What percentage of your wage do put towards motoring?
- Thread starter wingman
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I don't keep track of any costs so to be honest i have no idea, i was more pointing out that people with a loan/finance/pcp agreement are not going to have comparable figures to those who do not making the figures a little skewed.
My entire insurance bill is <£1000, my employer covers all of our fuel and then some, and our cars never really go wrong. So i dont think we spend much as a percentage of household income. Certainly there is absolutely no way it could be more than 2%. But that's with cars owned outright and not factoring depreciation of course.
I dream of the day when someone else pays my fuel for me. Or when I live in walking distance to the office! Hows the RR working out?
<20% last tax year for me. But that included buying it, and various tools/accessories (e.g. dashcam/socket sets) as well as, bizarrely enough, two lots of VED!
Should be less this year despite running two cars.. but we shall see..
Should be less this year despite running two cars.. but we shall see..
Range Rover is fantastic thanks, the best "comfortable" car i have ever owned by a mile. Its far from sporty obviously, but it is a fantastic runaround for the GF and to go shopping in and generally mill about. I drive it as a preference over anything else usually if available. I dont think i would ever only have a RR, but i would also hope to not ever not have one, if that makes sense
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10% 'ish of gross.
Don't let that stop you; I can't drive either and contribute about 5% of my takehome salary towards my wife's ongoing motoring costs
The true figure including car purchase is much higher, very hard to even it out over the years though because my salary has changed, buying cars for different amounts etc. But as a guide over the past 6 and a bit years I've spent roughly 55% in total of my current annual takehome on car purchases.
Actually one could argue that if you are earning more money then spending a higher percentage on motoring may make sense because it may still leave you with more left over. Consider these examples:
Scenario 1: Earning £10k/year takehome, spending £2k/year on motoring = 20% leaving just £8k/year to pay for everything else in your life
Scenario 2: Earning £50k/year takehome, spending £15k/year on motoring = 30% leaving £35k/year to pay for everything else in your life
You're earning more money, the % should go down
No, we now run two cars, both of which are substantially more expensive to own and run than the one I was running at this time last year.
So even though we both earn more, we have more expensive motoring costs.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Unless purchasing the car is something you have to pay for each month/year, why would you?
If you pay say £x a month for the finance or whatever then obviously this gets included in the percentage - it's money you have to pay each month. But if you've purchased the car long ago then it's purchase is no longer relevant to cashflow. For example I bought my car 7 years ago, outright. Exactly where would I factor 'purchasing the car' if I was to calculate what I *spend* each month on my car now?
[TW]Fox;24517047 said:
Because no matter which way I'd have bought the car, I'd have been either saving up in the years previous, or spending as I go after purchase.
In theory for a car purchased within 12-24 months, this figure should be pretty similar either way unless you happened across a windfall of some type outside of your annual wage.