I mean if someone walked up with cash I'd maybe think twice, but I do love the NSX.

 

[maroliv12]

I can't speak on the 720s, as I honestly don't like them and wasn't in the market for one. I did however, just purchase a 295K MSRP 600LT for 192k Delivered out of state. Over 100K off MSRP and the car is only 8 months old.

Dude, that is wild. What was it listed at? Ie, how much off list did you manage to get? Can't imagine it was listed at $192k. Enjoy in good health.

 

[noone2]

Not sure there will be much of a sale on cars at this point. Stock market bounce was too strong.

 

[Mikey]

Dude, that is wild. What was it listed at? Ie, how much off list did you manage to get? Can't imagine it was listed at $192k. Enjoy in good health.

Listed 239k

 

[Topcarbon]

Used McLaren 720S for Sale in Lincoln, IL - CarGurus

Save $40,908 on a used McLaren 720S near you. Search pre-owned McLaren 720S listings to find the best Lincoln, IL deals. We analyze millions of used cars daily.

www.cargurus.com

nice spec for the price

 

[Stage7]

Used McLaren 720S for Sale in Lincoln, IL - CarGurus

Save $40,908 on a used McLaren 720S near you. Search pre-owned McLaren 720S listings to find the best Lincoln, IL deals. We analyze millions of used cars daily.

www.cargurus.com

nice spec for the price

That's a lot of car for that price. I wanted and bought new when I purchased but that would have been tough to ignore if a similar deal was available then.

 

[SmokinV10]

This is anecdotal, but I recently bought a new 2020 Ram truck. GSM of the dealership is a good personal friend and we had a few lengthy conversations about how COVID-19 has affected the market. In summary the first 30 days (march through first week of April) was brutal. No sales. The "cheap" money from banks however has literally allowed him to sell most of his good inventory. Another friend of mine that runs a used car dealership has also said the same. Strong sales are back. Obviously a $70K truck isnt the same market as a $350K supercar, but I do think that the general trend is that the Mainheim auction values were artificially low. The deals may be there for now, but it doesnt look to be a permanent fixture or an indelible mark on the value of our cars.

on a somewhat related note, I read an article sayting that McLaren was putting up MTC and their Mac collection as collateral for debt. If McLaren becomes insolvent, that could spell huge problems for our values.