The bottom line is people should invest for their future retirement savings. You don't want to spend all the money now for pleasures. You will have no money later on when you can't work anymore. People should invest in real estate, stocks, or whatever that can build a good nest egg. Otherwise, you will be living in a homeless shelter when you retire. Or continue working while you are in your 70s just to pay for the rent. Play now or play later.

 

Oh what i would give to have car prices like the US does.

Thats the problem in Australia, there is a much bigger difference between regualar working guys and people driving ferraris etc. Like to pick up a 360 you would be looking at $160-200,000 (150-180USD). And for a 430 you need at least $320K ($280K USD). So its alot hard for regualr guys to get these types of cars. Same goes for porches, lambos etc

 

^*The only reason $320KAUD is equal to $280KUSD currently is due to the crappy below average exchange rate. Try that conversion in May of last year, you would have seen what is expected when the exchange rate was .68 rather than .93

It's all relative...Our dollars do not correlate 1:1. Australians higher incomes than Americans do for the same jobs. People who work at Subway make more than 20AUD/hour, depending upon age. This is why everything, this includes cars, is 2-3X more expensive (even Macca's). USUALLY, the exchange rate keeps things in check. Australian prices are just inflated due to the income levels.

Therefore, we can buy a brand new C-class for ~30K USD...this equates to 60-75AUD, pretty much the price of one in Australia.

 

The only reason for .68 rather than .93 was because our exchange rate was crappy at that time. True 93c is high but the average exchange rate for along time has been around the 80c mark.

To get $20+ at subway you need to be over 21 or so and be in a decent position. Remember the average salary for Aus is $52K or so which isn't that high.

Im not sure of average salary in the US but even if we say it is $40K USD (which makes it around $50K AUD factoring an 80c exchange rate) you can buy say a ferrari 360 for 2x you average salary. In Aus it is around 4x, even on a crappy Aus exchange rate.

We get ripped off with cars, it has nothing to do with the exchange rate or salaries etc, cars in Aus are higher price, specially prestige cars. Plus did you know when the commodore/pontiac was exported to the US it was cheaper to buy it in the US than in Aus, even though its an aussie car.

 

LMFAO $20/hr to work at subway! I had no idea it was like that over there

 

Very interesting points of views on this topic.

I am 35, a partner in a marketing agency and make a descent paycheck. I am single, own my own home (will be paid off at the end of the year) and chose to pay cash for my cars. I want to buy a Ferrari or Ghini and could afford to buy a used one, but, if I were to spend that kind of cash for a car, I don't think I could justify to myself having to cough up the extra money to fix it if somewhere to go wrong. If I paid that much for something, I would want the dealer to cover 100% of the costs.

I know, you can't have your cake and eat it too. Until then, I will have to stick to my high horsepower cars that are 100k or less...

 

or you could save up the price for a new one and keep the extra aside in case of any repairs etc. My bet would be that the difference in price would be more than enough to cover repair/maintenence costs and have a little extra for mods.... But it all depends on the price difference and age of the car. Most cars nowadays are fairly reliable, I'm thinking a used F430 might be worth it over a brand new one, I have heard they are pretty reliable?

Anyone else care to share their thoughts?

 

A person owning an f car, didn't dream and got rich to own it. They were already there and got it.

 

Thanks debbie downer

 

Back to the OP:

"f car fan",

I looks like you have a plan and have put sound metrics around it so I would say go for it.

The worst thing a 9-5 guy can do IMHO is to make an impulsive decision because there is very little opportunity to "generate cash on demand" with a regular job - you just can't go to your boss and say you will pull an extra 80 hours this week to pay for the car.

So, as long as your ducks are lined up and you don't go absolutely stupid - just don't get a FXX, hahaha, enjoy life and get something that makes you smile in the morning.

T.

 

huh? Doesn't make sense, I read all the time about people who wanted/dreamed to have a Ferrari one day and after hard work got it....

You have some flawed logic

 

I'm a truck driver and I just bought mi second Ferrari which is a 360. It can be done by anyone with the right motivation and hard work

 

great thread except its convincing me to buy a exotic , when i get the ***** to buy a exotic i'll post pics, first thing i have to do is find my ***** there somewhere in the wifes purse!!!!!


I have a question to the people that finance a exotic car, will any bank finance them?

 

Good for you! Those who have bought 360s recently, would you be willing to share what you paid for your cars? Just trying to get a sense of where the market is, especially for nice low mileage examples of 360 coupes and spiders.
Considering trading in my 612 for either a 360 or a 430. Might be time for a change!

 

Many banks will if you are looking for a vehicle in the 100 to 125K range. Should not be a problem if you have good credit.