Hey Guys, Just curious about your opinions; What is the lowest yearly income and net worth you would have to have to be comfortable purchasing a new 458 at MSRP?
As long as you have the resources and the expendable income to make the payment the rest doesn't matter
These are big boy toys...if you have to ask that question you may need to play in a different sand box....
I don't make big boy money but am still comfortable buying the car.... It just becomes a matter of #1- Do you have the income to buy the car, #2- What are your priorities as far as materialism goes... In other words, what else do you want in life?? There is a guy I went to college with who spends 3/4ths of his salary on his car. Lives in a very modest home, No frilly clothes or expensive watches, just loves his car and family in that order.. #3- Does the wife approve!!!! Tony.....................
The money is only the first hurdle. Then you will have to try and get an allocation from the dealer if you want a 458 built... CH
If you are paying cash and not financing purchase, net worth is irrelevant. If you are financing purchase and have a job with the correct ratio of income to expense, and filed tax returns for proof of income, net worth is also irrelevant. Net worth would only be relevant if you were retired and living off your investments. Annual income impossible to estimate without knowing such factors as: single or married? Children or no children? Renter or homeowner? Mike
Typical new owner stats from Ferrari of N.A.: http://www.ferrarichat.com/forum/showthread.php?t=223187
Exactly. The question should be disposable income, and even that has a different meaning to anyone you ask. I'm reminded of the old joke "if you have to ask, you can't afford it".
That's nice. Dude wants an opinion and everybody trashes him. Pinin point is only you can know if you can afford it. Buying a Ferrari is not an investment, YOU WILL LOSE MONEY. If you buy a 458 you will probably get smoked to the tune of tens of thousands of dollars when you sell it. If you can piss that away no prob then you can afford it. Personally I think if you are single and young it's one story, if you have future obligations like kids etc it's another. When I was younger I paid cash for a brand new 355 and didn't really care. I figured I could cover the cost through income so who cares. My net worth today is 10-15x what it was then, but I have three kids now and no way would I pay $250K for a car.
Nicely answered, as I so appreciate the humor of the other "anticipated" answers this was kind of you.
id say 3M net worth, and 750K a year. buying a car thats more than 10% of ur net worth wld be silly to me, especially if its something like a 458 that will depreciate like crazy. U might as well take the money to vegas and bet on black. if ur altering ur dialy life to pay for a car, its too much.
Net worth is always more important than income. For instance, if one has 10M laying around, no debt and minimal expenses, then the income might as well be zero. OTOH, if you have to borrow to buy one (as opposed to choosing to borrow) you are being foolish financially speaking no matter how high the income. Dave
Surely there's no single answer to this question. BTW, I've noticed high income guy spends more freely than high net worth guy.
I think 'big boy money' is relative. Im going to ave to say anyone who buys a new 458 *comfortably* is making big boy money. Im in the top 1% income and live modestly and I couldnt afford a 458. Very true....I used to be one of those guys.
I think of a Ferrari is more fu money for most owners. On the other hand these cars are becoming dd which still qualifies while justifying their love of the car. Lets face it no one needs a Ferrari, owners of these beauties are looking for the best of the best - no settling when buying F-cars. To answer the OP question if you do not have fu money to buy a depreciating asset it's not affordable.
