Can I afford to run these cars?
Discussion
Guvernator said:
Not sure where you are getting your info from but a 911 is probably one of the cheapest junior supercars to run, unless you are unlucky and have an engine failure of course but for £40k you would be in 997 gen 2 territory where the engine issues where sorted. The R8 might be similar costs. I'd reckon on a Maserati or Conti GT costing you more to run than those two though.
The other cost to factor in which is sometimes overlooked and probably the most important one is depreciation. How long do you plan to keep this car for? A badly depreciating car could loose you £10k over a couple of years and make any running cost concerns look silly in comparison.
+1The other cost to factor in which is sometimes overlooked and probably the most important one is depreciation. How long do you plan to keep this car for? A badly depreciating car could loose you £10k over a couple of years and make any running cost concerns look silly in comparison.
Wise words.
jamieduff1981 said:
OP - you probably could afford the cars.
I'm going to suggest you don't though. Although £42k/year is a salary many would love to have, it's still not great to be honest. You could roll around in an exotic car, but since you dismissed one or two suggestions for being too conservative, it sounds as though you want a bit of flash.
I'm going to suggest you'll look a bit of a prat pulling in to the work's car park in a Bentley earning a fairly modest £42k/year. Flash works well when you have a enough money that when you want a nice photograph of your Bentley, you don't need to drive it out of your own property to get it. Your clothes and food choices should also be fairly good quality. I don't mean that you need a Saville Row suit to drive a Bentley, but your T.M. Lewin suit should be f
king tailored to fit you properly rather than one from Marks & Spencer.
That all might sound a bit prattish - it's not meant to. What I'm trying to tell you is that the vast majority will not be impressed by someone who has clearly compromised in most areas to drive an exotic car around. You're not wealthy. You may be in the future, but you're not wealthy yet.
You can have something unusual without trying to look flash. People can at least respect that you have an expensive hobby, but seriously, cruising London in a Bentley trying to look like Billy Bigballs on £42k/year is not where you want to be.
Enjoyed reading this thread and some of the classic replies but tbh this nails it for me.I'm going to suggest you don't though. Although £42k/year is a salary many would love to have, it's still not great to be honest. You could roll around in an exotic car, but since you dismissed one or two suggestions for being too conservative, it sounds as though you want a bit of flash.
I'm going to suggest you'll look a bit of a prat pulling in to the work's car park in a Bentley earning a fairly modest £42k/year. Flash works well when you have a enough money that when you want a nice photograph of your Bentley, you don't need to drive it out of your own property to get it. Your clothes and food choices should also be fairly good quality. I don't mean that you need a Saville Row suit to drive a Bentley, but your T.M. Lewin suit should be f
king tailored to fit you properly rather than one from Marks & Spencer.That all might sound a bit prattish - it's not meant to. What I'm trying to tell you is that the vast majority will not be impressed by someone who has clearly compromised in most areas to drive an exotic car around. You're not wealthy. You may be in the future, but you're not wealthy yet.
You can have something unusual without trying to look flash. People can at least respect that you have an expensive hobby, but seriously, cruising London in a Bentley trying to look like Billy Bigballs on £42k/year is not where you want to be.
OP - you could certainly afford the car, quite a few replies have stated the realistic running costs of your choices. If cars are your absolute passion, you've lusted after an R8 (or whatever it may be) since its release then go for it.
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Live life how you want to, you earn a decent salary (certainly above the national average) but I'm not convinced now its the best time to be getting such an expensive car.
R8Steve said:
SuperchargedVR6 said:
R8Steve said:
SuperchargedVR6 said:
iphonedyou said:
SuperchargedVR6 said:
Care to elaborate?
He's one of our resident trolls. He earns 'six figs' and could buy The Shard without resorting to finance like plebs would. His current account statement would make Qatar's sovereign wealth fund look like my bank account a week from payday.
I didn't notice the low post count either, tsk. It's late in the day.I did initially think £42K PA, 30 years old and R8/Bentley/Maserati smelled a bit fishy!
On another note though, i had the R8 at that age and made a bit less than that at the time and found it entirely manageable.
You're lucky then because I earn a fair chunk more than the OP and I can't afford an R8!
Some of the numbers been thrown about in here are laughable. Need £120k+ salary, mortgage paid off and 'maybe a second house' before you can consider buying a second hand Audi? Seriously?
You do realise that it's basically the equivalent of buying a new BMW 330 with a few options right?
I like to have some spare cash at the end of each month for contingency. For example, my boiler has gone and my shower needs redoing because of a long term leak. That's about £3k's worth of work I don't want to put on the credit card. That is also tyres, brakes and a minor service on an R8. See where I'm coming from?
In fact a mate bought an R8 for £45K a year or so ago and had to spend a tenth of that on it in the first month of ownership. He earns considerably more than I do, but he got rid of it for something cheaper to live with, and also less 'raw' for the daily grind.
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? OpulentBob said:
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? OP, If its your top passion then go for it, I would just make sure your girlfriend (as mentioned in earlier post) is cool with it too !!
If you have to find a couple of grand for a repair which means you cant go on holiday (or whatever) because you cant afford it.
I know too many people who bought "cheap" 355's, 550's 911's etc and ended up saying they were unreliable or crap because they had to spend loads on them ... if you buy a cheap one in the first place then expect bills ( unless your very lucky !!)
I would also not underestimate the impact it could have on you at work etc etc
I ran TVR's and 911's when I was in my mid 20's and was told by the CEO of one company I would loose my contact if I didn't sell my 911 as it was a better car than his !!! He didn't like my fiat Panda either that I bought to come to work in after that !!
I am now a director in my 40's and I still wouldn't go to a client in a flash car, have a dull A6 for work.
Never underestimate the small mildness of others !!
Phib
If you have to find a couple of grand for a repair which means you cant go on holiday (or whatever) because you cant afford it.
I know too many people who bought "cheap" 355's, 550's 911's etc and ended up saying they were unreliable or crap because they had to spend loads on them ... if you buy a cheap one in the first place then expect bills ( unless your very lucky !!)
I would also not underestimate the impact it could have on you at work etc etc
I ran TVR's and 911's when I was in my mid 20's and was told by the CEO of one company I would loose my contact if I didn't sell my 911 as it was a better car than his !!! He didn't like my fiat Panda either that I bought to come to work in after that !!
I am now a director in my 40's and I still wouldn't go to a client in a flash car, have a dull A6 for work.
Never underestimate the small mildness of others !!
Phib
Edited by phib on Friday 29th July 09:58
iphonedyou said:
Woo! I feel honoured!
OP - do you still live at home? I ask advisedly, not looking to take the piss.
Interesting choice of words people use, not taking the piss directly but where is "home" I live at home as well, my home. I used to live at my parents house and that was then my home. Always puzzles me when people say that OP - do you still live at home? I ask advisedly, not looking to take the piss.
SuperchargedVR6 said:
OpulentBob said:
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? There are genuine cars out there if you shop around and take your time, go for full main dealer service ideally with extended warranty, ideally buy privately to avoid high dealer mark-ups and also get a look at who has actually owned the car (if they have only had it 5 minutes and are selling, they know there are expensive problems brewing so do not listen to the story, don't forget that even brakes, pads, tyres will all add up to a few thousand), enjoy for a couple of years and you will have had one of life's experiences.
These cars are out there, I recently sold my 911 which was totally genuine, 9 years old with FPSH & warranty, ticked all these boxes and was a great buy at a good price.
These cars are out there, I recently sold my 911 which was totally genuine, 9 years old with FPSH & warranty, ticked all these boxes and was a great buy at a good price.
SuperchargedVR6 said:
OpulentBob said:
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? I'm not saying you're wrong, and it's probably my naivity, but it wouldn't phase me one bit to see someone turn up in a flash car. In fact I'd admire him for having the balls to do it.
SuperchargedVR6 said:
OpulentBob said:
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? I drive a pretty average 5 year old BMW and I get numerous comments about "how can you afford that" which is total rubbish as my car invariably costs less a month than their lease hire Ford Fiesta but most of the population knows nothing about used car values.
I bet, if the OP put a cheap private plate on the Continental the vast majority would assume it to be a £100k+ brand new car and not the second hand "bargain" it is...and I would hazard a guess that this is why the OP wants the car in the first place...to appear flash, not for driving nirvana (they wouldn't be considering an old Continental for a start).
Edited by rockford22 on Friday 29th July 10:20
OpulentBob said:
SuperchargedVR6 said:
OpulentBob said:
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? I'm not saying you're wrong, and it's probably my naivity, but it wouldn't phase me one bit to see someone turn up in a flash car. In fact I'd admire him for having the balls to do it.
In the private sector, it can give the unjustified yet ever present impression that the customer is being over-charged. Even the fear of giving that impression is powerful - therefore most people interested in maximising their income whether personally or for their business wish to appear comfortable but not extravagant. Extravagance in this country is associated with excess money.
SuperchargedVR6 said:
R8Steve said:
SuperchargedVR6 said:
R8Steve said:
SuperchargedVR6 said:
iphonedyou said:
SuperchargedVR6 said:
Care to elaborate?
He's one of our resident trolls. He earns 'six figs' and could buy The Shard without resorting to finance like plebs would. His current account statement would make Qatar's sovereign wealth fund look like my bank account a week from payday. I didn't notice the low post count either, tsk. It's late in the day.I did initially think £42K PA, 30 years old and R8/Bentley/Maserati smelled a bit fishy!
On another note though, i had the R8 at that age and made a bit less than that at the time and found it entirely manageable.
You're lucky then because I earn a fair chunk more than the OP and I can't afford an R8!
Some of the numbers been thrown about in here are laughable. Need £120k+ salary, mortgage paid off and 'maybe a second house' before you can consider buying a second hand Audi? Seriously?
You do realise that it's basically the equivalent of buying a new BMW 330 with a few options right?
I like to have some spare cash at the end of each month for contingency. For example, my boiler has gone and my shower needs redoing because of a long term leak. That's about £3k's worth of work I don't want to put on the credit card. That is also tyres, brakes and a minor service on an R8. See where I'm coming from?
In fact a mate bought an R8 for £45K a year or so ago and had to spend a tenth of that on it in the first month of ownership. He earns considerably more than I do, but he got rid of it for something cheaper to live with, and also less 'raw' for the daily grind.
I understand what you're saying and if you don’t feel comfortable buying and running one there’s nothing i can say that can change that nor would i try to.
To give you a rough breakdown of costs for me though
Purchase price - £48k (Traded in a 996 turbo and financed the remaining with a personal loan over 3 years – approx cost £450 pm)
Mileage over 5 years approx 38k, in that time i’ve had to do the following –
4 services (2 minor, 2 major - £300/£650) - £1900
2 sets of tyres - £1600
Front disks/pads - £800
So that’s £4300 total in maintenance over 5 years (i’ve not included fuel/tax/insurance as that applies to any car) so that’s a grand total of £860 a year! Or appox £70pm
Depreciation – Most clean cars going for a good bit over £40k but call it £40k so depreciation total £8k
Total cost of ownership over 5 years - £12300 or £2460pa/£205pm
So to answer the question again – can you afford to run one on £1500 a month? Ummm, yes.
jamieduff1981 said:
OpulentBob said:
SuperchargedVR6 said:
OpulentBob said:
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? I'm not saying you're wrong, and it's probably my naivity, but it wouldn't phase me one bit to see someone turn up in a flash car. In fact I'd admire him for having the balls to do it.
In the private sector, it can give the unjustified yet ever present impression that the customer is being over-charged. Even the fear of giving that impression is powerful - therefore most people interested in maximising their income whether personally or for their business wish to appear comfortable but not extravagant. Extravagance in this country is associated with excess money.
OpulentBob said:
SuperchargedVR6 said:
OpulentBob said:
rockford22 said:
I think you do need to consider the image of driving around in something flash though. Everyone will tell you to ignore the image and drive what you like which is certainly true but at 31 and on £42k p/a to rock up at the work car park in a Bentley Continental doesn't give a great impression to be honest and may get some people's backs up.
Genuine, unloaded question - why would it get people's backs up? One of my juniors has an E-Type jag which he inherited from his father, he runs that in to work once a month or so, people admire it but there is no resentment. Just piss-taking that he's from a posh family. What's wrong with the impression of a Bentley? I'm not saying you're wrong, and it's probably my naivity, but it wouldn't phase me one bit to see someone turn up in a flash car. In fact I'd admire him for having the balls to do it.
I've seen RS7s, Mustangs, Maseratis, 911s and all manner of tasty motors in the guest spaces over the years. They certainly don't belong to any of the 'workforce'!I'm happy to blend in with the rest of the plebs in my MK5 Golf!
Forget other people. Focus on what you want and enjoy it.
But bear the costs in mind. I'm not talking about services, tyres, clutches, fuel, etc. Think about having a war chest for when things go wrong. Cars like this can nuke your wallet with no warning. I've heard of £10k bills to fix the loom on a Bentley. That is before anything mechanical and expensive lets go. So personally I'd not feel comfortable running one unless I had some proper wedge set aside ready to be spent. If you have, crack on!
But bear the costs in mind. I'm not talking about services, tyres, clutches, fuel, etc. Think about having a war chest for when things go wrong. Cars like this can nuke your wallet with no warning. I've heard of £10k bills to fix the loom on a Bentley. That is before anything mechanical and expensive lets go. So personally I'd not feel comfortable running one unless I had some proper wedge set aside ready to be spent. If you have, crack on!
R8Steve said:
The last part of that post wasn't directed at you so apologies if you thought it did, it was more directed at the self certified 100k+ multiple home owners that seem to think Fiestas are dearer to run than the average national wage
I understand what you're saying and if you don’t feel comfortable buying and running one there’s nothing i can say that can change that nor would i try to.
To give you a rough breakdown of costs for me though
Purchase price - £48k (Traded in a 996 turbo and financed the remaining with a personal loan over 3 years – approx cost £450 pm)
Mileage over 5 years approx 38k, in that time i’ve had to do the following –
4 services (2 minor, 2 major - £300/£650) - £1900
2 sets of tyres - £1600
Front disks/pads - £800
So that’s £4300 total in maintenance over 5 years (i’ve not included fuel/tax/insurance as that applies to any car) so that’s a grand total of £860 a year! Or appox £70pm
Depreciation – Most clean cars going for a good bit over £40k but call it £40k so depreciation total £8k
Total cost of ownership over 5 years - £12300 or £2460pa/£205pm
So to answer the question again – can you afford to run one on £1500 a month? Ummm, yes.
Good post, this is pretty much the way I work out running costs. I worked out a few years back that a Ferrari 360 is cheaper than a new 320D over 3years and 18,000 miles. Looking at resale prices now, the 360 would've actually made you money I understand what you're saying and if you don’t feel comfortable buying and running one there’s nothing i can say that can change that nor would i try to.
To give you a rough breakdown of costs for me though
Purchase price - £48k (Traded in a 996 turbo and financed the remaining with a personal loan over 3 years – approx cost £450 pm)
Mileage over 5 years approx 38k, in that time i’ve had to do the following –
4 services (2 minor, 2 major - £300/£650) - £1900
2 sets of tyres - £1600
Front disks/pads - £800
So that’s £4300 total in maintenance over 5 years (i’ve not included fuel/tax/insurance as that applies to any car) so that’s a grand total of £860 a year! Or appox £70pm
Depreciation – Most clean cars going for a good bit over £40k but call it £40k so depreciation total £8k
Total cost of ownership over 5 years - £12300 or £2460pa/£205pm
So to answer the question again – can you afford to run one on £1500 a month? Ummm, yes.
StottyEvo said:
R8Steve said:
The last part of that post wasn't directed at you so apologies if you thought it did, it was more directed at the self certified 100k+ multiple home owners that seem to think Fiestas are dearer to run than the average national wage
I understand what you're saying and if you don’t feel comfortable buying and running one there’s nothing i can say that can change that nor would i try to.
To give you a rough breakdown of costs for me though
Purchase price - £48k (Traded in a 996 turbo and financed the remaining with a personal loan over 3 years – approx cost £450 pm)
Mileage over 5 years approx 38k, in that time i’ve had to do the following –
4 services (2 minor, 2 major - £300/£650) - £1900
2 sets of tyres - £1600
Front disks/pads - £800
So that’s £4300 total in maintenance over 5 years (i’ve not included fuel/tax/insurance as that applies to any car) so that’s a grand total of £860 a year! Or appox £70pm
Depreciation – Most clean cars going for a good bit over £40k but call it £40k so depreciation total £8k
Total cost of ownership over 5 years - £12300 or £2460pa/£205pm
So to answer the question again – can you afford to run one on £1500 a month? Ummm, yes.
Good post, this is pretty much the way I work out running costs. I worked out a few years back that a Ferrari 360 is cheaper than a new 320D over 3years and 18,000 miles. Looking at resale prices now, the 360 would've actually made you money I understand what you're saying and if you don’t feel comfortable buying and running one there’s nothing i can say that can change that nor would i try to.
To give you a rough breakdown of costs for me though
Purchase price - £48k (Traded in a 996 turbo and financed the remaining with a personal loan over 3 years – approx cost £450 pm)
Mileage over 5 years approx 38k, in that time i’ve had to do the following –
4 services (2 minor, 2 major - £300/£650) - £1900
2 sets of tyres - £1600
Front disks/pads - £800
So that’s £4300 total in maintenance over 5 years (i’ve not included fuel/tax/insurance as that applies to any car) so that’s a grand total of £860 a year! Or appox £70pm
Depreciation – Most clean cars going for a good bit over £40k but call it £40k so depreciation total £8k
Total cost of ownership over 5 years - £12300 or £2460pa/£205pm
So to answer the question again – can you afford to run one on £1500 a month? Ummm, yes.
R8Steve said:
SuperchargedVR6 said:
R8Steve said:
SuperchargedVR6 said:
R8Steve said:
SuperchargedVR6 said:
iphonedyou said:
SuperchargedVR6 said:
Care to elaborate?
He's one of our resident trolls. He earns 'six figs' and could buy The Shard without resorting to finance like plebs would. His current account statement would make Qatar's sovereign wealth fund look like my bank account a week from payday. I didn't notice the low post count either, tsk. It's late in the day.I did initially think £42K PA, 30 years old and R8/Bentley/Maserati smelled a bit fishy!
On another note though, i had the R8 at that age and made a bit less than that at the time and found it entirely manageable.
You're lucky then because I earn a fair chunk more than the OP and I can't afford an R8!
Some of the numbers been thrown about in here are laughable. Need £120k+ salary, mortgage paid off and 'maybe a second house' before you can consider buying a second hand Audi? Seriously?
You do realise that it's basically the equivalent of buying a new BMW 330 with a few options right?
I like to have some spare cash at the end of each month for contingency. For example, my boiler has gone and my shower needs redoing because of a long term leak. That's about £3k's worth of work I don't want to put on the credit card. That is also tyres, brakes and a minor service on an R8. See where I'm coming from?
In fact a mate bought an R8 for £45K a year or so ago and had to spend a tenth of that on it in the first month of ownership. He earns considerably more than I do, but he got rid of it for something cheaper to live with, and also less 'raw' for the daily grind.
I understand what you're saying and if you don’t feel comfortable buying and running one there’s nothing i can say that can change that nor would i try to.
To give you a rough breakdown of costs for me though
Purchase price - £48k (Traded in a 996 turbo and financed the remaining with a personal loan over 3 years – approx cost £450 pm)
Mileage over 5 years approx 38k, in that time i’ve had to do the following –
4 services (2 minor, 2 major - £300/£650) - £1900
2 sets of tyres - £1600
Front disks/pads - £800
So that’s £4300 total in maintenance over 5 years (i’ve not included fuel/tax/insurance as that applies to any car) so that’s a grand total of £860 a year! Or appox £70pm
Depreciation – Most clean cars going for a good bit over £40k but call it £40k so depreciation total £8k
Total cost of ownership over 5 years - £12300 or £2460pa/£205pm
So to answer the question again – can you afford to run one on £1500 a month? Ummm, yes.
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