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
10-23-06, 11:23 AM
#106
i live in a old washing maching box, i cant even afford the gas!.........
seriously its about 11% of my net,i never have really figured it out yet. TCO, gas insurnace and cleaning supplies is another 2%.
Post some pics of the e55, i love those cars...............
seriously its about 11% of my net,i never have really figured it out yet. TCO, gas insurnace and cleaning supplies is another 2%.
Post some pics of the e55, i love those cars...............
Last edited by kilo6_one; 10-23-06 at 11:26 AM.
10-23-06, 11:39 AM
#107
Lexus Champion
If our household income was about twice what it is right now I'd definitely consider it.
The IS350 is a very nice daily drive car and I picked it out of the G35 coupe, BMW 330i/335i, Audi A6 and the Acura TL. Cant BEAT the LEXUS's legendary reliability reputation. 
And speaking of A4s... just FWIW, the A6 is not intended to compete with the cars you drove... the A4 is. The A6 is more along the lines of the GS/5-series/E-class. Though I'm sure you realize that, it's strange you tested the A6 instead - probably handles like a boat compared to the rest of 'em.
And speaking of this class of car - the all new CTS looks like it's going to be some serious competition!
10-24-06, 09:26 AM
#108
Driver School Candidate
Join Date: Oct 2006
Location: FL
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Wow..this has been a pretty interesting read...so I jumped on the lexus web site to play with the calculator-
IS350 in Florida w/ some goodies - $38K
try to be average with good credit - 9.3% w/ say $5K down
for owning at 60mnths - $687
leasing for 48mnth - $491
by trade I'm an engineer lets say I make about 70000/yr
b4 tax thats gonna be: 9% to lease 13% to own.
Lexus is a higher end car and I would say the AVERAGE income for a single person may be less than 70K (I could be wrong) so people should be falling between the 9-15% range. I'm not being critcal of anyone...but I have made a personal decision not to spend more than 15%-20% at the very max. Most car guys will pay anything for teh car they want so I know the temptation is great. I'm building a turbo charged civic hatch, and thats a money pit!
I also own my own business so thats payin for my toy.
IS350 in Florida w/ some goodies - $38K
try to be average with good credit - 9.3% w/ say $5K down
for owning at 60mnths - $687
leasing for 48mnth - $491
by trade I'm an engineer lets say I make about 70000/yr
b4 tax thats gonna be: 9% to lease 13% to own.
Lexus is a higher end car and I would say the AVERAGE income for a single person may be less than 70K (I could be wrong) so people should be falling between the 9-15% range. I'm not being critcal of anyone...but I have made a personal decision not to spend more than 15%-20% at the very max. Most car guys will pay anything for teh car they want so I know the temptation is great. I'm building a turbo charged civic hatch, and thats a money pit!
I also own my own business so thats payin for my toy.
10-24-06, 02:45 PM
#110
Wow..this has been a pretty interesting read...so I jumped on the lexus web site to play with the calculator-
IS350 in Florida w/ some goodies - $38K
try to be average with good credit - 9.3% w/ say $5K down
for owning at 60mnths - $687
leasing for 48mnth - $491
by trade I'm an engineer lets say I make about 70000/yr
b4 tax thats gonna be: 9% to lease 13% to own.
Lexus is a higher end car and I would say the AVERAGE income for a single person may be less than 70K (I could be wrong) so people should be falling between the 9-15% range. I'm not being critcal of anyone...but I have made a personal decision not to spend more than 15%-20% at the very max. Most car guys will pay anything for teh car they want so I know the temptation is great. I'm building a turbo charged civic hatch, and thats a money pit!
I also own my own business so thats payin for my toy.
IS350 in Florida w/ some goodies - $38K
try to be average with good credit - 9.3% w/ say $5K down
for owning at 60mnths - $687
leasing for 48mnth - $491
by trade I'm an engineer lets say I make about 70000/yr
b4 tax thats gonna be: 9% to lease 13% to own.
Lexus is a higher end car and I would say the AVERAGE income for a single person may be less than 70K (I could be wrong) so people should be falling between the 9-15% range. I'm not being critcal of anyone...but I have made a personal decision not to spend more than 15%-20% at the very max. Most car guys will pay anything for teh car they want so I know the temptation is great. I'm building a turbo charged civic hatch, and thats a money pit!
I also own my own business so thats payin for my toy.
46220 - 38k = $8220 extra
Again i don't think it's bout the percentage of your income... if you can afford to pay it off in 3 years you will save a decent amount of money.. probably round 4~5 k.
10-25-06, 03:31 PM
#111
Lead Lap
Join Date: Sep 2006
Location: CA
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Originally Posted by Threxx
You drove the 335i? What did you think of it? I'm strongly considering it when my A4's lease is up.
And speaking of A4s... just FWIW, the A6 is not intended to compete with the cars you drove... the A4 is. The A6 is more along the lines of the GS/5-series/E-class. Though I'm sure you realize that, it's strange you tested the A6 instead - probably handles like a boat compared to the rest of 'em.
And speaking of this class of car - the all new CTS looks like it's going to be some serious competition!
And speaking of A4s... just FWIW, the A6 is not intended to compete with the cars you drove... the A4 is. The A6 is more along the lines of the GS/5-series/E-class. Though I'm sure you realize that, it's strange you tested the A6 instead - probably handles like a boat compared to the rest of 'em.
And speaking of this class of car - the all new CTS looks like it's going to be some serious competition!
10-25-06, 03:59 PM
#112
Lexus Champion
The all new CTS-V isn't even confirmed when it will be out but rumor says 500hp LS7 at an absolute minimum.
10-26-06, 09:48 AM
#113
Pole Position
Join Date: Aug 2006
Location: Oregon
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I do a reverse car payment.
Bought the car for cash. Every few months I check the current trade-in value of my car, and then look up the purchase price of its likely replacement. The difference between those two values is the target value for my "car replacement account", a money market account I've set up to fund future car purchases. I make monthly payments to that account to keep value at or above the target.
Two cool things about doing this:
1. I can replace the car with no additional out-of-pocket costs, and pay cash, any time I like.
2. If I don't replace the car for a while, eventually the interest on the money in the account is enough to cover both the depreciation of my existing car, plus the inflation on the price of the new one, so I don't have to make any more payments.
I've been doing this since I paid off my first car, and it works out great for me.
Bought the car for cash. Every few months I check the current trade-in value of my car, and then look up the purchase price of its likely replacement. The difference between those two values is the target value for my "car replacement account", a money market account I've set up to fund future car purchases. I make monthly payments to that account to keep value at or above the target.
Two cool things about doing this:
1. I can replace the car with no additional out-of-pocket costs, and pay cash, any time I like.
2. If I don't replace the car for a while, eventually the interest on the money in the account is enough to cover both the depreciation of my existing car, plus the inflation on the price of the new one, so I don't have to make any more payments.
I've been doing this since I paid off my first car, and it works out great for me.
Awesome idea! I think I will use it. Here is an exact response for this thread.
Gross = $7500/mo
Net = $4200 (Damn Uncle Sam!)
Weekly = $1050
One week income = car + insurance + gas.
Loan $40500 @ 6.35% for 60/mo = $800/mo
Insurance = $650/6mo = $110/mo
Gas = $140/mo
2nd week = House pymt
3rd week = Spending $
4th week = 1/2 to savings and 1/2 to school loan
Good thing I don't have kids or my spending money would be $5 if that!
10-29-06, 06:57 PM
#114
Driver School Candidate
Awesome idea! I think I will use it. Here is an exact response for this thread.
Gross = $7500/mo
Net = $4200 (Damn Uncle Sam!)
Weekly = $1050
One week income = car + insurance + gas.
Loan $40500 @ 6.35% for 60/mo = $800/mo
Insurance = $650/6mo = $110/mo
Gas = $140/mo
2nd week = House pymt
3rd week = Spending $
4th week = 1/2 to savings and 1/2 to school loan
Good thing I don't have kids or my spending money would be $5 if that!
Gross = $7500/mo
Net = $4200 (Damn Uncle Sam!)
Weekly = $1050
One week income = car + insurance + gas.
Loan $40500 @ 6.35% for 60/mo = $800/mo
Insurance = $650/6mo = $110/mo
Gas = $140/mo
2nd week = House pymt
3rd week = Spending $
4th week = 1/2 to savings and 1/2 to school loan
Good thing I don't have kids or my spending money would be $5 if that!
10-29-06, 07:23 PM
#115
Lead Lap
Join Date: Apr 2006
Location: CA
Posts: 673
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Awesome idea! I think I will use it. Here is an exact response for this thread.
Gross = $7500/mo
Net = $4200 (Damn Uncle Sam!)
Weekly = $1050
One week income = car + insurance + gas.
Loan $40500 @ 6.35% for 60/mo = $800/mo
Insurance = $650/6mo = $110/mo
Gas = $140/mo
2nd week = House pymt
3rd week = Spending $
4th week = 1/2 to savings and 1/2 to school loan
Good thing I don't have kids or my spending money would be $5 if that!
Gross = $7500/mo
Net = $4200 (Damn Uncle Sam!)
Weekly = $1050
One week income = car + insurance + gas.
Loan $40500 @ 6.35% for 60/mo = $800/mo
Insurance = $650/6mo = $110/mo
Gas = $140/mo
2nd week = House pymt
3rd week = Spending $
4th week = 1/2 to savings and 1/2 to school loan
Good thing I don't have kids or my spending money would be $5 if that!
10-29-06, 11:54 PM
#116
Pole Position
Join Date: Aug 2006
Location: Oregon
Posts: 228
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Oregon has no sales tax, so most of the states revenue comes from income and property tax. I don't know what it compares to with the rest of the nation, but I know it's up there!
No sales tax = good for out of state shoppers!
My bro is a sales rep and chose to live on the other side of the river in Washington, result is about $8000 more in annual income b/c there is less income tax.
No sales tax = good for out of state shoppers!
My bro is a sales rep and chose to live on the other side of the river in Washington, result is about $8000 more in annual income b/c there is less income tax.
Last edited by lexuspdx; 10-30-06 at 03:05 PM.
11-08-06, 07:17 AM
#117
Guest
Posts: n/a
Here's a picture of my E55.
I like it, especially with the easy mod for another 30+hp just with the ECU upgrade (software wise). If I can to do it over again, I will go the 335i route simply because it's more fun to drive. Yes, the new CTS-V is a good contender in the performance cars but it is still a domestic car and resale value sucks!
I like it, especially with the easy mod for another 30+hp just with the ECU upgrade (software wise). If I can to do it over again, I will go the 335i route simply because it's more fun to drive. Yes, the new CTS-V is a good contender in the performance cars but it is still a domestic car and resale value sucks!
11-08-06, 07:38 AM
#118
Lexus Test Driver
Join Date: Aug 2006
Location: Washington D.C.
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28% of my monthly income goes to Lexus Financial + Insurance. 45k for a vehicle at 23 years old + fresh out of college. not bad...But then again I have over 4k of credit card debt, So at the end of the month I'm left with about 400 dollars to spend. Thank god I was able to get a good amount for my Mercedes E320. Anyway, I'll be out of debt soon and will be creating some more debt with performance parts. Hooray for captilism and our "unlimited wants" driven economy.
Last edited by NovaIS350; 11-08-06 at 07:49 AM.
