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

[MrBarry123]

Matt UK said:

I'm not telling.

99.9% like me then?

[skahigh]

I've just worked out that when I get rid of my 9 year old merc soon it will probably have cost me around £7k all told over about 16 months of ownership. Ouch.

[Japveesix]

I wouldn't dream of spending more than 5% of my sal on some wheels. I'd rather invest in another pad or a start-up or two.

I'm lucky that 5% max still lets me pull the trigger on some pretty tasty metal (think fezzas, lambos and the like) but the priority should surely be the same for those paupers earning average wage etc?

[CS Garth]

This thread has got classic written all over it ...

[pinchmeimdreamin]

0% I find it much easier just to go and Nick a car when I get bored of the previous one.
And I squat in other peoples houses to save the hassle of paying bills.


Oh and I earn 7 figs. So I'm richer than you

[Wilmslowboy]

Purchase price more than net pay for the whole of last year (paid for through savings, cashed in investments etc)

Real annual cost to own (deprecation , maintenance, warranty etc) - sub c15% net pay


Fun & enjoyment - F'ing priceless



middle aged man, wife, two kids, great big greedy dog and a mortgage

[siovey]

I took a loan out over 2 years to pay for my latest car. Its costs a fair bit per month but easily affordable (currently!). The fuel per month costs more than the loan!!

[MrOrange]

Stormfly1985 said:

Money is completely pointless unless you spend it on something. I don't get people who have tens or hundreds of thousands of pounds in the bank and then never spend it. You really can't take it with you when you snuff it

I burn through a huge amount of money on cars and bikes. Isn't that why we're Pistonheads? I'm sure I could/should be wiser and max my ISA and double-pay the mortgage but frick it!

[Matt UK]

MrBarry123 said:

Matt UK said:

I'm not telling.

99.9% like me then?

Maybe more

[HoHoHo]

Japveesix said:

I wouldn't dream of spending more than 5% of my sal on some wheels. I'd rather invest in another pad or a start-up or two.

I'm lucky that 5% max still lets me pull the trigger on some pretty tasty metal (think fezzas, lambos and the like) but the priority should surely be the same for those paupers earning average wage etc?

hmmmmm,

Another pad, business or because you're lucky to pull the trigger on some more tasty metal.......

CS Garth said:

This thread has got classic written all over it ...

Spot on The bullstters are in the building

Edited by HoHoHo on Tuesday 3rd May 20:14

[kambites]

MrOrange said:

I burn through a huge amount of money on cars and bikes. Isn't that why we're Pistonheads?

I don't think we're on PH because we spend lots of money on cars as such; spending lots of money is an unfortunate side-effect of being a petrol-head rather than being the primary goal.

[stongle]

The op is not asking about running cost but proportion of net take home spent on NEW CARS. It's either a veiled dig at leasing or the OP let's his car define him (and a willy wave for his salary, not the shedders amongst us).

It's a bogus thread. Without further information on outgoings a % is a nonsense. I lease a car for the reasons stated, I live and work in London, so what's the point in anything flash anyway. I spend x3 my car lease on cycling each year, 2k on a set of carbon tubs I can justify. 2k on some P-zeros to smash into kerbs in waitrose car park I cannot.

One of my best mates lives in a fairly notorious council (or ex anyway) estate. He's got a 997, garage queen Escort Cossie and owns several properties. I think he should buy a house in a nice area, he thinks I should get a Maserati. Point is, totally different priorities.

[Eski1991]

Japveesix said:

I wouldn't dream of spending more than 5% of my sal on some wheels. I'd rather invest in another pad or a start-up or two.

I'm lucky that 5% max still lets me pull the trigger on some pretty tasty metal (think fezzas, lambos and the like) but the priority should surely be the same for those paupers earning average wage etc?

Had a good laugh at that and then went to your garage, even more impressive I must say.

And 5% of your salary only buys one pad? Need to move to a cheaper are of Hull where your budget stretches that bit further.

[gizlaroc]

Audemars said:

ChilliWhizz said:

OP, just out of curiosity, what do you drive at present?

Genuine question....

A car that has nearly doubled in value since purchase.

Audemars said:

......both my cars are such cars.

So, you would never spend more than 5% of your income on a car, but you buy cars that double in value?


Not quite as clever as you try and make out then?

If you had spent 50% off your income on cars that appreciate you would be much wealthier.






It is a stupid fking question anyway.

Most people need a car, most people spend more on fuel, insurance, servicing, parking, tyres and keeping it on the road than they do on 'buying' the car.
Many have worked out that buying a new car that does 50mpg might actually be cheaper than buying a 10 year old car that does 35mpg and costs a lot more to keep going.

So if they are 'having' to spend that sort of money each month I suppose they think might as well buy new.
For many they don't have a choice on what percentage of their income they spend on a car, it is an essential and it costs what it costs.

[vikingaero]

If people in the UK didn't buy new cars then where would all the secondhand cars come from for you to purchase at 10% of your net income?

This year my capital expense has been £450 for my shed Daihatsu, £1k insurance for 4 cars, servicing and tyres around £800, and £6k BIK for the company car.

[X5TUU]

I'll throw some honesty out there ... In spend roughly £1000 a month on the fleet (finance, insurance, tax, maintainence, storage etc...)

That equates to c20% of my own personal NET PAYE day job

[CS Garth]

This thread is purpose built for jay from the inbetweeners or corvette convert/ his alter ego twin turbos.

[anonymous-user]

You was looking at more than 10% Net in the other thread though ? 40k loan..

[CS Garth]

Jimboka said:

You was looking at more than 10% Net in the other thread though ? 40k loan..

Looking at the posting history our friend also claims to own 5 houses as well although not through buy to let.

5 houses, current car doubled in value yet asking how does HP work and how does he finance his car? Does not compute.

OP - presumably your man sausage is the size of baby's forearm and you once beat Chris Gofffey at an arm wrestle??

And for the avoidance of doubt: protocol here is to call us all jealous and leave coming back claiming your former self was a great guy who fixes elderly people's radios for free, feeds Africa etc .

[covmutley]

Company cars, 'cheap' leases, gifts, inheritance.... Lots of reasons why people may have cars that seem expensive.

also if average wage is circa 30 then there are lots of people earning more. I would say most cars I see are relatively less expensive, they just go unoticed.