Appropriate salary to buy a Supercar
Discussion
SuperBaaaad said:
Massive discounts and PCP.
You can get a McLaren 570s for £20k down and £999 a month.
I presume that's a 3 year deal? So add in the £20k deposit to monthly payments and you are looking at £1800/month down the drain. Add in insurance running costs and its probably the equivalent of roughly £35k per tax salary.You can get a McLaren 570s for £20k down and £999 a month.
Our mortgage payment is actually higher than that, even before overpayments. The difference is one is a waste of money with pretty much nothing to show for it at the end of 3 years apart from some photos and a seriously battered bank account, whilst the other is securing the future not just for me but eventually for my daughter when the debt is fully paid off.
To have the financial ability to just effectively write off £2k/month with no concerns about equality requires an income most of us here can only dream off. It'll certainly be a figure far above the additional tax bracket.
Again, you are seeing it from your perspective, many wouldn’t see it as a waste as it isn’t.
£450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
£450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
Lord.Vader said:
Again, you are seeing it from your perspective, many wouldn’t see it as a waste as it isn’t.
£450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
You’d have a point if the topic was ‘cost to buy and run a supercar’ ... but it isn’t. £450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
Lord.Vader said:
Again, you are seeing it from your perspective, many wouldn’t see it as a waste as it isn’t.
Given how few Supercars I see on the roads (ie McLaren/Lambos etc), I would say most people see things the same way as me.As side from millionaires row, there are few streets in the UK lined with Supercars. Most people see Supercars as a waste of money, and very few lucky people can afford that much spend on a car even with very high incomes.
Oh that £20ks that's already been paid, how do you find that amount ever 2-3 years?
Edited by gangzoom on Sunday 1st November 09:22
gangzoom said:
Given how few Supercars I see on the roads (ie McLaren/Lambos etc), I would say most people see things the same way as me.
As side from millionaires row, there are few streets in the UK lined with Supercars. Most people see Supercars as a waste of money, and very few people can afford that much waste even with very high incomes.
I suppose it depends on the street, and remember, many supercar owners don’t choose to use them every day, they’ll have other cars for that.As side from millionaires row, there are few streets in the UK lined with Supercars. Most people see Supercars as a waste of money, and very few people can afford that much waste even with very high incomes.
jakesmith said:
Lord.Vader said:
Again, you are seeing it from your perspective, many wouldn’t see it as a waste as it isn’t.
£450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
You’d have a point if the topic was ‘cost to buy and run a supercar’ ... but it isn’t. £450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
If you actually read the discussion you’d have a point, but you’ll see I was commenting on gangzoom and his rolled up cost to a £35k salary of running a supercar as opposed to purely buying (leasing) at £1k per month.
Fully agree gangzoom, to buy a super car on a ‘normal’ salary and throw financial caution / future to the wind requires a level of commitment most wouldn’t have, plus the mental side of ‘what if’ (gearbox, engine, etc) goes wrong.
I think you have to be seriously loaded to buy / run / enjoy one without any second thoughts ... but for me this thread is about at what level ‘could’ it be possible throwing everything else out the window (living with your parents and running a McLaren?!
)Lord.Vader said:
Again, you are seeing it from your perspective, many wouldn’t see it as a waste as it isn’t.
£450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
Having seen this argument a number of times over the years with reference to PCP/leasing it always makes me laugh. £450 per month running costs / insurance, really? ... the £20k has already been paid, so is irrelevant, it’s £1000 per month plus insurance / service, as it’ll be under warranty.
Why do people hark on about leaving their houses for their kids ... odds are it’ll be consumed by your care home costs as we live longer.
I hope my parents spend every penny they have got and enjoy it.
On the other hand the earlier calculations I saw ref £2k a month in childcare/education costs also aren't relevant to everyone. I'm 45 next year and my children are 17 (A-Levels) and 20 (University) and both have PT jobs that cover the majority of their outgoings (fingers crossed that's still the case in 3 months time) so actually cost me very little these days. They've also both got trust funds setup when they were born that we have paid into consistently over the years to assist the with their first home purchases etc.
I view that my job as a parent is to have provided an environment in which they can succeed on their own terms and focussing on leaving a large financial nest egg once I do pop off this mortal coil isn't a priority. I'll assist them where I can but I'm going to enjoy the fruits of my labour whilst I'm here so completely agree on your last statement.
Lord.Vader said:
for me this thread is about at what level ‘could’ it be possible throwing everything else out the window (living with your parents and running a McLaren?! )
Am sure everyone on this forum has done similar thoughts.....but most us are much older than 16 these days ).As for been been still dependent on your parents versus having a McLaren, again any of us over 16 will surely have the same answer to that.
Think that someone shouldn't spend more than 25% of their gross income on cars. There are many suggestions in financial articles out there, which range from 10% to 30% and I normally aim to spend no more than 10%, but I currently have no supercar.
So he's a simple example where someone could "afford" a supercar. With a household income of 150,000+ you should technically be able to pay for a new Audi R8 for example (£117,325| £1,583.26p/m). That's the deal as per Audi's page today.
Basic rules:
1 - Keep mortgage expenses at 15% or less of your income. Though I love cars, having a house must always be number 1 priority.
2 - Supercar ownership £1,583.26p/m alone would be around 13% of your gross income, leaving you with plenty of room for a new R8, which should be reliable.
In short, if your car expenses are no more than 25% of your gross income, you could "afford" a new supercar (Audi R8) and have some money left every month. If we're talking about used cars, it's certainly a possibility and a lot of nice things can be found at 75,000 or less.
So he's a simple example where someone could "afford" a supercar. With a household income of 150,000+ you should technically be able to pay for a new Audi R8 for example (£117,325| £1,583.26p/m). That's the deal as per Audi's page today.
Basic rules:
1 - Keep mortgage expenses at 15% or less of your income. Though I love cars, having a house must always be number 1 priority.
2 - Supercar ownership £1,583.26p/m alone would be around 13% of your gross income, leaving you with plenty of room for a new R8, which should be reliable.
In short, if your car expenses are no more than 25% of your gross income, you could "afford" a new supercar (Audi R8) and have some money left every month. If we're talking about used cars, it's certainly a possibility and a lot of nice things can be found at 75,000 or less.
rr87 said:
Think that someone shouldn't spend more than 25% of their gross income on cars. There are many suggestions in financial articles out there, which range from 10% to 30% and I normally aim to spend no more than 10%, but I currently have no supercar.
So he's a simple example where someone could "afford" a supercar. With a household income of 150,000+ you should technically be able to pay for a new Audi R8 for example (£117,325| £1,583.26p/m). That's the deal as per Audi's page today.
Basic rules:
1 - Keep mortgage expenses at 15% or less of your income. Though I love cars, having a house must always be number 1 priority.
2 - Supercar ownership £1,583.26p/m alone would be around 13% of your gross income, leaving you with plenty of room for a new R8, which should be reliable.
In short, if your car expenses are no more than 25% of your gross income, you could "afford" a new supercar (Audi R8) and have some money left every month. If we're talking about used cars, it's certainly a possibility and a lot of nice things can be found at 75,000 or less.
Net or gross?So he's a simple example where someone could "afford" a supercar. With a household income of 150,000+ you should technically be able to pay for a new Audi R8 for example (£117,325| £1,583.26p/m). That's the deal as per Audi's page today.
Basic rules:
1 - Keep mortgage expenses at 15% or less of your income. Though I love cars, having a house must always be number 1 priority.
2 - Supercar ownership £1,583.26p/m alone would be around 13% of your gross income, leaving you with plenty of room for a new R8, which should be reliable.
In short, if your car expenses are no more than 25% of your gross income, you could "afford" a new supercar (Audi R8) and have some money left every month. If we're talking about used cars, it's certainly a possibility and a lot of nice things can be found at 75,000 or less.
15% of net is a tough ask I’d imagine for the vast majority.
Many on here are doing the calculations.
How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
Thankyou4calling said:
Many on here are doing the calculations.
How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
Agreed, ultimately this can't be a logical decision purely based on calculations from an excel sheet. Though I control myself as much as possible...soon enough I'll just have to pull the trigger and deal with the consequences, otherwise life will be too boring by always following financial rules and guidelines. I'm a bit young still, but hope to own a dream car within 3 years max.How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
Thankyou4calling said:
Many on here are doing the calculations.
How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
Drives a Ferrari but can’t spell ‘their’. Says it all!! How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
Countdown said:
Would love to see pics - fell in love with both it and Barbara Bach after watching The Spy who Loved me.
Incidentally how on earth did somebody like Ringo Starr manage to marry her?
Few pics, definately just a sports car. I don't feel like a knob driving it. I suspect at 55 I would in a supercar.Incidentally how on earth did somebody like Ringo Starr manage to marry her?
Badda said:
Thankyou4calling said:
Many on here are doing the calculations.
How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
Drives a Ferrari but can’t spell ‘their’. Says it all!! How much % of gross income
How much if something goes pop
What If I lose my job
How much will I use it.
These are good, logical questions.
The person who asks them and gets the spreadsheet out will only ever reach one conclusion.
They can’t afford a Supercar.
Because they are using there head.
I on the other hand didn’t, I wanted a Ferrari (not a Supercar to PH but 100% to the masses)
I wanted that car and found a way to have it.
Any accountant or pragmatic analyst would say no way could I or should I! But I did. It was emotional, I just wanted that freaking car.
How? Went without stuff, limited myself in other areas. But I did it and I’ll tell you this.
It was UNBELIEVABLE! I loved every day with that car.
So in answer to the question, the answer is a figure or a feeling that you can reconcile.
I will say that the dealer I bought from (I asked ) said the vast majority of there customers were not well off ( whatever well off is) but were car enthusiasts.
I personally think this type of buyer is a true petrol head, couldn’t really afford it but made sacrifices to get it and found a very rewarding, true ownership experience, most who buy these cars have no idea how lucky they are to be driving them, they’re just trinkets to them and status symbols.
they actually spoil it for the real petrol heads who now cant buy a supercar because they dont want to be associated with that kind of owner, sort of stopped me getting a Lambo, bit like the guy with the older lotus, i’d just feel a dick.
Edited by galtezza on Sunday 1st November 14:31
I know several people taking home 10k net per month plus some bonuses, so let’s say around 150k net per year, with different life circumstances (single, married, divorced, with/without kids) ... but noone, both big spenders and careful spenders, has a supercar.
Some have very nice fast cars in the 50-100k range, Ms / AMGs / RSs or comfortable family SUVs, but absolutely no Ferraris or such machinery, in fact not even 911s (one Cayman however).
I would guess that to comfortably own a new(ish) supercar, without massively sacrificing other aspects of life or general financial security and savings, one would need to be earning over 250k net per year, so a gross salary near enough half a million.
Some have very nice fast cars in the 50-100k range, Ms / AMGs / RSs or comfortable family SUVs, but absolutely no Ferraris or such machinery, in fact not even 911s (one Cayman however).
I would guess that to comfortably own a new(ish) supercar, without massively sacrificing other aspects of life or general financial security and savings, one would need to be earning over 250k net per year, so a gross salary near enough half a million.
Edited by piropiro on Sunday 1st November 18:16
piropiro said:
I know several people taking home 10k net per month plus some bonuses, so let’s say around 150k net per year, with different life circumstances (single, married, divorced, with/without kids) ... but noone, both big spenders and careful spenders, has a supercar.
Some have very nice fast cars in the 50-100k range, Ms / AMGs / RSs or comfortable family SUVs, but absolutely no Ferraris or such machinery, in fact not even 911s (one Cayman however).
I would guess that to comfortably own a new(ish) supercar, without massively sacrificing other aspects of life or general financial security and savings, one would need to be earning over 250k net per year, so a gross salary near enough half a million.
That is so far wide of the mark.Some have very nice fast cars in the 50-100k range, Ms / AMGs / RSs or comfortable family SUVs, but absolutely no Ferraris or such machinery, in fact not even 911s (one Cayman however).
I would guess that to comfortably own a new(ish) supercar, without massively sacrificing other aspects of life or general financial security and savings, one would need to be earning over 250k net per year, so a gross salary near enough half a million.
Edited by piropiro on Sunday 1st November 18:16
Go to a car show. They happen regularly all over the country in normal circumstances.
I particularly used to enjoy going to the Sharnbrook Hotel days in Bedfordshire.
The guy who runs the hotel ( it’s family owned) is a proper petrol head and knows plenty of like minded souls.
His Italian car days get an amazing turnout of everything from an Alfa Giulietta to an Enzo and Aventadors a plenty.
Everyone is friendly, it’s a family day out.
The owners are all very proud of there cars and are happy to talk to anyone about them.
I’m doing so you soon discover that the vast majority are not wealthy people at all. Often not even what you might call high earners.
They are real people with a genuine love for there car be it a 599, Diablo or De Tomaso.
I only cite that day as it’s one I regularly participated in but plenty of others.
Obviously I’ve not seen people’s bank accounts but I’m a decent enough judge to read a person and a £500,000 salary would not be the norm.
Divide that by at least 5 or more.
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