How To Buy A Supercar
It may take a big win in the Euro Millions lottery, but let's face it, given the opportunity we'd all quite happily bag ourselves a supercar. The question is where do you start? Vijay Pattni takes on the enviable task.
If buying a supercar was easy we'd all be doing it, but that is the point, isn't it, no one actually wants supercar ownership to be easy?
Before you even start you're going to need between £25,000 to £1,400,000 on tap, not to mention up to £56,000 spare for ownership costs each year. You won't want to keep your ride and joy out on the street, so you'd better grab yourself some accommodation with off street parking too.
Finally, if you're the shy type, a supercar is simply not for you – people will hear you coming.
Research
Before buying a supercar, it's worth knowing how much it will cost to run. Prices vary depending on the make and model - it costs £2,520 to fully service a Pagani Zonda S, but a Bugatti Veyron will set you back £13,645 per year.
You'll definitely want fully comprehensive car insurance - we ran a check for an Audi R8 supercar for a 30-year-old with a 12 years protected no claims discount and it cost £761. However for a 23-year-old the cheapest annual quote was £4,996.70.
Most supercars will emit more than 255g/km of CO2, placing them into the highest tax group - band M - at £405 per year.
As far as fuel consumption goes, consider anything over 20mpg impressive. A Lamborghini Murcielago LP640 will deliver an average fuel economy of 13.3mpg.
A supercar can increase or lose value at an alarming rate. The Mercedes SLR McLaren costs £313,465 new, and a four-year-old model costs £150,000 with 12,000 miles on the clock. A red Ferrari Enzo costs £450,000 new - and a mint condition Enzo with low mileage is now worth around £700,000. This is because Ferrari claims only 400 were made.
Replacing parts can be a costly business too. A Porsche Carrera GT costs £5,500. And a new indicator stalk in a Bugatti Veyron is worth £4,500. This is without labour fees, which can cost over £6,000 alone.
Before you buy
Join an owner's club. Getting advice from real owners is essential to find out any problems certain supercars have.
Search for a car online and once you've found a car you like, phone the seller or dealership and ask them some questions about the cars condition and history – has the car been in use? Supercars in storage may look nice but could have missed services, so avoid being tempted by a low mileage.
What's its history? Get a vehicle check to see if it's been scrapped, stolen, written off or has outstanding finance. It's also essential that you actually find our what the car is worth. Check its current price with a Glass's valuation.
The viewing
Ask a friend or relative to accompany you. They might spot any potential problems which can be easy to miss. Keep an eye open for signs of crash damage and check everything works as it should and the VIN number to ensure the car isn't a clone.
Take the car for a test drive. Make sure you feel comfortable, use all the gears and ensure the electrics are working - this is a major cause of supercar breakdowns.
Make sure the car's mileage tallies with MOT certificates and service history. The MOT certificate should be printed by computer or embossed with the test station's stamp Check the service history is up-to-date and the V5C document is legitimate.
Unless you're haggling for a mass-produced 90's supercar from a private buyer, supercar sellers will not usually accept offers - especially dealers.
Avoid carrying around large sums of cash - you can pay the seller in a bank or a dealership by card if you decide to buy. Ask the seller to write two receipts stating the date, amount paid, make, model and registration number, along with the names, addresses and signatures of both parties.
