What salary level
Discussion
I would very much like to own a Murci at some point (an F430 F1 also appeals for a bit less money). Assuming bottom book retail (which currently seems to be about £80k for a Murci and £75k for an F430 F1), would a 6-figure annual salary generally be considered as being required to comfortably own either of these cars (together with an associated 'comfortable' lifestyle... not talking about living in a bedsit in order to afford the car! Also assume another fairly decent car as a daily driver).
I know it's a 'how long is a piece of string' kind of question, as personal circumstances play such a big role in things, but just curious to know people's views.
I know it's a 'how long is a piece of string' kind of question, as personal circumstances play such a big role in things, but just curious to know people's views.
ian_uk1975 said:
together with an associated 'comfortable' lifestyle
Clearly is variable, but consider this, for a nice girl they see the boy with the Lambo and living at home like a person who stuffs a rolled up sock in their pants...looks good from a distance...but when its all said and done...its all show and no go...Personally I would concentrate on a nice pad first...then car. You can get shockingly nice cars for relatively little money, and you can drive them every day.
You certainly could own one of the cars you mention on a salary of £100k or less - in fact I know people who do. It depends on what sacrifices you are prepared to make. It also depends how long you have been earning at this level.
I would agree it is far better to build up to a Ferrari by starting with less expensive fun cars - many of us on here (me included) started with TVRs which look good, sound great and can be picked up and run fairly cheaply.
I would also set your initial supercar sights a little lower - a Ferrari 360 can be bought for half the price of a 430 (and won't depreciate as badly) - it will still be a Ferrari and you'd only need to get your salary to £60-80k
I would agree it is far better to build up to a Ferrari by starting with less expensive fun cars - many of us on here (me included) started with TVRs which look good, sound great and can be picked up and run fairly cheaply.
I would also set your initial supercar sights a little lower - a Ferrari 360 can be bought for half the price of a 430 (and won't depreciate as badly) - it will still be a Ferrari and you'd only need to get your salary to £60-80k
AJSG said:
ian_uk1975 said:
together with an associated 'comfortable' lifestyle
Clearly is variable, but consider this, for a nice girl they see the boy with the Lambo and living at home like a person who stuffs a rolled up sock in their pants...looks good from a distance...but when its all said and done...its all show and no go...Personally I would concentrate on a nice pad first...then car. You can get shockingly nice cars for relatively little money, and you can drive them every day.
A rule of thumb I use is your car normally represents 10% of the value of your home. Therefore you need a home first - that you actually own!
To be honest, I am not so sure that you can have a 'comfortable' lifestyle and comfortably affoard the cars you mention. IMHO, you might get away with a reasonable standard of living and hope that nothing serious goes wrong with the car...Personally, I would rather not have a car that could potentially force me to make life choices...Take the advice of others and get a property first, then go for the car. Good luck
I don't understand this kind of question, really. I think it is much better to concentrate on your career and making it succesful than targeting a certain number to get a certain something. You should buy your toys with what you can afford after you've done the proper math. Whether you end up with a Griff, Murcie or Zonda R is all down to the choices you make, your personal lifestyle and what you earn.
Just work hard, and enjoy the rewards, whether it's a Cooper S or a new Veyron SS. And save up as well, make sure you can cover for a rainy day as we all get them.
Onno
Just work hard, and enjoy the rewards, whether it's a Cooper S or a new Veyron SS. And save up as well, make sure you can cover for a rainy day as we all get them.
Onno
Think I need to clarify as I think some replies suggest stick and wrong end...
1) I'm not living with my parents! lol
2) I didn't say I'm earning £100k... I'm asking if £100k is generally considered an 'entry point' for the cars I mentioned. If not, what would you guys consider do be entry level income.
3) I've already owned a few nice cars (including a 355) and I'm not a young guy just starting out on the car ownership ladder with grandiose aspirations (I'm 36, actually... bit of an old git).
4) I currently own a house which I'm renting out with about 95k owing (could pay it off, but don't see the point with the virtually interest-free loans available courtesty of the BoE at present). I live in a rented house worth £400k and will be looking to move into another rented house worth ~£750k if all goes to plan. I see renting as superb value in the current market of near zero growth (NOTE: I don't want to turn this thread into a discussion around mortgages!)
The more I think about my question, the more I realise it's impossible to really answer as so many factors come into play... finance the car rather than buy outright, size of mortgage and other out-goings, etc. Just sticking a finger in the air really to see what people's perceptions are.
1) I'm not living with my parents! lol
2) I didn't say I'm earning £100k... I'm asking if £100k is generally considered an 'entry point' for the cars I mentioned. If not, what would you guys consider do be entry level income.
3) I've already owned a few nice cars (including a 355) and I'm not a young guy just starting out on the car ownership ladder with grandiose aspirations (I'm 36, actually... bit of an old git).
4) I currently own a house which I'm renting out with about 95k owing (could pay it off, but don't see the point with the virtually interest-free loans available courtesty of the BoE at present). I live in a rented house worth £400k and will be looking to move into another rented house worth ~£750k if all goes to plan. I see renting as superb value in the current market of near zero growth (NOTE: I don't want to turn this thread into a discussion around mortgages!)
The more I think about my question, the more I realise it's impossible to really answer as so many factors come into play... finance the car rather than buy outright, size of mortgage and other out-goings, etc. Just sticking a finger in the air really to see what people's perceptions are.
FWIW. I love cars, always have, they are my hobby, my passion. I also love expensive watches, suits, holidays and houses. Thing is I go without a hell of a lot to allow me to indulge myself. Talk to loads of people and they go to the hole in the wall, take out £50 and cannot tell you where it's gone. Not me. I dont buy 2 Starbucks a day £5, don't buy a paper £1, dont pay to park £6, dont buy a sarnie at lunch £3 or kit kats when I fill up £1. Crazy as it may sound, this all adds up, £15 a day. It sounds boring but this £5000 per year) is enough to run a supercar. Of course, buying it is another matter!
SonnyM said:
+1
A rule of thumb I use is your car normally represents 10% of the value of your home. Therefore you need a home first - that you actually own!
If you mean 'actually own' to mean 'own outright', then 10% of the equity in my current mortgaged property would mean I could only afford a car worth about £3k, which is clearly ridiculous! Even if you're saying 10% of the value of your home (regardless of how much equity you own), then I still wouldn't be able to afford, according to that criteria, a car worth any more than about £13k, which is also ridiculous as I've comfortably owned cars worth far more than that!A rule of thumb I use is your car normally represents 10% of the value of your home. Therefore you need a home first - that you actually own!
okgo said:
I made a longer reply on another thread.
But the long and short of it is that you cannot do these kind of questions, they don't work.
Yes, I'm not disagreeing with you there... like I said, I was just waving a finger in the air to see what people's take was. I'm not forcing anyone to reply to this thread and participate in the discussion but, if they do, I'm curious to know people's views (including the view that it's impossible to answer!)But the long and short of it is that you cannot do these kind of questions, they don't work.
Well I'd want to be clearning £5k a month before I started thinking about cars of that level. But then when you're at that level you're mortgage is probably fairly big, and the wife spends a fortune etc. So lets say I'd want at least £3k left after all of that stuff to spend how I saw fit, that way you could probably cover most bills and still live if they happened all of a sudden.
okgo said:
Well I'd want to be clearning £5k a month before I started thinking about cars of that level. But then when you're at that level you're mortgage is probably fairly big, and the wife spends a fortune etc. So lets say I'd want at least £3k left after all of that stuff to spend how I saw fit, that way you could probably cover most bills and still live if they happened all of a sudden.
^ Good answer. I'm clearing around £5k a month but still can't afford my 355 I've been after for ages. But then I've had a spendthrift wife for the last 8 years....However, I've recently kicked her out and despite the fact my house is only worth about £150K, I can now easily see me getting into the 355 by the end of the year
Once the divorce comes through.....I'm going shopping.....like proper shopping, none of this "All Saints" designer clothing crap lol
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