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
#1
Car payment as a percentage of your income
Just out of curiosity, what percentage is your car payment in relation to your monthly income
ie? $500 pymt on $5000 pre tax income (60k/yr) = 10%
ie? $500 pymt on $5000 pre tax income (60k/yr) = 10%
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#13
Registered User
I make like 800 bucks in a good month, and I pay 322 a month so, Id say 40%, not very smart, i know, but Im 19, live with my parents and have no children, so I might as well drive a car that makes me happy.
#15
Registered User
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