how much......?

[phiebert]

My one cent opinion is:

First of all, this type of question is probably something for the "Off-topic" forum.

Not a lot of people are all that comfortable talking about what they make. If they think they are low relative to others they might feel embarrassed, if they think they are high, they might feel they are bragging. Some already made their money and are retired, others are stretching themselves beyond the limits to own the car of their dreams.

So the bottom line is you probably won't get a lot of actual responses to your question. If you want my useless advice...

Build your carreer, save for your garage and house and start your "master plan" business and then think of rewarding yourself for your success when it happens. I'm relatively young but have the attitude, unlike most other younger folks, that you have to earn the right to pamper yourself. If you can afford to buy the car for cash or make payments on it that you won't notice, go for it. An exotic car is like going to Vegas, if you can't afford to lose the money, don't gamble it! If you can go to Vegas today and afford to sit down at a table and drop $40K and not have it bother you tonight, then buy a used Gen I Viper. If you can sit at that table and lose $80K and still sleep tonight, buy a 2001 Viper. If either of those scenarios scare you, work for a while first!

 

[Steve-Indy]

Patrick stated the case VERY well ! There is a LONG thread on this in the recent archives(last30 days)...I would recommend that you allow for a several thousand dollar emergency outlay if you get an older Viper...ALWAYS go for an extended warrenty. I am very well informed about post grad costs, etc, and am merely suggesting extreme care in budget process as I assume you ARE getting the Viper regardless of advice given here...just don't become a slave to it, then have to sell it quickly at a loss during a downturn...a friend of mine drove one about 6 mo. and had to liquidate his in this fashion...total loss about $17000.00 over 6 mo...an EXPENSIVE RIDE !!! I will admit that my wife and I have shared a "car passion" for 34 yrs...SHE got us into Vipers, so we are always looking for a way to grab another one with HER motto of "You can't have too many!" If you want to REALLY TALK about it further, give me a call tomorrow. Have fun, and Happy Holidays

Steve and Elaine Fess Ind/Ky and ILL VCA 317-873-6023 or 317-431-1375

 

[Jay Herbert]

I did something I don't often do here, went in and fixed all the spelling errors in your first post. I'm an Mechanical Engineer to, and the spell checker was a "must do" for the forums in my book (just ask Tony how badly I spell.... that's why he put it in).

I've got a few comments, expecting 50-70K right out of school, even with an ME masters, is an unreal expectation. We hire ME's all the time, even one with a master and experience is just bumping into the bottom of that salary bracket. Of course, inflation will move the bracket between now and when you graduate, but prices will move to, so it's a wash. Yes it depends on grades, Job Responsibilities, etc......

Asking a persons salary is a "no-no". Better learn that before you enter the work place.

How to save is a good question. What to save for is a better question. After Graduation - House amd Spouse are #1, Cars #2 I own a Viper Because I bought a dependable used car after college (a $5000 Honda Civic Wagon) and paid it off in less than a year. It was my car, camper, and truck. I kept it five years.... I put all the money I was not making in car payments into my house... and was two payments away from paying it off when I sold it to buy a bigger one with a three car garage. THEN I bought the Viper. (Yes I had my neat cars, but I built them myself, I did not go write a big check for them)

When in college, you live on scraps. Do this for the first five years out of school, spend the money on things that maintain or grow in value (a house), save 10-15% of your income for retirement and after 5-7 years you will have more disposable income than you know what to do with.

Other option, buy a fancy car that will depreciate, live in an apartment that builds you no equity, and in five years you own a car worth less than you paid for it, have no savings to fall back on, or a house to call your own and your apartment manager is driving his Viper.

Short version: It is now how much you make that matters, it is what you do with it that counts.

We probably should move this to "off-topic".

"Father Jay"

 

[Mike Brunton]

I've seen Jay post this information before, and he is 10,000% correct on this one.

Most people aren't going to say what they make for obvious reasons, but I think I remember reading that the average age of a new Viper buyer was 48? (or 52?) and it was something like 99.9% male. The average salary was just about $100k, I believe.

As for your expectations, I think it depends on where you plan to live and work. In the Boston area, a friend of mine was offered $42k a year starting salary 3 years ago. He graduated with a bachelors from a pretty good school, and was recruited by a top company "looking for the best". Now, in Boston, $42k a year buys you nothing - and this friend can't even afford to buy a decent house. It's all relative.

Want my advice? TAKE JAY'S ADVICE! Buy a house first, and concentrate on getting yourself situated first. It's hard to make enough to drop $80k on a car (or >$1k a month for financing). I see a LOT of people planning what sort of nice car they're going to buy once they graduate, but it's not as easy as that. In some parts of the country, $80k can buy you a nice house, and that's a lot more important than a car.

If you save, spend carefully, buy a house, and work on creating multiple streams of income (work is one, investments is another, side business is another, rental property can be another), you will soon find yourself "all set", and your decision will be what color new Viper you want, not "what can I afford".

 

[BigsViper]

Don't forget, according to J.D. Powers the Viper holds it's value better than any other car! Also remember, an $80,000 car, financed with insurance will cost you closer to $123,000 after five years, then it will be worth $33,000, so net you have $90,000 in it. Since that is after tax money your spending, figuring a conservative rate of 15% and your 10% for FICA and medicare, you would need to make approximately $164,000 in those first five years just to pay for a car!!! If you make $50m/year in year one, then ramp up $5m/year for the next four years you would gross $300m during that period. OVER HALF OF YOUR GROSS INCOME WOULD GO TO THE CAR AND TAXES!!!!! Listen to the wise young middle-aged folks and line things up. Your Viper victory will be longer lasting and more meaningful then. Otherwise you and everyone else will just feel like you can't afford it /don't deserve it. FOLLOW YOUR DREAM, THE RIGHT WAY!

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[BigsViper]

From a piece-of-mind standpoint I might agree with multisync23. Only problem is the tax effect. If you live in a state with decent lease and tax laws you can possibly own a snake with a lot less cash out of pocket. Like any other major expenditure, run the numbers. Emotion plays a part in purchasing a snake, just factor that in and don't jump blindly....

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[Nadine UK GTS]

Regarding Viper resale value, you'll like it so much you won't want to sell it, so it doesn't matter! (Wouldn't worry me if the market value of my snake was just a few bucks, it will always be priceless to me; and never for sale).

I will answer your question; my annual salary equates to USA $25K! (but, I also put in a lot of overtime)

Work hard play hard! Get saving, and a place sorted to keep your Viper in first. Never mind what anyone else earns, if you really want a Viper, then one day you will.