How much salary is required to own a 360 (& not go hungry)
Discussion
Or a Sagaris for that matter. Sorry lads yes I know this is a TVR forum but I feel I will get a better response here and I know some of you have owned Ferrari in the past. Besides us TVR owners are far better looking and intelligent :-)
I remember back in 1997 graduating from business school and applying for jobs. I foolishly remember thinking wow if I can get a £25k a year job then I can own a Ferrari. Ok back in the day £25k pa for a student probably sounded a lot. In reality though on a good year I now earn 3 times that but still feel a 360 is too extravegant. What with running costs and insurance etc plus finance costs. Is it only prudent to buy one outright and make sure you have £50k in the bank? Perhaps they really are toys for millionaires?
Ps - At present I have a TVR Tamora which I love but I do fancy a Sagaris too.
I remember back in 1997 graduating from business school and applying for jobs. I foolishly remember thinking wow if I can get a £25k a year job then I can own a Ferrari. Ok back in the day £25k pa for a student probably sounded a lot. In reality though on a good year I now earn 3 times that but still feel a 360 is too extravegant. What with running costs and insurance etc plus finance costs. Is it only prudent to buy one outright and make sure you have £50k in the bank? Perhaps they really are toys for millionaires?
Ps - At present I have a TVR Tamora which I love but I do fancy a Sagaris too.
I can't imagine a Sagaris being any more expensive than your Tamora, aside from the outlay cost on buying the car.
I run my Griffith on a very paltry amount of money (much less than what you wanted to earn as a student), but then it is an older car. Mind you I may have to sell soon.
As for the Fezza, I reckon it will be quite high, especially as they are not cheap cars to buy.
I run my Griffith on a very paltry amount of money (much less than what you wanted to earn as a student), but then it is an older car. Mind you I may have to sell soon.
As for the Fezza, I reckon it will be quite high, especially as they are not cheap cars to buy.
I know lots of people who earn around £15/16k who run cars costing about £8k (new punto's/ fiestas etc)
Scale that up and to run a £100,000 car you should be earning £200k pa.
In reality however I imagine you could run one earning a lot less. I'd assume depreciation at about £50k over three years so I suppose you need about £20k pa disposable including running it.
Scale that up and to run a £100,000 car you should be earning £200k pa.
In reality however I imagine you could run one earning a lot less. I'd assume depreciation at about £50k over three years so I suppose you need about £20k pa disposable including running it.
jo5eph said:
Just to clarify it would be a 360 for no more than £65k
surely it all comes down to diposable income and how much of it you are prepared to put towards your toy.
A £65k 360 will still cost you around £10k pa over 3 years I would wager if you include depreciation, maintenance, insurance, fuel etc.
If you earn £15,000 a year and live rent free with your mum you can run a 360 easily.
jo5eph said:
.... but still feel a 360 is too extravagant.
And here I think is the key, it's not that you can't it's that you can't justify it. You could afford to run a 360 if you really wanted to, I am sure there are people who earn far less and do. I often drive through less than salubrious area and marvel at some of the expensive cars that adorn the driveways. I suspect the reason you cannot justify it is, why spend that on Ferrari when you know that it won't offer you much more than you already get from your current TVR; move it up to a Saggy and (if you get over the lust for a prancing horse badge) then you maybe begin to wonder which one might actually be better. By comparison, I know I can afford Sky TV yet I still baulk at the £30+ quid a month that most of my friends pay to have it, Freeview all the way for me because it delivers everything I want it to, just like running a tvr. Part of the warm feeling comes from knowing you have actually got quite lot for your money.
>> Edited by touchingcloth on Wednesday 15th March 15:57
If you have to spend that kind of money on a car why not buy a classic and have something going up in value instead of down. I would rather save my cash if buying a fezzer and get a nice late low mileage 328 for late £25,000- £30,000. Plus they look much better and these are about the last fezzers a half decent spanner man can work on, so a lot cheaper to run.No Cats nice sounds ,and prices are stationary.360's are for those guys who kick a round things on fields and get paid silly amounts of dosh.
My self i would not buy a £50,000 if earning £300,000, unless it was a gift of a classic or something which i could turn around and make some dosh on it. The more you spend the more you stand to loose.I was brought up in the trade and have seen people rip up 10's of thosands of pounds on motors.Look at the dep and also the interest on the loan andit would make you cry.
>> Edited by Rum Runner on Wednesday 15th March 16:22
>> Edited by Rum Runner on Wednesday 15th March 16:45
My self i would not buy a £50,000 if earning £300,000, unless it was a gift of a classic or something which i could turn around and make some dosh on it. The more you spend the more you stand to loose.I was brought up in the trade and have seen people rip up 10's of thosands of pounds on motors.Look at the dep and also the interest on the loan andit would make you cry.
>> Edited by Rum Runner on Wednesday 15th March 16:22
>> Edited by Rum Runner on Wednesday 15th March 16:45
Dude, you earn more than me and Im running my Sagaris.
To run a 'gris for a yr costs you £1-£3k in insurance, about £1-£2k in servicing and er...thats it. Petrol costs are whatever you want them to be, depreciation costs are...well depends on what you paid for the car and have done with it!
Dealers are selling their demos for £43-45k and Ive seen that Nivea one at £42kish was it? Ive seen another guy down at £41k for his with 12k miles on the clock. Personally I wouldnt touch a dealer demo Sagaris with a barge pole cos I know how we all treated them on test drives...and before the self righteous "I always treat an S6 with respect" brigade spout up, you know it too so knock off the high horse act...so a private buy is somewhere between £41-£47k.
Financing the car is entirely dependant on how you want to do it, so the costs will vary, either £63k is a hell of a lot of money for a cr@p Ferrari, esp when you get a 996tt for £45k - £70k. Anyway you care to look at it, a 996tt is a vastly superior motor to a 360.
A QDOS answer to your question though is I wouldnt go near running a £50k vehicle unless I was earning £50k myself. That is entirely my rule of thumb though.
To run a 'gris for a yr costs you £1-£3k in insurance, about £1-£2k in servicing and er...thats it. Petrol costs are whatever you want them to be, depreciation costs are...well depends on what you paid for the car and have done with it!
Dealers are selling their demos for £43-45k and Ive seen that Nivea one at £42kish was it? Ive seen another guy down at £41k for his with 12k miles on the clock. Personally I wouldnt touch a dealer demo Sagaris with a barge pole cos I know how we all treated them on test drives...and before the self righteous "I always treat an S6 with respect" brigade spout up, you know it too so knock off the high horse act...so a private buy is somewhere between £41-£47k.
Financing the car is entirely dependant on how you want to do it, so the costs will vary, either £63k is a hell of a lot of money for a cr@p Ferrari, esp when you get a 996tt for £45k - £70k. Anyway you care to look at it, a 996tt is a vastly superior motor to a 360.
A QDOS answer to your question though is I wouldnt go near running a £50k vehicle unless I was earning £50k myself. That is entirely my rule of thumb though.
Biggest rule here is disposable income. You could earn 100k a year but have a massive mortgage, X kids to feed and various other debts so have very little. Alternatively if you earn 20k a year, live at home and have no outgoings I'd suspect you could comfortably afford to run a fairly expensive car.
A chap I know works in a factory packing frozen food, yet he runs a Testarossa - albeit one of the early LHD single mirror ones!
In theory I should be able to afford a new T350 - in reality sometimes I struggle to run a 13k Chimaera.
A lot depends on how much deposit you have/can save. What sort (if any) of finance deal you have etc.
Some people like finance. For example Lotus have an excellant deal (3.9%apr) on new Elises which has attracted a lot of people who otherwise would never be able to afford the car - they then often sell when confronted with the final payment.
A chap I know works in a factory packing frozen food, yet he runs a Testarossa - albeit one of the early LHD single mirror ones!
In theory I should be able to afford a new T350 - in reality sometimes I struggle to run a 13k Chimaera.
A lot depends on how much deposit you have/can save. What sort (if any) of finance deal you have etc.
Some people like finance. For example Lotus have an excellant deal (3.9%apr) on new Elises which has attracted a lot of people who otherwise would never be able to afford the car - they then often sell when confronted with the final payment.
Hi Jimmy hows tricks. No, certainly not bored of the TAM. It has seriously restored my faith in British sports car ownership. Im afraid the elise/exige although i understand the principle was one big pain in the ****.
Have you decided to keep the TAM? I hope so bud, stay in touch.
Thanks for all your replies lads certainly a lot to think about. For now tho Im delighted with the TAM.
Have you decided to keep the TAM? I hope so bud, stay in touch.
Thanks for all your replies lads certainly a lot to think about. For now tho Im delighted with the TAM.
Further to my last reply - I can see a lot of sound advice in every post above. I think the nail was hit on the head tho with one particular thread. It said that I could afford one but can i justify it to myself. I think the answer is at this moment in time......NO. It doesnt matter if you earn 10k or 100k. Everytime Id look at my bank statement and see direct debits for £1000 finance and £300 insurance per month. It may make me a tad sick. Still despite a lot of stick on here, the 360 is an amazing car, at least to look at :-
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Hi Joseph, i have run expensive toys for a few years, including a couple of boats. What i have noticed is that it is all down to frame of mind. When "want" becomes "need", then you will find the money. Just recently i recognised that i "needed" a Chim - hey presto,problem resolved. 
Whatever you buy, really enjoy it, and don't ever regret the expense.
Whatever you buy, really enjoy it, and don't ever regret the expense. 
Agree - just depends on whether you can justify the cash! I wont talk salaries but mortgage, wife, kids, 3 cars, cerb, commute, eating out, nice wine, good hols, good style of living takes its toll. I would need to have a BASIC (ie plus perks) of £200K before considering a newish 360!
I used to skipper and maintian super yachts sail and power after i left the motor trade , and yes i have seen people rip up millions.It's a odd sport of egos,and people who know very little but pretend to know lots. For instance 1 month ago i was on a boat(on passage from Palma to Canaries- Barbados) and a numpty owner grabbed the wheel off the helmsman and did 650,000 euro's of damage in 3mins, in only 28knots of wind and nothing around but sea .No wonder insurance is expensive. Every motoryacht roughly cost 15% of the purchase price every year to run not including 'dep'. Scary and many buy them on a wim. The last owner i worked for had 2 boats ,the sistership to mine had not had the hose clamps checked on one of the 700hp motors and the alarm disconnected,it came off and cost $200,000 U.S and 6 months charter fees which the owner needed to run the boats , as the weekly charter rate was $20,000. Luckly I was on top of my boat, as it/I covered most of the other boats charters and cost of both boats.It just goes to show you never no when the s--t is going to hit the fan and you need the dosh.
E2DJH said:
Hi Joseph, i have run expensive toys for a few years, including a couple of boats. What i have noticed is that it is all down to frame of mind. When "want" becomes "need", then you will find the money. Just recently i recognised that i "needed" a Chim - hey presto,problem resolved.
Best post on PH. Ever!
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