How do i know when i can afford a ferarri?

Question

does my house have to be completely paid off?? for me to buy one??

Answer 1

I'm afraid if you have to ask the question you can't afford one, but having your house paid off wouldn't be a bad thing, it would mean more money set aside for the car payment.

Answer 2

all i know is my dad owns over 25 properties around the U.S. , and i got mines for free.

Answer 3

when you have over 500k

:P

hey its the truth

Answer 4

You'll know you can afford it when you don't have to ask questions like this anymore.

Answer 5

When you have enough investment in your 401K, Retirement, and stock option in your work.  No, you dont have to pay your house off inorder to have a Ferarri.  Just making sure that you have enough money left over to pay for everything else beside your Ferarri.  You will needed at least two cars, one for enjoyment and the other one for work.  That's my two cents.

Answer 6

When you don't have to ask this question. Being able to buy a Ferrari and being able to AFFORD one are two different things.

Answer 7

Your house has nothing to do with it.  If you've got great credit a great job and you can afford payments around $5000 a month and insurance payments that are probably just as high, go buy one.

Answer 8

when you have $280,000 in cash or can make a $5,000 a month car note.