How Much Annual Income Should You Have Before Buying a New Porsche Carrera?
Goals have a way of motivating people. If your goal is to buy a brand-new Porsche 911, you’ll have to motivate yourself to at least this level of income. For a base-model Carrera, which after a few options comes in at just a tick under $100,000, your job should have you pretty well off before you place some cash down. After taxes, fees, and all of that other fun stuff, we’ll round to an even $120,000 for ease of math. This, of course, doesn’t factor in equity from a trade-in vehicle.
As a good rule, it’s always best to leave all automotive expenses at the 20-percent mark of your annual income. That includes not only your payment, but also maintenance, insurance, gasoline, and more. Notwithstanding other debts, such as loans, mortgages, rent, etc. Once you’ve established your 20-percent budget, it’s time to break down some numbers.
For the instance of purchase, rather than lease, I’m going to estimate a 60-month payment. This comes to about $2,000 per month. By my estimates (adding 1.125% for up-keep), you should be making about $135,000 per year before you buy a base model Carrera. Have a trade-in? You can jump in the game even sooner.
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