Paul Wallace On The Dirtiest Secrets of the Supercar World

31:51And this is why I'm excited to partner with Incogni. Because what Incogni do is they work, hustle and force on your behalf in the background to remove all of your personal data from all of these intrusive databases, marketing lists and companies. So to stop the spam and protect your privacy, go right now to incogni.com forward slash disruptors to get an exclusive 60 % discount off an Incogni plan. That's incogni.com forward slash disruptors or click the link in the description. So you mentioned about you buy a Huracan and then you want to put a deposit down on the lightweight version. Yeah. Have the car manufacturers been having it away and taking the piss out of us with these GT3 RSs and these special editions and making us buy a load of depreciating cars, 15 Porsche Taycans, which will halve in two years, just to get that sexy model, but then we don't get it.

32:53Is that a big con, or are they within their rights to do that? That is a great question, because I think some of it, I mean, a lot of it comes down to brand strength. So I think from a Porsche perspective, from a Ferrari perspective, They know that when they drop a limited edition car, they will have a long list of people that will want to buy it. Remove the whole speculation ordering process. There's enough people that want to buy those cars because they want to own them. They want to add them to the collection. They want to drive them. They want to track them. They want to do whatever. There's enough rich people that.

33:27That would buy one of 500 cars. Exactly. And I think the reality is a lot of them are happy to play the game of buying the Panameras or the California Tees, the Portofino, Ferraris, Romas, whatever it is, the lesser models that are built so that you can build up this loyalty to the brand. I think the sort of fickle sense is when you then have to sell them back to the dealership, which means they kick you in the nuts on the price just to sell it at a massive profit again. So they basically make the sale twice, sometimes three times, sometimes four times. And Porsche, I think are worse than Ferrari at this because it's all kind of run from like a dealer level.

34:06So I think the dealer has quite a lot of power in where those cars get allocated. I think from Ferrari, it's up in the factory level. So it gets sent in and the application goes right to the top. Whereas what I've seen in the Porsche world is you might have a normal guy that works incredibly hard or girl who works incredibly hard that's gone and bought a mccan a cayenne a panamera a tycan just to try and get the next gt3 and then you have someone of social media presence who woos the main dealer principal who goes you can have one and then all of a sudden the guy that's played the game gets swept aside and they've gone you've not quite made the allocation that's a con yeah and it is happening and you can see it like some of my friends have actually experienced that well where they've bought a few and then they haven't got well yeah no well that yes and then also the other side so they've bought maybe one or two and they've skipped the queue because there's going to be content on their platform and i mean you're never going to turn down the opportunity to own a dream car and go through that specking process yeah when you jump in a queue you don't worry about the people in the queue yeah exactly um and so the ferrari side i mean regardless both sides the manufacturer wins i still can't decide what i think yeah i'd like us to land somewhere part of me thinks they can do what they want it's their company yeah and if they if they want to make me buy six you know depreciating tight tycans to get the gt3 rs that's their choice but then when they tell you you're going to get you know the the next run and then you don't or there's shenanigans going on in the dealership and people are jumping and people are falling back behind the queue that part feels like a con to me yeah yeah but i even think even if you got the car right so let's say you play the game and you get the gt3 rs there are still there's still a game to play, which I still feel like is a bit of a scam in the sense that if you do want to sell that car, Porsche go, you have to sell it back to us.

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37:33So then they'll give you a lot less money than the market for it. Yeah. But then they'll still put it up at market value, which is most likely going to be over the sticker price. So let's say you paid 200 grand for it. They give you 200 grand back going, look, you can have your money back. You can stay in with us. We'll give you the next one. And then they put it up for 350. Oh, 350. Bloody hell. So if you, but if you don't. Filthy bastards. But if you don't, blacklisted. So if you were to sell your car for 350 at market value, but do it through like a used specialist or one of your mates that owns a car dealership, Porsche go, you're never buying a car from us ever again.

38:13So you've played the game up until the point you've got the car you want. You've paid for it. It's your car. Why can't you do whatever you want with it at that point? Why can't you sell it on eBay? Why can't you sell it on Gumtree? So again, this opens up another wormhole of moral paradox. Yeah. On the one hand, it's their brand. Yeah. So they can choose who they want to sell to. If a Ferrari don't want to sell Floyd Mayweather a car because he's bastardised it or he's flipping them, that's their choice. On the other hand, I think that's dodgy shit. Which one is it? What do you think? If you've got the money, and it goes back to the brand strength, right, and the control that they have over who they sell to and who they don't sell to, because if you go down the high street and you walk into a River Island or whatever, if you've got the money, you can buy whatever you want.

38:59so why shouldn't that apply in the car world why are Ferrari then controlling who they sell their cars to because they want to protect their brand image right they're now coming out and saying that you can not spec your car how you want if you walk in now and say I want pure sangue I want the bottom half to be pink but I want the roof to be luminous yellow and inside I want a brown cream as if like coffee's been spilt all over the interior they'll veto it and they'll be like no you can't have your car like that because it devalues the brand we do not want that car on the used car market when you come to sell it regardless of whether you say or promise that you want to keep it they're now controlling how you spec your car so they're controlling what you buy when you buy it how much you pay and how it looks and how it looks yeah i'll buy a fucking lambo like but then i get it if you know i mean that was a bit of an extreme example of course yeah But if you make it look like a banana, I mean, Ferrari do have an amazing brand.

40:01Yeah. So if you look back at the history and Enzo Ferrari who created it and all of the work that they've done up until this point, you would probably be a little bit frustrated if you've allowed the company to get to a point where you can make something look shit, why they wouldn't want to control that. If they're producing it, it's coming out of Italy, they're passionate about it and they've got this inherent love for it because they all do you go to Maranello you go to Modena and they're all in the Ferrari overalls it is literally like Disneyland for petrol heads wow it's incredible um so then if you do see some crazy crocodile leather nutty Ferrari driving around you're like why the hell who spec'd that like why have they allowed that to get built so I do understand it from that side as well it's a really hard thing to get my head around and I think the the nice reality is I'm probably never going to be in that position where I'm going to have Ferrari telling me, no, you can't build that car in that colour or that spec because I'm probably never going to buy one new.

40:59Well, you'll just go and buy a Lamborghini. Yeah, exactly. Because it does get to the point where if there are so many rules and regulations and stipulations, I'll just go buy a Lamborghini. Yeah, yeah, yeah. I had a story where I was in Italy, actually at the Pagani factory, because they're all very close together. It's like a sort of triangle. And there was a story that I was told where someone who, very wealthy, big car collection, had just gone to Pagani to collect his very special Pagani that he'd probably spent a couple of million on. Big day for him. He'd done a factory collection. He'd met Horatio.

41:32He'd met the whole team that had built his car. And he just thought, I'm going to kill two birds with one stone here. Like, I've also got a very special Ferrari on order. I'm going to drive my Pagani with my wife. We're going to do a little road trip to the Ferrari factory. and we're going to meet the team and we're going to spec my Ferrari. They got to the gates. Ferrari told them to go to the park and ride. They're like, you can't bring that car in. And they're like, what? They're like, yeah, yeah, go to the park and ride and get the bus back. If you want to come in and you want to spec your car, that's how you're going to come in.

42:09Like that is how pretty intense it is over there. So is that great brand or is that just arrogance? I think it's the latter. at that point it's arrogant i think it is yeah yeah because that show it it's a power move isn't it yeah it's like no matter how much money you've got no matter how many cars you've got in a collection and yes you've played the game with us to get to a level where you're being able to afford the really special cars you're being invited to buy all of this that's power it's like no it doesn't matter who you are doesn't matter how much money you've got you're not coming in thing is now someone can just go and post about that all over social media back in the day i drove my lamborghini that i had to the ferrari and i thought it was really funny i was taking pictures of it outside i've got my lamborghini key and i'm holding it up to the front taking all of these pictures i don't know what would happen now if i did that but back then it was kind of like no one really knew the power of social media or no one knew just how big it was going to get yeah but those pictures are on my instagram right wow all right i want to come back That's cars.

43:14Okay. But what's the story of Supercars of London? What's your story? You know, obviously you're a great content creator as well. Are you more a creator or are you more, you know, a supercar dealer seller? Tell us your story. It's very much content creation is very, is sort of like 80 % of it. It's ebbed and flowed over the years. I started in 2006. So I was filming really early days and I had the YouTube channel prior to Supercars of London that was just filming cars in London. So for the first five to six years, I never put myself on camera. I was chasing after these cars in Knightsbridge, in Mayfair, dreaming of what it would be like to just be inside that car, to just have the point of view of being sat behind the steering wheel.

43:58And I was also fascinated as what these people were doing for a living to be able to afford these cars. Because back then, there wasn't such thing as car finance. If you wanted one of those cars, you had to buy it cash. Yeah. I took, I think it was six years to hit a hundred thousand subscribers. And that was through a bunch of viral videos of the guys from the Middle East coming over to London. And then from there, it took another four months to hit 200 ,000. that's a good life analogy that is so yeah there was a window that overlapped between that hundred thousand milestone where i started to put my face on camera i started to talk a little bit and i wanted to document my own journey and show my audience which was maybe 75 80 000 subscribers i wanted to show my audience who was behind the videos yeah and it was shmi who suggested that i go and put my face on camera he was like people will want to know who you are and your story yeah um and that has then evolved into like the real peak of the golden era of going on these youtuber road trips where it felt like cheap top gear we were all buying these cars i was 24 years old and i had my first lamborghini which was a real bucket list moment for me um and we were driving down to monaco what we hadn't quite realized was the business model hadn't quite been thought out we were all going and buying these expensive cars depreciating them by the mile putting loads of miles on them staying in hotels paying for petrol we were churning these videos out which we absolutely love doing but the actual concept to make any money whatsoever was just not there we were spending so much money to basically just make it all back yeah and then cover our costs so it's quite a lifestyle business um and then as i've grown up i've looked at ways in which i can work a bit smarter.

45:46I've looked at different ventures to try and support my revenue stream, sort of reduce the risk. And the one thing that I'm finding a lot now is these opportunities, these paid partnerships, the endorsements of brands and companies that want to work with me and use my platform that I've built to promote their product, their service, which is a really fun way of doing it because it allows me to pick the ones that I believe in. It allows me to pick the ones that either I've already used naturally or organically before they've then converted and started to pay me yes but then it's also given me the idea of these guys are making money from me by paying me maybe I could just almost reverse engineer that and start my own companies and then use the platform that I've built and I can put my name behind that company because it's it's me it's something that I've created so that's like where I'm currently at now looking at that the next few years going forward it's like right my projects that i've started that i'm passionate about that i believe are gonna really benefit my audience one way or another whether it is a product or a service and use my platform in that way to reach out to a wider audience and hopefully bring everything up so that there's a nice portfolio at the top of different businesses that i can use my youtube channel as a bit of a platform to create fun content that actually will help also leverage my business ventures into a new uh area or audience so that's where i'm at supercars of london is uh is a great fun every single day is different did you contact every day uh not anymore no i did i got burnt out right i reckon every four months i basically just have to sit in a room and just stare at the ceiling and be like i can't pick up a camera again oh wow Yeah.

47:38It got pretty, pretty, pretty dark in the sort of 2018, 20, between like 2017 and 2019. I like was desperate for a break. I like needed a break. And every time I analyzed everything, trying to figure out when I could take a break, I just couldn't because you're just feeding the beast on YouTube. You're playing the algorithm game. And if you take a break when no one else does everyone else just carries on and you stand still and so I could never actually find a time where I could go yeah I'm going to take a month off how many subscribers you got now 950 wow 950 thousand so yeah uh and you because you got nearly that on Instagram as well yeah so the supercars of London Instagram almost like it grew by itself because I was going out and and filming and photographing all of the content and then I realized I can't spend all of the time gathering all of the content bringing everything in so um I started to share the best photos of the best cars that were being seen in London and tagged the photographer and I started to create like a reshare right page so other people could yeah put their content yeah yeah and then they could um grow their own audience so there's quite a few of the car spotters out there now who have essentially like built a big platform that I'd like to think I've had a bit of a part in helping get them up to that point because I've just kind of handpicked the best photographers that are dedicated their time to going out and photographing these cars and then I was just able to reshare them to a bigger audience and then they're like the the following has just kind of gone like that so it's very cool and I love love seeing these guys now obviously continue in doing what they're doing, but with a nice following.

49:32Nice. So rank these supercar brands in order, fourth to first. So start with fourth. McLaren, Ferrari, Porsche, Lamborghini. Start with the fourth best, i.e. the worst. Yeah. In that order, I think. It's McLaren fourth, Ferrari, Porsche, Lamborghini. So Porsche second. Yeah. Ferrari a third. Yeah. So I've asked a few people this, and if they were in here right now, you'd be having a fight. Why? Why McLaren 4th? I probably put McLaren 4th for a number of reasons. The performance is probably their best pull, which actually... Isn't that the top measure of a supercar, though? Yeah, but it's useless on the road.

50:19Right, okay. So their cars now, the Artura, the 750S, even the sort of hyper stuff, like the W1 that's coming out is going to be useless on the road. Like they're too fast. And then you look at the build quality, reliability, usability, and it's pretty bang average for a car that you're going to be charging 250 grand for. And I just think like the engine plays a massive factor for me and it doesn't have much soul. It doesn't have much character. it's a tool that has a function and it's very very fast but I just think I was never a big fan of the McLaren F1 as that sort of iconic pinnacle Concorde moment in the automotive industry I never really attached myself to that car or fell in love with it so when they came back with the 12c and moved forward they evolved the supercar world very very quickly I think Ferrari, Lamborghini were kind of cruising at their own pace.

51:22When McLaren came in and started setting the benchmarks higher, Lamborghini and Ferrari had to catch up. But I put them forth purely because they don't give me the fizz. They don't make me feel special when I'm driving the car. I wouldn't want to own one purely from the reliability perspective. And they depreciate a lot probably because of that, don't they? Is it true about their customer service is really bad? I have no idea. Okay, fine. Never bought a car. I haven't owned one. I do know their build quality over the years has not been great. And I think they have improved it. But I've seen some cars that have had rear bumpers removed for exhaust changes and things like that.

52:02And some of the stuff I've seen or been made aware of by the people. Like what? Have a look at that. So like the heat shield stuff, you know, like if you're protecting something because it's getting so hot, um you'd expect on a 250 grand car that it's been done correctly and this is that like a kid had wrapped up a christmas present oh and like it was ripped right like it wasn't covering it all properly yeah and you think this is a 220 grand mclaren 720s for example yeah um and they're not doing that kind of thing correctly what else aren't they doing correctly if they can't do that which is a fairly basic but fundamental thing, where else are they cutting corners?

52:46I think they've improved now. I've not driven a McLaren in six to nine months. And I always like, I flirt with the idea because I've never had one. And when they get cheap, you start to think about it, don't they? Yeah, yeah, yeah. Because you can get a lot of metal for your money now. Yeah. But then again, like I think the older cars, you're getting a lot more rust than you are metal.

53:12So yeah, they're at the bottom. Right. Ferrari third. Woo! I mean, that's damning. Yeah. Why Ferrari? I would probably happily put Ferrari fourth. I like two Ferraris. Which Ferraris do you like? Three, but one of them's like four million quid.

53:33F12, 430 Scuderia. In terms of driving, for me, the scooter is the absolute best Ferrari. Right. Wow. The size, the weight, the power, the gearbox, the sound, the way that it's been stripped out. That to me is the perfect package of a Ferrari. Yeah. The F12 is a little bit more outrageous because obviously it's$700 brake horsepower, but it just screams like it's just the perfect V12 sound. And then all of the other stuff like LaFerrore, everyone's going to scream at me for being like wow what about the la ferrari aperta what about this what about that but it's like it's four million quid it literally doesn't register in my brain i can appreciate it i can look at a picture of it and go okay that's cool and i've been lucky enough to see a lot of them on the road and i'm like yeah that's mega but it's so far out of the realm of what i'm thinking is possible that i never look at it as that'd be cool to own i'm not that fast the other car that i do really like from ferrari is like a black f50 but if you give me a red one i'd be like no i wouldn't even want to drive it why i just you think it looks wrong in red and good in any other color in the f50 i'm not interested in even looking at it black i'm like that's like one of the coolest things ever and i don't know like that's just how what's the word not specific but in all of these years of me seeing all these cars driving so many and being lucky enough to experience them drive with them drive them be a passenger in them i've almost like fine-tuned what i like and don't like so much that what is in the i like pile is very particular and then everything else just kind of sits over here right yeah whatever yeah so have you kind of ruined cars for yourself like maybe yeah but i think prostitute ruining sex for themselves.

55:28I can't speak from experience on that. But to me, the Murcielago was the car that it had so much emotion attached to it. And I actually just, that experience of owning that car, collecting it, the collection day, and going through that process of getting the perfect exhaust on it, making it the perfect color, driving it. There is no amount of money that I can attach to experiencing that as a life goal that everything since i look at it like from a sort of financial perspective and i'm like but it's never going to be that so even if you were to say yeah even if you were to say your best the best girl you're ever going to meet is one of your exes you've ruined it for yourself if if you said to me i'm gonna give you five million quid go and buy your go and get your dream car garage, but you cannot buy a Murcielago, I'd be able to spend that money, but I wouldn't enjoy it as much as if you were to say, here's 200 grand, go and buy a Murcielago.

56:29Right. Does that make sense? Yeah. A friend of mine has been trying to get me to get a Murcielago and he was talking to me when a good one was like sub 180, maybe 170, 160, and they've moved up. And I don't know, I just thought, but you're kind of talking me around now. Yeah, I don't have one for so sad. The thing is, I had a 430 years ago. It was in my 20s. And I remember 355s were 30 grand. Wow. And I was like, well, look, I've just paid 75 grand for this 430. I'm not going to get another Ferrari. Why would I? And now they're like a crap one's 100. So there is a part of me thinking, but I'm thinking I've got an Aventador.

57:10I need to go and buy an industrial unit. But everyone speaks so highly of the Murcielago. it's as a people are fanatical about that car aren't they yeah i know a whole club a whole crew of people it's just the mercy of lago yeah yeah and even now like if i'm out and about wherever i end up bumping into someone who's watched my videos a subscriber or a follower of mine on instagram mercy lago first conversation near on every single time if it's not that it's i've i've been following you since the r8 days right so it's either like i've been following you from the beginning when you were car spotting and you bought your first car because that was a real sort of like moment for me and that's what started the trajectory for my following but that Murcielago I think because it's such a brutal sledgehammer pinnacle of Lamborghini's history in a way and it was before the Aventador but just after Diablo the Murcielago SV I think is like a unicorn for quite a lot of people just in general i i just get so many i've had so many cool conversations with people about that car yeah that um i think i have a tainted a rose rose tainted tinted rose tinted um of the ownership of that car because there were some imperfections to it as you'd expect but that's what gave it character right so i almost overlook the problems that I had with that car during the ownership of it.

58:40And I'm just like, that was the coolest thing ever. Okay. So Porsche was second. I mean, some people have said to me, well, a Porsche isn't even really a supercar. Yeah. You know, I just love comfort. I love the Panamera. Did you say you're 30? 34. Are you sure you're not 54? Yeah, trust me. If you love the Porsche, because I've had the last two Panameras, the Turbo before there was a Turbo S in it, and the Turbo S. I fucking love that car. Yeah. And I'm like, am I going to want a Bentley soon? Am I that old? I'm already there. Am I that old? But let's be fair, Bentley and Lambo are good at targeting younger people.

59:19Ferrari still seem to be targeting older people. Yeah, yeah, yeah. I think Ferrari is the, I've got, it's a class, I think it's classier. So when you are in Monaco, you see a lot of people driving Ferraris. but the new ones aren't classy are they? no no no I agree you're not seeing people drive them no but you're seeing the 812s but then yeah if you want to go back to the classics and you want to start seeing like the Test Rosses the Ferrari F40s then that's like Monaco is a really good barometer of where you see old money and new money yes and you can tell who's new money and who's old money based on the car that they're driving yeah but yeah going back to the sort of age and sort of lust for a comfortable car.

1:00:08And I don't know whether it's because I've had some pretty crazy, loud, uncomfortable cars. And don't get me wrong, I can still put up with them. But it is when you then just start getting exposed to, oh, this is what the Bentley's like, or this is what the Mercedes S-Class is like, that every now and again I'm like, well, I would quite like a brake from my car that's just bouncing down the road. And I feel every pothole and every little undulation in the tarmac. It would be quite nice to have a bit of air suspension every now and again. Was it M4 you turned up? M3. Which is lowered. So I'm a sort of...

1:00:41So you've lowered it. Yeah. You've got a car you could drive every day and you lowered it. This is what all of my friends say. What are you doing? Yeah, exactly. So I'm very much self-capitulating or self-destructing. Self-sabotage. Yes. You have. Exactly. Every single time. You've got a very high-class, sporty, fast daily. Yeah, and I've ruined it. And you're turning it into a car you don't want to drive every day. Wow. And that happens a lot. But I think it looks good. It looks good. Yeah. Silver has crashed. It's back to its price in 1974. And I'm going to buy more. And if you'd like to learn how to invest and build multiple streams of recurring income, I recommend you join Money.School.

1:01:24Money.School is my global financial education platform to help as many people on this planet get better financial knowledge. For less than four Starbucks coffees a month, There are hundreds of hours of courses, resources and masterclasses going back a decade to teach how to make, manage and multiply money and gain financial freedom. So join thousands of other money and freedom seekers on the link money.school and start today your journey to financial freedom and more money. So what is the most overrated car right now? Everyone's hyped about it, but you're like, come on, no. Oh, I literally had this.

1:01:59I was talking. I was talking. Who was I talking to? And I literally, I mean, I think every Ferrari, maybe not every Ferrari, because it's overrated is something that people are talking about a lot in a manner that is amazing, right? But it's not that good. But it's not. Yeah. Or everyone thinks it's good, but it's not that good. Yeah, I actually think Ferraris now, the majority of the people aren't hyping them up. Right. From what I've seen on social media. So they're not overrated because they're not overrated. Yeah, exactly. Yeah. So it's a good question. I actually, I feel like I need to pull something up.

1:02:39Do you know what? Mercedes, AMG, anything that Mercedes are doing, AMG. But no, because a lot of people aren't really particularly happy about them either. because they're not putting the V8 in the stuff. And that's frustrating. By the way, this isn't an Oxford University debate. You're really thinking about it. You don't have to overthink it. Do you know why? It was because last week. Oh, define overrated. But I had a conversation with someone and we were literally talking about this and it's just not in my brain. Well, I'm going to tell you mine. Go on then. Ferrari Prurasangui. Yeah. Is that how you say it?

1:03:13Ferrari Prurasangui. Yeah. I mean, if you can't even fucking say the car, that that is the most overrated car by at least 200 grand yeah am i wrong no all right so we might come back to that if you can beat that yeah all right what about the most underrated car it could be if you walked into and it's going to sound like i'm being paid by porsche but i'm not just walk i would love to do this one day walk into a porsche dealership and go oh i want to 911 they go fantastic which one the gts the turbo s just a 911 just the rear wheel drive 911 i don't want any badges on it and they go okay perfect sit down let's go through the options let's let's start specking it up you need the uh brake porsche ceramic brakes or you need pasm or you need burmester you need all of these options like are you gonna do the stitching are you gonna I don't want any, just make me a 911 with no options.

1:04:15I don't think Porsche would accept that. I actually don't think Porsche would ever sell you that. But that, in my opinion, I think that might be the best answer to this question. Is the most underrated car. Because they've just built like a list of different variants of the 911. Because all the other cars are that car with bits on top. Yeah, yeah, yeah. So just because it's got more bits on top doesn't mean it's worth two or three times the price. The best value is in the standard one. But again, I don't know where the Porsche will go. Yeah, no problem. We can build you a 911 with no options. I don't know whether they would even accept that.

1:04:54But I think when everyone talks about the Carrera T or the GTS or the Turbo S, and obviously there's a lot of hype around the Turbo S now because they've just done 992.2 Turbo S. And then you've got GT3 and GT3 RS, which obviously are in a league of their own. But everyone forgets about a bog standard 911. No one... And how much is a bog standard 911? I don't know. Because no one buys one. No. Yeah. But maybe cheaper than you think. Yeah. And then if you get a three or four year old one... Because then Porsche, they'll probably try and sell you into it and be like, oh, like, why don't you go and get a Cayman and then we can add some options on it.

1:05:34If you're looking at spending 80 grand on a 911, don't get the base model because no one's going to want to buy that when you're finished with it. So why don't you go and get the top-level Cayman? We'll put some options on it, make it nice, so that when you're done with it, we can sell it after. So they'll probably want to try and pull you down to a Cayman but get you to spend 80 grand on options versus actually just going in and buying the car you want. Yeah. Right, I can't believe I'm going to say this. Okay. But for me, underrated has to mean value. Yeah. So therefore, you have to look at cars that aren't mega expensive or were mega expensive but have plummeted.

1:06:16Yes. So what about a Taycan Turbo S for 50 grand? I mean, I would buy that and not even worry about selling it. I'd just keep it forever and then after five years, oh, it needs a new battery for 25 grand, doesn't matter, just park it on the drive and let it stay there and rot. That is so cheap. 50 grand. What were they lockdown? 180? Yeah. Now, look, I can't believe I'm saying this because it's an electric car. Yeah. But when they're under... Is that not an underrated car for the money? I think so. And I had this conversation with quite a lot of my audience. I posted a 29 ,995 Taycan. But it was like obviously a base level.

1:06:56No spec. Sub 30 grand. For a Taycan. And of course, from a performance point of view, you're going to be faster than pretty much anyone that's driving around in a petrol or diesel car. So you're going to be in the money with performance. Fairly modern. Yeah. The Porsche's decent build quality. But a lot of people are like, yeah, but look at it. And it's because it's got basic wheels. And it's like, okay, put Turbo S wheels on and debadge it. It looks like a Turbo S. There's no difference. but then I had someone basically reply going, my car was 35 grand out of warranty, I think, or he saw the warranty work get done and the battery replacement was 32 and a half grand.

1:07:39Well, that's part of the reason why they're so cheap because people know this and it's going to get to the point where you need a new battery. But when you get there, you could hack around and find a second hand battery. I think so. I've got an Ariel Atom And I bought it and something went wrong with the engine. And we found a used Honda VTEC engine. You'll find a used battery somewhere, won't you? I think so. I think so. But the ones that aren't as savvy as you or I. I mean, I'm not that savvy, but thank you. You're more savvy than me. If you manage to do that because. But it doesn't take that much effort.

1:08:15No, but you've got to be a problem solver, right? Like it's trying to find a solution to the problem that you've got. But that's how you buy undervalued anything. For sure. That's how you buy undervalued real estate. For sure. Yeah. But there's also a lot of people that don't have that mindset that think, oh my God, the world's ending because I've got this problem. They don't. Right. Then 50 grand for a turbo. I mean, I guess they're less now. But what if you buy that car and in a year's time you need a battery replacement, it's out of warranty and your insurance company writes it off? Well, all right.

1:08:45It cost me 50 grand for one year. There are other cars that would cost you 50 grand in a year. like Range Rover might cost you 50 grand in a year. You just buy a new Turbo S Taycan and it's... Or just sell it for something, probably get 20 grand for it. But the likelihood of that happening has got to be really low. For sure, for sure. But at some point, as time moves on, it's going to become more frequent. And for those people that aren't problem solvers and thinking, I'm going to go and get a secondhand battery, I'm going to do this. And they think, I'm just going to jump into a cheap Taycan at 30, 35 grand.

1:09:17I'm going to run that around for five years and maybe don't have 35 grand to lose, are you? No. No, wow. All right. Are you up for a bit of a quick fire round? Well, you've seen I'm not particularly quick when it comes to answering questions, but I'll try and give it as little thought as possible. We'll give it a go. I don't want to like overly get in your head. What's the most nicked car out there? Isn't it like a Fiesta? Something like that. Okay. You've not heard anything about Range Rovers? I've heard a lot about them. Yeah. But I think still like numbers wise, I'm pretty sure it's still like Ford Fiestas that just get joy ridden the most.

1:09:56Right. But yeah, of course, yeah. Range Rovers are nicked quite heavily. I think at some point it was a Ferrari. Ferraris were getting nicked quite a lot. Really? Porsches. Porsches are getting their headlights stolen. Something to do with like a metal compound in the headlight that people are taking out. So they're literally just ripping a headlight out of 911s now. ridiculous wow yeah and is car insurance now a big scam yeah why always has been why I think it's the biggest legal scam why because they just essentially can charge what they want we all need it because it's compulsory and you're seeing now that and maybe the overall arcing facts and data an insurance company might be able to tell you that we're crashing cars more often I don't know but But what frustrates me is I've got an actual example of this.

1:10:51Is this the quickfire round? No, just do it. Okay. Go, roll. So my Audi A1, which was my daily car, I parked it on the side of the road whilst I was on holiday and a storm came through, tree landed on it, completely crushed the roof on it. And at the time, I was also going through the process of selling my Lamborghini Gallardo and I wanted to buy a Mercedes-AMG GTS. guess it was a period on my channel that was like really exciting for me this tree landed on the car and I had the option of calling up my insurance company with the police reference number and trying to claim on my insurance I was told not from the insurance company they were either going to claim act of god and not pay out or they would write the claim against my insurance and then every car or every insurance premium that I had for the next five years would increase because I've made a claim on my insurance.

1:11:51So how does that sit as the consumer where I'm paying for a product or a service where one, they're going to try and get out of it or two, they're just going to rinse me for more money over the next five years where it wasn't even my fault. And the worst part of it was I then did the math of what my Audi A1 insurance would cost because I would have called up another insurance person who I knew who then tried to help me. And I basically would have spent another six grand over five years just on my Audi A1. But then we did it on my Mercedes AMG GTS. And if I'd kept that car for five years with the claim on my insurance over the five years, and it would have cost me another 15 to 20 grand for a tree landing on my car.

1:12:29And in the end, I fixed the car through a body shop, an approved Audi body shop. I paid for it privately. So you're legally forced to buy car insurance and then you have to go and pay for it yourself. So you're basically paying twice. So your car insurance is useless. Yeah, because I think it cost me around three to four grand. And I was just paying. I was in a very fortunate position that through friends, I was able to just pay like the parts and a bit of the labor. And they kind of like did me a good deal. Car was fixed. Car was absolutely fine. And it basically, the cheapest option for me was to continue paying car insurance, not tell them, but actually pay for it myself.

1:13:10So that Aston Martin DBS there, a lady in a Yaris reversed into it. My PA went out and got the details and I was about to make a claim because it would have cost me a few grand because, you know, you got the whole rear part of the car, even though it was only a small little bump, I guess hers would have been a little touch up 50 quid. Anyway, I was just about to make the claim and my business partner went, don't do that. Yeah, yeah. Check. And I went, well, what do you mean? Anyway, I checked. And not only were they going to ramp up the premium on my car by I don't know how many thousands. Which stays on for five years.

1:13:51Yeah. So that's five years worth of premium. They put the premium, or they were going to put the premium up on 14 other of my cars. So all my other cars and all my lettings cars, because my name's attached to it. Not just my cars, the cars on the lettings agency, which I never drive, which is just linked to me. So, and like the car was parked. A woman reversed into me. Yeah, it baffles me because I fully understand why we need it, right? Like the actual principle of you need it and you need to have the cover. But the problem comes where I struggle with, and thankfully now I actually do have a specialist insurer that is very supportive of the cars.

1:14:32And thankfully, I've not had to make a claim, which also plays in my favour and theirs. But over the time, whenever I've gone on comparison websites and you then take an insurance policy out with them, they are essentially just taking your money and making it incredibly difficult and will do anything that they can to oil themselves up and slip out of the situation without paying you, right? Yeah, I mean, if you don't read the policy... Yeah, yeah, yeah. I mean, I remember I had a watch insured once and I read the policy and they said it was insured for loss in the house. Well, that's the only place you're not going to fucking lose your watch.

1:15:11But if you're outside of the house, which is where you're more likely to lose it, not insured. My wife had a laptop, had insurance on it, which included accidental damage. In the small print, didn't include spillage. She spilled coffee on her laptop. Well, that's probably how most people knacker their laptop. Yeah. So they know that. It's not like she's doing it. It's still an accidental damage. It's not like she's gone... Because that is a purposeful damage if you're frustrated with your laptop or whatever. That's because they know what they're doing. And they know that's how most people accidentally damage their laptop.

1:15:46And they know no one's read the insurance policy start to finish. Do you know now some cars are 30 grand to insure? Yeah. Like people are handing back Range Rovers. Yeah. Because the insurance on them in London is 30 grand. In three years, that car will be 30 grand. Yeah. I have had so many people talk to me about like buying a Range Rover or buying an SUV in general. And then I say, check insurance. Don't even bother going into a dealership until you've checked insurance. Because the different, most people are financing these cars, right? So you go into a Porsche dealership and you want to spec up a Cayenne or you want to go and buy a used Cayenne.

1:16:24go to the JLR dealership and have a look at the Range Rovers they'll all be there or thereabouts the same sort of price per month when you want to finance them 10 % in x amount per month over a four-year period whatever but if you're splitting your monthly payments you then need to know how much your insurance is going to cost and if you're saying that a Range Rover in London's 30 grand I got an insurance quote for a Range Rover when I borrowed one and it was about 17 grand for the year and i live outside of the i live outside the m25 i don't even live inside so then you think okay 17 grand divided by 12 you have to add that payment on top of the monthly payment because that is a cost it's just more than doubled your fucking monthly payment so then everyone that i spoke to and i've got a great relationship with jlr but the reality is these are the numbers and people are making their decision based on what they can afford most people going and buying like an x5 or a Porsche because yes, the monthly payments might have looked more expensive, but when you then factor into the insurance as well, the Porsche and the BMW were like 400, 500 pound a month cheaper when you include insurance in that monthly payment as well.

1:17:27It's nuts. That was the first quickfire round question, but now I'm glad we went there because this needs to be called out. Look, I get insurance is a business and I get they've got to make some margin, but it's just got out of hand and it's ridiculous. I think there needs to be more support to the consumer. And I also think there needs to be more compassion. But the problem is a lot of these insurance companies, and I speak to them, are implementing AI into the real basic decisions. So it's taken the human element out. So if you're a single mom of three kids and you've got a car and someone crashes into the back of you or is in a situation where someone reverses into your car that's parked, you've got to get it fixed.

1:18:07The first time you speak to the insurance, you're speaking to a computer who's got no emotion. So all they're doing is a yes or a no, diverting you to where it needs to go. And by that point, they've probably already registered the claim on your account. So even if you don't go through with it, in five years time, have you had any claims? No, no, no, I've never had a claim. Oh, but we've actually got a note here from four and a half years ago when you did call up and tell us that you were involved in an accident. And whilst you didn't make a claim, we do have to factor that into the premium. And you're like, yeah, filthy.

1:18:42So that was the first quick fire question. Right. Okay. What's the worst car you've ever driven and why? Worst car I've ever driven. I drove a Liberty Walk BMW M4. And I think it was bad because of the modification, right? So going into like, what's the worst car I've driven from a manufacturer? I don't think there is one. um the worst experience i had on a first experience of driving a car was the ferrari 812 it was nothing to do with the car it was everything building up to it and how i basically like didn't get fed for eight ten hours we were sat in a room with no windows no air con listening to someone talk about the underside of the car and how they've improved the aero downforce by 85 over the f12 i was so mind-numbly bored and hungry and desperate for just some fresh air that by the time i got to driving the car didn't care um but the liberty walk m4 was just it was horrendous um and it sounded like a machine gun as well and i drove it around heathrow and i was terrified because it was around the time where like i think people were a little bit edgy with um terrorists and shootings and all of this and i'm driving this car around bright yellow liberty walk m4 and the m4 was a great car anyway but this modifications was too much like puts my car as like quite a subtle tasteful mod um but then i remember letting off the accelerator the first time and i was in the heathrow tunnel going to like t2 t3 and there was like police discoveries driving past like there was just like a constant convoy of police and it was just going oh my god get me out of this i was terrified oh wow yeah that springs to mind as a pretty awful half an hour of driving a car all right have you seen nick o 'learnards exposing this car dealer have you seen that i have not consumed everything so i'm not an expert but i did see a video where this avented rsv had a problem yeah um i have followed it loosely so i know the general parties that are involved i think was it Cole who summarized it quite well that there are three there are going to be three sides to the story um what are the three sides well his side dealer side in the truth is what he said I think right um but the thing is do you think it's right to go and expose someone who's sold your car and it's gone wrong on the internet it depends whether he's got a leg to stand on and I'm not convinced if you're buying a car that's worth as much as that car is worth, that he's not seen it, for starters.

1:21:26Right. Christ, like... So you think he might... Even the process that I'm going through now to buy a 100 grand car, I've already had three cars inspected. Yeah. And they weren't 100 grand. One of them was 55 grand, one of them was 60, and then one was 80. Every single one of them has gone on a ramp and been inspected by a specialist and been driven. because one thing the dealer will more often than not be happy for you to have the car inspected if they're not hiding anything yeah that's the first way that you can eradicate a problem like what this guy's dealing with um two you can also get a decent perspective of what the car's history is like whether it's lived outside whether it's lived in a garage whether the car's been clocked whether the car's had a good service history well maintained and third like it gives you the confidence if those two things are all matching up whether it's the right car to buy yeah so i've had these cars inspected a couple of them were dogs a couple of them was like proper they needed a lot of work they were they were well 20 year old italian supercars so the chances are they're gonna need some work i was more than happy to go into this car buying experience and journey needing a little bit of tlc on these cars so for him and i don't know the full story but as far as i'm aware he didn't have that car inspected and he didn't see it right so at that point if you're going in to the deep end and spending the best part of a quarter of a million pound on a car or even anything that you've not physically seen or at least inspected as to whether it is a good product some of the blame needs to land on him in my opinion yeah um because the dealer can do all of the work and all of the checks that might be required but at the same time if it's a seller a return car, he might have taken the owner's word on the car is solid.

1:23:08There's no engine light, which can easily be dialed out and coded out if he wanted to. But if you're selling a car on behalf of someone, you might just need to clean it every now and again, keep it on a trickle charge, maybe drive it every now and again. You might not know the gremlins that are underneath. You might not know that that car's being crashed. You might not know that that car's being clogged. And there are certain things that you can do as a dealer that will eradicate those problems. so maybe there are two sides to the story where the car's actually not as good as the owner said it is and the dealer's kind of just taking his word for it and then this guy's bought the car without inspecting it or without doing the right due diligence on whether it's a good product or not and they're somewhere in the middle where neither of them are really wanting to take the blame for it and the situation's a bit of a shit show yeah and then nico's good at blowing shit up on social media isn't it he's got that at that point if you've got the platform i have very much been in scenarios where i could have gone to my social media and exposed whoever is trying to screw me over why didn't scam me um purely because i would rather deal with it privately and my way of dealing with something like that privately if if someone has got me to a point where i'm so close to social media to try and get people aware of what's going on i'd rather deal with it privately or can just completely cut them off and then if i have a conversation with someone at an event or we're talking about a certain scenario oh why aren't you um why aren't you filming with that guy anymore or why aren't you doing anything with that i'll maybe explain why um but there was one time that i went to social media where i got scanned a car rental and did you you expose it on social media yeah i like i completely lost it because i just felt like they had completely ripped out all of my credibility and who I am as a person which is I'm very honest and I like to think like a well-respected straight transparent person and they basically tried to claim that I damaged the car but they only sent photos seven days after I'd returned the car I returned the car absolutely mint yeah a bit of dirt on it from the road and they took seven days to send me pictures of damage on the car and I was like you could have had that out hard three times since I've had it.

1:25:20So how are you getting away with that? Now, immediately taking the money, which is like 1 ,500 quid for a tiny little scuff on the boot of the car. And thankfully, through a friend who is in the car leasing world, knew the CEO, he said, message him on LinkedIn. So I messaged him on LinkedIn. He hadn't seen my Instagram stories at all. We jumped on a Zoom call. I told him everything. He launched a complete investigation and realized that that franchise in Switzerland had actually gone against the company's terms and conditions by taking so long to send me the photos. They refunded me the money straight away.

1:25:53Oh, wow. Nice. So sometimes the social media is useful. Yeah, like I tried to blow it up and I let a lot of my audience know what was going on because I felt like it was interesting consumer advice, but actually - And you were pissed. Yeah, I was fuming. The email that I sent back to the Swiss franchise. Oh my God. I didn't know I had it in me. um but then after that i had uh two other calls with the ceo and talked about how can i come in as like from the consumer side and look to stop this from happening yeah because it really annoyed me because it just cut me like straight open as if to be like you've been trying to cover up this damage yeah have you ever been on mark mccann's show no oh you should go on he does similar of things i'll connect you guys i don't know if you must know yeah no yeah i nearly bought one of his cars quite a while ago one of his aventadors but it never came through because covert came yeah yeah but he does quite a lot of that stuff as well and he does it in a good way yeah he's like a comes across a good honest guy not just trying to get clickbait yeah yeah all right all right paul this has been great thank you very much for coming thank you

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