Given how expensive brand-new supercars have become, owning one of these dream-machines is out of reach for most people. However, some of these cars can be quite cheap to own if you shift your car-buying perspective. This is where the Ford GT comes in. Thanks to steady appreciation, this supercar can be yours for next to nothing.
A new video posted by Graham Stephan on YouTube outlines exactly how affordable some of these machines can be. In fact, if you’re a business owner, having one of these cars could result in a massive tax write-off.
How much does a Ford GT cost?
When the Ford GT originally left the production line back in 2006, it did so with a $150,000 base price. Adjusted for inflation, we’re talking about $194,629 in today’s money. To highlight how much of a bargain this car was at the time, Lamborghini currently does not sell any cars under $200,000.
Under the Ford GT’s hood lives a supercharged 5.4-liter V8 developing around 550 hp. However, the most important aspect is that this supercar sends all of the available power to the rear wheels via a six-speed manual transmission. Additionally, it has plenty of motorsport heritage, being a direct descendent of the iconic GT40.
When you add up all of these aspects, it won’t be surprising to learn that Ford GT prices have skyrocketed in recent years. In fact, Hagerty values the standard GT as high as $355,000. As a result, anyone that purchased one back in 2006 actually made money owning it.
How can you own a supercar for free?
Since there is a limited amount of Ford GT examples available, prices are expected to remain quite high for some time. Additionally, since supercars with manual transmissions are becoming infinitely rare, this supercar might continue to appreciate. That’s the exact argument Stephan makes in his recent video.
When looking at the Ford GT, you have to look past the price of entry. Given the healthy appreciation curve, chances are it will retain its value for years to come. As a result, Stephan plans to own this supercar for a few years, drive it, and eventually sell it for the same amount he paid.
In case you’re wondering about taxes, Stephan lives in Nevada. In this state, you’re not required to pay taxes on private party sales. As a result, Stephan is purely paying for the value of the car.
Additionally, having the Ford GT on his YouTube channel allows Stephan to save on taxes. This is because Stephan can reportedly write-off the car’s “depreciation” over a five-year period, saving up to $60,000 in taxes.
What other cars can you buy?
Since most of us don’t simply have $300,000 for a Ford GT, here is another free car that won’t break the bank. This is where the Honda S2000 comes in with its naturally-aspirated four-cylinder engine and rear-wheel drive. Like the GT, the S2000 exists in small quantities, and Honda has yet to replace it. As a result, Hagerty reports that the value of this sportscar has only increased in recent years. As a result, you can also have a sportscar technically for free.