G37 Sedan
View Poll Results: What percentage of your income is your car pymt ?
Less than 5%
21
23.33%
5-10%
27
30.00%
10-20%
18
20.00%
More than 20%
4
4.44%
No Loan - Paid Cash
20
22.22%
Voters: 90. You may not vote on this poll

Car payment as a percentage of your income

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Old 05-24-2011 | 04:50 AM
  #16  
mikelr's Avatar
mikelr
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From: North East
About 10% of my salary at the time I purchased (three year loan) ...She's all mine for the past 6 months!! Nice not having a payment.
Old 05-24-2011 | 06:11 AM
  #17  
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roots4x
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From: San Jose, CA
Originally Posted by nbarone
less than half a percent of my annual income.
Assuming you meant a year's worth of payments...

If you pay 400/month, then you earn about $1,000,000/yr. Not bad, or you're bad at math and comprehension.
Old 05-24-2011 | 09:03 AM
  #18  
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jlcnuke
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From: Acworth, Ga
I financed $19.9k on my 2010 G37 about 3 weeks ago. So far I've paid $2400 on it. Originally the first payment was due 6/21, currently my next payment "due" is in December. I should have it paid off in a year or less unless all of my overtime dries up.

If I just paid the minimum each month it would be under 5% each month. Actual payments will probably be closer 15-20% though. I live well below my means.
Old 05-24-2011 | 11:15 AM
  #19  
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FastEddie50
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3.6% to lease my 09 G37x.

hey, I am 61 so that number better be low, ha-ha!
Old 05-24-2011 | 12:52 PM
  #20  
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Ten K
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From: eastern PA
7.5% @ $430/mo... but paying @1k/mo.
Old 05-24-2011 | 01:41 PM
  #21  
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NYCMaxima
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From: Staten Island, NY
Originally Posted by blnewt
19, live w/ your parents and have no kids~I'd say you're much smarter than someone that's 19 w/ 3 kids trying to rent somewhere and driving a jalopy
Lol thats watsup!!! Haha I know 3 kids would cost alot more than 322 dollars a month to take care of lmfao.
Old 05-24-2011 | 01:49 PM
  #22  
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NYCMaxima
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From: Staten Island, NY
Originally Posted by financeman
I am a pretty conservative financial guy....but I think you're doing the right thing at this time in your life. Plenty of time to do the investment thing in a few years. I purchased a brand new turbo charged 300ZX when I was 21...took a large chunk out of every check to make the payment. I don't regret that decision one bit....enjoyed it much! Nothing is better than driving a great car when you're young....of course I still like driving a great car when I'm not so young
Thank you! I can honestly say i havent ever once regretted dropping this much on a car! There really is nothing like driving a car like this when your such a young guy lol. Its not like I dont save, I have a very very good safety net in the bank right now, I honesty didnt even pull the trigger on my car till I had like 6 months worth of payments saved already. I wanna enjoy my youth as most would say, and I can honestly say I wouldnt be having as much fun if I was just driving something to get around in. I bet that TT 300zx was worth every penny, my cousin had one when he was 21, what an amazing car it was.
Old 05-24-2011 | 03:08 PM
  #23  
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chuckie311
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From: Las Vegas
13%........
Old 05-24-2011 | 06:10 PM
  #24  
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colburs
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No loan, paid cash. Had just sold a race car/tow vehicle/trailer and used the proceeds for a new daily driver. It was my self prescribed therapy program.

FWIW if I had to get a loan I would not go over 3.5%. Needless to say I would not be in a G37 without a huge downpayment and a term of 5yrs. I have lots of other priorities (kids, house, vacations, utilities, savings, etc)
Old 05-25-2011 | 01:06 PM
  #25  
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bitNine
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I enjoy vehicles. I've spent over $14k on vehicle crap this year so far (payments, insurance, maintenance, etc). I've spent about $5200 on my house, lol. But then, I have 4 vehicles and only one house.

G37 is about 10% of my income, purchased. It holds about $7500 in negative equity from my previous POS vehicle.
Old 05-25-2011 | 01:26 PM
  #26  
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Talking

Interesting statistics..

It looks like 45% of buyers have no to extremely low monthly payments in relation to their income - a very positve and financially sound statistic , especially considering the most common demographic of the G37 buyer - a male between 25-40.

Glad to see fellow G enthusiasts make financially and emotionally sound decisions...

Not to say that the other 65% made wrong choices, but entering the new economy, value for the dollar and maximizing savings seems to be the mantra....

On my first car , a bimmer, it costed me more than 50% of my annual income - a poor financial decision and very rewarding to me emotionally. I've learnt to be more fiscally conservative since then...
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