The Truth About The Flooded McLaren P1

The flooded mclaren P One is gonna run through copart here in about two weeks. There is a reserve on this car for welcome back to the channel today, guys. Let's talk about the impending sale of the flooded mclaren P One. Now, this car is going to run through copart here in about two weeks. So I thought I'd make a video and give my two cent into what the value should be. Now, I heard through the grapevine that there is a reserve on this car for $800,000. I need to repeat that $800,000. Now everybody soak that number into their head a little bit and understand how big that thing really is. Now, prior to the Pandemic, let's give a little P One history here. P Ones were probably the lowest priced hypercar in the market at just above $900,000. This is early 2019. It wasn't an easy car to sell. There was a lot of new cars coming out, and that car had pretty low value. Post Pandemic, everything boomed and the car started to sell between 1.5 and 2 million. Currently, right now, a 300 miles mclaren P One is worth just around one four to 15.

Now, that is prior. This is about a month ago. A month and a half ago, prior to the current economic downturn and the immense bubble that has clearly burst on the market, as well as the hypercar market, everything is going along with it. So with the rise in interest rates, there's so many factors in this, I don't really want to get into those. But the mclaren P Ones are probably closer to about a million 350 in actual value today. For a clean three to 500 miles, car, if not higher, miles will be lower, right? So at 800,000, that car is a very, very bad deal. Now let's talk about why this mclaren P One is going to be sold with a Florida certificate of destruction. That means that what's up, everybody.

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You cannot title it and put it back on the road again. Now, I know everybody in the comments section says there's a way. Yes, there's probably a way, okay? There's a lot of places and a lot of people that can do some gray area stuff and get that title back to a salvage title. But that's not the point, right? We're talking about value and we're talking about understanding what the true cost to take that car from the current condition and put it back on the road. Now, from the videos you guys have seen all over the internet, the car was fully submerged in water, right? It wasn't like a foot into the door. The entire car was submerged in water. Now, I'll post some pictures here, some of the aftermath of that car, because I want to talk about some of the major challenges that are going to be there. Now, this video is assuming that you're going to be able to buy every single part for the car and you'll be able to find all of the adhesives needed to rebuild it. Okay? So let's start off with the motor and the gearbox. We know that the motor and the gearbox are going to be bad because they were fully submerged in water.

And there is breather holes on the gearbox that water can get into. There is also air intakes on the motor that the water would go into and that water will rust the internals of the gearbox. Internals of the motor. And so the gearbox and the motor need to be replaced. Now, there's potential that the gearbox and the engine are similar to the 650s. I'm not saying that you are supposed to use those to rebuild this car, but there is a slight possibility that a 650s gearbox and engine will be able to be used in that car. Not for sure, but let's just call it possible. That would cost around $60,000 for that package. The battery on the mclaren P One, just the battery alone is $150,000. Assuming we can get it. There is extensive body damage on the P One. The body has cracks on the top of the rear deck lid. It's got cracks on the fender. It's got cracks on the door. So I estimate the body repair on that without replacing those parts, just repairing them is around $40,000. The windshield is cracked and destroyed, and the rear glass is also destroyed.

There is a small but major crack on the door glass as well. And I estimate those glass replacements being around $30,000. The interior needs to be new carpet, new alcantara, and all that needs to be replaced. So the interior, to refinish it $20,000. Now, we have all of the interior electronics, the window switches, the body harness, the body control module, the engine ecu's and every other ECU in the thing. There's door ecu's, there's the entertainment system, there's the GPS device, there's the radio antenna. All of that assuming that we would be able to get those pieces. Comparing the prices with my experience with bugatti and the veyron, you're looking at around $100 to $130,000 for everything. Now, those modules are really expensive. The modules are very, very expensive. But they also don't come with programming. So you're going to need to program the modules as well. Now, there is some aftermarket mclaren computers that will probably be able to do that, but let's just say a dealer had to do that and they were willing to do that. You can estimate an additional $5,000 in labor cost to program the module. Now, the rear splitter and the front splitter and the side skirts on the car are carbon fiber.

And unless you are willing to repair those with fiberglass and paint them black to replace the carbon, is around $50,000. So altogether, we're looking at an astronomical number just to do the basics. This is zero hidden damage. We don't know what's going to happen. There could be suspension damage that we don't know about. The shocks on that car are hydraulic. There could be hydraulic wing issues. I assume that the fittings, which are usually steel on the lines, will be rusted eventually. And all the hydraulic stuff is needed to run the entire car because the gearbox, the wing module, the suspension, all run in the same pumps. So the hydraulic pumps and the system that goes along with that also needs to be replaced. So we're looking at literally over $500,000. And just what I can estimate not buying brand new parts all the way from a dealer. There is, however, a kind of a lot of spare parts available on I don't want to call it second hand market, but Merit Partners, a dealership in Georgia, has a P One that was a prototype test car. And it's a bunch of cool story with that car.

But there is a motor, a gearbox, some suspension, a bunch of seats, interior, a bunch of pieces with that car that are included in the sale of that car. So potentially, whoever buys the P One from copart could maybe work out a deal for those parts. And I know that those parts, that number is probably around half a million dollars because those parts are from the factory and therefore a P One. So in reality, this car becomes way more expensive to own, right? Because A, all of these parts have to be paid in cash. The car has to be paid in cash. And yeah, you could probably export it. But if the car doesn't cost between 100 and $150,000, there really isn't a reason to buy it. Because if you're going to invest between 500 and 600,000, assuming this is all possible, you need to be at 50% of the actual value of the car of a regular clean title. No carfax, no accident, no flood to make a little bit of money. Because if you're going to try to flip it and sell it, you're going to have to probably market it at about 65% of the value.

So if we have a 1.4 target price of the clean value of this car, then we need to be in the car for $700,000 and have a target price to sell around $840,000. So that gives you around $140,000 profit, assuming you get the car for between 150 and all the parts for around that five to 600,000 range. So this is probably not going to happen because I can't see the reserve being 800 and them lowering it all the way down to about 100 grand. And I definitely think that there's someone crazy out there who's going to probably not watch my video, think that they're getting a p one for maybe even 600 grand, right? If they lower that reserve and try to get into this project weighing over their heads. I personally know the person who purchased the Fire sheron and it's sold for over a million dollars. And that car, there isn't even anywhere close to the level of Ft up as this one and there is a half a million dollars parts bill with that car. So that being said, nobody should buy this car. I am not buying this car. I would buy this car, however, if it was in the price range of 150, because I would do something different.

And I would probably just take the body off the car and modify another car with that body and forget the hybrid system, forget this one, forget the chassis number, forget all of that. Forget it being a p one ever again. And maybe doing something unique and special, making it like an offroad race car, something like that. Maybe swap a 720 motor into it and just do a thousand horsepower cool build on a standalone ECU something wild. That's my particular opinion. If anybody watching this has any opinions, I would love to hear them because these salvage cars always seem to find an unrealistic buyer that pays way too much and the cars float around. As with my bugatti veyron that I purchased, it was ten years in a body shop before I purchased the car and then subsequently fixed it. Ten years and four owners. So this is not an easy project and I don't recommend anybody buying this, but if you do, good luck and give this video a like because this is a lot of information out there and I hope that it helps the potential buyer make a decision on the price that they pay.

But if not, good luck and we'll see you in the next video.