What proportion of your salary would you spend on a car?

just bought my new car (not a brand new car) 2 weeks ago...

it cost me 65% of my annual salary (on a placement year atm) - but im a student also, so probably not a great idea... but i use it to do 100-150miles nearly every weekend so i wanted something nice to drive and my 10 year old golf was getting abit long in the tooth.

back at uni next year then finally out into the working world... and can put some cash in the bank :p
 
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merlin said:
That makes little sense tbh.
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makes perfect sense tbh, the more you earn the more disposable income you tend to get. For example, my living costs havn't changed, but my wages have doubled....meaning my disposable income has approximately quadrupled

ie: net income 1k per month, outgoings (rent etc etc) £900....10% left to spend on a car

net income 2k per month, outgoings stay at £900, you now have 55% left to spend on a car
 
Not sure what the percentage is, but the most i've ever spent on a car was about £1000 I think, at the time it was probably only earning about £9000 a year. My last car was about £600 once i'd finished doing it up. I'm not bothered about having a late or expensive motor as long as it looks decent and is roadworthy. :D
 
merlin said:
That makes little sense tbh.
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It's because I'm earning so little (part time at the moment). I'd like to spend more, but need 80% of my salary to keep me alive, bills, food etc, and a bit of social/sport.

If I was earning 3 times as much, I'd only need 1/3 of my salary for bills etc, and could afford to spend 50% on a car.

Comprende?
 
Cobra said:
Freefaller, I didn't see you around for ages, no I see you everywhere. Very OT, but I keep meaning to ask - where do you jump? In France? Or do you use a DZ over here? I'm at Peterlee, Nethers, and RAPA. If it's any of those, send me an e-mail!

Sorry for the OT. Everyone else, ignore this post please.
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I'm very much back :D

I'll drop you a mail later rather than take this thread OT. :)
 
I spent 20% of my net income on buying my car earlier this year which should last me two or three years. My next car will cost the equivalent of about 90% of my net income.
 
I have a rule in life with cars, never ever spend any more than 4k of my own money on a car, as that kind of money can buy you all sorts interesting vehicles.If i was earning say 60k a year even then id have the same rule,mind at that level id be expecting a decent company car anyway.

I love my cars but i wouldnt cripple myself to buy a car which is at the end of the day a tool to get me from a-b.
 
Current car cost approx 40% of my salary, some people spend more, some less all depends on your priorities and desires really! Mine is basically my toy, to some people it's a waste, but these are the sorts of people who will spend ludicrous amounts on nights out which I feel is a waste.
 
My first car costed between 15% and 25% of my annual salary - on buying it, insuring it and keeping it going. That was a 1980 Triumph Spitfire 1500, at 21 years old, more modern cars would probably be cheaper to keep going.

I wouldn't personally spend more than 25% of my salary on a car - buying it (no finance), insuring it and keeping it going.

My current car, a 1996 Ford Escort is going to cost less than 10% of my annual salary to insure, and probably another 10% (at most) on petrol, 5% on keeping it going. But I'm lucky in that my parents gave me that for free after I wrote off the Spitfire as they were looking to get another. They have a 206 now.

I can't justify buying new, or on finance (because both avenues are sooo expensive) I prefer to buy things after the main depreciation hit, and in full, so they must be at least 3-4 years old. Perhaps my decisions will change when I earn more money.

Until the Escort costs too much to repair, I'm going to drive it and then get it scrapped when it reaches that point, getting something else that fits my criteria (25% on insurance, buying, petrol and running costs).

David
 
Dunno 50%, probably about 5 or 6% at the moment for fuel insurance etc. Depends how big the grin factor was :D
 
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