November 14, 2015 3:37 PM |
Posted By: Secret Supercar Owner
Rated 5.0 out of 5.0 by 1 member
Given where the car market is these days, one question that comes up often is are there any good buys left. There are, you just have to look really hard and have a bit of patience. The other question is what do you think is overvalued. On the first, three that come to mind are the Aston Martin DBS, Ferrari 599 GTB, & the TVR Griffith. Both the DBS & 599 GTB are ageing quite well, and the Griff has been an icon for quite some time. Three that come to mind on the over-valued side these days are the Porsche Carrera GT, Ferrari 308, & the Lamborghini Countach.
It is hard to go wrong with anything with 12 cylinders in the engine bay. Two of the more recent models that still seemed to be quite reasonably valued are the Ferrari 599 GTB and the Aston Martin DBS. The fact that the 12 cylinder unit in the 599 GTB traces its ancestors to the Enzo, just makes it that much more appealing. Neither seems to have been impacted by the recent run up in supercar values and both sit relatively near the bottom of their likely depreciation curves. Of the Ferrari 599 series, my personal favorite is the 599 GTB HGTE. Even without the HGTE package, I would still opt for the F1 gearbox over the manual. While the manuals may command a significant premium today, to drive, they are in the words of one Ferrari salesman, "rubbish”. On the Aston Martn DBS, I would actually go the opposite route and opt for the manual. It fits the nature of the car better and makes for a more rewarding drive. It is also likely to be the last V12 Aston to come with a manual box which long term it should add to its appeal. The TVR Griffith arguably is one of the best values out there today. Nice ones are not much more expense than they were ten years ago. The Griff is always thrilling to drive, demands skill to be driven well, and can still keep pace with just about anything else out there. They are fragile though and do need a fair amount of TLC. A RAC membership is always advisable alongside TVR ownership.
On the three models noted that I am bullish on, this is not being driven by my views on their merits as cars. In all three cases it is because there are 5-10 times the number for sale versus what I remember 5 years ago. Back in 2010, you could normally find 4-5 Carrera GTs listed for sale at any given time in the UK. Today it is over 20. The same ratio holds for the Lamborghini Countach and the Ferrari 308 GTB. Supply is clearly well ahead of historic demand so at some point, a major correction is likely. Whether this is a slow slide down or a big one time correction is anyone’s guess. Also in the case of both the Carrera GT and Countach, these are cars that were quite polarizing in the not too recent past. The Countach due to styling and ergonomics while the Carrera GT has a reputation for being more than a handful to drive. The Ferrari 308 GTB is a personal favorite but I have never seen more for sale and at price points that were near Daytona territory not that long ago.
Overall there still are some good buys out there, just in very different places then they were a few years ago. Anything old and with a prancing horse or a bull on the nose still seems to be hot. Anything newish with 12 cylinders seems to be considered by the market as just a used car. Hence you can still get a lot of car for the money in the nearly new 12 cylinder category.
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