What % of NET monthly salary do you spend on your car

[Audemars]

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think you deserve to buy cars you shouldn't because you all "work hard". At the end of the day a lot of you will feel the force of your actions when you get old at which time you will no doubt be blaming the government.

Don't kid yourselves, most people in the country (especially youngsters) look forward to payday mid month because they are literally skint and dying for some cash to blow down the pub. The easy monthly cost with leasing will always look good to those that do not have financial sense.

When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

Edited by Audemars on Wednesday 4th May 17:33

[giblet]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised. When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Stop with the willy waving and go get help. No one gives a flying fk how much you earn. There are members on here driving all sorts of ridiculous high end metal who don't feel the need to shout about how much they earn. Stop being a thunder.

[kambites]

Probably time to stop feeding the troll about now.

[jamieduff1981]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think you deserve to buy cars you shouldn't because you all "work hard". At the end of the day a lot of you will feel the force of your actions when you get old at which time you will no doubt be blaming the government.

Don't kid yourselves, most people in the country (especially youngsters) look forward to payday mid month because they are literally skint and dying for some cash to blow down the pub. The easy monthly cost with leasing will always look good to those that do not have financial sense.

When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

Edited by Audemars on Wednesday 4th May 17:33

I think it's your personality that is causing the hostile responses.

You are trying to act superior, but it looks rather a lot like some wazzock who managed to get a PAYE staff job with a £105,000p.a. salary and having just scraped into the £900,000 wide "6 figure club" you think you've made it.

The very fact you use the word "salary" shows how small-time you really are. Bot that there is anything at all wrong with being someone's employee getting paid a salary, but logging in to an internet forum to tell everyone you have a "6 figs" salary then feeling qualified to impart you financial wisdom is laughable, and you're being treated as such by people whose income is less and much more than you alike.

[skahigh]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think you deserve to buy cars you shouldn't because you all "work hard". At the end of the day a lot of you will feel the force of your actions when you get old at which time you will no doubt be blaming the government.

Don't kid yourselves, most people in the country (especially youngsters) look forward to payday mid month because they are literally skint and dying for some cash to blow down the pub. The easy monthly cost with leasing will always look good to those that do not have financial sense.

When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

Edited by Audemars on Wednesday 4th May 17:33

Hmmmm

Audemars said:

Hi, I have never used car finance in my life but am considering using the hire purchase method for my next car. However, I cannot see any APR rates anywhere online. My question is whether HP APR rates are similar to person loan rates?

For example Tesco offer a personal loan rate of 3.4% but with a maximum loan of £25k. If I wanted a £40K car then I would simply take £15k out of my savings and get this person loan.

If I went the HP route for a £40K used car could I get a HP APR rate of 3.4% or better?

I have an excellent credit history and can put down any amount of deposit. Just seeing whether HP could provide the whole £40k at similar rates or is it the case that HP is always more expensive than a personal loan.

I would be looking for a 5 year term.

Edited by Audemars on Thursday 28th April 11:35

[mwstewart]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think you deserve to buy cars you shouldn't because you all "work hard". At the end of the day a lot of you will feel the force of your actions when you get old at which time you will no doubt be blaming the government.

Don't kid yourselves, most people in the country (especially youngsters) look forward to payday mid month because they are literally skint and dying for some cash to blow down the pub. The easy monthly cost with leasing will always look good to those that do not have financial sense.

When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

Edited by Audemars on Wednesday 4th May 17:33

You are condescending and rude. What type of response did you expect?

You get out of life what you put in. People are the same.

[pinchmeimdreamin]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think you deserve to buy cars you shouldn't because you all "work hard". At the end of the day a lot of you will feel the force of your actions when you get old at which time you will no doubt be blaming the government.

Don't kid yourselves, most people in the country (especially youngsters) look forward to payday mid month because they are literally skint and dying for some cash to blow down the pub. The easy monthly cost with leasing will always look good to those that do not have financial sense.

When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

Edited by Audemars on Wednesday 4th May 17:33

[TarpaTow]

I work in the finance arena and I want a car that provides the right image, so that people know they're dealing with someone of substance who knows the importance of creating the right image.

Driving a BMW lets people know how successful you are and that you can afford the very best.

It would be impossible at my age to be able to pay cash for a car, and sales people in the garages know that, so they do whatever they can to get the customer in the right car and I've always gone with their suggestions as to how to maximise what I can have from my monthly contributions.

How the car makes you feel is important and a BM makes you feel mega and you know neighbours and friends are mega impressed. So people pay as much as they can.

I'm not on 100k yet but when I am I would be able to afford any car I want, probably an Aston, which has a supermega image and might even be better than even a BM.

[RowntreesCabana]

Just sold my silly car and put a considerable amount of money back into my account whilst purchasing my latest car for cash, which equates to 18% of one years salary (Net) and will be also be using less than half the amount of fuel. I also plan on keeping it long term and running it until it falls apart.

Edited by RowntreesCabana on Wednesday 4th May 18:46

[p1stonhead]

TarpaTow said:

I work in the finance arena and I want a car that provides the right image, so that people know they're dealing with someone of substance who knows the importance of creating the right image.

Driving a BMW lets people know how successful you are and that you can afford the very best.

It would be impossible at my age to be able to pay cash for a car, and sales people in the garages know that, so they do whatever they can to get the customer in the right car and I've always gone with their suggestions as to how to maximise what I can have from my monthly contributions.

How the car makes you feel is important and a BM makes you feel mega and you know neighbours and friends are mega impressed. So people pay as much as they can.

I'm not on 100k yet but when I am I would be able to afford any car I want, probably an Aston, which has a supermega image and might even be better than even a BM.

Please tell me this isn't serious? Do I need a whoosh?

[skahigh]

p1stonhead said:

Please tell me this isn't serious? Do I need a whoosh?

Check his other recent posts, they're all like this.

[foxsasha]

p1stonhead said:

Please tell me this isn't serious? Do I need a whoosh?

Name: Oliver Sebastien Carruthers Rothschild

[shake n bake]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think I'm an obnoxious blah blah blah....

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

Edited by Audemars on Wednesday 4th May 17:33

I predicted an o.p flounce yesterday, can I take this as a win?

[ruhall]

Audemars said:

I am simply amazed at the number of new cars bought in this country vs the average salary.

Just wanted to see how much people spend on their car purchase as a % of their NET monthly salary.

I personally could not justify anything greater than 10% of my net monthly salary and given I earn 6 figs doesn't buy me much (especially as I would never lease but only consider HP if I did go the finance route).

Don't you folks feel it is wrong to spend so much on a car?

Don't you parents of these young kids who buy new cars on finance give them a good kick in when they even contemplate such practices?

I'm not really surprised that you haven't had the answers you were after.

Are you suggesting that people don't spend more than 10% of their net monthly income on a car? Using the £5k net per month example, that equates to £500 on a car. Or do you mean £500 per month on finance? That presumes people 'finance' cars.


A '6 fig' salary spans quite a range, up to £999,999 pa, which many people might consider a reasonable salary (plus bonus/divi etc) with which to buy a car. To be honest, many with that income derived from salary, as opposed to, say, a pension, are probably driven, or fly, so may or may not wish to have their own car.

I note that Bugatti state that their customers have, on average, 63 other cars. I wonder whether they spend more than 10% of their 'salary', or fund by other means

[MDMA .]

TarpaTow said:

I work in the finance arena and I want a car that provides the right image, so that people know they're dealing with someone of substance who knows the importance of creating the right image.

Driving a BMW lets people know how successful you are and that you can afford the very best.

It would be impossible at my age to be able to pay cash for a car, and sales people in the garages know that, so they do whatever they can to get the customer in the right car and I've always gone with their suggestions as to how to maximise what I can have from my monthly contributions.

So you work in the finance arena but cant afford to buy a 2 series BMW ? You behind the counter at cash converters ? Or do you fill the tills at your local Tesco ?

Edited by MDMA . on Wednesday 4th May 20:31

[gizlaroc]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think you deserve to buy cars you shouldn't because you all "work hard". At the end of the day a lot of you will feel the force of your actions when you get old at which time you will no doubt be blaming the government.

Don't kid yourselves, most people in the country (especially youngsters) look forward to payday mid month because they are literally skint and dying for some cash to blow down the pub. The easy monthly cost with leasing will always look good to those that do not have financial sense.

When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

i'm not autistic, I'm just a !!

[daemon]

lostkiwi said:

People are trying to turn this discussion into a justification for them having leases.

Who is? I'm not. Never have had a lease. Bought our last 5 cars cash, and we have one on HP.

lostkiwi said:

I personally don't give a monkeys if people do or don't have them - their money, their choice. We have 4 cars. Three owned outright and 1 on a PCP.
My original premise was that leases are not good for the economy following a comment made by someone earlier (can't be bothered to look back and see who). I still stand by that. Leasing and by implication personal debt are not good for the economy. Plenty of evidence online for it if people bother to look.

However you have a car on PCP - effectively personal leasing - and at any given time your personal debt / commitment would most likely be greater than someone who is leasing a car?

Or is this a case of "do as i say not do as i do"?

lostkiwi said:

The scenarios I listed out were simplistic I grant you but the premise they were made on is still valid. How many people have the funds to survive a recession? To suggest that you can just get another job in 3 months if you have skills is mind numbingly naive. In a recession the unemployment rate rises so people find it much harder to get a new job once made redundant from a previous one.

No, your scenarios werent simplistic they were extreme outcomes to try to prove your point. Only a very small percentage of people who lease or PCP might have problems IF they were made redundant.

And another job in three months is not mind numbingly naive. I'd personally do anything if i needed to find work and i would say most people are the same. Certainly if someone is foolish enough to turn down or not progress jobs that might result say, in a lesser short term pay then they might struggle.

Personally, i try to treat setbacks as opportunities. I've also started at the bottom again a couple of times in various industries and worked my way up.

lostkiwi said:

If you are unlucky enough to live in an area of low employment (parts of the North East, North West or South Wales for example) it just adds even more to the difficulty in finding more employment.

Then MOVE or commute or change career path or accept a lower salary. There is no god given right to a good job just down the road. I've commuted weekly to London from Belfast before and i'd have no issues doing it again. In fact i've in for a job in Surrey at the minute.

lostkiwi said:

This is especially true when a large employer such as Tata shuts large sites down releasing thousands onto the job market in a small area.
I would be interested to see how many people with leases or PCPs have sufficient funds available to pay their leases and mortgages for prolonged periods.

So YOU could afford to stay afloat, but noone else can?? Right....

If you havent got the personal funds set aside to cover eventualities, then there are plenty of redundancy insurance policies out there for a nominal amount. It was one of the big banks i worked for and at the first sniff of them pulling out of NI we took out redundancy insurance through the banks insurance division and got a staff discount for doing it! They happily paid out when they made us redundant too

If someone is in a family whereby they are the sole breadwinner then it would make a lot of sense to pay insurance should the worst happen.

lostkiwi said:

This is especially true if an employer (such as one I worked for) opted to pay the minimum legal amount. For those who don't know what that is its capped at £464 per week, 20 years service maximum and a maximum of 1.5 weeks per year of service. So if you had been with a company for 25 years and were on £50k a year your payment could be as little as £13,900. If you'd only been there 5 years and were under 41 years old its only 1 week per year @ £464 per week.
I can see some folks (especially those with young families) struggling to make payments after a very short time.

Edited by lostkiwi on Wednesday 4th May 17:09

And all because they'd a £150 car lease eh?

[gizlaroc]

Far better to have £200 a month going out than £20k sat in metal on the drive if I lose my job.

[gizlaroc]

If you just buy £1000 cars I get the argument, but to try and say you are better to buy a £20, 30, 40, 50k car with cash in case you lose your job, well......you just sound a bit silly.

[daemon]

Audemars said:

The replies in this thread are comical and typical that I really shouldn't be surprised.

I bet you guys all think you deserve to buy cars you shouldn't because you all "work hard". At the end of the day a lot of you will feel the force of your actions when you get old at which time you will no doubt be blaming the government.

Don't kid yourselves, most people in the country (especially youngsters) look forward to payday mid month because they are literally skint and dying for some cash to blow down the pub. The easy monthly cost with leasing will always look good to those that do not have financial sense.

When I was on a £100k ish salary many many years ago, I felt always poor. I never felt I should buy a car over £20k new or used. Don't know how you folks do it.

Despite 200 replies there is still no useful information to construct a normal distribution for P-headers. Ah well, I will take it as a learning experience.

Edited by Audemars on Wednesday 4th May 17:33

I think you've made an awful lot of assumptions of "you people on pistonheads", and a lot of people have responded already, had you taken the time to notice.

To add my tuppenceworth to your statistics, we've one car on HP and one bought with cash. The HP payment makes up 5.8% of our joint net take home pay.

The other car is only whatever small amount of maintenance it might need.

Of the two cars, their total value would be around £24,000-£25,000 between them, of which there is around £10,000 of equity (ie, theres £15K owing on the financed car, and its worth maybe £20K, and the other car is worth £4K ish)

And just relative to the "youngsters" - my son bought his BMW 120d M Sport for £9,000 cash (which he'd built up through purchases of other cars / working part time) when he was 19, insured in his own name. Now at 22 he still has it, though has since rented his own apartment close to where he works. His outgoings per month would be his rent, electric, heating and mobile phone and thats about it really.

HTH