View Poll Results: Percentage of Monthly income spent on Car payment
0-10 percent
334
44.71%
10-20 percent
203
27.18%
20-30 percent
116
15.53%
30-40 percent
28
3.75%
40-50 percent
16
2.14%
50-60 percent
10
1.34%
60-70 percent
4
0.54%
70-80 percent
2
0.27%
80-90 percent
9
1.20%
my car sites in the driveway I can't afford the gas
25
3.35%
Voters: 747. You may not vote on this poll
Percentage of Gross Monthly Income spent on Car Payment
07-25-06, 09:11 AM
#77
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Join Date: Mar 2006
Location: FL
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I don't have an IS yet, but, it will probably be in the 6 or 7% area. I look back at some of the % of car payments I have made in the past, especially in my younger single days, and I was easily in the 15 to 20% range and I still lived fairly well. I am guessing I can afford a more $$$ car. It is probably more of a mental thing, as I can not see paying like $1,000.00 on payments for a car. It doesn't matter, I like the IS too much, anyway.
07-26-06, 03:20 AM
#78
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Location: CA
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what i always found to be more adequate is the price of the car to ur annual income. i've seen ppl who were willing to purchase cars 2x their annual income but they had long term payments. from what i gather your car should cost less than 75% of ur income. but for me im still young and a newly college graduate, im gonna splurge on a car so i dont mind a 1:1 ratio. as i grow older ill wise up on my investment but for now i mite as well have some fun with my money.
07-26-06, 09:29 AM
#80
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Join Date: Sep 2002
Location: PA
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considering we are going to buy 2 new cars and my wife and I havent had a car payment for 4 years and we make over $200K between the both of us; I guess any car payment is going to take some adjustment.
oh well.. we are due.
07 IS350 w/ NAV/ML/sport package going to be special ordered next week for me.
Mini cooper S conv for her..
oh well.. we are due.
07 IS350 w/ NAV/ML/sport package going to be special ordered next week for me.
Mini cooper S conv for her..
07-26-06, 11:55 AM
#81
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Join Date: Jan 2002
Location: CA
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Originally Posted by EBMCS03
1:1
1:1
1:1 ?!!!??!?!? !
Ahhhhh I should get something else now! a Yaris?
1:1
1:1 ?!!!??!?!? !
Ahhhhh I should get something else now! a Yaris?
07-26-06, 06:13 PM
#83
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Join Date: Apr 2006
Location: CA
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Originally Posted by r4z0r3ck
i assume you live with your parents because im struggling with a 40k wage... but like i said its a good pay to start off when you just recently graduated. Plus I live in the OC with its ridiculous high rent.
Struggling? ouch.
Last edited by EBMCS03; 09-01-06 at 06:44 PM.
08-21-06, 04:08 PM
#87
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Location: NorCal
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0% for me. Cash buy.... I had to get a new roof on the house so I just took money from the house and paid for roof and IS 
rates were cheaper for line of equity on house anyways compared to auto loan.
rates were cheaper for line of equity on house anyways compared to auto loan.
08-21-06, 04:18 PM
#88
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Join Date: Dec 2005
Location: CA
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we spend roughly 3.23% on monthly car payment ($500) this does not cover insurance, gas, maintenance, etc.
on the other hand we spend nearly 34% on housing (embarrassed to even say what Principal,interest, insurance and taxes is.. and we're not even doing the Principal this year!) That my friend is the cost of buying a new home in California! DAMN!
other expenses include childcare/schooling. Food. Home related costs. School Loans... basically, when all is said and done, we really have barely anything left over.. .and what little we do goes into 401k, savings.
But we got a nice car ----dang.. this sucks
on the other hand we spend nearly 34% on housing (embarrassed to even say what Principal,interest, insurance and taxes is.. and we're not even doing the Principal this year!) That my friend is the cost of buying a new home in California! DAMN!
other expenses include childcare/schooling. Food. Home related costs. School Loans... basically, when all is said and done, we really have barely anything left over.. .and what little we do goes into 401k, savings.
But we got a nice car ----dang.. this sucks
08-21-06, 04:38 PM
#90
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Join Date: Jun 2006
Location: Ga
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we spend roughly 3.23% on monthly car payment ($500) this does not cover insurance, gas, maintenance, etc.
on the other hand we spend nearly 34% on housing (embarrassed to even say what Principal,interest, insurance and taxes is.. and we're not even doing the Principal this year!) That my friend is the cost of buying a new home in California! DAMN!
other expenses include childcare/schooling. Food. Home related costs. School Loans... basically, when all is said and done, we really have barely anything left over.. .and what little we do goes into 401k, savings.
But we got a nice car ----dang.. this sucks
on the other hand we spend nearly 34% on housing (embarrassed to even say what Principal,interest, insurance and taxes is.. and we're not even doing the Principal this year!) That my friend is the cost of buying a new home in California! DAMN!
other expenses include childcare/schooling. Food. Home related costs. School Loans... basically, when all is said and done, we really have barely anything left over.. .and what little we do goes into 401k, savings.
But we got a nice car ----dang.. this sucks
Gotta luv the ATL!! It's not cheap necessarily, but the housing $$ goes a lot farther. Based on your numbers, I can say with certainty that your lifestyle in Atlanta would be......different
