Lets’ say you earn $ 150,000 or $ 200,000 per year will you be able to afford a ferrari 458 italia and audi r8? Will it be possible?
Answer by Isaiah
It depends on how much other bills you have to pay. I know a ferrari 458 italia cost around $ 300,000
and if you get a 24 month contract you will be paying around $ 12,500 dollars a month so if you get a 48 month contract you will be paying half of that a month which is $ 6,250 for 2 years. The audi r8 cost about $ 120,000 which you probably will be able to afford depending on your other bills. Most dealership give a 5 year contract. Hope this helps
Answer by Nash
I’m not sure which country you’re from but in my country an audi R8 costs around 600-700k so you can imagine how much a 458 costs.
On a serious note,
2 things to consider : Buying(1) and Maintaining(2)
If i assume that you’re in the US, then its about $ 120k for baseline model.
1 year loan(0% interest) = 10k a month
2 Year loan (0% interest) = 5k a month
If you factor interest rates for 1 year loan = ~10.5k -11k a month
Longer the loan the more interest you pay
Assuming you have minmal expenses, you’d be able to take a 2 year loan and buy an R8, given that you get reasonable interest rates you would be able to full pay for the R8 in 2 years.
Keep in mind you would probably need to set aside about 30% of the cars cost or even more to maintain it over the following years.
In regards to buying the ferrari which should be around 300k in the US, is possible but not financially viable at all
Answer by Paul S
Assuming you are talking about US dollars: no.
A Ferrari 458 will cost you $ 260k+ after taxes and license. Assuming you could come up with a down payment of $ 100k, and could arrange for a 60 month loan at 4% (all of which is probably unlikely if you’re asking this), you would be paying over $ 2500 a month… but that’s just the tip of the proverbial iceberg with Ferrari ownership. When you consider cost of ownership for things like regular maintenance, insurance, and consumables like tires, your actual cost will be closer to $ 5-6k/month. And given more realistic terms for financing, you are probably looking at more than $ 10k/month in total costs.
Out of $ 150-200k/year, you will realize a take home of around $ 110-150k… meaning at the lower end you can afford the Ferrari if you live in it and give up things like eating; it will be only slightly better at the higher end. You will have roughly $ 30k to pay for a place to live, eat, fund another car (since if you plan on driving the Ferrari all the time, the maintenance and insurance costs will be such that you can no longer afford it), etc.
The cost of an R8 will be about half that of the Ferrari in both purchase price and most ownership aspects… and at least closer in line to matching up with your $ 150-200k stated income (there is no way to own both as you state).
As a general rule, you should not be spending more than 1/3 of your income on a car… which would mena you should be making $ 600-700k MINIUM before you consider the Ferrari (and should be making $ 300-400k before you consider the Audi… at a Million you could consider both). However, given the high cost of ownership and the need to maintain an additional car or cars, you would realistically want more cash flow than that in order to really be able to afford these cars.
Just out of curiosity, how much would a ferrari 458, f430 or something along those lines be leased for (per month) ? say for 3 years.
Answer by ElGrande
Only record company moguls and the true wealthy lease these vehicles as tax write-offs.
There really is no answer… if you want a ballpark figure, you’re looking at $ 2500/month, minimum. Then add insurance of about $ 1250-1500 a month as well.
Anyone trying to lease goes through a thorough check of assets and credit worthiness. 99% of the lenders that do this will expect the lessor to have the money in the bank to cover the entire cost of the vehicle in case of default.
Answer by S
That depends on the model.
A 2014 458 is 3k a month, but you can get a 2008 f430 for 800-900 a month.
It’s not worth it either way.