As you've pretty well figured out, this isn't about whether you CAN afford an F-Type, but whether you're comfortable buying one. I get it, and it's a fair question.

The F-Type is a LOT of fun, but if you're going to regret watching $20k walk out the door after a year's ownership, you're not going to be a satisfied owner. If you're not quite ready to burn through some serious money, consider buying an older toy. I started that way and felt much better along the way. Even on my F-Type, I bought one a year old and let someone else eat the first $27k. If you decide to buy, I'd go that way.

Meanwhile, I've been very fortunate that the toys have gone UP in value more than the F-Type cost.

 

One thing we tend to forget sometimes is that by buying a new Jaguar we're not just getting an awesome Car we're supporting Jaguar, they employ a lot of great, talented And hard working People. We are helping them create jobs all over the world.

They have special programs to train and develop Veterans and have great Apprenticeship and other Training schemes . They are investing in People's futures.

 

Forget what others think. If you want a toy and can afford it, buy it. If you want transportation buy a Jetta TDI or something.

 

Umm. They don't sell Jetta TDIs any more. Did you miss the VW Diesel scandal?

 

Quite correct, but I always buy used. You can get quite a deal on them.

 

While, in general, this approach works it doesn't always work this way. For example, I set out to do exactly what you described because eating initial depreciation on $100K car was cringe-worthy for me. I ended up with a new, because this specific dealer was willing to give me $15K off MSRP to drive 2016 off the lot. Suddenly, my initial depreciation flattened and became comparable to buying used. Only I didn't had to wonder if PO redlined engine every time from cold starting day 1.

More so, you have to consider both buying and selling. Your car's value could be X, but if trade-in value is only 0.8X you have to factor that in. Generally, I find dealing with dealers for anything but purchasing a new car with no trade-in is obnoxious, one-sided, demeaning exercise. Less you do it, less your total car ownership cost you.

 

People are not comfortable haggling and often fall for pressure sales tactics. As such, "get quite a deal" is not your typical outcome, instead "being had" is.

 

This is true on new cars too isn't it?

 

Haggling? Just go in with the number you can afford and walk out if the dealership is giving you the run around. I did and finally the 3rd dealership was the one that gave me the same deal as SinF, $15,000 of MSRP to take the 2016 off of their lot so I jumped all over it..

 

I think the OP could have better framed the question to solicit more "to-the-point" responses. By stating actual numbers, you mostly took away the interest in answering the genuine question other than "buy if your heart is into it."

Given a person earns X and their savings rate is 0.6X (or whatever that number is), what is a good value of X before once can really start "comfortably affording" the car through lease or finance. Maybe X = $100K?

If you start taking into account your current cash balance, asset, expected sum in retirement etc, then each person will have a different set of goals. If the above math allows you to attain your goals, then you have your answer.

That alone would have helped you really know if you can afford the car. Whether or not you can find a way to justify this expense is always up to you and the community cannot necessarily give a complete answer since the situation differs from person to person and only that person can be the best judge of it.

 

At your salary level, you definitely cannot afford an F-Type. Most of us make twice what you do and can afford a 100k car as well as a Butler, Footman and Underhouse Parlor Maid. Get a used Lexus.

 

Disclaimer: I am not a financial planner, although I am good at planning to spend money.

As others have mentioned any car at this level is a toy; something to enjoy and indulge in. It is not a practical way to travel around, it's an emotional one.

The value of someone's car bears no resemblance to their income. I know a chap who drives a new Ferrari every couple of years and has a Lamborghini as a "supermarket run" car, yet he earns about £80k after taxes and after saving just about scrapes by. I know another chap who from the companies he owns must be earning at least a £ million a year, and he drives a Nissan Qashqai because it works (and is actually quite a nice car). There is no "norm" for how much someone will pay for a car, and for what it's worth the F Type generates a lot less "he must be rich" feedback than, say, an AM V8 Vantage would for similar cost. (Maybe a UK thing?) It does have a very large first impression though and you indicate in your career that may be necessary.

Honestly, don't go through life ever caring what other people may think of you. You'll waste it all on a fruitless quest. I realised that in my early twenties and I have been so much happier since.

I do understand your struggle to justify buying one though, which I think is what this thread was really about. Clearly you can afford it, but you are doubting you can justify it. I've had the same struggle for every car I've ever bought from my first £4k Renault through to my most recent F Type. Forgive me as I don't know his real name but LobsterClaws puts the justification better than I could:

For you to be asking yourself the question means that you are going to have a very similar background. "Trust fund babies" don't have those struggles because they didn't work to earn it. To get to that position in your thirties requires you to sacrifice your twenties. There needs to come a time when you make that back up. I was ultra conservative with my finances for years, working 90h+ weeks and seeing the sun rise while still working from the previous day all too often. What's the point of all that hard work if you don't give yourself a payoff at the end of it? Whatever religious views you may hold, you only get one go through life so don't waste it.

You appear to like cars for the new car affair rather than buying as keepers. That is always going to be an expensive addiction. Forgive my naivety as I don't lease cars - on a 3 year lease presumably you pay for the depreciation over that time, so leasing a 1 year old car would cost you a fair bit less than a brand new one? Or even a 2 year old car which should lose even less? For a keeper I usually buy after 1 year for that reason (dealers will always throw in a top-up warranty and service deal to replace the year you lose - all the benefits of a new car without taking a 20% hit).

I know I said don't go through life ever caring what other people may think of you, but there is one exception to that. In the end it is actually quite simple. As you are married simply ask your spouse if you can have the car.

 

Doesn't anyone else find this discussion of other people's income to be inappropriate and gauche?

 

.....honestly, yes I do find it a bit inappropriate.

Dave

 

You got to keep hoi polloi away. The butler will show this interloper out.



By the way, I am turning 35 this year and my F-type was a gift to myself to celebrate it. I don't make what OP does by myself, but decided that I could afford the car due to myself and my SO actually having well paying jobs and savings.

I decided to buy '$100K car' while I still can enjoy it without worrying about hemorrhoids when driving over rail tracks. So far, 2 months in I yet to regret it, but I don't drive it exclusively as I expected I would. Now that I've have done it, honestly, it isn't that much better than some of my classic cars. A bit faster, more electronics, a lot safer and quite a bit better on gas and has a new car smell. That it. For the price of F-type I could have easily purchased 2-3 classics in a showroom condition. I do think F-type will be collectable one day, but this is not why I purchased it. I wanted to do something 'outrageous' like that at least once in my life and this is exactly what happened.

Buying F-type must be an emotional decision, or otherwise you will see it as an overpriced chunk of aluminum wrapped in plastic, rubber, and leather.

 

I think xdave expressed my thoughts better than I am able to do myself, a few post above this.

I could not agree more.

 

This discomfort is unique to people who grew up in North America.

 

And for those of us growing up in western Europe.

 

Sorry, I though this was an appropriate venue as it is anonymous, as well I mentioned that I am not looking for others income (as I am sure some of you know each other outside of the forum).

Again, I apologize if this is an offensive topic, I am obviously not going to ask friends or family this, so I thought the forum was a good route.

(Again this is not meant to be bragging, at all, nobody knows who I am and I have no interest in impressing "virtual friends." As my buddy says, everyone on the car forums is married to a super model and makes 500k a year. Lol)

I apprentice all the input. Overall I am practical and that is my hesitation....

 

A used Lexus would be a practical choice....however the LFA isn't cheap enough yet