Drivers of expensive cars : what do they do for a living ? ! ?

[Solomon1]

I`m very interested to know what these people do for a living to be able to afford such expensive vehicles

 

Almost invariably 'B'ankers

[GLASGOWOODS]

I find that hard to believe.

 

With regards OP, I'm also intrigued to know what they deem as an expensive car.

 

It's a bit lower than my initial post Robbie (59%) according to BBC news.

 

Interestingly, they reckon around 80% of Mercs are on personal hire contracts.

[JackK0]

I have thought about this before too although I no a few people who have company cars and I no a few that have bought high end cars some because of what job they have and some with what money they inherited ..

[truman]

The people I know who have new Range Rovers and the like do not actually own them but there Company does. It can be a tax perk and also a tax deductable treat.

 

If a company is making a profit then treat yourself to a nice car at the companies expense and lower your tax liability. Even more so when their are share holders involved.

 

As for buying houses up Whirlow etc I often wonder how they do it. But I have just finished working for a single lady who sells pharmaceuticals on commision who is only in her early 40's. The house must be worth at least 750k but it is her 14th house since she was 21.

 

She is pretty good at developing property and all as a hobby. Good luck to her. Her car was a up market Japanese make and leased.

 

Can you explain how a company car is a tax perk?

[kidley]

You can pick up quite a few Rolls' for under 10k now.

 

and what mpg do they do 12? and insurance, you have to have a good job to run a RR, unless you are going to put it on the drive and polish it every other day.

[L00b]

Few people who drive high-ticket cars actually own them in my experience (and I meet and do business with such people day in, day out: MDs, CEOs and other top tier professionals).

 

Most are leased ('rented'), to people or the company they work for. They have long lost their HNW representativity. In fact, the flashier the car a prospective client turns up in, the warier I tend to be about getting paid: flash wheels (R8, Overfinch etc) + private reg and that's a garanteed "money upfront or get lost" from me. All fur & no knickers etc.

 

After all that, it's a matter of personal choice and attitude to credit. Personally, I like cars and driving, but I really don't like owing money to anyone, so I drive the best I can afford to buy and run personally (currently, a Merc C220 cdi for me, and a Cooper S ragtop for the Mrs) and change one or the other every 3 to 5 years or so.

 

Friend of mine was only telling me the other day he popped into Audi to see what deal he could get to change his A8 L. I don't know the year/reg, but I do know he bought it personally 2nd hand for around £19k a good 5 years ago if not longer (from the 1st owner, who'd put the wrong end of £80k on table for it new, and owned it 2 or 3 years: do the maths re. depreciation ) and he's still south of 180k on clock. Car is as mint as the day he bought it, and has wanted for nothing (expensed through work). Audi wanted his car and another £35k to get a fresher 2nd hander like for like. According to him, the car is no different whatsoever, but for the slightly smaller gear knob thing. He told them to keep theirs. Can't fault him.

Edited December 14, 2015 by L00b

[JFKvsNixon]

and what mpg do they do 12? and insurance, you have to have a good job to run a RR, unless you are going to put it on the drive and polish it every other day.

 

My point at being able to buy one for under £10k was in response to a poster suggesting that you'd be hard push to buy one for under £100k.

[Waypher]

Chauffeur ?

[kidley]

My point at being able to buy one for under £10k was in response to a poster suggesting that you'd be hard push to buy one for under £100k.

 

A bit of tongue in cheek from me JFK

[tzijlstra]

My point at being able to buy one for under £10k was in response to a poster suggesting that you'd be hard push to buy one for under £100k.

 

It is sort of relevant though and adds to my point, for me an expensive car is one with excessive running costs, the purchase price is relevant but dependent on the amount of money someone has available, isn't it? So the fact remains: Expensive is very subjective.