Shmee150 reveals ridiculous cost of insuring his Ford GT
YouTuber and supercar collector extraordinaire Shmee150 is known for his incredible garage of exotic cars. In his October 13 video, he reveals some surprising news about the cost of living with his Ford GT supercar.
The Ford GT cost around $500,000 when new, so you’d be forgiven for thinking that the day-to-day maintenance costs would be astronomical too. According to owner Tim (Shmee150) however, they aren’t quite as bad as you expect.
Given that the GT is build by Ford, its hardly surprising that it is often referred to as a ‘blue-collar supercar.’
Though, with its purchase price of half a million dollars, it’s hardly cheap.
Being produced by Ford does have its advantages though, as Shmee explains in his video. Supercar ownership costs “vary hugely from one car to the next” according to Tim, and the GT is no exception.
Servicing for the Ford GT is on a very strict schedule of once per year or every 5000 miles. This means that drivers that make use of their GTs risk paying for several services each year, though thankfully the costs are impressively low.
Thanks to being a Ford product, servicing can be done at Ford dealerships rather than requiring specialist garages. Costing “around 500 bucks” per go, it’s a stark contrast to many supercars such as Ferraris and Porsches that run into four-figure prices for each service.
The Ford GT also comes with an impressive three-year warranty package, and can have a majority of its minor work done at Ford dealerships as per its servicing requirements. This saves on shipping the car to-and-from specialists, which in itself is a costly part of typical supercar ownership.
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As Shmee says, for day-to-day life with the GT “there isn’t actually that much to worry about… because it’s a Ford. Most things [consumables] are quite reasonable.”
Unfortunately, that’s where the cheap ownership of the GT ends. Due to the incredible performance capabilities of the car, specific Michelin tires are required which came at a “heavier price” than Shmee expected.
Insurance is a big kicker too. Tim admits that this is “by far the biggest cost for the car.” In his first year, he paid a staggering £10,000 ($13,000) for insurance on the GT. The second year wasn’t much better, coming down by £2000 to £8000/year ($10,400.)
So while day-to-day life with the Ford GT is probably much cheaper than many would expect, just getting it insured to drive on the roads costs a monumental amount; At least servicing is cheap!