Appropriate salary to buy a Supercar
Discussion
Thankyou4calling said:
His Italian car days get an amazing turnout of everything from an Alfa Giulietta to an Enzo....
......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.
You honest think people are going to car shows with Enzos on an income of sub £100k annual income??!! - Though actually to the taxman these guys are probably on sub £15k year ......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.
Some of the richest people I know have the most conservative/modest appearances. People with true wealth usually never want it on show or boardcasted. They are rarely the ones wearing suties or fancy watches, these are the people who own supercars, not the rest of us counting our pennies
.Edited by gangzoom on Sunday 1st November 20:42
gangzoom said:
You honest think people are going to car shows with Enzos on an income of sub £100k annual income??!! - Though actually to the taxman these guys are probably on sub £15k year
Some of the richest people I know have the most conservative/modest appearances. People with true wealth usually never want it on show or boardcasted. They are rarely the ones wearing suties or fancy watches, these are the people who own supercars, not the rest of us counting our pennies.
Don't think this chap was claiming much to the taxman: https://www.dailymail.co.uk/news/article-3118576/S...Some of the richest people I know have the most conservative/modest appearances. People with true wealth usually never want it on show or boardcasted. They are rarely the ones wearing suties or fancy watches, these are the people who own supercars, not the rest of us counting our pennies
.Edited by gangzoom on Sunday 1st November 20:42
The Enzo I mention as an example of the cars at these shows.
That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
Thankyou4calling said:
The Enzo I mention as an example of the cars at these shows.
That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
Your comment rings true. Lots of petrolheads quite simply make sacrifices and/or spend a massive chunk on their income on their passion.That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
Thankyou4calling said:
That is so far wide of the mark.
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.
Out of interest how do you read someone at car shows and understand / judge them and why is there even the need to be judging them. 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.
bobbysmithy said:
Thankyou4calling said:
The Enzo I mention as an example of the cars at these shows.
That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
Your comment rings true. Lots of petrolheads quite simply make sacrifices and/or spend a massive chunk on their income on their passion.That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
If you earn £3,000 a month and can live off £1,000, then you’ve got £2,000 to enjoy your interests and passions.
Or if you earn £30,000 a month and spend £28,000 to live, and have £2,000 left to enjoy interests and passions.
It’s no different.
I’d definitely not buy a new one though. All bloody automatic.
Mr Whippy said:
bobbysmithy said:
Thankyou4calling said:
The Enzo I mention as an example of the cars at these shows.
That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
Your comment rings true. Lots of petrolheads quite simply make sacrifices and/or spend a massive chunk on their income on their passion.That particular one is owned by a total car nut and he’s retired.
I actually referenced Diablos, Ferrari 599’s a De Tomaso. To me, a petrolhead they’re super cars and the owners aren’t wealthy and don’t have a six figure income let alone half a million.
You can accept it or you can deny it but I absolutely know what I was earning when I had my Ferrari and I also know there are plenty of others with what I’d call a Supercar who aren’t on big bucks.
If you earn £3,000 a month and can live off £1,000, then you’ve got £2,000 to enjoy your interests and passions.
Or if you earn £30,000 a month and spend £28,000 to live, and have £2,000 left to enjoy interests and passions.
It’s no different.
I’d definitely not buy a new one though. All bloody automatic.
£3k takehome is £50k annual
Most but not all people on that salary will be in their 30's and not living at home with their parents getting everything paid for for them. Most people in their 30's will have families and other financial commitments that make spending £2k a month on a toy, a stupid choice to make.
I would bet that there are no more than a handful people in the UK on £50k with a £2k / month finance deal on a car. Does anyone know one or know of one? I don't.
You'd need to save for nearly 2 years for the deposit in the first place
It may theoretically possible but it's hardly an appropriate salary to spend that much on a car. Try multiplying it by 5.
Thankyou4calling said:
tighnamara said:
Out of interest how do you read someone at car shows and understand / judge them and why is there even the need to be judging them.
Mate. I literally can’t be arsed with you. Badda said:
Shame you’re not able to quantify how you know someone’s take home income/net worth by appearance alone.
Amusing, say a load of emotive rubbish, and then gets challenged on it and throws the toys.I do think he has a vast underestimation of the amount of people who have a large amount of money. If I remember he also claimed everyone living in The Boltons were just average folk
As I said about 10 pages ago, he was clearly the outlier in buying a ferrari on 45k a year, yes you 'could' do it, but you'd need as Jake said above, no life, probably some money from someone, and you'd have to value having an older Ferrari on your drive over everything else in life, which is fine, but it's far from normal, and it probably isn't the situation for most supercars you see around.
Mr Whippy said:
That’s it, it’s about passion.
If you earn £3,000 a month and can live off £1,000, then you’ve got £2,000 to enjoy your interests and passions.
That's not passion, that's poor/non existent financial planning. Anyone even thinking of doing the above is never going get themselves in to a position of true wealth. If you earn £3,000 a month and can live off £1,000, then you’ve got £2,000 to enjoy your interests and passions.
gangzoom said:
That's not passion, that's poor/non existent financial planning. Anyone even thinking of doing the above is never going get themselves in to a position of true wealth.
But so what? Maybe they aren’t aiming to be a position of true wealth. Maybe they want to drive an amazing car in their twenties, and then in their thirties get a three bedroom semi near their parents and friends, and do a job that they enjoy before coming home to their family.I’m in a position of true wealth, and still have no idea if the sacrifices that I’ve made are worth it.
gangzoom said:
Mr Whippy said:
That’s it, it’s about passion.
If you earn £3,000 a month and can live off £1,000, then you’ve got £2,000 to enjoy your interests and passions.
That's not passion, that's poor/non existent financial planning. Anyone even thinking of doing the above is never going get themselves in to a position of true wealth. If you earn £3,000 a month and can live off £1,000, then you’ve got £2,000 to enjoy your interests and passions.
Edited by kingston12 on Monday 2nd November 13:34
I’ve codified the answer
(Salary + Net worth * 5%) / (1 + number of dependents)
x
(40 / your age)
x
(How much of a petrol head you are on scale of 1-10 / 5)
= the total value of your garage, to be allocated between one or more cars as you see fit
Notes:
- 5% of net worth is a very approximate guess of how much people earn from their net asset base
- dependents are children, partner or elderly relatives you’re financially supporting
- age factor gives credit for younger people to benefit from future earnings, with 40 being an arbitrary number when you’re more likely to be thinking about asset gathering for retirement rather than consumption
- you’re petrol head score gives weighting to you just wanting to buy a car somewhat irrationally
Example:
- couple who are mid career (35 yrs old) earning £100k, net worth £500k, with 2 kids that loves cars:
(£100k + £500k x 5%) / 4
x
(40/35)
x
(10/5)
= ~£70k car(s) value
You can then work out what is needed to fund your definition of a Supercar
(Salary + Net worth * 5%) / (1 + number of dependents)
x
(40 / your age)
x
(How much of a petrol head you are on scale of 1-10 / 5)
= the total value of your garage, to be allocated between one or more cars as you see fit
Notes:
- 5% of net worth is a very approximate guess of how much people earn from their net asset base
- dependents are children, partner or elderly relatives you’re financially supporting
- age factor gives credit for younger people to benefit from future earnings, with 40 being an arbitrary number when you’re more likely to be thinking about asset gathering for retirement rather than consumption
- you’re petrol head score gives weighting to you just wanting to buy a car somewhat irrationally
Example:
- couple who are mid career (35 yrs old) earning £100k, net worth £500k, with 2 kids that loves cars:
(£100k + £500k x 5%) / 4
x
(40/35)
x
(10/5)
= ~£70k car(s) value
You can then work out what is needed to fund your definition of a Supercar
Kent Border Kenny said:
Maybe they want to drive an amazing car in their twenties, and then in their thirties get a three bedroom semi near their parents and friends
Wheres their house deposit coming from if they have wasted all their disposal income on a car for the previous decade? Or maybe they will just carry on living with mum and dad till they are 40.gangzoom said:
Wheres their house deposit coming from if they have wasted all their disposal income on a car for the previous decade? Or maybe they will just carry on living with mum and dad till they are 40.
And maybe they expect to earn enough in their later twenties to get the deposit together then.You seem determined to paint people who make different choices than you as fools. Don’t you mind if people whose choices made them better off than you are doing the same?
Are you maybe at exactly the sweet spot where you get to say anyone else is in the wrong?
Thankyou4calling said:
When I had my Ferrari ( only a 360) I never experienced any derision from people with a better car.
Only those with worse.
That’s the behaviour your seeing here.
Don’t waste your time mate.
I’ve a guy on another thread taking the piss out of me for driving a McLaren, as apparently his Skoda is more reliable. This following him trying to paint me as boring for having a Tesla.Only those with worse.
That’s the behaviour your seeing here.
Don’t waste your time mate.
It’s just bizarre, and makes me wonder what their issues are at home to be like this.
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