Top 7 Fastest Depreciating Sports Cars in Toronto
Top 7 Fastest Depreciating Sports Cars in Toronto
Posted on November 22, 2021
Sports cars are amazing pieces of machinery. They are beautiful, fast, and the envy of almost every driver. They are also ridiculously expensive, not just the initial price tag but the insurance, maintenance, and other associated costs that go with them.
However, sports cars in Toronto and across Canada also depreciate at a rapid rate. While drivers who buy a new sports car will hate it, drivers who want a great deal will find that a used sports car makes the most financial sense.
Sports Car Depreciation
Exotic sports cars suffer from depreciation much more than regular daily driver vehicles. Mostly it is because of how difficult it is for people to afford, finance, and maintain them. It is also difficult to find a second or third owner of the vehicle.
Here are some sports cars that Toronto drivers might want to think about purchasing used, as they depreciate the fastest.
Porsche 911 GT2 RS
The Porsche 911 GT2 RS is a limited-series, top-end performance Porsche that loses about 30 percent of its value within three years of ownership. As is often the case with limited-edition cars, buyers end up paying way too much, including thousands over sticker price, to get their hands on the vehicle. This is wasted money that the car was never worth in the first place.
McLaren 570S
The McLaren 570S is an excellent, class-leading supercar, but with questions about its reliability and the discontinuation of the line, the value has fallen 25 percent.
Maserati GranTurismo
The Maserati GranTurismo is a truly wonderful sports car with a screaming 4.7-litre V8 courtesy of Ferrari, a handcrafted interior, and a famous brand. However, its poor reliability causes Maseratis to lose their value quickly. The GranTurismo is apt to lose over $100,000 in value over the course of a decade.
Aston Martin V8 Vantage
James Bond might love them, but Aston Martins are some of the fastest depreciating sports cars in Toronto and around the world. The embodiment of class and handcrafted British performance, even the V8 Vantage, Aston Martin's entry-level model, still had a base price of over $110,000. Today, drivers can find a used V8 Vantage for just $35,000--a third of its original price.
Ferrari 488 GTB
The Ferrari 488 GTB loses around 16 percent of its purchase price within the first three years of ownership. This contrasts with other Ferrari models--namely the hardcore Pista--which actually gained value over the first three years.
Mercedes-AMG GT
The Mercedes-AMG GT is a higher-level super sportscar with a more conventional, but not more affordable, badge. It is a strong vehicle, but it was new to its class and not as revered as other, pure sports cars. Therefore, it drops 20 percent of its value over three years, on average.
McLaren 720S
Reliability issues and a previous build-to-stock strategy aided in the evaporation of value for the McLaren 720S, which drops almost a quarter of its value within three years. Still one of the very best supercars that money can buy, the 720S is an excellent bargain for second owners.