Can I afford to run these cars?
Discussion
Audemars said:
£1.5k per month will barely cover a ford fiesta. I wouldn't buy any of tbe cars you mentioned with £5k per month spending money
You really do try to troll every opportunity don't you?Or your a complete idiot based on your posts. I will give you the benefit of saying you are trolling again.
But try a little less obvious, you do get some bites however.
I know I said go for it initially, but spending you Pre-tax salary on a car is a pretty bad idea financially.
I'm unsure whether to commit 20% to my 'toy'!
Do you not save / pay the mortgage etc? Can you comfortably carry on whilst having the car.
Perhaps a) save a deposit and b) save a contingency £3-5k otherwise if anything does go wrong (out of warranty) at least you should have it covered an it won't ruin the experience!
I'm unsure whether to commit 20% to my 'toy'!
Do you not save / pay the mortgage etc? Can you comfortably carry on whilst having the car.
Perhaps a) save a deposit and b) save a contingency £3-5k otherwise if anything does go wrong (out of warranty) at least you should have it covered an it won't ruin the experience!
I am not trolling. A salary of £100k can not afford an R8 unless you want to remain in an average house with rubbish furniture. Cash available for car is not salary minus mortgage and basic bills.
Life skills needs to be taught at schools.
Of course this is a petrol head forum which means people with no money skills forum.
Life skills needs to be taught at schools.
Of course this is a petrol head forum which means people with no money skills forum.
Edited by Audemars on Thursday 28th July 21:14
Audemars said:
I am not trolling. A salary of £100k can not afford an R8 unless you want to remain in an average house with rubbish furniture. Cash available for car is not salary minus mortgage and basic bills.
Life skills needs to be taught at schools.
I totally agree.Life skills needs to be taught at schools.
I'm not bragging in anyway, but I'm 30 with a salary of circa £120k and even I wouldn't touch any of these cars at this point in my life.
These things make sense when you're in your 40s, having paid off most of your mortgage, have a nice pension, possibly have another house and have enough in the bank where spending £40k shouldn't need a loan.
Just my opinion. But if you've got loaded parents that have bought you a house, go for it.
Audemars said:
I am not trolling. A salary of £100k can not afford an R8 unless you want to remain in an average house with rubbish furniture. Cash available for car is not salary minus mortgage and basic bills.
Life skills needs to be taught at schools.
Of course this is a petrol head forum which means people with no money skills forum.
Just for you, out he comes again :Life skills needs to be taught at schools.
Of course this is a petrol head forum which means people with no money skills forum.
Edited by Audemars on Thursday 28th July 21:14
And do you have any pictures of average houses with rubbish furniture ? Could you take a couple for us all ?
Edited by MDMA . on Thursday 28th July 21:22
MDMA . said:
Just for you, out he comes again :
And do you have any pictures of average houses with rubbish furniture ? Could you take a couple for us all ?
I know you think you're funny, but if the OP lives in London its a true statement..And do you have any pictures of average houses with rubbish furniture ? Could you take a couple for us all ?
Edited by MDMA . on Thursday 28th July 21:22
Average house price is around £900,000...
Audemars said:
I am not trolling. A salary of £100k can not afford an R8 unless you want to remain in an average house with rubbish furniture. Cash available for car is not salary minus mortgage and basic bills.
Life skills needs to be taught at schools.
As does basic mathematics it would appear.Life skills needs to be taught at schools.
A 100K salary equates to approx. 5.5K take home a month so exactly how much of that in your 'view' would you need to spent to afford a good house and furniture?
Audemars said:
I am not trolling. A salary of £100k can not afford an R8 unless you want to remain in an average house with rubbish furniture. Cash available for car is not salary minus mortgage and basic bills.
Life skills needs to be taught at schools.
Of course this is a petrol head forum which means people with no money skills forum.
What's wrong with an average house with 'rubbish' furniture?Life skills needs to be taught at schools.
Of course this is a petrol head forum which means people with no money skills forum.
I'm happy with a little 3 bed newbuild stuffed full of vintage / retro furniture bought for buttons on eBay. However, I'd have to take an extra dose of my angina pills if I was spending £40k on a car. I scaled back such ideas a few years ago and bought a 986S instead.
Jiebo said:
I know you think you're funny, but if the OP lives in London its a true statement..
Average house price is around £900,000...
Luckily not everyone lives in that hellish place, circa 120k is pretty low / average in London, go elsewhere and you live like a king... it is all relative.Average house price is around £900,000...
It's all well and good saying max your pension, ISA and what not; but in your 20's... you may well be comfortable then in your 40's but you really need to enjoy your youth.
I have a simple philosophy, I earn 'x' pay all my bills etc and the left over is split 50/50; 50 for mortgage over payments / saving and 50 to enjoy.
Recently two colleagues have lost their wives (under 40) and another has a child with some horrific disease...
You just need to be sensible, no point being the richest man in the graveyard an you never know when you will end up in there.
Trabi601 said:
I think it all depends on what you mean when you say there's no mortgage to worry about.
If you've bought and paid for your house, then go for it.
If it's because you live with your mum, then perhaps not.
Why?If you've bought and paid for your house, then go for it.
If it's because you live with your mum, then perhaps not.
Whilst I agree that on the OP's income this looks like over extension no matter what his commitments, if he's happy with his situation and wants to enjoy himself who are you to tell him that's wrong?
I love the stereotypical 'you must have a mortgage and pay that off first' BS that always gets spouted in threads like this by the resident part time financial advisors.
OP. take your time over this and don't let the excitement of the purchase push you into a bad decision. Circumstances can and do change very quickly.
OP, Two schools of thought.....
1) No risk, it's all about your fiscal security in your 90s.... Else you're a moron
2) You could be dead in a week, so do what you want now and sort the future in the future....Else you're a moron.
Of course these polarized perspectives both have merit and you have to make you're own decisions about financial planning and how much you're prepared to risk or lose on what is, I assume, a major interest of yours.
I don't think the question is really 'can you afford these cars?' But I think the answer to that is yes, but not with a huge amount of safety net.... I think the question is 'will the occasional £5k bill ruin the pleasure in owning one?'
I say that as all of these cars are capable of giving a very dear service and repair (it's a shock when a consumables service costs more than an engine rebuild on a more modest car). If it were me, I'd probably be dropping down a little in how exotic your next car will be and keep a little more headroom so that you don't start resenting what should be a joyous thing to own. Plenty of great suggestions for lovely cars on this thread so far.
However, if you aren't to worried about that and really are happy to commit the £1.5K a month, I think you can run one of these and fair play to you.... Make sure you do a readers cars thread!
1) No risk, it's all about your fiscal security in your 90s.... Else you're a moron
2) You could be dead in a week, so do what you want now and sort the future in the future....Else you're a moron.
Of course these polarized perspectives both have merit and you have to make you're own decisions about financial planning and how much you're prepared to risk or lose on what is, I assume, a major interest of yours.
I don't think the question is really 'can you afford these cars?' But I think the answer to that is yes, but not with a huge amount of safety net.... I think the question is 'will the occasional £5k bill ruin the pleasure in owning one?'
I say that as all of these cars are capable of giving a very dear service and repair (it's a shock when a consumables service costs more than an engine rebuild on a more modest car). If it were me, I'd probably be dropping down a little in how exotic your next car will be and keep a little more headroom so that you don't start resenting what should be a joyous thing to own. Plenty of great suggestions for lovely cars on this thread so far.
However, if you aren't to worried about that and really are happy to commit the £1.5K a month, I think you can run one of these and fair play to you.... Make sure you do a readers cars thread!
InitialDave said:
Audemars said:
Of course this is a petrol head forum which means people with no money skills forum.
If your experience and knowledge leads you to believe that someone can't afford a fiesta with £1500 monthly disposable income, you're in no position to discuss money skills.Gassing Station | General Gassing | Top of Page | What's New | My Stuff