Car V House price ratio?
Discussion
With the 2 biggest purchases in an average persons life being a house and a car. What do you guys think an acceptable percentage of house value to spend on a car? i.e. If house value is £200k is 10% (£20k) a reasonable figure to spend on a car?
At what point does it become out of proportion? I'm at about 15%!
At what point does it become out of proportion? I'm at about 15%!
Dr Jekyll said:
An interesting benchmark suggested to me once was to ensure that the monthly depreciation is less than your monthly pension contributions.
Maintains your net worth. Makes sense, although I do think you need a new circle of friends, maybe some with a broader veiw on life
I have a few like them.
markbs said:
Mine is 0.0025%
Mainly because I put everything I could find into buying and doing up our home. Based on this, I'm pretty sure if I hadn't bought an MK1 MX5 I'd need to hand in my pistonheads card.
Yes, thats pretty low! Mine was 0.0005% up until the point when I gave away my snotter and sold my house, now a more respectible 18%!Mainly because I put everything I could find into buying and doing up our home. Based on this, I'm pretty sure if I hadn't bought an MK1 MX5 I'd need to hand in my pistonheads card.
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