View Poll Results: Car payment as a % of after tax income
<5%
22
22.68%
6-10%
37
38.14%
11-15%
20
20.62%
16-20%
6
6.19%
21-25%
5
5.15%
>25%
7
7.22%
Voters: 97. You may not vote on this poll
Car Payment as a percent of after tax monthly income
Thread Starter
Audiworld Junior Member
Joined: May 2010
Posts: 45
Likes: 0
From: MA
Car Payment as a percent of after tax monthly income
The "what do you do for a living?" thread got me wondering. What percent of your take home pay each month is your S4 payment? I've added an anonymous poll so no ones actual income is revealed in any way.
AudiWorld Member
Joined: Apr 2010
Posts: 206
Likes: 0
Just out of curiosity, do you own an S4 or are you just on here to see whether or not you can really afford one based on what people do and how much they are willing to spend on their take-home salary on a car. My general rule of thumb is that if you have to ask, then you shouldn't be considering that purchase. If buying a car impacts your lifestyle, then you should think about what's more important in life. Hanging out with friends and having a nice fancy dinner or eating in and driving a brand new fancy car. I think it's common sense and everyone's situation is different. You can be single making 80k/year with roomates and no debt or 150k+ with a mortgage and kids. Seeing what people do and how much they spend/month doesn't tell you anything.
As for me, cash purchase - so no payments. A car as expensive as ours that depreciates so quickly, there's no point on paying interest on top of a depreciating asset.
As for me, cash purchase - so no payments. A car as expensive as ours that depreciates so quickly, there's no point on paying interest on top of a depreciating asset.
Thread Starter
Audiworld Junior Member
Joined: May 2010
Posts: 45
Likes: 0
From: MA
Just out of curiosity, do you own an S4 or are you just on here to see whether or not you can really afford one based on what people do and how much they are willing to spend on their take-home salary on a car. My general rule of thumb is that if you have to ask, then you shouldn't be considering that purchase. If buying a car impacts your lifestyle, then you should think about what's more important in life. Hanging out with friends and having a nice fancy dinner or eating in and driving a brand new fancy car. I think it's common sense and everyone's situation is different. You can be single making 80k/year with roomates and no debt or 150k+ with a mortgage and kids. Seeing what people do and how much they spend/month doesn't tell you anything.
As for me, cash purchase - so no payments. A car as expensive as ours that depreciates so quickly, there's no point on paying interest on top of a depreciating asset.
As for me, cash purchase - so no payments. A car as expensive as ours that depreciates so quickly, there's no point on paying interest on top of a depreciating asset.
I know I'm new here so hope this didn't come off the wrong way. I've been reading lots here the past few weeks doing research as I look to get my next car.
Cheers
AudiWorld Member
Joined: Mar 2000
Posts: 307
Likes: 0
From: Philadelphia, PA
Thread Starter
Audiworld Junior Member
Joined: May 2010
Posts: 45
Likes: 0
From: MA
I don't think I'd feel comfortable with much over 10% personally but that's just a personal preference. 25% does seem high though, in fact I almost didn't add it to the poll.
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Jeepers, whether joint or single, this is a pretty elite group with over half paying 10% or less of their *net* income for their car payment! This early group of 34 is probably *not* representative of the whole, but still.... 