Depends on how you acquire it. With the way home equity loans are these days in California I could buy one tomorrow. Is it smart to do that though? NO. I assume most Ferrari owners pay cash from their disposable income. Wife and I made about $300K last year but between mortgage payments, 401Ks maxed, other investments, taxes, etc there is no way I could get a Ferrari except on credit (or very used and abused). I could mortgage the future to get a Ferrari now but I bet most Ferrari owners DO NOT do that.

Maybe I am just too conservative. Screw the early retirement and nice house. I'll move to a studio apartment, dump my investments and get me a F430!

 

Seriously? (About your uncle, I don't care what car you drive )

 

Yes, I do.

<---Check the license plate.

 

I think the question is very vague. There are a lot of factors that aren't clarified. WHAT ferrari are we talking about? A $35,000 308 or a $500000+ Enzo? Also a guy making 150,000 a year with no wife, ex-wife or kids is going to be a whole lot different than a guy with a wife, and an ex-wife, and 4 kids... half of which he's paying child support for. See my point.

So it's all relative. I personally am setting my sights on a 348 that I'll someday own. Price tags now are $45,000-$65,000. I'll probably save for some of it... maybe finance the other part. Not too much farther down the road and I'm no millionaire that's for sure.

 

But the comment that if you have to ask, you can't afford it is pretty far off. Many ferrari owners are rich because they make wise investments, have sacrificed, etc. They KNOW money and they aren't going to waste it. They want to enjoy their Ferrari, but they certainly know how much it costs.

 

^ I would not assume Ferrari owners are better with money than anyone posting here. Near me Ferraris are very common (I live next to a valet that has a dozen at all times every weekend day) and in West LA people lease 360 Modenas like they would an S500 or an S2000. I know financial writers love to treat the rich like they are financial gods but it is simply not true, statistically. Many millionares are born rich, others make a ton of money in business, some scrimp and save and never spend, and others live above their means and lose it all (cough.. M.C. Hammer).

To answer the original question: $250,000 a year, assuming everything else in my financial life was in perfect order.

 

A good rule of thumb for the average person is that they can comfortably afford a car which is equal to half their income. So at 60k on average you should be able to comfortably afford a 30k car payment.

Granted this is not at all perfect just a very rough generalization.