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Is P1 a good investment?


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So now I see quite a few P1's going for $2.3M - $2.7M, what do you guys think? Is it a good investment? I would likely never drive it or maybe only put 100 miles on it, if I bought it. So it would be more like an investment of 5 years. Is there potential for this car to reach $5M in the near future? The reason I question the value is because of the 720s, which is nearly as quick for only $330,000. It just doesn't look good for the P1.

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For $2+mil, you're better off investing in real estate. At least the returns are more favorable than that of a car...except for the obvious but usually unobtainable ones.

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My worry with these cars is that the maintenance costs going forward might be crazy

 

I imagine that almost all P1s are at the end of their warranty periods

I have friends with the cars who have had massive warranty claims on the engines, battery and suspensions

 

Who knows what Mclaren will charge you going forward

 

Whats more all the cars will just be replaced by the next super hybrid car in a year or so

 

Personally I would put the money in 275, F40, F50, Miura, Countach etc - in time people will get bored on the current stuff but the older cars will be treated more like art imo

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My worry with these cars is that the maintenance costs going forward might be crazy

 

I imagine that almost all P1s are at the end of their warranty periods

I have friends with the cars who have had massive warranty claims on the engines, battery and suspensions

 

Who knows what Mclaren will charge you going forward

 

Whats more all the cars will just be replaced by the next super hybrid car in a year or so

 

Personally I would put the money in 275, F40, F50, Miura, Countach etc - in time people will get bored on the current stuff but the older cars will be treated more like art imo

 

:iamwithstupid:

 

IMO If you aren't on 'the list' to buy a new Ferrari at list and flip it (LaF Aperta level car) I wouldn't consider any new car investment worthy.

 

If you were on those lists you wouldn't be asking here.

 

PS, post some pics of your collection.

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So now I see quite a few P1's going for $2.3M - $2.7M, what do you guys think? Is it a good investment? I would likely never drive it or maybe only put 100 miles on it, if I bought it. So it would be more like an investment of 5 years. Is there potential for this car to reach $5M in the near future? The reason I question the value is because of the 720s, which is nearly as quick for only $330,000. It just doesn't look good for the P1.

 

720S prices/performance won't affect P1 at all. That you would even think so means you don't know this league of car and should not be investing in it. Try cryptocurrency, I hear it's highly lucrative.

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For $2+mil, you're better off investing in real estate. At least the returns are more favorable than that of a car...except for the obvious but usually unobtainable ones.

 

this

 

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For $2+mil, you're better off investing in real estate. At least the returns are more favorable than that of a car...except for the obvious but usually unobtainable ones.

 

This so much.

(except Bitcoins of course!!!)

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thanks for the input. For real estate there are property tax I would have to pay each year and upkeep. I already have a few industrial buildings and my house is paid off. I would like a Ferrari halo cars but I see them as unattainable or just over my price range. F40, out of my league. F50 out of my league. Enzo, possibly but they are not cheap right now around $3M+? Which is close to the price of a ThethetheFerrari. My mentor told me that these prices are too high right now, but I think the dollar really took a hit these past 7 years.

 

I guess I will just lurk around and wait for a deal.

 

The prices I am basing off is from Ilusso in Costa Mesa.

 

 

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720S prices/performance won't affect P1 at all. That you would even think so means you don't know this league of car and should not be investing in it. Try cryptocurrency, I hear it's highly lucrative.

 

This

 

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thanks for the input. For real estate there are property tax I would have to pay each year and upkeep. I already have a few industrial buildings and my house is paid off. I would like a Ferrari halo cars but I see them as unattainable or just over my price range. F40, out of my league. F50 out of my league. Enzo, possibly but they are not cheap right now around $3M+? Which is close to the price of a ThethetheFerrari. My mentor told me that these prices are too high right now, but I think the dollar really took a hit these past 7 years.

 

I guess I will just lurk around and wait for a deal.

 

The prices I am basing off is from Ilusso in Costa Mesa.

 

Lol, you can buy 2 F40's for under 2.7mil right now (top of your P1 budget)... You really have no clue do you?

 

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Guys

 

Correct me if I am wrong , theoretically , is there not capital gains tax on a car in the US if you sell it at a profit ?

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Middle.

My first guess as well.

 

Guys

 

Correct me if I am wrong , theoretically , is there not capital gains tax on a car in the US if you sell it at a profit ?

IIRC, it's not theoretical, if you make money on anything in the US: watch, car, painting, home, etc, there is a capital gain. Most cars never gain value, so it isn't an issue. The rest of it, how much % tax, whether the IRS would actually find out if it's a pp transaction, well I'll leave that to imagination.

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Of course not, but a few more questions and we can determine whether he's in grade, middle, or high school. :icon_mrgreen:

 

Always an influx during school holidays.

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My first guess as well.

 

 

IIRC, it's not theoretical, if you make money on anything in the US: watch, car, painting, home, etc, there is a capital gain. Most cars never gain value, so it isn't an issue. The rest of it, how much % tax, whether the IRS would actually find out if it's a pp transaction, well I'll leave that to imagination.

 

Can you claim costs and/or losses?

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Always an influx during school holidays.
No doubt.

 

 

Can you claim costs and/or losses?
My understanding is yes, if the buying and selling of cars is your business. If not, then only the gain itself, but presumably some associated costs could be added to your basis. Example, you are not a car dealer, but have an old Porsche in the barn you heard is now worth $1M. Your cost basis is $5K, but it costs you $95K to restore it, for some reason this model is not valuable as a barn find but is worth good money as a turnkey. I believe that $95K becomes part of your cost. But the same cannot be said if you had driven it all those years, and your gas and maintenance totaled the same $95K.

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No doubt.

 

 

My understanding is yes, if the buying and selling of cars is your business. If not, then only the gain itself, but presumably some associated costs could be added to your basis. Example, you are not a car dealer, but have an old Porsche in the barn you heard is now worth $1M. Your cost basis is $5K, but it costs you $95K to restore it, for some reason this model is not valuable as a barn find but is worth good money as a turnkey. I believe that $95K becomes part of your cost. But the same cannot be said if you had driven it all those years, and your gas and maintenance totaled the same $95K.

 

Then it is highly unfair to be charged a capital gain, you should be able to claim expenses if you must pay a gain.

 

You pay tax you must be able to claim expenses.

You don’t pay tax you can’t claim expenses and or losses, it is logical.

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So now I see quite a few P1's going for $2.3M - $2.7M, what do you guys think? Is it a good investment? I would likely never drive it or maybe only put 100 miles on it, if I bought it. So it would be more like an investment of 5 years. Is there potential for this car to reach $5M in the near future? The reason I question the value is because of the 720s, which is nearly as quick for only $330,000. It just doesn't look good for the P1.

 

 

You're the one that bought a Huracan by mistake while you were on meds, aren't you? Stop jerking around, final warning...

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