Appropriate salary to buy a Supercar
Discussion
fastraxx said:
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?! 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 said:
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. Even if you are handy with spanners, parts prices alone can easily give rise to a £2 - £3k bill. My rad needed replacement and it was combined with a new washer jet and there went £3.5k on a trip to McGurks. DIY spannering would have saved a grands worth of labour but even still. Even with no faults but consumables like brakes, tyres, exhaust, shocks/springs etc. I put aside £500 a month to "self-warranty" the Aston, which I admit is a tad pessimistic in the years so far.
Doing it on £35k a year would be suicidal in my mind, albeit I take on board the other poster and agree that everyone's outgoings and incomings can vary; its not all about salary. If you were mortgage free, had a trust fund and inherited a property portfolio, then a £35k "salary" is play money. For those of us in a normal world, however, even with a modest mortgage I think its a push too far. I do think though it depends on just how dedicated you are to your petrolhead heart. For me if I was overstretched it would ruin any pleasure of owning such a car and I would soon resent it.
I've had a couple of cars a little in excess of my salary. No big deal. My next one would have been around 120% but just had a well timed pay rise.
Being an enthusiast and spending time talking to the right people and finding the right car considerably lessens the risk of catastrophic failure.
Those berating the finance users with big bill scare stories seem to forget that new cars come with manufacturer warranty.
There used to be a little independent dealer in these parts some will remember. Phillip Welch Specialist Cars. He had emblazoned on the wall,
Life is too short to drive a boring car!
Being an enthusiast and spending time talking to the right people and finding the right car considerably lessens the risk of catastrophic failure.
Those berating the finance users with big bill scare stories seem to forget that new cars come with manufacturer warranty.
There used to be a little independent dealer in these parts some will remember. Phillip Welch Specialist Cars. He had emblazoned on the wall,
Life is too short to drive a boring car!
Edited by Rick101 on Tuesday 27th October 10:31
fastraxx said:
Wow....but your circumstances could be that you had minimal other outgoings....
Had a mortgage with all the associated bills, lived a good lifestyle.Running the car was certainly no burden. Very affordable on that salary.
I’m not trying to be the big “I am” I’m just demonstrating a real world example.
I’m extravagant by nature, it’s my DNA.
A lot of people will earn a lot more and bulk at buying branded groceries, to me it’s about you, your wants and priorities.
I’ll buy my mother a bottle of Gucci perfume. She will have a spray on her birthday and at Christmas as it’s too expensive- lives in a mortgage free house worth over a £million and drives a 20 year old V70.
We never know what motivates people to do what they do or buy what they buy. Even when you ask you’ll rarely get the full picture.
Don’t make assumptions of others based on your circumstances I say and don’t criticise others for there choices.
Edited by Thankyou4calling on Tuesday 27th October 10:48
Thankyou4calling said:
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.Worst case you’ve got a broken down Ferrari in the garage for a while, which, let’s face it, is a distinctly first world problem...
I’ve ran my Aston for 4 years, not had one issue other than consumables (a little bit of blown pint).
I reckon I’ve spent £8k including servicing, consumables , etc.
Paid cash so no monthly payments, earn significantly less than £100k, granted it isn’t a super car but my Mini Cooper S cost more to run.
If you want one, you can do it, as TH4C said, it’s all about your own priorities
I reckon I’ve spent £8k including servicing, consumables , etc.
Paid cash so no monthly payments, earn significantly less than £100k, granted it isn’t a super car but my Mini Cooper S cost more to run.
If you want one, you can do it, as TH4C said, it’s all about your own priorities
I’d this an analysis of the finances of TY4C or a thread about running a car!
It’s not hard for me to come up with £40k. If you want something you will,
As said it’s about priorities.
On a £45,000 salary you can live well and save £1000 a month easily and pay a mortgage and go on holiday.
You might live with someone earning the same or more, you might put it all on red, you might live in a room for £250 a month, you might sell a watch you inherited.
You do want you want, live how you live.
It’s not hard for me to come up with £40k. If you want something you will,
As said it’s about priorities.
On a £45,000 salary you can live well and save £1000 a month easily and pay a mortgage and go on holiday.
You might live with someone earning the same or more, you might put it all on red, you might live in a room for £250 a month, you might sell a watch you inherited.
You do want you want, live how you live.
Yes, it is VERY difficult for someone on that salary to come up with 40k while living somewhere and paying bills. Basically impossible. And certainly not something almost anyone would consider doing. - Outlier.
Lord Vader - has an ok paying job in a land where there's very few well paying jobs, and as such probably has a mortgage that is tiny - outlier.
Lord Vader - has an ok paying job in a land where there's very few well paying jobs, and as such probably has a mortgage that is tiny - outlier.
As previously mentioned whilst children are expensive as we all know wives can be extremely expensive and on another level ££ entirely thus easily draining any funds dedicated for interesting cars never mind super cars.
Girlfriends are far less expensive to keep than wives especially those who don't live with you and keep their own property and are happy to meet up perhaps once mid week then at weekends which lets face it is enough and sufficient interaction for most chaps if they wereprepared to admit it..
So a win win situation all round for the supercar/woman chaser plus huge potential savings for that essential interesting car/ supercar fund.
:
Girlfriends are far less expensive to keep than wives especially those who don't live with you and keep their own property and are happy to meet up perhaps once mid week then at weekends which lets face it is enough and sufficient interaction for most chaps if they wereprepared to admit it..
So a win win situation all round for the supercar/woman chaser plus huge potential savings for that essential interesting car/ supercar fund.
:It is funny in isolation I agree yes!!
But
I’m sure you get my point.
We none of us know another’s circumstances. We assume, we judge and we often compare to ourselves.
But we never really know.
As an addition, I know a lot of people who take £20 out of the cash point 3 or 4 times a week. Costa coffee, sandwich, scratch card, tin of Monster. It’s gone! That’s £300 a month easily.
I’ve never done that and it put me in a position where I could and did run a Ferrari, pay a decent mortgage, go on fancy holidays and eat well.
I was what you might call an extravagant tight wad .
But
I’m sure you get my point.
We none of us know another’s circumstances. We assume, we judge and we often compare to ourselves.
But we never really know.
As an addition, I know a lot of people who take £20 out of the cash point 3 or 4 times a week. Costa coffee, sandwich, scratch card, tin of Monster. It’s gone! That’s £300 a month easily.
I’ve never done that and it put me in a position where I could and did run a Ferrari, pay a decent mortgage, go on fancy holidays and eat well.
I was what you might call an extravagant tight wad .
Thankyou4calling said:
Had a mortgage with all the associated bills, lived a good lifestyle.
Running the car was certainly no burden. Very affordable on that salary.
I’m not trying to be the big “I am” I’m just demonstrating a real world example.
I’m extravagant by nature, it’s my DNA.
A lot of people will earn a lot more and bulk at buying branded groceries, to me it’s about you, your wants and priorities.
I’ll buy my mother a bottle of Gucci perfume. She will have a spray on her birthday and at Christmas as it’s too expensive- lives in a mortgage free house worth over a £million and drives a 20 year old V70.
We never know what motivates people to do what they do or buy what they buy. Even when you ask you’ll rarely get the full picture.
Don’t make assumptions of others based on your circumstances I say and don’t criticise others for there choices.
I try not to, hence being interested in your circumstance. I know 360's went down to 30k at one point so can see how it would be perfectly do-able. Good on you.Running the car was certainly no burden. Very affordable on that salary.
I’m not trying to be the big “I am” I’m just demonstrating a real world example.
I’m extravagant by nature, it’s my DNA.
A lot of people will earn a lot more and bulk at buying branded groceries, to me it’s about you, your wants and priorities.
I’ll buy my mother a bottle of Gucci perfume. She will have a spray on her birthday and at Christmas as it’s too expensive- lives in a mortgage free house worth over a £million and drives a 20 year old V70.
We never know what motivates people to do what they do or buy what they buy. Even when you ask you’ll rarely get the full picture.
Don’t make assumptions of others based on your circumstances I say and don’t criticise others for there choices.
Edited by Thankyou4calling on Tuesday 27th October 10:48
Thankyou4calling said:
It is funny in isolation I agree yes!!
But
I’m sure you get my point.
We none of us know another’s circumstances. We assume, we judge and we often compare to ourselves.
But we never really know.
As an addition, I know a lot of people who take £20 out of the cash point 3 or 4 times a week. Costa coffee, sandwich, scratch card, tin of Monster. It’s gone! That’s £300 a month easily.
I’ve never done that and it put me in a position where I could and did run a Ferrari, pay a decent mortgage, go on fancy holidays and eat well.
I was what you might call an extravagant tight wad .
I couldn't care less and I think people are judging on their own situation.But
I’m sure you get my point.
We none of us know another’s circumstances. We assume, we judge and we often compare to ourselves.
But we never really know.
As an addition, I know a lot of people who take £20 out of the cash point 3 or 4 times a week. Costa coffee, sandwich, scratch card, tin of Monster. It’s gone! That’s £300 a month easily.
I’ve never done that and it put me in a position where I could and did run a Ferrari, pay a decent mortgage, go on fancy holidays and eat well.
I was what you might call an extravagant tight wad .
Say 40k is what, 2.7k a month, so if you bought in 2011 when houses were cheap you'd have a mortgage of say 600pm as well as equity, bills and CT, another 250, food, 250, holiday money and savings 800 etc. Assuming you're 30, you'd have pocketed enough to drop a decent sum with or without finance on the car.
Then a 2nd income on top.
Lots of people basing this on their own situation.
Although I'd not have the steelies to have a 360 on that kinda salary. Lol
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