Appropriate salary to buy a Supercar

[Alex_6n2]

BrundanBianchi said:

If it floats, flys or fks, rent it.

Dwayne Johnson knows his assets that's for sure

Do you dress like this? (Probably not atm because WFH)

[Jules Sunley]

Alex_6n2 said:

Dwayne Johnson knows his assets that's for sure

Do you dress like this? (Probably not atm because WFH)

Mmmmm….Pagani....dribble

[paddy1970]

Deep Thought said:

Relative to buying used - with your £8,500 Golf - as you've said yourself theres depreciation anyway (approx £120 a month assuming 50% depreciation over 3 years), maintenance, ad hoc bills, MOT, road tax. And i'm sure you're a cash buyer - isnt everybody on PH? - but for the riff raff out there theres also finance charges involved.

A used car will not depreciate 50% in 3 years unless you do crazy mileage ... especially a Golf! The depreciation curve is steepest in the first year.

That's all the point of buying used.

The costs are half that.

[djc206]

kingston12 said:

Does that include the effect of the upfront payment though? As I say, I know nothing about financing cars, but from the example above it appears that the upfront payment is a significant proportion of the cost.

Yep, amortised from a quick leasing.com search

The example you gave is a JLR PCP, they seem to exist in pure fantasy land with their “deals”.

[okgo]

paddy1970 said:

A used car will not depreciate 50% in 3 years unless you do crazy mileage ... especially a Golf! The depreciation curve is steepest in the first year.

That's all the point of buying used.

The costs are half that.

I think maybe that was my poorly presented point. I don't know or care how much this golf is worth, so it was just a guess, but no way its costing me more than a brand new one on lease.

[kingston12]

djc206 said:

Yep, amortised from a quick leasing.com search

The example you gave is a JLR PCP, they seem to exist in pure fantasy land with their “deals”.

Makes sense. I did think it seemed quite high for that type of car.

[djc206]

kingston12 said:

Makes sense. I did think it seemed quite high for that type of car.

Indeed. For £1100pcm you could lease a RRS SVR and really endear yourself to your neighbours.

[fastraxx]

djc206 said:

Indeed. For £1100pcm you could lease a RRS SVR and really endear yourself to your neighbours.

I cannot get my head around the mentality of people who do actually think like this. (what neighbors / strangers think)

[djc206]

fastraxx said:

I cannot get my head around the mentality of people who do actually think like this. (what neighbors / strangers think)

I was referring to the noise they make not their desirability.

Edit to add: pretty much every human being cares what strangers think whether they care to admit it or even realise it or not.

[fastraxx]

djc206 said:

I was referring to the noise they make not their desirability.

That's great.

[Kent Border Kenny]

djc206 said:

Indeed. For £1100pcm you could lease a RRS SVR and really endear yourself to your neighbours.

Is that all-in, I.e. including the upfront payment?

[djc206]

Kent Border Kenny said:

Is that all-in, I.e. including the upfront payment?

Yes

[djc206]

fastraxx said:

djc206 said:

I was referring to the noise they make not their desirability.

That's great.

I still think you’ve totally missed my point which is that they are slightly obnoxious. That’s why I sarcastically said endear rather than impress.

[fastraxx]

djc206 said:

I still think you’ve totally missed my point which is that they are slightly obnoxious. That’s why I sarcastically said endear rather than impress.

Yeah - they absolutely are. Not a fan. Much prefer a nice classy vogue.

[fastraxx]

anonymous said:

[redacted]

Yes, I have had comments about old cars I have owned from colleagues and as have others. People think that in a certain role or salary you should have a BMW/Audi/Merc which is reasonably new. Sad but true. I usually fail to tell them about weekend car and pretend to be disinterested in cars - depending on how well i know them.

As you say on your second point - theres plenty of people spending big sums for themselves, good on them. Why the hell not?

[Deep Thought]

paddy1970 said:

Deep Thought said:

Relative to buying used - with your £8,500 Golf - as you've said yourself theres depreciation anyway (approx £120 a month assuming 50% depreciation over 3 years), maintenance, ad hoc bills, MOT, road tax. And i'm sure you're a cash buyer - isnt everybody on PH? - but for the riff raff out there theres also finance charges involved.

A used car will not depreciate 50% in 3 years unless you do crazy mileage ... especially a Golf! The depreciation curve is steepest in the first year.

That's all the point of buying used.

The costs are half that.

Typically they are. An £8K car is likely to resell three years later for half that. Its a rough rule of thumb.

Your typical UK car buyer will buy a car from a dealer @ say £8K, and come trade in time three years later its going to be worth half that at best.

Budget say £250 a year for one ad hoc bill.
Maybe another £200 for wear and year maintenance.
Say another £250 for MOT

Theres £700 = £60 a month.

Maybe they've taken a loan out, thats another £20 a month in interest charges.

Not hard to see £200 a month when you factor in that.

Edited by Deep Thought on Monday 26th October 13:22

[Deep Thought]

okgo said:

paddy1970 said:

A used car will not depreciate 50% in 3 years unless you do crazy mileage ... especially a Golf! The depreciation curve is steepest in the first year.

That's all the point of buying used.

The costs are half that.

I think maybe that was my poorly presented point. I don't know or care how much this golf is worth, so it was just a guess, but no way its costing me more than a brand new one on lease.

No its not costing you more - but its costing you in depreciation, maintenance, MOT, ad hoc bills, road tax (probably £30, granted but not always) and it will total up to a reasonable amount each month.

So its not "free" motoring.

If someone choses to wrap that up in a monthly payment, then i can see how that can appeal.

Edited by Deep Thought on Monday 26th October 14:08

[Deep Thought]

djc206 said:

fastraxx said:

I cannot get my head around the mentality of people who do actually think like this. (what neighbors / strangers think)

I was referring to the noise they make not their desirability.

Edit to add: pretty much every human being cares what strangers think whether they care to admit it or even realise it or not.

To the extent that they're likely to spend £1,100 a month, every month just because they care what the neighbours think of them?

Really?

[djc206]

Deep Thought said:

To the extent that they're likely to spend £1,100 a month, every month just because they care what the neighbours think of them?

Really?

Well not just because of what others think I wouldn’t imagine but yes. There are plenty of people out there who spend more than that on fashion and beauty and it’s really not much different is it? Then there’s the fortunate few for whom £1100 really isn’t that much money. The point stands people do care what others think about them and quite a few people are very image driven, a car is just a part of that image.

[Kent Border Kenny]

djc206 said:

I still think you’ve totally missed my point which is that they are slightly obnoxious. That’s why I sarcastically said endear rather than impress.

I don’t think that a car can really be obnoxious. Owners can, but not the cars themselves.

The SVR is designed to do a couple of things very well, and I think that it’s quite a fun approach to the design brief.