What's your income to car price ratio?

I read that you should only spend about 25% of your annual income on a car purchase… It makes sense but it’s fucking boring. That means I should only buy a car worth under $8k…

I make 30.7k a year and I want to buy a $30k car (2011 Genesis Coupe 3.8 track). I’m a young guy with no kids, paying $700 rent and about $500 in other bills. I think I can afford another $500 a month for a car I really want. But I know that also means a higher insurance rate and maintenance fees. With my current income, it’s do-able but is it smart? Probably not, but you only live once!

Anyways what’s YOUR income and how much did you buy your automobile for?

buy a 100k car used for 30k.

i clear about 31k a year
and my car was 6500 bucks

Sure if having a car is more important to you than living comfortably. I wouldn’t do that if I were you.

25% of your income on a car?? Fuck that.

The exchange rate at the time of this post is 1.00 AUD -> 1.01 USD…I earn $40000USD, and my car will cost me only $5000 a year (2005 Mazda 6 Series 2 Classic), including loan, registration, insurance and saving for services.

if you have 10,000g’s of a down payment do it

The whole 8k car thing is only if you plan on paying for the whole car in a year. Annual is the key word here. A 30k car on a 3 year plan would be ~10k a year. Or a 4 year plan would be ~7500k. So it really depends on what payment plan you take and the car you get.

I wouldn’t spend more than 15% of my income paying for a car… and that includes the expenses associated with it, such as insurance, gas, and maintenance. Start putting away 15%-20% of your pay right now in savings for the car down payment while you think about it. I would recommend to do that only if you have saved up about 6 months of living expenses in your savings first though. If not, don’t even bother spending more money on a car. It’s nice to have a nice car but shouldn’t be a priority if you don’t own a home or anything yet. The car should come last IMO. My daily driver I got for $2600 and it runs great. I’ve wanted to buy a new 5 series for a few years but just couldn’t bring myself to do it. I put away a “car payment” in my savings every month that I thought about it and now I have enough to pay off the car I want in under a year… but I still haven’t committed to it. With a big purchase like a car, it’s best to take your time with it. This situation is definitely more a want than a need.

if you spend all your money on a car where will you drive yourself to? or will it just sit in your driveway looking nice


2 Cars
Honda Pilot - $40k
BMW 335D - $55k

Im planning to get myself a truck, not sure if i want to go used as i never bought used before.

Keys Rcaido’s Honda, and dropkicks the windows:arazz:

Hmm, what is 0 divided by 3500?

Is that your income or your wife’s income?

Married = Same income

Haha, whatever you tell yourself to sleep at night.

Hobo’s gonna hate!

So I decided that it is in my best interest to buy a cheapo beater until I can get a promotion. I think I want to spend 50% of my annual income on a car. So I guess I’ll have to wait till I make at least 60k to get that car. Maybe for the 2012 model… =[

I know some pretty reliable dealers with inexpensive cars that run well. Currently driving a 2002 Buick Century that cost me a whopping $2700. Runs just fine. It’s not much to look at, but I’m not really one of those types who has to have a “sporty” car, I just need something to get me from point A to point B, and this does it just fine. No car payments (paid it all in cash) is nice too.


So do you make 30k and drive a $300 car?