fails at life Report post Posted January 15, 2018 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. Quote Share this post Link to post Share on other sites More sharing options...
Kevin2772 Report post Posted January 15, 2018 Stick with Halo Ferraris if you're going to invest in something that is generally a depreciating asset...... Quote Share this post Link to post Share on other sites More sharing options...
murcivu Report post Posted January 15, 2018 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. Quote Share this post Link to post Share on other sites More sharing options...
dtrax Report post Posted January 15, 2018 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 Quote Share this post Link to post Share on other sites More sharing options...
emanon Report post Posted January 15, 2018 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 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. Quote Share this post Link to post Share on other sites More sharing options...
The Lamba Genie Report post Posted January 15, 2018 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. Quote Share this post Link to post Share on other sites More sharing options...
LA_Brit Report post Posted January 15, 2018 no. Quote Share this post Link to post Share on other sites More sharing options...
gLA Report post Posted January 15, 2018 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 Quote Share this post Link to post Share on other sites More sharing options...
The Lamba Genie Report post Posted January 15, 2018 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!!!) Quote Share this post Link to post Share on other sites More sharing options...
fails at life Report post Posted January 15, 2018 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. Quote Share this post Link to post Share on other sites More sharing options...
Fortis Report post Posted January 15, 2018 Quote Share this post Link to post Share on other sites More sharing options...
oufan2929 Report post Posted January 15, 2018 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 Quote Share this post Link to post Share on other sites More sharing options...
oufan2929 Report post Posted January 15, 2018 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? Quote Share this post Link to post Share on other sites More sharing options...
gLA Report post Posted January 15, 2018 Mentor? Quote Share this post Link to post Share on other sites More sharing options...
CHADW Report post Posted January 16, 2018 Come on guys, you didn’t need the second post to know he is a troll... Quote Share this post Link to post Share on other sites More sharing options...
The Lamba Genie Report post Posted January 16, 2018 Come on guys, you didn't need the second post to know he is a troll... Of course not, but a few more questions and we can determine whether he's in grade, middle, or high school. Quote Share this post Link to post Share on other sites More sharing options...
Destructo Report post Posted January 16, 2018 No way. The MC-12 is a WAY stronger investment! Especially its performance figures. Quote Share this post Link to post Share on other sites More sharing options...
CHADW Report post Posted January 16, 2018 Of course not, but a few more questions and we can determine whether he's in grade, middle, or high school. Middle. Quote Share this post Link to post Share on other sites More sharing options...
LPDADDY Report post Posted January 16, 2018 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 ? Quote Share this post Link to post Share on other sites More sharing options...
The Lamba Genie Report post Posted January 16, 2018 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. Quote Share this post Link to post Share on other sites More sharing options...
Fortis Report post Posted January 16, 2018 Of course not, but a few more questions and we can determine whether he's in grade, middle, or high school. Always an influx during school holidays. Quote Share this post Link to post Share on other sites More sharing options...
Fortis Report post Posted January 16, 2018 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? Quote Share this post Link to post Share on other sites More sharing options...
The Lamba Genie Report post Posted January 16, 2018 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. Quote Share this post Link to post Share on other sites More sharing options...
Fortis Report post Posted January 16, 2018 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. Quote Share this post Link to post Share on other sites More sharing options...
porter Report post Posted January 16, 2018 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... Quote Share this post Link to post Share on other sites More sharing options...
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