I don't understand the first part of your question, but for insurance it should be a problem, although it may change by state. I have a 24 year old on our policy, State Farm has you specify the main driver for each car, and my premium went down, it's currently around $1600 a year for the McLaren.

 

I was just surprised to see spiders that low considering I sold my coupe around the pandemic time for almost the same amount. Thought maybe some of the lower priced spiders had some secret bad history that people on the forums might know about.

 

Spiders are hovering around 300-380K (depending on color, options, year, milage) - they have come down slightly in the past couple months, but only by a bit.

Insurance (I have 3 kids 16-20) - you only put your (and or your wife) as primary drivers. Not your kids. Mine is around 1500 per year (5K deductible).

 

Nope, the market is coming down to pre-pandemic levels slowly but surely.

 

They might eventually get there but right now they are a LONG ways off from pre-pandemic levels. I bought my 720s pre-pandemic and new for a nice discount. The prices were much softer for new and used back then. It was nothing to see 2yr old 720s coupe’s offered at $230-$260k. All day long an everywhere you looked. Not even close to what they are now for a 2yr old coupe. $270-$320k is pretty normal. I’m not talking about the needle in the haystack...I’m talking average prices.

They’ll come down some more eventually...but they haven’t moved that much. I’m casually looking for a 675LT and they are still very strong.

 

Things are coming down but I don't think we're going to see pre-prandemic levels anytime soon. Big difference between the Great recession and now is the massive inflation. You're not going to see sub $200k 720S's or 675LT's like we did at the end of 2019 for a quite a while. Another major recession would have to come into play and massive deflation would have to kick in full gear.

 

This is a good video explaining everything. Yes car prices are tanking as we speak, if someone tells you something else they are either lying or are clueless. 765LT prices have gone down $100k in the last two months as an example. And car prices are going to continue the downward at an accelerated rate for the foreseeable future. Think of it as the 2008 housing crisis that happened with houses, is now happening with cars. Look at dealer inventory, cars are not selling, and some cars have been sitting for months and months. The days of cars going over MSRP have come to a screeching halt and are tanking as we speak.

 

I’ll have to disagree with this. Pricing is slowing down somewhat but in no way are they tanking. most cars are still selling over msrp. 765lt are still be SOLD 100-200 OVER msrp. They are dropping and not selling 200-300 over. The pricing is being lowered but they are still at least 100k over msrp. Porsche 911 has 18 month wait list (and growing) and new cars are selling with 25-35k ADM. Lambo is sold out for 2023 and are still selling for 100k over. The new MB that was just released is selling for 50k over. Ferrari F8 are still selling at 100k+ over. There is still a mass shortage of inventory and pricing is still holding strong. With that being said there are a lot of dealers that still have crazy pricing and their inventory is sitting. That may be cars on consignment or maybe they were bought too high but don’t fool yourself and think the market is tanking. I do think it will continue with a downward trend but they will still be over msrp for a while. My crystal ball (Which is usually broken) predicts it will be early to mid 2023 before we return to somewhat normal.

 

There is still a major problem in die industry that is not to be underestimated in the short term. A buddy of mine was visiting one of the board members “one of the largest car producers in the world” and his office had a nice view over 100’s of 1000’s of cars that were sitting in their massive lot missing a single chip… (interestingly they are not the same chip in every car…) and thus couldn’t be shipped to the customers. And no real short term resolution in sight. On the other hand, once those chips become available that inventory will hit the market and curious what happens then…

 

For that matter, maybe related or maybe not, I am in the market for a daily commute EV or hybrid. Very few new ones are available and all are asking $5-10k over MSRP when the MSRP is about $40-50k.

 

On top of that it’s a 6-10 month wait to order a new EV. Miss those days of walking into a dealership, having your pick of colors, negotiating a nice discount and driving off with a new car.

 

Sky isn't falling yet, but it will probably drop a lot over the next two years. I really don't believe the market for exotics suddenly expanded permanently. A lot of Covid trends have reversed and I think exotic purchasing will as well.

You're already seeing the cooling in the housing market. It's unlikely the car market is going to act so much differently.

 

Here in the UK it is easy, only football stars(soccer) drive Supercars under the age of 30. Then if you haven't had high end cars your insurance excess will slightly less than the GDP of a small country!

 

Don't put the kids on the insurance for the McLaren. If you want to let them have a drive book yourselves a track day. Go as a family outing, book a tuition driver. Then you can all gain from it. If your kids aspire to have Supercars its best they learn right, right from the start.

Ow, go for the720s performance Spider. I've got the 650s Spider & love driving it with the roof, windows & rear screen down. The most fun you can have with your clothes on!

 

reviving this thread because i'm curious of peoples thoughts 3 months from the last post.

 

Some info here:

 

this was very informative. thanks

 

I didn't buy my 720 with the thought of getting my money back. Hobbies cost money and if I couldn't afford the loss in exchange for the pleasure, I should have bought a Toyota.