Paul McBeth Bought a McLaren

[JedV]

Somehow I don't see McBeth hiring unqualified friends and family to mismanage his fortune.

An E63 isn't "just a station wagon". It's a supercar in a mom-mobile skin. The motor is hand-built and makes more power than both the GT and McBeth's 570S.

ESPN 30 for 30 "Broke" was great. Here is an excerpt.

 

[tbird888]

ESPN 30 for 30 "Broke" was great. Here is an excerpt.

So which is it, is he going down like Hammer and getting robbed by his family and friends or buying five houses and seventeen cars like the failed sports stars?

Ohhhh...you just want to judge him, cool! Carry on.

For the record, if anyone should be judged for their spending, Simon should be getting the fingers. His Audi is not a cheap vehicle, and it will depreciate like a typical ****box commuter. The McLaren will not. At the end of the day, the losses will be similar upon sale. That doesn't even begin to get into whether the cars are totaled in an accident or not.

 

[oldmandiscer]

Supercars aren't really that much more to insure than standard 'nice' cars. It's all based on risk and people who own supercars tend to not drive them very much and/or baby them most of the time. They get crashed much much less than us poors would assume. So, despite their high monetary value the insurance isn't really that much because they are seen as pretty safe to insure from insurance companies perspective. For example, car youtuber Doug Demuro owns a 2005 Ford GT valued at over $200,000 and he pays like $1900/year for insurance...less than his station wagon he daily drove at the time. Maintenance will kill you though.

Maybe with a mileage type of limit and/or a dozen other cars insured simultaneously under the same policy. I think the Ford GT is more of a collector as well, likely is crashed far less then a McLaren. The 2005 Ford GT owner is more likely to baby it then the new McLaren owner. He may have a great history of not crashing high priced cars too. Where this is Pauls first I assume. Lot riskier I think. I know I wouldn't insure him for less then 2K a month personally. That's only 100/1 shot he doesn't crash and total it in any month. Not to mention fire or flood or stolen.

 

[oldmandiscer]

So which is it, is he going down like Hammer and getting robbed by his family and friends or buying five houses and seventeen cars like the failed sports stars?

Ohhhh...you just want to judge him, cool! Carry on.

For the record, if anyone should be judged for their spending, Simon should be getting the fingers. His Audi is not a cheap vehicle, and it will depreciate like a typical ****box commuter. The McLaren will not. At the end of the day, the losses will be similar upon sale. That doesn't even begin to get into whether the cars are totaled in an accident or not.

McLaren are selling in the 130 range or less for a 570s 2017. 25K a year in depreciation or more spending on the options. Then you paid tax on it, that's gone. lol

 

[thirtydirtybirds]

Ford escort wagon is a better investment than a mcclaren. And arguably more fun to drive because it doesn't matter in the slightest if you **** it up.

 

[tbird888]

McLaren are selling in the 130 range or less for a 570s 2017. 25K a year in depreciation or more spending on the options. Then you paid tax on it, that's gone. lol

He also bought a 2019 at the end of 2020. Chances are he didn't pay full price for it. "New" or not.

 

[Hampstead]

Good for McBeth.

 

[ballgolfconvert]

This will ends up costing him a few million by the time it is done vs. just sticking the money in a decent mutual fund. If he already has his retirement totally set-up though, he should feel free to go for it. If not, he is an idiot for buying it. Not many people get opportunities like Paul has, fewer actually take the right steps so they can benefit forever. He is only is one key injury from having his earnings cut substantially.

 

[scooby snack]

Didn't Paul buy some land from his father-in-law? With the McLaren purchase it seems like he is going to blow through his money as fast as he gets it.

None of my business though.

 

[Hampstead]

Everyone acting like the most financially savvy disc golfer ever is all of sudden financially irresponsible.

LULZ

 

[BeRReGoN]

McLaren just unveil a sportwear collection, maybe they figured out in this time of covid that Discgofl is a good investment.

Saying it out loud kind of make me feel dumb but who knows.

 

[autocrosscrx]

This will ends up costing him a few million by the time it is done vs. just sticking the money in a decent mutual fund. If he already has his retirement totally set-up though, he should feel free to go for it. If not, he is an idiot for buying it. Not many people get opportunities like Paul has, fewer actually take the right steps so they can benefit forever. He is only is one key injury from having his earnings cut substantially.

So what is the price point that takes a car purchase from reasonable to idiotic?

 

[Jay Dub]

So what is the price point that takes a car purchase from reasonable to idiotic?

IMO, that solely depends on the person buying the car and their financial situation.

 

[oldmandiscer]

I bought a used Kia. I contacted ultiworld about doing a story on it.

 

[Jay Dub]

There is another possibility here.

Paul never bought this car. opcorn:

 

[Discraft Dad]

Full disclosure: When I read the title of this thread, my first thought was, "What is a McLaren?"

 

[Superbford]

No idea what his financials are... obviously Discraft should be his largest contract... and most likely his percentage on sales is best in DG..

So good for him. Hope he is very successful and can afford to get ahead while he is on top.

As for me, I don't think I'd be buying a super car unless I was the type to have over 10 million in assets... but you only live once.

 

[Discraft Dad]

I hope he can handle that much horsepower. I just hope he doesn't kill himself.

 

[JuanA]

IMO, that solely depends on the person buying the car and their financial situation.

The older I get the more fiscally responsible I wish I had been when I was younger.

 

[Ryan P.]

Paul sure seems to have a lot of financial advisors. How much is he paying you guys?

I agree that this seems like a bad investment, but there are so many things we don't know. We know he makes 250k a year from discraft, plus tourney earnings. Along with that he owns a disc golf company, gets sales on discs, and probably has other income streams we don't know about. Is it a bad decision? Maybe, but you guys are acting like it must be.

Simply put, just because it'd be a bad decision for you doesn't make it a bad decision for him.