How much do you have to earn to afford these cars?

[272BHP]

Don't know if here has been another thread like this but I am fascinated when I see certain cars on the road and I wonder how much you would have to earn to buy a new one.

I have chosen 5 'goto' cars in different price brackets and put forward some opinions myself of the top of my head:

FOCUS RS - Single 30 year old engineer earning 40k a year.

BMW M3 - Single IT contractor 35 years old earning £400 a day

PORSCHE 911 - Married 50 yr old Doctor earning £150k a year , Wife also earning £50k +

PORSCHE 911 Turbo - 50 yr old City Trader £150k a year plus bonuses of at least the same again. Wife also working

FERRARI 458 Italia - Successful company owner or Lottery winner!

Thoughts?

[MartyPubes]

Mercedes 500 SEC - Cock must be AT LEAST 9 inches. On the slack.

[crofty1984]

When I was 22 I was on 19k a year and bought a Porsche 911 carrera 3.2. Now I'm on about half as much again and drive round in a 10 year old Clio with a duff wheel bearing.

It's all about what your outgoings are and how much you're willing to compromise on other things.

[OlberJ]

272BHP said:

Thoughts?

Cost of new car = yearly wage + savings + extended mortgage.

Otherwise, you're doing it wrong.

[Thesaint01708]

272BHP said:

Don't know if here has been another thread like this but I am fascinated when I see certain cars on the road and I wonder how much you would have to earn to buy a new one.

I have chosen 5 'goto' cars in different price brackets and put forward some opinions myself of the top of my head:

FOCUS RS - Single 30 year old engineer earning 40k a year.

BMW M3 - Single IT contractor 35 years old earning £400 a day

PORSCHE 911 - Married 50 yr old Doctor earning £150k a year , Wife also earning £50k +

PORSCHE 911 Turbo - 50 yr old City Trader £150k a year plus bonuses of at least the same again. Wife also working

FERRARI 458 Italia - Successful company owner or Lottery winner!

Thoughts?

Depends doesnt it - on how much someone wants something.

A 911 comes easy to the doctor profile but you could get an Admin Assistant on 18k living with their parents with no other out goings apart from £850 a month on their 911 & Fuel..?

Generally i have seen that half way up the wealth ladder people become savvy and start buying Hondas and the like, where as either side of the loaded bracket you either do it 'because you can' or you do it because you absolutely must have a 911 and to hell with living..

[StottyZr]

crofty1984 said:

When I was 22 I was on 19k a year and bought a Porsche 911 carrera 3.2. Now I'm on about half as much again and drive round in a 10 year old Clio with a duff wheel bearing.

It's all about what your outgoings are and how much you're willing to compromise on other things.

I think insurance has risen a bit since you were 22. A 911 carrera would set me back around £4000p.a I reckon and I'm 21. Affording the car isn't the difficult part at my age, its insuring the bloody thing.

Edit: Upon reflection I should take these comments back. I have a friend who pays £3500p.a on his £1000 clio 1.8, if you had no claims and a good wage it would be possible to run that car. Man points for buying that at 22!!

Edited by StottyZr on Thursday 25th August 18:33

[crofty1984]

StottyZr said:

crofty1984 said:

When I was 22 I was on 19k a year and bought a Porsche 911 carrera 3.2. Now I'm on about half as much again and drive round in a 10 year old Clio with a duff wheel bearing.

It's all about what your outgoings are and how much you're willing to compromise on other things.

I think insurance has risen a bit since you were 22. A 911 carrera would set me back around £4000p.a I reckon and I'm 21. Affording the car isn't the difficult part at my age, its insuring the bloody thing.

Edit: Upon reflection I should take these comments back. I have a friend who pays £3500p.a on his £1000 clio 1.8, if you had no claims and a good wage it would be possible to run that car. Man points for buying that at 22!!

Edited by StottyZr on Thursday 25th August 18:33

Got a clasic insurance policy from Lancaster. £700 Fully comp. That was 5 years ago.

[cailean]

A lot will depend on what you can justify with your money and your preferred outgoings for your family and future... Don't look at someone driving a M3 and think they are more successful than someone driving a 320d. Having said that I think the OP's assumptions are quite reasonable

[odyssey2200]

crofty1984 said:

It's all about what your outgoings are and how much you're willing to compromise on other things.

Nail. head. Hit

Before I was married, mortgaged and had 3 kids I could afford newish cars and brand new bikes.

Now we have one 5 year old people carrier, a bike I bought new 9 years ago and a dull company car.

But I am only 6 numbers away from my dream garage.

[Strachan]

Not sure but personally the more I earn the tighter I get... Doubled my wage recently and waiting to buy another toy
until I can afford it twice. Plenty go the other way too...

[Nick3point2]

I know people on £60k+ who drive 'cheap' cars because they are saving for deposits for a house.

It's purely about how much money is left at the end of the month after making all your financial commitments; low commitments on an average wage leaves more than a good salary with a mortgage, kids, expesive hobbies.

[272BHP]

my original thread was obviously generalisations. they also were made assuming people were doing the normal thing i.e. buying or owning houses commensurate with their incomes and having 2.4 kids etc etc.

My thinking is that this would realistically be the 'least' they would have to earn to be able to afford the car and not be under financial pressure.

Of course we see loads of people 'punching above their weight' and buying cars that they struggle to pay for because they want it so much - most of those people are on this forum I guess!

[e12mat]

Try Adrian flux for insurance if your young I paid £940 to insure my 911 at 24.

It's also very dependent on how many miles you do. Absolutely agree with everyone else here regarding the tighter you get the more you make. I promised myself a DBS when I earned a certain amount, now I'm here I just can't justify the expense!

[Jasandjules]

MartyPubes said:

Mercedes 500 SEC - Cock must be AT LEAST 9 inches. On the slack.

Hmm, I wonder what car you drive..

Is it a Fiesta??

[Strachan]

272BHP said:

my original thread was obviously generalisations. they also were made assuming people were doing the normal thing i.e. buying or owning houses commensurate with their incomes and having 2.4 kids
Of course because they want it so much - most of those people are on this forum I guess!

but you said in the OP that they were single? Sorry but it makes a BIG difference

[Strachan]

e12mat said:

Try Adrian flux for insurance if your young I paid £940 to insure my 911 at 24.

It's also very dependent on how many miles you myself a DBS when I earned a certain amount, now I'm here I just can't justify the expense!

that is an absolute gorgeous carerra, well done.

[cheadle hulme]

I'm a finance contractor on a fairly decent day rate, but drive a Skoda Felicia as a work hack and a 7 year old Z4 as a fun car. Its difficult to make a correlation as peoples priorities differ.

I for example, hope to be retiring to France at a ridiculously young age.

If I was living more in the now though, then an M3 on contract hire would be pretty spot on.

[272BHP]

Strachan said:

but you said in the OP that they were single? Sorry but it makes a BIG difference

only the first 2 were single guys.

[Strachan]

272BHP said:

only the first 2 were single guys.

only messing
big differnence comes on contracting or company ownership.
Figures seem sensible depending on cost of living

[omgus]

I could easily cut £1000 off my housing costs in a month, to add to the current £300ish car budget, so what could you afford to drive with £1300 a month?

£15600 a year on a car, but give up my cottage and land? Nope i'll stick to the Focus as a daily and trying to skrimp enough together to pull the scooby back together.