When I bought my Cobra I paid 39 out the door. Put down 24k cash, Financed the rest and had i think 230 a month payments. Paid it off in a year anyways. Next nice car I get I’d like to do something similar hopefully. It’s just a car, not worth overextending yourself financially just to have a nice car, but lots of people still do it. :gotme:
13% net, but I’ve paid extra every month. I would be more like 9-10% if I paid the actual payment.
For the people who have sated a percentage of their car payments, mind saying how much of their monthly net they pay for other expenses too on average for things like rent/morgage?
car payment is 10% of monthly take home
Living expenses are about 16% on net
Student loan is 3%
total of about 30% going to debt/living…
my house payment 1189.85
car payment 189.93
home gas 487.58 (budget)
car gas 450 month
food 500 ish
electric 120.00 ish
car insurance 1300 year
home insurance 750 year
babysitting 450 month
income
both me and the wife make over 70k a year together
we rent out a room and get 1800 a year
we also have 2 kids :gotme:
does that help
Roughly 7% of our take home goes into car payments.
yea i think think the ave person can spend 15-20% and still pay for everything else
:lol: Some shit’s deferred right now because I’m in grad school, but at some point our student loan payments are going to close in on $800 bucks a month.
jeez that better be combined between you and the wife… that’s nuts.
bought the wife an 07 Kia this year, $22k, put $7k down.
other than that i have always bought cars outright and then dumped crazy loot into mods.
I have never spent a dollar of debt on a car or mods other than the wifes…as a rule I dont spend $5k unless i have $10k chillin.
tooooooo much
:word:
0%, I own the bitch.
I would recommend you never spend more than 30% of your net monthly take home.
My mortgage is ~14% my net take home every month, I’m also in a very inexpensive home in respect to my income. Considering my tenants pay approx 80% of my mortgage, my out of pocket is an extremely low %.
Unfortunately I spend about 90% of my cash on hand because I’m an impulse buying jerk, otherwise I’d have a nice savings account
Not trying to be an asshole, but I don’t believe your monthly payment. Financing 20K for 60 mos w/ a 354 payment is like 3% APR
HAHA. I feel like shit. I can wait to go back to school. my little 255 dollar car payment is almost 13 percent of my gross.
12.9%… but I sometimes pay 20-30% just to get ahead
My school loans own me right now
I’m gonna be an asshole - driving a 30k car (that you paid 30K for) when you make 40K is beyond me… but that’s just me.
it was only 18 financed i paid the taxes on my own
payment is 354.56 or something like that and my interest was ~5 or 6 im not sure