Services
PriceProtect™
DriveShield™
GarageGuard™
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
"How much income do you realistically need to make to afford a $200,000 Ferrari? I'm thinking of buying a Ferrari, as I recently had a promotion and bonus at my job."
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Let’s say that you can realistically get a
new car
loan for the $200,000 Ferrari at 3.5%. Your monthly payments would be (assuming the rate stays the same for the length of each term):
60 months = $3,774
48 months = $4,606
36 months = $5,994
So if you were to adhere to the idea that you should never pay more than 10% of your monthly income on a car (at least at the 60-month term), you should make $37,740 per month, or about $450,000 annually to be able to comfortably afford the car.
Keep in mind that you’re also going to a sizable amount for
car insurance
on an exotic car, so factor that into your budget as well.”
View full answer
“My experience with Jerry has been absolutely incredible. It took my car insurance from about $400/month to about $80. The entire experience is seamless.”
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies