Can you buy a exotic car making $120k a year?

Rodrigo Pezley: I forgot to say that I'll have say $200k saved up. Which makes the Ferrari about a $60k finance.

Brenton Cornwall: No. First off, making $120K a year means you clear maybe $6500-7000 a month after taxes. You don't walk away with all of it monthly. Second, and this is the big one: None of the lenders will loan you more than you make in a year. Lenders for exotics want to see that you have the money in the bank to cover the investment in case of default (which happens WAY more than people think, as most folks do not finance exotics), and they also want to see an income somewhere in the neighborhood of 3-to-4 times the price of the car itself. The monthly outlay means nothing to the lender... it's all about debt/income....Show more

Dallas Bartolini: Depends where you live. If you live in a very expensive area, then chances are that you won't. Vice versa, not really.In general, if you have to ask people if you can afford something, especially when ! you can't budget for yourself and expect us to do the budgeting for you, then chances are that you can't.

Kate Baune: if you have to ask if you can afford it, then you most likely can't, people that buys those's types of cars, doesn't ask that say I want this, and its ordered or located.

Chris Rosenkranz: Maybe. You need to run the numbers through a auto loan calculator (just Google it) and find out what your payments would be. But don't forget the two biggies, sales tax and insurance. Insurance payments could easily be as much as your car payments.