This is the dreamers forum, he asked a decent question (except the insurance part, because that varies so much).If you have to worry about yearly maintenance, then you probably shouldn't be purchasing a $200+k car.
I think you’re being generous with 10-15%! I would say 20-25%.It depends a lot on the age and mileage of the car. Older cars like mine are quite expensive . Russ has no maintenance because he buys a new one every year or two and keeps it under warranty. However he has the cost of trading up every few years. It probably cost at least ten to 15 percent a year to trade up. I would say that at least 10 percent of the cost of the car is realistic. Insurance alone can be a substantial portion of that depending on your age, credit score, driving history and whether you own multiple cars on the same policy. Also the minimum liability requirements are not near enough to protect you if you get in an accident that is your fault. If you own a lambo and get in a wreck, you better be protected or plan for litigation. They will see Lambo and see $$$$. Raising minimums increases the cost of insurance substantially. Maintenance is not that expensive until something breaks. Then it is astronomical. That is why you budget extra money so when it happens you can afford to fix it. I agree with GDF in that if it is going to be a stretch to spend 20K a year then you should probably not buy one.These are not like a chevy or ford where you buy a new one, change the oil and drive it with ins of 100 per month. Many people buy them calculating just the payment then get slammed with the incidental costs.If you can pay cash or a large portion of it for the car then you can probably afford it. Even if you don't spend the cash but have it then that makes it more practical. I rarely finance toys. I will only do it if I really don't need to borrow, put a very large down pmt and pay off in a year . Lee
You seriously need to move! That's insaneWell, I'll give you my cost so far after 11 months of owning a 2013 Gallardo Performante with 10,700 miles:
Insurance: VA with StatFarm. I'm 44 and have a good driving record. $1,582 a year
Personal property tax in VA (of course it varies by state). I just paid $5,300 for a year (yikes!)
Gas: Depends on how much you drive
Service: replaced all fluids and filters (including cabin air filters) $1,950
So far nothing out of the ordinary. No repairs, tires, clutch or breaks needed.
Monthly cost of ownership: $736.
As you can see, the bulk of the cost is property taxes. I guess I need to move
Hope this helps.