What percentage of your wage do put towards motoring?

[TW]Fox;24518350 said:
What about those of us who have purchased cars so long ago we've depreciated them to zero on our personal balance sheet and consider there to be zero meaningful capital tied up in them :p
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In that case, take the full purchase cost, then divide by the months of ownership and apply it to the %. Every extra month of ownership can be recalculated to suit if so desired.

Edit; beaten by rodenal, again.
 
One would assume that if the car was only owned a couple of months then it wouldn't have depreciated to £0.00 within that time and therefore the asset would hold equity. Said equity should be taken into consideration.
 
[TW]Fox;24520087 said:
I agree but it was so long ago that it is no longer a part of of any percentage of my earnings, is it? Therefore none of the money I earn now or have earnt for a very long time has gone towards the purchase of this car.
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In accounting terms you depreciate the asset over it's useful economic life until it is sold/scrapped.

Your 530i, for example, is still useful and it is economical viable to keep it running. Therefore the purchase price is still spread out over the term of it's useful economic life, and therefore can still be pulled into a % of your income. Exactly the same principle can be applied with all aspects of the upkeep, e.g. tyres, you don't pay for them for every mm of tread they wear, but the purchase was (probably) made in one go. This is the amount that you are spreading, and that is the amount that you are calculating into your monthly % of income cost.

Yes, the figures will change month on month.
 
12% of your wage on a weekend car doesn't make too much sense unless you're a millionaire buying a 458 Italia.

As this is a 335i I'm assuming it isn't the case! :)
 
So finance, fuel, VED, servicing, tyres and insurance are bringing me back to 30% of my take home salary now.

Can't believe I was spending 50% of my salary back then on a car... especially considering how much I didn't earn.

Necro bump, how has yours changed folks?
 
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