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

[Poverty]

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?

So lets have two scenarios one pcp, one hp.

Oh and lets say that other than the monthly car payments the only other outgoings a month on bills total £600 a month.

So to pcp a 35k car with a 10% deposit over 42 months @ 10% apr would cost £679 a month.

To hire purchase the same car with the same deposit @ 6.5 apr would cost £840 a month.

So you have two options, how much do you feel someone would have to take home a year to afford such a luxury?
 
Could be interesting reading

[NB07]

geez i wish my out goings were near 600 a month! i guess you still live with your folks??

and the poll is a bit pointless really as people earn lots of money but dont have any to spend and vice versa people on low wages manage to spend it all.

[Poverty]

geez i wish my out goings were near 600 a month! i guess you still live with your folks??

and the poll is a bit pointless really as people earn lots of money but dont have any to spend and vice versa people on low wages manage to spend it all.

This isnt about me dude, I was just wondering really, wanted to try and make the poll sorta balanced, as im sure alot of the older members on have their mortgages paid off, or their mortgage is from the 80's and 90's with a repayment less than most of us spend on v power a month, and wanted to gauge their experienced views.

[Nickyboy]

I'd want to be on at least 40k before paying those figures a month for a car.

[vRS Carl]

I would say you would need to be earning £35k+ a year.

That would give you around £2200ish per month so minus the £1279 would still leave you £921 or about £225 per week for food, fuel and other incidentals. 

[Jules86]

It depends really as i have household earnings (as in myself and the missus) which puts me on alot higher than my earning at the moment. Our outgoings are high though with the mortgage being close to £1000 a month before anything else! So 35k is a bit too much at the moment. Im going to wait untill i bring in our current joint income until purchasing my next car which is about the value you have used (an RS4 avant) as i will be more comfortable to pay for it and my mortgage drops in 18 months by a few hundred a month so will help.

I dont think its what you earn but more what your circumstances are. My best mate earns £10k less a year than me but has much more expendable cash as he lives at home.

Would rather own my own property than have a £35k car at the moment, its makes more sense to buy a house in the current low market than a car (as much as i would love to)

[wigit]

Would rather own my own property than have a £35k car at the moment, its makes more sense to buy a house in the current low market than a car (as much as i would love to)

wise words 

[Lean]

Would rather own my own property than have a £35k car at the moment, its makes more sense to buy a house in the current low market than a car (as much as i would love to)

wise words 

Indeed but wiser words are... wait and buy a house when the repossession begin to fill the housing market as the interest rate returns northwards people are going to be caught out.. particularly those who think they have a bargain now.

Sit tight and save for now

[jonnyc]

Really depends.. Will your only outgoings be the car? I presume you pay payments on the K1?

I guess you just need to think how much you need a month for 'playing' really..

[maxp]

Its not just the price of the car, it's the upkeep and running aswell.

£35k gets you a tidy second hand 996 turbo, can you imagine the upkeep on that!

[Poverty]

everyone thinks this is about me lol. Couldnt ever pay 679 a month to pcp something, 840 a month on hp is also alot of money. I mean say I was taking home 2200 a month and pay 860 a month on the car that would leave 1340 a month, and once you have paid for v power, insurance,mods and maintenance and just general living thats not alot?

Another reason that made me start this poll is because of the amount of 30-40k cars I see around london, and not the rich parts either, owned by people with families etc, and I just wonder how they do it?

[Jules86]

Joint income mate. If i increase to where i should and the missus stays on or increases slightly i could afford a nissan gtr in 2 years, wont happen though as life is never that straight forward!

[Jules86]

Would rather own my own property than have a £35k car at the moment, its makes more sense to buy a house in the current low market than a car (as much as i would love to)

wise words 

Indeed but wiser words are... wait and buy a house when the repossession begin to fill the housing market as the interest rate returns northwards people are going to be caught out.. particularly those who think they have a bargain now.

Sit tight and save for now

Its not that simple mate, many many more variables. I saved £40k buying mine when i did as its increased by that now so im happy.

[Edition30]

I would say if your in a 3-40k+ job your likely to have a company car and it would work out cheaper anyway. It works like that for a family member. Gets an allowance and can add to it if he requires. Basically get a GTI for about £60 a month or something ridiculous.

[edd666999]

More than a 10% deposit imo is how they do it! Maybe trade in + savings?

I pay 1k a month on mortgage n bills only just leaves enough for the gti, food, insurance, fuel, savings n living. Can't see £2200 being enough!