Car you drive as a % of income - Page 3

minheim · 18-06-2015, 09:00 PM

On the face of it; he has a good paying entry level job so he is off to a good start compared to many others his age and he also has a car that he likes. Without knowing how much he borrowed or what his other financial circumstances are who can make any judgement and really why should they.

For all we know he could have received a lump sum off his parents as a gift; have saved hard; got an inheritance; has an otherwise low cost frugal lifestyle and/or maybe he is paying his parents off rather than a bank. He might also see the car as a long term keeper and something that won't be available new post 2017. He might also be an only child and can expect to inherit a house and more when older so he can live the dream now.

Falcman0o7 · 18-06-2015, 09:05 PM

Quote:

Originally Posted by malazn mafia

Don't get married or have kids is the most financially viable option in this day and age. Spend the money saved by avoiding these 2 activities, on things you love most..

IMO Anyone that avoids having a family for material things is going to be a very lonely old bugger with crap that will no longer bring them joy joy feelings.

CoupeKing · 18-06-2015, 09:07 PM

If he hasn't got any kids, doesn't drink/smoke/gamble/party/eat take-away..then those repayments would be a walk in the park.

Boza · 18-06-2015, 09:21 PM

HULK my car is a clapped out 2000 honda accord that is a had me down from my mum would I be driving this at 33 hell no if I made enough I'd get a f6.

Yes my car is a piece of crap the auto flares and slips into gear the struts are gone but I'm grateful to have it it's reliable it get's me from a too b yes, and yes the only reason I drive it is cause of my financial situation but I also beleive in not getting into too much debt will only borrow max 40& of a car's value so I'm not beyond my means.

LG17 · 18-06-2015, 09:23 PM

I must be a real idiot then.
I bought a $50 plus thousand dual cab for cash and I don't have any income!

HULK_I6T · 18-06-2015, 09:53 PM

I know two guys that drive a amg c63

One bought it brand new for $150k+ and its less than 50% of his income

The other guy is a fair bit younger, bought his c63 2nd hand with 80,000km, paid it $75k but its still more than 100% of his income. Pretender.

Brazen · 18-06-2015, 09:55 PM

The young guy who goes out and spends 90 grand on a future classic and keeps it till he's an old man is probably better off than the rest of the motoring public that spends 20-30 grand updating their Hyundai or Toyota every 7 or 8 years.

jpblue1000 · 18-06-2015, 10:12 PM

Quote:

Originally Posted by new2ford

Ours is worth 500% of our income but we expect the world to end in 3 weeks so it's not an issue.

Oh not again, last time it ended I missed the big party, Hope I'm not busy this time or looking the other way.

JP

**buggerlugs** · 18-06-2015, 10:13 PM

Quote:

Originally Posted by HULK_I6T

I know two guys that drive a amg c63

One bought it brand new for $150k+ and its less than 50% of his income

The other guy is a fair bit younger, bought his c63 2nd hand with 80,000km, paid it $75k but its still more than 100% of his income. Pretender.

Of course you do..............

jpblue1000 · 18-06-2015, 10:14 PM

Quote:

Originally Posted by HULK_I6T

I know two guys that drive a amg c63

One bought it brand new for $150k+ and its less than 50% of his income

The other guy is a fair bit younger, bought his c63 2nd hand with 80,000km, paid it $75k but its still more than 100% of his income. Pretender.

How is he a pretender? he has the car! he is not pretending, he has the car and not by renting one, so Id suggest riding in the passenger seat with an inflated sense of ego 'cause me mates got one' is pretending.

JP

LyleXR8 · 18-06-2015, 10:21 PM

Quote:

Originally Posted by HULK_I6T

Im not talking about car repayments...

Im talking about value of the car vs income..

HSV VF GTS is a $95k car.

If hes earning $60k at best...

Those numbers say hes trying to be bigger than he is.

My mortgages total $360,000
My household income is $210,000
Am I a pretender?, am I living beyond my means? Am I trying to be bigger than I am?

MAGPIE · 18-06-2015, 10:27 PM

Have you asked him why he didnt just get a 5 sec Camry ?

jpblue1000 · 18-06-2015, 10:29 PM

Hulky boy does have a sort of point...
An old adage drilled into me buy many a wiser old person, why are they always wiser? Hmmm???

Drive a car worth half your annual salary and live in a house worth three times your salary and you will be financially secure. I wonder how that stacks up today?

We are doing ok and are pretty much line ball with that philosophy? Admittedly their are 4 cars and no payments on them and we own the house so no more payments either, Im showing off again sorry? pretending to be wise.
Balls.

JP

**Professor Farnsworth** · 18-06-2015, 10:31 PM

Quote:

Originally Posted by HULK_I6T

I know two guys that drive a amg c63

One bought it brand new for $150k+ and its less than 50% of his income

The other guy is a fair bit younger, bought his c63 2nd hand with 80,000km, paid it $75k but its still more than 100% of his income. Pretender.

do i really need to put up a closure reason?