Car to Salary Ratio's

BMW 530d would take me 5.3 months to pay off before tax... with tax 7.3
months :o

which would make it just under 50% of my salary
 
[DOD]Asprilla said:
Yeah, but it was an 850 so you always had two dogs, some bricks, a picnic blanket and various power tools in the back didn't you? ;)

Just worked out the running costs and I think it's about 1% a year or 1.5% including insurance.
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not far wrong but dont forget the kids! ;)
 
In my case, it's a meaningless figure that I couldn't easily calculate. Firstly, I have more than one car, and secondly, "salary" forms a small part of my income as I don't take that much in salary. The rest of my income is profit-based, so impossible to predict, and I don't draw any form of regular amount.

So the answer to the question is .... no idea.
 
I have no idea.

Not really sure what my car is worth atm, and my salary can fluctuate +/- 15% from year to year depending on whether I've been a good boy or not.
 
Value is about 30% of my annual salary for the car I just got.

I'm quite surprised how low most of the percentages are. Given everybody's love of motors on here I would have thought it would be higher. I suppose it all depends on how you like to finance your cars.

I generally keep a car for three years and so tend to get a three year loan for about 80% of the value of the car (the rest coming from the trade-in or otherwise of the previous motor) which works out roughly at my paying 10% of my salary every year towards the motor, which I'm fine with.
 
BigT said:
Value is about 30% of my annual salary for the car I just got.

I'm quite surprised how low most of the percentages are. Given everybody's love of motors on here I would have thought it would be higher. I suppose it all depends on how you like to finance your cars.

I generally keep a car for three years and so tend to get a three year loan for about 80% of the value of the car (the rest coming from the trade-in or otherwise of the previous motor) which works out roughly at my paying 10% of my salary every year towards the motor, which I'm fine with.
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also really depends on how much people can afford to spend, for instance someone whos spent 50% of 20k is gonna have a lot less for food ect then say for someone whos spent 50% of 90K
 
I would love to spend more on a car, but I'm probably spending more than I can actually justify already.

My wife and I drive the Volvo and still only manage about 6k miles a year between us so a 3yo £10k car is sufficient and probably more than our needs.

Saying that, after seeing the recent thread on here, I'm looking at getting a Z4 as well when the prices come down a little in the autumn...
 
paradigm said:
My car's value = 50% of my annual income. But only 25% of my annual income is paying for the car.
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Ditto, I went for the same approach! Worked out that I'd spend a little under half my annual salary on a car, and spread most of the cost over a two years.
 
To purchase the bike and the car is about 70% of my annual income.

Insurance for them both is 25% but getting lower all the time obviously.
 
lukechad said:
To purchase the bike and the car is about 70% of my annual income.

Insurance for them both is 25% but getting lower all the time obviously.
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So you have 5% with which to pay for food, fun, petrol, clothes, stuff, holidays etc etc etc?

:eek:
 
Need to be doing this as a percentage of earning after tax really. Gross income is a bit pointless as it's not the money you have to spend
 
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