Appropriate salary to buy a Supercar

[djc206]

Kent Border Kenny said:

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.

Well it’s not quiet and a bit brash. I think they’re fantastic things but I doubt my neighbours would agree if I left for a morning shift at 6am on a Sunday in one.

[Deep Thought]

djc206 said:

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.

Fair points.

[av185]

Alex_6n2 said:

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)

Don't know many Pagani owners who have a tent for a garage.

[gangzoom]

okgo said:

I bought a Golf earlier this year for 8500, it will probably work fine for a very long time and cost very little to do it, and in 3 years it's probably still worth 4 grand, obviously that's not the same as having the new orange peel special on the drive though, I must not be impressing my neighbours

Love how on PH a thread on buying Supercars with £100k salary end up discussing the merits of a used Golf .

I've just done my monthly budget check - Regular spends every month from my salary, the credit card which could be £300-400 less if we didn't have Amazon/online shopping - going to work on that next few months.

£33 - Broad band
£110 - Energy/water
£25 - x2 Mobile contracts
£900 - AMEX bill (food/general shopping)
£12 - Netflix
£2500 - Mortgage + house insurance (excludes overpayment but 20 year term)
£265 - Council tax

=£3845/month, that figure EXCLUDES any car cost/child care/investment/savings/holidays.

Anyone trying to run a £200k+ Supercar on a gross salary of £100K is either living totally mortgage free or don't mind living hand to mouth.

Yes we could live in a smaller house in a concrete jungle in exchange for a £1000/month + £30K deposit with finance on a supercar but I rather spend my hard earned cash been able to sit back after a hard work with this on the door step, and having the luxury of a garden which isn't the size of a parking space. I would love a Supercar as much as anyone else, but there are much more important things in life to spend money on.

Edited by gangzoom on Monday 26th October 18:23

[Shnozz]

gangzoom said:

Love how on PH a thread on buying Supercars with £100k salary end up discussing the merits of a used Golf .

I've just done my monthly budget check - Regular spends every month from my salary, the credit card which could be £300-400 less if we didn't have Amazon/online shopping - going to work on that next few months.

£33 - Broad band
£110 - Energy/water
£25 - x2 Mobile contracts
£900 - AMEX bill (food/general shopping)
£12 - Netflix
£2500 - Mortgage + house insurance (excludes overpayment but 20 year term)
£265 - Council tax

=£3845/month, that figure EXCLUDES any car cost/child care/investment/savings/holidays.

Anyone trying to run a £200k+ Supercar on a gross salary of £100K is either living totally mortgage free or don't mind living hand to mouth.

Yes we could live in a smaller house in a concrete jungle in exchange for a £1000/month + £30K deposit with finance on a supercar but I rather spend my hard earned cash been able to sit back after a hard work with this on the door step, and having the luxury of a garden which isn't the size of a parking space. I would love a Supercar as much as anyone else, but there are much more important things in life to spend money on.

Edited by gangzoom on Monday 26th October 18:23

Garden looks nice I must say, but I would want one of those robot mowers.

[anonymous-user]

You do, again I make the same point, realise that not everyone lives down South?

A £600-700k house here would be an absolute mansion with all the associated running costs.

I own part of an ancient woodland, massive garden, etc, etc £1k a month mortgage with 18 years to go, £350k odd house.

So I could easily afford a super car if I was on £100k.

Each to their own, we all have our own circumstances, and I don’t begrudge anyone who makes sacrifices elsewhere to afford a nice car, it’s a great way to spend (or according to gangzoom ‘waste’) your money.

I know a lad who works as a labourer or something equally unskilled, he got stabbed in the head one night whilst out and got a huge payout, he lives mortgage free in a nice house, I’m not advocating getting stabbed but you really never know with people.

Edited by Lord.Vader on Monday 26th October 18:46

[Deep Thought]

gangzoom said:

Love how on PH a thread on buying Supercars with £100k salary end up discussing the merits of a used Golf .

I've just done my monthly budget check - Regular spends every month from my salary, the credit card which could be £300-400 less if we didn't have Amazon/online shopping - going to work on that next few months.

£33 - Broad band
£110 - Energy/water
£25 - x2 Mobile contracts
£900 - AMEX bill (food/general shopping)
£12 - Netflix
£2500 - Mortgage + house insurance (excludes overpayment but 20 year term)
£265 - Council tax

=£3845/month, that figure EXCLUDES any car cost/child care/investment/savings/holidays.

Anyone trying to run a £200k+ Supercar on a gross salary of £100K is either living totally mortgage free or don't mind living hand to mouth.

Yes we could live in a smaller house in a concrete jungle in exchange for a £1000/month + £30K deposit with finance on a supercar but I rather spend my hard earned cash been able to sit back after a hard work with this on the door step, and having the luxury of a garden which isn't the size of a parking space. I would love a Supercar as much as anyone else, but there are much more important things in life to spend money on.

Edited by gangzoom on Monday 26th October 18:23

Thats your specific circumstances though and based on where you live. Its perfectly possible to be on £100K or more per year and not have a £2,500 mortgage and still have a lovely house in the country.

[Deep Thought]

Shnozz said:

Garden looks nice I must say, but I would want one of those robot mowers.

[J4CKO]

Salary is one thing, but folk have other income streams and vastly different outgoings.

We know folk and wonder how they do it and generally there is a large lump of inherited capital.

Chap I worked with, never understood how in the same position as us, same salary and wife not working how they managed a nice cottage in the country, then bought the other half when it came up, 2 nice cars, etc etc. His wife went to school with my wife and apparently had been left four million quid which would help, not flash at all and careful but made strategic and sensible purchases, three kids though private school and uni etc.

We have some folk on our road that apparently won the lottery some years back that enabled them to afford to by a house here.

We know a lady who doesnt work, her husband is a mechanic but she was gifted, on her 21st a block of 12 flats which she manages and takes the rent from.

Salary is only part of the picture, you can be skint on 100 grand or flush on a quarter of that, to many variables.

And kids, bloody hell they are expensive, 2 of mine are now independent, one is at home doing a masters, always needing cash, learning to drive which I am paying for but thats part of the territory.

[W201_190e]

This is an interesting topic. I often wonder if many people choose to own drive a car that could be viewed as "above their station' I appreciate it's a different take on the topic but I would imagine some of those people are reading it. I mean someone on £35k with an Aston DB7 on the drive, that sort of thing (that I dream of)

[av185]

J4CKO said:

And kids, bloody hell they are expensive, 2 of mine are now independent, one is at home doing a masters, always needing cash, learning to drive which I am paying for but thats part of the territory.

You are right on the children front I am sure they invariably cost more than supercars to run.

Worth it though. Well sometimes.

[gangzoom]

Lord.Vader said:

You do, again I make the same point, realise that not everyone lives down South?

I don't live that south, Leicestershire is also hardly a property hot spot, even if our Mortgage was only £1k that means £2300/month out going excluding child care/savings/car costs. Put another £1k/month on car payments and your back to over £3k/month spend, add in pension deductions/savings from your £5.5k take home pay and all of a sudden the delta between your regular spend and pay is barely above 4 figures.......Not something I would be comfortable with especially with a £200k+ asset/liability parked on the driveway, and thats WITHOUT kids costs.

I know plenty of people on £100k, I know no one that owns a Lambo. Our household take home pay is more than comfortable as my wife works full time too. We shop in Lidle/Asda and I try to budget our non essential spending. Though we are lucky enough not to really need to worry about paying the bills, the thought of owning something like a Lambo is nothing but a pipe dream.

Who wouldnt want a Lambo on the driveway, but like some others on here unless you are a millionaire I cannot see how anyone else can afford one. I certainly can never see my self in a financial position to own a Supercar, and thats not because I don't want to own a Lambo .

Infact last night I had a chat with my wife to stop buying stuff online as shes getting sucked into pre holiday sale shopping already, as our AMEX bill is too high, I doubt any Lambo owners need to such conversations with their partners .

We all know the saying 'If you have to ask how much you cannot afford it', for me Supercars are very much in that category. Any of us who have to even ask how much a Lambo costs don't need to bother asking, as we cannot afford it. Infact I have no idea how much they cost because I've never asked....

.....and just for fun had a look at the Lambo website, couldn't actually see any prices. So there you go, even their website knows am a pauper so cannot afford one, back to reality for a days work ahead .

Edited by gangzoom on Tuesday 27th October 06:45

[PorkInsider]

gangzoom said:

Who wouldnt want a Lambo on the driveway, but like some others on here unless you are a millionaire I cannot see how anyone else can afford one. I certainly can never see my self in a financial position to own a Supercar, and thats not because I don't want to own a Lambo .

But as has been pointed out, you're thinking about your specific circumstances/outgoings.

With £100k p/a, if your mortgage is paid off and you have no kids or non-working partner to support, £5.5k net per month goes a long, long way if you like spending on cars.

[67Dino]

A lot of the discussion here focusses on the monthly repayments needed for a supercar. Potential owners would also be wise to think how they’d feel if they received the kind of £5-10k bill that supercars find so easy to chuck at you out of the blue when they feel like it.

It’s not just about having that kind of money. It’s also about being able to spend it on yet another fix without hating that ruddy car...

[fastraxx]

67Dino said:

A lot of the discussion here focusses on the monthly repayments needed for a supercar. Potential owners would also be wise to think how they’d feel if they received the kind of £5-10k bill that supercars find so easy to chuck at you out of the blue when they feel like it.

It’s not just about having that kind of money. It’s also about being able to spend it on yet another fix without hating that ruddy car...

This. When you hear the likes of harry and thecarguys talking about the bills - they don't seem to mind if its 50k or 100k and that knowledge would make it much more enjoyable to own, imo.

[Thankyou4calling]

I’ve bought and run a 996 turbo and a 360 spider. Each time I certainly wasn’t earning £100,000 pa.

To give specifics, I paid £52,000 for the 360 (£42k plus a W12 Phaeton)

Owned it for 2 years during which time I put 5000 miles on it. Had an annual service, one cost £695 and one cost £1500.

I put 2 rear tyres on that was £600.

Car tax was about £250 a year (2011 -13) insurance about a £1000 a year ( MK41 postcode)

So it cost approximately £7000 in 24 months. £300 a month not much more than a leased golf.

Of course I had to stump up the purchase price but got that back when I sold it.

The only other cost was cleaning products. Spent a fortune on them

Loved every moment of ownership and it shows you absolutely don’t need to earn a fortune.

I know many will say a Ferrari 360 isn’t a supercar but it certainly is to 99% of the people who see it.

[NickCQ]

W201_190e said:

I mean someone on £35k with an Aston DB7 on the drive, that sort of thing (that I dream of)

I have quite a bit of respect for anyone doing that - to me that person is probably a proper petrolhead with the mechanical skills to look after a car like that without spending a fortune at AM. It's not like buying a knackered 15 year old Bentley Continental to pretend you are a West Coast rap star.

[PrinceRupert]

Thankyou4calling said:

I’ve bought and run a 996 turbo and a 360 spider. Each time I certainly wasn’t earning £100,000 pa.

To give specifics, I paid £52,000 for the 360 (£42k plus a W12 Phaeton)

Owned it for 2 years during which time I put 5000 miles on it. Had an annual service, one cost £695 and one cost £1500.

I put 2 rear tyres on that was £600.

Car tax was about £250 a year (2011 -13) insurance about a £1000 a year ( MK41 postcode)

So it cost approximately £7000 in 24 months. £300 a month not much more than a leased golf.

Of course I had to stump up the purchase price but got that back when I sold it.

The only other cost was cleaning products. Spent a fortune on them

Loved every moment of ownership and it shows you absolutely don’t need to earn a fortune.

I know many will say a Ferrari 360 isn’t a supercar but it certainly is to 99% of the people who see it.

Were you lucky, though? I don't know much about 360s, but how would you have felt if it shat its gearbox or something and hit you with a 20k bill? (I'm not sure how risky 360 ownership is, but certainly supercar ownership surely can be).

[fastraxx]

Thankyou4calling said:

I’ve bought and run a 996 turbo and a 360 spider. Each time I certainly wasn’t earning £100,000 pa.

To give specifics, I paid £52,000 for the 360 (£42k plus a W12 Phaeton)

Owned it for 2 years during which time I put 5000 miles on it. Had an annual service, one cost £695 and one cost £1500.

I put 2 rear tyres on that was £600.

Car tax was about £250 a year (2011 -13) insurance about a £1000 a year ( MK41 postcode)

So it cost approximately £7000 in 24 months. £300 a month not much more than a leased golf.

Of course I had to stump up the purchase price but got that back when I sold it.

The only other cost was cleaning products. Spent a fortune on them

Loved every moment of ownership and it shows you absolutely don’t need to earn a fortune.

I know many will say a Ferrari 360 isn’t a supercar but it certainly is to 99% of the people who see it.

Ok so what was your salary?!

[Thankyou4calling]

PrinceRupert said:

Were you lucky, though? I don't know much about 360s, but how would you have felt if it shat its gearbox or something and hit you with a 20k bill? (I'm not sure how risky 360 ownership is, but certainly supercar ownership surely can be).

I’m not the sort of person who lives there life worrying about what might happen. Not even a consideration.