Finding your dream supercar already wrecked might seem like a nightmare to some people, but it can also be a way to get a great car for a more affordable price. Of course, this typically requires some amount of elbow grease and work, which can vary depending on why the car is totaled, but for the most part, it can be a way to get a great car for cheaper than market value. There are a few things to keep in mind when looking at wrecked supercars, like Mclaren or Lamborghini cars, such as how much it will cost in parts and labor, as well as a few other costs because if you aren’t careful, you might just end up spending almost as much as you would be if you purchased the car in good, running condition.
How much does a wrecked McLaren cost?
Even in its worst state, a totaled McLaren still goes for more than your average Toyota Camry, but that doesn’t mean you can’t find them for a good deal. Some websites, such as Copart, or local auction houses that work with insurance agencies, sell these total vehicles, but they aren’t always descriptive of how severe the damage might be. The type and extent of the damage can affect the price of the vehicle greatly, as well as other factors such as which McLaren you are looking at — a wrecked McLaren MP4-12C is still probably more affordable than an equally wrecked McLaren 720S. So, the best way to keep an eye on what amount of damage is ‘good’ for any certain price is to watch the market for several weeks or even months. There is no Kelley Blue Book or MSRP value for wrecked vehicles, so the only way to compare prices and get a decent value is to do your own research and keep an eye on the market long-term.
What do rebuild costs look like for supercars?
There are many factors that affect how much it will cost to rebuild a supercar, but these are higher in vehicles like a McLaren than they are in vehicles like a Lamborghini. McLaren, which does not share a parent company with another brand, does not typically share many of their mechanical or electronic components, suspension components, or other parts with other, more affordable vehicles. This means that replacing these parts requires a direct OEM replacement from McLaren, or, on some rare occasions, you may find some aftermarket parts.
Some supercar companies, like Lamborghini, share more of these internal components with their sister companies, making it easier to source parts for a more affordable price — though it is important to note that this is only the case with smaller components that can be easily shared between vehicles, and isn’t a great platform for building a case of buying one wrecked supercar over another.
Other costs to keep in mind
Along with the costs of parts and labor, there are other costs to keep in mind when rebuilding a wrecked supercar like a McLaren. Depending on your state laws, there is a high chance you will need to have the vehicle inspected before the state DMV will convert the title paperwork from a salvage title to a branded title that can be registered. The cost of this inspection can vary state by state, but it usually requires proof of purchase and tax records to show taxes were paid on all parts and labor and that the parts were not stolen off of other vehicles or purchased off of a stolen vehicle.
As a supercar, even rebuilt, insurance premiums are typically higher, which is another factor to consider. In fact, even though my husband and I have several supercars on our collector car insurance, we were denied coverage for the first year of ownership on our McLaren MP4-12C — even though it was purchased in good, running condition. Besides that, most banks will not give you an automotive loan for a wrecked vehicle, and if you aren’t looking to pay a lump sum of cash for it, you will likely be looking at some kind of personal loan, which typically has a higher interest rate, until the car is retitled and can be refinanced as a drivable, registerable vehicle.
The unfortunate answer overall is, rebuilding a McLaren is going to be expensive, but there is no telling how much each individual rebuild is going to cost — seriously, you can’t even ballpark the number. But, if you keep an eye on the market and price out replacement parts and components on forums ahead of time, you can get a general idea of what to expect from purchasing and rebuilding a wrecked McLaren.