Possible Poll - What percentage of annual income was your car worth at time of purchase?

Entai · 6 Dec 2019 at 13:46

For my current car, it cost in the region of 18 months worth of my salary.
Paid in cash, well by debit card, but kind of same difference

Brand new 5.0 GT Mustang, @ £46k.

dl8860 · 6 Dec 2019 at 13:51

Previous car was ~9% of household salary, one car family so that counts right?

Now on PCH deal on a car that's worth ~30%. Numbers extremely rough as some of Wife's income is from self-employment.

Steedie · 6 Dec 2019 at 14:22

EDIT - Aye, agree with below. Bit willy wavey

NickXX · 6 Dec 2019 at 14:36

A lot of wad flaunting in this thread.

Psycho Sonny · 6 Dec 2019 at 14:52

This thread will never work. I know someone driving a flash car but he lives with parents. Then I know others driving flash cars who own their own home.

It's not rocket science to figure out those living at parents can afford to spend a lot more of their salary on cars. It's always funny when these people eventually move out. The car never gets replaced until it's dead and then with a banger.

Entai said:
For my current car, it cost in the region of 18 months worth of my salary.
Paid in cash, well by debit card, but kind of same difference

Brand new 5.0 GT Mustang, @ £46k.

I think that is pretty crazy. You earn £30K a year but spent £46K on a car? I mean it's a cracking car and your money but there has to be more to this story because no sane person would do this unless they had just inherited money, won money or their partner earns considerably more than they do and they are essentially paying for it. Unless your mortgage is paid off and you now have disposable to burn. It just doesn't seem viable unless like I said there is a lot more to this story we aren't being told.

AiiR · 6 Dec 2019 at 14:58

Agree, not sure what OP is looking to gain here. Everyone's situation is different, and the value placed upon cars too.

This just seems like a opportunity for some humble bragging.

Em3bbs · 6 Dec 2019 at 14:58

Steedie said:
EDIT - Aye, agree with below. Bit willy wavey

Haha you've made it even worse with the edit!

Steedie · 6 Dec 2019 at 15:14

Em3bbs said:
Haha you've made it even worse with the edit!

grudas · 6 Dec 2019 at 15:46

NickXX said:
A lot of wad flaunting in this thread.

I dont think so..

many earn above average but drive 1500 bangers as mentioned above.. not everyone wants a nice new car..

Entai · 6 Dec 2019 at 15:49

Psycho Sonny said:
This thread will never work. I know someone driving a flash car but he lives with parents. Then I know others driving flash cars who own their own home.

It's not rocket science to figure out those living at parents can afford to spend a lot more of their salary on cars. It's always funny when these people eventually move out. The car never gets replaced until it's dead and then with a banger.

I think that is pretty crazy. You earn £30K a year but spent £46K on a car? I mean it's a cracking car and your money but there has to be more to this story because no sane person would do this unless they had just inherited money, won money or their partner earns considerably more than they do and they are essentially paying for it. Unless your mortgage is paid off and you now have disposable to burn. It just doesn't seem viable unless like I said there is a lot more to this story we aren't being told.

Yes I inherited property and money from my parents, once the property was sold I treated myself to the car.

But the OP never asked any of those questions about where the money came from

Psycho Sonny · 6 Dec 2019 at 16:03

Entai said:
Yes I inherited property and money from my parents, once the property was sold I treated myself to the car.

But the OP never asked any of those questions about where the money came from

I thought as much. Lovely car. I was looking at importing one as they are stupidly cheap over the pond but the vat and duties they then add on makes it pointless. Also it will be the last of an era I imagine because they have started putting the eco boost engines in now and it's only a matter of time with the electric model being launched before the 5 litre disappears altogether.

Gibbo · 6 Dec 2019 at 16:20

Psycho Sonny said:
I thought as much. Lovely car. I was looking at importing one as they are stupidly cheap over the pond but the vat and duties they then add on makes it pointless. Also it will be the last of an era I imagine because they have started putting the eco boost engines in now and it's only a matter of time with the electric model being launched before the 5 litre disappears altogether.

You also have to remember UK base specification is higher than US, spec for spec, like for like they are actually cheaper in the UK and steering wheel on correct side. When I purchased mine the value for money scale was even bigger as I paid 35k for a fully optioned Mustang being one first deliveries, then the pound weakened more and Ford were losing money, hence price increases.

I keep eyeing up a Saleen again, but it would need garaging and the Ferrari is living in the garage during Winter (yes should have got a house with double garage) though I actually drove to work in it today considering its a toasty 12c today, I like to use it regular as being Italian its likely to throw a fit if not used.

ahar · 6 Dec 2019 at 16:22

grudas said:
many earn above average but drive 1500 bangers as mentioned above.. not everyone wants a nice new car..

Quite a few of the Partners at the firm I work at live in central London, so despite earning serious cash they tend to driven beaten up old golfs as they have few places to park a car and don't care about motors.

You should see the skiing holidays they go on though :eek:

NickXX · 6 Dec 2019 at 16:22

grudas said:
I dont think so..

many earn above average but drive 1500 bangers as mentioned above.. not everyone wants a nice new car..

I wasn’t talking about them though.

KiNgPiN83 · 6 Dec 2019 at 17:38

0.6% if my maths is correct.

Lopéz · 6 Dec 2019 at 18:37

Amp34 said:
Agreed.

I feel there’s a lot of self selection going on here.

I don't understand what you mean by self selection in this context.

I've got an alright salary and a fairly cheap car. Without doctoring the figures I can't express more than answering what the original post asked. I've never purchased a new car, it's unlikely I ever will. It just isn't my thing.

Lopéz · 6 Dec 2019 at 18:39

grudas said:
I dont think so..

many earn above average but drive 1500 bangers as mentioned above.. not everyone wants a nice new car..

Exactly, an FN2 Civic Type R is a cheap car to buy these days, and does everything I want it to. I'm not interested in spending more really.

Psycho Sonny · 6 Dec 2019 at 19:03

16% for me
60% for the wife

damn i really need to buy a new car but feel no need to do so as i want to go electric but it's not quite there for me yet to do so.

so averages out to

35.5%

we own the cars though as in both paid for in full in cash.

DarrenM343 · 6 Dec 2019 at 20:38

ahar said:
Quite a few of the Partners at the firm I work at live in central London, so despite earning serious cash they tend to driven beaten up old golfs as they have few places to park a car and don't care about motors.

You should see the skiing holidays they go on though

I wouldn't want a nice car in central London either. It'd be a bit stressful having an expensive new car there. I enjoy driving an old car around some would be embarrassed to drive. I'm definatley more forceful with idiots in the old banger, you know, such as when trying to merge and someone purposely tries to block you out so they don't lose a position. It becomes a "you let me in or you're going to have to drive into me" situation

.

Amp34 · 6 Dec 2019 at 21:02

Lopéz said:
I don't understand what you mean by self selection in this context.

I've got an alright salary and a fairly cheap car. Without doctoring the figures I can't express more than answering what the original post asked. I've never purchased a new car, it's unlikely I ever will. It just isn't my thing.

I mean people who are proud of their low car purchase price to to income ratio are more likely to post than people that are have spent heavily relative to income.

That means you get a lot more posts with low percentages than high percentages, even though statistically the overall average should converge around 50% for cars in general, and higher for just new cars.