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How much do you need to earn for ferrari?

 
#1 How much do you need to earn for ferrari?
31/01/2009 21:59

greedy guts

Putting the minor issue of the recession aside for one moment, how much do you realistically need to be earning to be able to buy a ferrari or a porsche or similar while maintaining a good lifestyle and savings? 200k? 500k? 1m?!

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#2 RE: How much do you need to earn for ferrari?
01/02/2009 00:05

anon to greedy guts (#1)

u idiot

comparing ferrari to porsche..

u'r an idiot

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#3 RE: How much do you need to earn for ferrari?
01/02/2009 01:34

Halve life to greedy guts (#1)

Buy or lease? New or used? What constitutes a "good" lifestyle for you? What are you saving for?

On a salary of £40k, you could lease a 911 for £1k a month assuming you don't have a big mortgage, a lot of kids, or a drug habit.

On a salary of £20k, you could buy an '84 Mondial outright for £10k assuming you have a car to sell or some savings. Plus, you could get classic car insurance.

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#4 RE: How much do you need to earn for ferrari?
01/02/2009 13:21

nic to Halve life (#3)

Generally speaking your capacity to spend matches your income, and gets worse when you add on wife, kids etc

Even if your a loaded ex-QC Judge living in a mansion, you'll more than likely be paying maintenance (50%..), school fees, keeping up the old pile, 'staff', or just laying up port - so, rule of thumb, 'it goes'...

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#5 RE: How much do you need to earn for ferrari?
01/02/2009 17:10

anon to greedy guts (#1)

I'll bite.

1) Decide on the make, model, mileage and age of car you want. Look up in Parkers or Glass's Guides how much this will cost you. Take off trade-in value of any car you already have. Take off any savings you already have which you're prepared to spend on the car.

1a) investigate financing options (bank loan, hire purchase, credit from car dealer)

2) Add up your monthly outgoings commensurate with the lifestyle you want

3) Decide how much you want to save each month (hint: saving then spending is better than spending then paying off debt. Also, there's little point in saving when you have debts - clear them first)

4) Decide how to pay for your car - saving first or finance arrangement? Decide how much per month you can afford to save towards the car OR how much per month the finance arrangement will cost you based on the total in step 1.

5) Add the figures from steps 2, 3 and 4 together. Multiply by 12. Herewith yearly salary required for what you want.

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#6 RE: How much do you need to earn for ferrari?
01/02/2009 17:16

a to anon (#5)

previous poster anon,

guess what you have just cracked the consulting case put up by the first poster.

we are impressed with your structure, framework and analytical skills

hence forth you are hired, you shall be required to pay me 100 K GBP as your annual salary to remain employed with me.

congratulations and come on board

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#7 RE: How much do you need to earn for ferrari?
02/02/2009 11:27

anon to a (#6)

If you are thinking about whether or not you can afford a Ferrari, then you can't afford one. Most people I know who have Ferraris have several, as well as Astons etc, and yachts.

The poster above talking about hire purchase or getting credit from dealer: ha ha.

Porsches are a bit different, you can get (relatively) cheap crappy ones. For a decent one (e.g. 911 Turbo), situation is similar to Ferrari.

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#8 RE: How much do you need to earn for ferrari?
02/02/2009 12:20

Mr S. Kint to deleted (#0)

Right now a more pertinent question for myself would be, "How much do you need to earn for a zones 1-6 season ticket?"

Living in this country is swiftly becoming "not economically viable".

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#9 RE: How much do you need to earn for ferrari?
02/02/2009 14:11

anon to anon (#2)

for porsche.. u can work as a receptionist in a hedge fund, for a ferrari - you can do bank robbery

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#10 RE: How much do you need to earn for ferrari?
02/02/2009 21:49

the same anon to a (#6)

Ah, but if I'd done it as a consulting project I'd have done all the research to come up with figures 2, 3 and 4, done the multiplication then charged the OP more than the cost of the car he wants in expenses and billable time. :-)

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#11 RE: How much do you need to earn for ferrari?
03/02/2009 11:29

? to deleted (#0)

Max Peters? Does Brentford FC pay so poorly? http://www.brentfordfc.co.uk/page/YouthTeamProfiles/0,,10421~1097313,00.html

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