Supercar Options
Discussion
Hi All
Ok, this is my first post here and i'm sure there are going to be some people doubting my predicament but i cannot help that, i'm looking for good solid advice based on others experiences.
Essentially, i'm a 23 year old guy who's always been heavily into cars. I'm from a very under-privelaged background and i got into computers at a young age. The reason im saying this from the outset is because i dont want people thinking i was born with a silver spoon in my mouth, and also because im very proud of what i have achieved. Due to my bonus structure at work i've earned in the last year close to 6 figures, and whilst it's been tempting to invest in a nice car beforehand, my other half has kept me on the straight and level in keeping my cash and my current car (Z4).
I've recently been contracted to a further 3 years with my existing company, which also includes a minimum 6 figure annual salary, which i believe now gives me the security to look at buying a supercar. I've been looking at either the ferrari 360 (which i've seen on ebay for between £45 and £70k and i could buy outright) or my preferred option which is the lamborghini gallardo spyder. I'd have to finance a proportion of this and would be able to pay a deposit of between £50k and £60k.
My questions are this:
1. Does anyone have any experience of BOTH these cars and can offer any feedback in terms of running costs, reliability, practicalities, and such like.
2. Insurance, who is going to insure me at 23 on a supercar. I've budgeted between £14k and £17k per year for this based on my age, i'm not sure wether this is being optimistic or not but the problem is, i cannot find anywhere that would even consider covering me. Would it be better to get a traders policy perhaps with entitlement to drive any car?
3. Finance options. If opting for the 360 i could pay cash for the car, if the gallardo i'd have to finance at least 60% of the car value, are there any recommended companies for in particular, supercar purchases.
I also went to a dealership recently and was completely ignored (presumably because of my age which in my opinion is completely understandable) but when i requested to test drive any of the cars i was told a £10,000 CASH (credit card not acceptable) deposit was required. Strangely enough, i don't carry £10,000 cash around with me and i'd just like to test a few cars before shelling out a hell of a lot of money.
Thanks in advance for all opinions and advice anyone can offer.
Ok, this is my first post here and i'm sure there are going to be some people doubting my predicament but i cannot help that, i'm looking for good solid advice based on others experiences.
Essentially, i'm a 23 year old guy who's always been heavily into cars. I'm from a very under-privelaged background and i got into computers at a young age. The reason im saying this from the outset is because i dont want people thinking i was born with a silver spoon in my mouth, and also because im very proud of what i have achieved. Due to my bonus structure at work i've earned in the last year close to 6 figures, and whilst it's been tempting to invest in a nice car beforehand, my other half has kept me on the straight and level in keeping my cash and my current car (Z4).
I've recently been contracted to a further 3 years with my existing company, which also includes a minimum 6 figure annual salary, which i believe now gives me the security to look at buying a supercar. I've been looking at either the ferrari 360 (which i've seen on ebay for between £45 and £70k and i could buy outright) or my preferred option which is the lamborghini gallardo spyder. I'd have to finance a proportion of this and would be able to pay a deposit of between £50k and £60k.
My questions are this:
1. Does anyone have any experience of BOTH these cars and can offer any feedback in terms of running costs, reliability, practicalities, and such like.
2. Insurance, who is going to insure me at 23 on a supercar. I've budgeted between £14k and £17k per year for this based on my age, i'm not sure wether this is being optimistic or not but the problem is, i cannot find anywhere that would even consider covering me. Would it be better to get a traders policy perhaps with entitlement to drive any car?
3. Finance options. If opting for the 360 i could pay cash for the car, if the gallardo i'd have to finance at least 60% of the car value, are there any recommended companies for in particular, supercar purchases.
I also went to a dealership recently and was completely ignored (presumably because of my age which in my opinion is completely understandable) but when i requested to test drive any of the cars i was told a £10,000 CASH (credit card not acceptable) deposit was required. Strangely enough, i don't carry £10,000 cash around with me and i'd just like to test a few cars before shelling out a hell of a lot of money.
Thanks in advance for all opinions and advice anyone can offer.
Piepiepie said:
Bangernomics.
Get a £400 Cavalier and buy a Barn Conversion.
At least, that's what i'd be doing.
I have a lovely house thank you. :-) I wouldn't be silly enough to consider spending that much cash on a supercar without already having a nice house, and my other half really wouldnt let me. :-)Get a £400 Cavalier and buy a Barn Conversion.
At least, that's what i'd be doing.
Go for the gallardo. But the manual. I'm told the e-gear 'boxes like going through clutches every 5k miles? Not sure how much truth is in this? But as you seem to be/will be earning a very comfortable amount, I can't see this being a problem unless it's a daily driver?! Having driven Ferrari F355's, F360's and F430's, the 360 is definitely my LEAST favourite, it just doesn't feel as special as a 355 nor as nice to drive as a 430. Just my 2p.
Well, my other half is insistant on an Audi RS4, we're looking at starting a family soon and she wants a "family" car. I do like the RS4's, i appreciate what you're saying re: seeing people driving supercars and thinking "cock".... i have to be honest in that i did the same not too many years ago, but i also have to be honest in saying it was complete jealousy. I've always wanted a supercar, i don't have many hobbies so to speak of and work long hours, and the only thing im really into is cars and always have been. As regards the worst 6 figure income post ever, i'll counter with the worst jealousy reply ever. Enjoy your Vauxhall Nova. :-)
paulmoonraker said:
Take home of 60'ish K after tax (assuming 100K). So you will be spending between 25-30% of your money on insurance.
-P
No, im on a basic salary and my comission payments are paid in share options which i immediately cash at the end of each month to avoid capital gains/income tax. This was arranged by the company lawyer in our meetings and he assures me it's completely legal and above board. In real terms it would be an income of close to £200,000 if paying tax. I work in new media, more specifically, affiliate management.-P
Have chat to the guys on the Ferrari/Lambo forum they'd let you know what to get! However, for what its worth (this is a little controversial) if you REALLY like driving....dont by a supercar 
Unless, however, you're a trackday regular, a very good driver and dont mind your £100,000 car having a few stone chips and scrapes along the way!
Unless, however, you're a trackday regular, a very good driver and dont mind your £100,000 car having a few stone chips and scrapes along the way!
Piepiepie said:
I suppose if you have the house, then fair enough.
Each to their own, but anyone i see driving a supercar, i just think cock. Its not jealousy either, i just dont see the point, other than to try and be a bit flash.
If i was minted i'd have a fast Saloon, C63, Rs6, M5, VXR8, etc.
That isn't what he asked though, congrats. For drama go for the gallardo spider, it's definitely more 'ageless' of the two, I think people mite perceive the 360 as a bit dated on comparison. I know a footballer who drives a gallardo (non spider) he insures through a specialist broker, if you have a decent bank manager/service they will steer you in the right direction. Each to their own, but anyone i see driving a supercar, i just think cock. Its not jealousy either, i just dont see the point, other than to try and be a bit flash.
If i was minted i'd have a fast Saloon, C63, Rs6, M5, VXR8, etc.
loudandprouduk said:
paulmoonraker said:
Take home of 60'ish K after tax (assuming 100K). So you will be spending between 25-30% of your money on insurance.
-P
No, im on a basic salary and my comission payments are paid in share options which i immediately cash at the end of each month to avoid capital gains/income tax. This was arranged by the company lawyer in our meetings and he assures me it's completely legal and above board. In real terms it would be an income of close to £200,000 if paying tax. I work in new media, more specifically, affiliate management.-P
... Honestly thou, you only live once so what ever buzzes you up paulmoonraker said:
Ok - so 10-15% then. I am just used to giving up 1.16% of mine to the 'insurance man' ... Honestly thou, you only live once so what ever buzzes you up
Oh i completely agree, but to be fair when i first passed my test i bought a Citroen Saxo VTR, i was earning at the time £12,000 per year and i paid £2,200 insurance, unfortunately it's one of those things that is a necessity and at my age, insurance is what it is, as it happens at the time the car cost me £1,950, and the insurance £2,200, that's why they make billions in net profit each year.... Honestly thou, you only live once so what ever buzzes you up loudandprouduk said:
paulmoonraker said:
Ok - so 10-15% then. I am just used to giving up 1.16% of mine to the 'insurance man' ... Honestly thou, you only live once so what ever buzzes you up
Oh i completely agree, but to be fair when i first passed my test i bought a Citroen Saxo VTR, i was earning at the time £12,000 per year and i paid £2,200 insurance, unfortunately it's one of those things that is a necessity and at my age, insurance is what it is, as it happens at the time the car cost me £1,950, and the insurance £2,200, that's why they make billions in net profit each year.... Honestly thou, you only live once so what ever buzzes you up I don't want to offend but I can't see it ending well on any level
But good luck with it anyway
loudandprouduk said:
insurance is what it is, as it happens at the time the car cost me £1,950, and the insurance £2,200, that's why they make billions in net profit each year.
And of course it doesn't matter that the smallest prang with your £1.950 car could cost insurance company thousands... I'm sure that they will be very happy and surprised to hear that they make billions every year.
And get something more imaginative
:
If you get a kick from driving, you're on that much money and your missus wants to start a family soon (presuming you do to) then in your situation I'd go for two cars.
Firstly, a Caterham or TVR for driving enjoyment and respect in terms of motoring choice. Say an R500 or a Sagaris. Secondly, some sort of high end, fast saloon or estate car, such as an RS4/6, BMW M3/M5, or something a little different like a Chrysler SRT-8 estate.
If I were in the market for a supercar it would have to be the Lambo, mind
What does your OH drive?
Firstly, a Caterham or TVR for driving enjoyment and respect in terms of motoring choice. Say an R500 or a Sagaris. Secondly, some sort of high end, fast saloon or estate car, such as an RS4/6, BMW M3/M5, or something a little different like a Chrysler SRT-8 estate.
If I were in the market for a supercar it would have to be the Lambo, mind
What does your OH drive?
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