Car as a proportion of income

[AJS-]

What is your car worth as a proportion of your annual income?
For example, if you earn 40K and your car is worth 20, then it is 50%

I don't really know why this popped into my mind but it seems like an interesting question. What would be really interesting is to see how it varies across income brackets - ie whether or not people who earn a lot of money spend proportionately more or less on their cars and vice versa, so feel free with examples.

I don't currently have a car, my motorbike is worth about 3 days wages! It's nothing flash...

When I did have cars they tended to be around 15-20% then about 110% to keep the things in order!

[Smashed]

Including my insurance around 10% of my income. without insurance it'd be like 5% stupid young driver insurance =[

[...Mole...]

<24%, earn 20K a year, car cost around about £1700.

[boomboompow]

I'm assuming the search function isn't working? Someone asked the exact same question about 2 months ago; discussion got quite heated IIRC...

Edited by boomboompow on Thursday 5th August 13:12

[AJS-]

boomboompow said:

I'm assuming the search function isn't working? Someone asked the exact same question about 2 months ago; got quite heated IIRC...

Actually I assumed that too and didn't look. Oops

[Mattt]

I assume you mean just the car value, not the annual running costs (inc finance etc).

[GTIR]

Do you mean when you bought it or what it's worth now?

[AJS-]

I think what you paid for it as a proportion of income at the time would be the most interesting one. But it's quite an interesting discussion however you take it.

[GTIR]

In that case I'm at 100%.

[anonymous-user]

I'm a student.... so about 100 %

[nonuts]

When I bought my S3 (a long time ago) it would have been 75%+ of income, now it's not. Currently my M3 is far lower as a percentage but then again it was less than half the cost of the S3 when I bought it too!

[Chapppers]

Twas here, doesn't look that heated to me.

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

I'm in that special 100%+ bracket if I add up all my toys. Tee hee hee.

[BIST0]

Assume we are talking about 1 car? i.e. if you own 3 cars you don't add the value together?

[Cotty]

So if someone has their car in their profile, you can work out how much they earn.

[GTIR]

Cotty said:

So if someone has their car in their profile, you can work out how much they earn.

Yes, but they might be lying - about either car or wages - which I've heard does happen on the Internet.

[nonuts]

GTIR said:

Yes, but they might be lying - about either car or wages - which I've heard does happen on the Internet.

Or they might be talking about the past like I was.

PS. I'd not spend that much (75%+) again as a percentage unless things were very different.

[adycav]

Ah this old chestnut.

According to PH everyone owns a six figure sum, but strangely only buys cars for about £2k because "financing a depreciating asset" is for idiots, labour voters, homosexuals and paedophiles.

[sleep envy]

OP - just look on the 3rd page of GG, it saves people having to post the same bks every couple of days

[Diablos-666]

Salary ~ £35k

Car Value ~ £21k

Quiet a big chunk but all paid for so doesnt come out of my monthly income

[adycav]

Everyone who starts these threads said:

I'm really interested, it's an interesting social experiment etc.

But if they were being totally honest they would have said:

Can I really justify buying that brand new Audi A3 1.2 S-Line at 24.9% APR when I earn £18k a year?