How much do you need to earn to buy a 35k car?

[Garth]

You can't really quantify this in terms of your salary!

It all depends on what your outgoings are and what your priorities are. When I was a lot younger, I earned £15k a year, but still spend £18,500 on an S3 because my outgoings were low and the car was my priority.

I wouldn't really want to spend that amount now even on a MUCH higher salary as I have bigger priorities

[andrewparker]

Add children into the mix and you're in for trouble. I see over £700 a month disappear in nursery fees

Had you considered that a lot of these people might be leasing these cars? I know a few people, one with an R8 and another with an Aston V8 Vantage N400 who are leasing them. It's much easier to lease a car than get finance or an unsecured loan for one.

[Oli]

It's much easier to lease a car than get finance or an unsecured loan for one.

No its not, its harder at the moment - we are finding it easier to get customer though on finace than leasing - They want a lot more info to lease.  People always think it easier to lease, and this has never been the case!

[andrewparker]

Ah right, they seemed to suggest otherwise. Perhaps they were just trying to get me in a Aston!

[Richn83]

I wouldnt take either of those options, both are far to expensive for a loan on a car, especially not if the total other out-goings are less.  And they would certainly have to be well inside the higher rate of tax, 40+

[Smudgster]

What you probably find is ppl have put down sizeable deposit or a p/x which is fully paid for. To put it into perspective if you have an 05 gti which is worth circa £10k paid for (say purchased new over 5 years) 25K on finance is just £400 per month. This make the car more affordable if you have the disposable income.

I have friends in similar circumstances, both need cars they have one low value, cheap to run car and then a nice new family car. Both myself and the wife both like cars so we have 2 nice cars, but if I could I would change and have a banger and a Golf R 

[RedRobin]

After reading some comments from the Golf R thread it made me think (RR), how much do you think a person needs to earn as a basic annual wage to afford a 35k car with a minimal deposit?

....I don't have a clue, mate - I've always bought my cars cash outright.

[GTIjames]

my grandad always told me that you should never spend more than 10% of the value of your house on a car..

best to get your priorities in order first imo 

[RedRobin]

my grandad always told me that you should never spend more than 10% of the value of your house on a car..

....What sort of cars were around in your grandad's day?

[Poverty]

my grandad always told me that you should never spend more than 10% of the value of your house on a car..

best to get your priorities in order first imo 

good advice in a way, but doesnt work for people who inherit houses. The amount of people I come across in lackheath who live in these mini mansions worth millions of pounds, yet cant even afford to update their central heating system or get the system flushed out and working efficiently is beyond me.

But actually thinking about it alot of people with flash cars on the drive are the same, "sir, for your central heating to work properly it needs £700 worth of work" to which they reply "I cant afford that" and me then thinking to myself they cant afford to stay warm and comfortable, yet have a new 30+ k  car on the drive. And I dont think their beemer can keep them warm either 

[Smudgster]

Poverty,

I agree with you. I know someone in that situation, both have very good jobs, stunning house, nice cars but they aint got a bean of surplus cash. I mean you walk in through the front door of the house is like watching Ashes to Ashes 

For me theres a fine line. I will be honest and I think I am just the wrong side of it, I mean I have fully refurbed my house inside 5 yrs ago but if Im honest the house needs painting and the facia and guttering needs sorting but I havent got the cash at present to do it. Would I down grade my motors to sort, NOPE!!! I enjoy my cars to much!!! Its all about priorities, but in now way would I have the cars if the house need something as fundemental as a new central heating system etc etc

Smudge

[RedRobin]

....

A car is a big status symbol for a lot of people, perhaps more so than a house because it's mobile. @ Poverty: It's not just the big houses - Look at the expensive cars (Golfs included!) on some of the drives of estates of modern houses which are not much more than low ceilng boxes of tiny rooms which all look the same or very very similar. Often more than one car too.

My home needs a bit of attention but it's comfy and everything works and I'd much rather spend on modding/maintaining my beloved red chariot.

[tanbe174]

Add children into the mix and you're in for trouble. I see over £700 a month disappear in nursery fees

Had you considered that a lot of these people might be leasing these cars? I know a few people, one with an R8 and another with an Aston V8 Vantage N400 who are leasing them. It's much easier to lease a car than get finance or an unsecured loan for one.

just loan the car for a few days. I see a lot of asians who drive around with lambos, ferraris, R8 who just loan them.

[candy turbo]

if you need hp/pcp that costs £500 + a month imo you cant afford it , end of 
i know you dont get any discounts for buying out right in cash nowadays but i see my car as a bit of a safty net , if i loose my job etc i can sell my car and have its value in ready cash 

[RedRobin]

Add children into the mix and you're in for trouble. I see over £700 a month disappear in nursery fees

....I guess if both parents feel they must both work you'll have nursery fees - But do they really need to both work? Overdo your debt commitments in terms of house and cars etc and you're into having to both work. I ask what kind of mother wants to work? I've had 2 children and never spent a penny on nursery fees - Too many children grow up without enough parental contact in my opinion.