How much would A guy need to make a year to buy a Ferrari?

Just wondering if a guy makes from 70-90k a year can he afford a used Ferrari 550 1998 worth 66k.


Is it possible and how much would it cost to maintain it per year?|||No, you could not afford it.





The maintenance alone will kill you, if the insurance doesn't first. Brake service will run you $3500 or more, oil changes $300-plus. Any major work to the engine will run you $10K at the cheapest. Ferrari V8's and 12-cylinder engines are VERY temperamental, and tuning them can get costly. And if you get into a fender-bender... might as well cut your arm off and sell it.





Realistically, you would need the cash in the bank to cover the cost of the vehicle in full in order to own it. And no, people don't usually lease these vehicles (especially this age). Plus, you won't find anyone (except some rare third-party lenders) that'll give you a loan on a 12-year old exotic.





And it will NOT be your everyday ride, either. It'll be a garage queen, nothing more.





*To add - don't get your head in the clouds about leasing a new Ferrari... it won't happen at your salary. Lenders usually want proof that you have 3-4 times the amount of the car in your bank account before they'll consider a loan/lease on an exotic. These are usually write-offs for wealthy folks, and are NOT the same as your typical car loan.|||Most people lease cars of that caliber because they are always willing to exchange for better cars. If you are looking at it for some mint condition and you dont care that the car is over 10 years old already then I would say go ahead. Why would you spend over 50% of your salary on a car that you want to OWN but is 10+ old, when you can lease brand new 2010-2011's for about 800-1k a month. A friend of mine has a business and leases a ferrari with about 3 other guys, they all put in on the lease amount and get access to the car at all times and they make 2-3 times as much as you make.|||SUre it is possible insurance is ridiculous and so is any work that needs to be done. I make double you do and drive a Camaro and am perfectly happy with my driving experience.