How much should a car cost in relation to income?

[PalmerWMD]

How much should a car cost in relation to income?

a quarter of a years salary?half a years salary?a years salary?

Or?

Vote in my poll!

Fred..What is a prudent cost for a car in proportion to income

[PROJECTRB240SX]

IT SHOULD COST WHATEVER YOU FEEL YOU CAN AFFORD.

[NeedCAforS13]

two years salary?;)

Sean

[SDRonEbay]

This is my own formula.

Income - (Expenses + 8.25% {or your local tax rate}) = Pure Income

If your carnote, represented by X, plus 10% of that carnote is greater than your Pure Income, you can't afford the car.

Figuring in your taxes and an extra 10% gives you a bumper. You never know when something is gonna happen.

[tinted]

How much should a car cost in relation to income?

a quarter of a years salary?half a years salary?a years salary?

Or?

Vote in my poll!

Fred..

I think your sorta misleading by setting up this poll. It should be something like how much should operating a car cost in relation to income. (registration + intial cost + maintenence + tickets + etc.)

[Rockenreno]

I think it really depends on your other expenses.

[JESTER]

My personal rule, is to never buy a car that cost more than i make in a year. So, I won't be getting an RX8 unless I get one heck of a raise.

[PalmerWMD]

I think your sorta misleading by setting up this poll. It should be something like how much should operating a car cost in relation to income. (registration + intial cost + maintenence + tickets + etc.)

I am not trying to come up with a monthly budget but I want to see what PPL's perception is at what price level they consider a car too expensive to purchase.

Fred..

[DAEDALUS]

Wow, I am one hell of a cheapa$$.

[Cold_Zero]

Most people probably look more at their MPA (Monthly Payment Amount) than the overall price of the car. I voted 1 year.

[MainEvent212]

i say about 5 year income...saying you're a CEO...of an international corporationi also think that anyone who is a good enough driver should drive a ferarri/porsche supercar/tuned skyline GT-R/etc...lol

[krazy skwerel]

1 year for me.

[ace135cc]

2-3 years.

[dareo]

It can cost whatever i can pay w/o going into any debt. I dont borrow money, i save money, then spend it.

[Bubba1]

Rockenreno is right. It all depends on your other expenses. Debt can be a good thing unless you can't manage it.

My theory is never to buy a pair of shoes that cost more than a car I've purchased. My first car cost $500. Air Jordan's are closing in on that.

[MainEvent212]

well considering i dont even have a job, i cant have a say in this...

i'd say though 50k is about the limit i'd ever spend unless i was really rich...then i'd buy w/e i wanted lol

i think the only car i'd really stretch for is a GT-R

[audtatious]

Fred, this one has too many variables to calculate. I think most people look at the amount of $$ they have left over after living expenses ( including everything from housing to money spent at convenient stores ). They take that amount and subtract a percentage. The left over is the highest amount possible for a car payment. The available car payment fund depicts the price of the automobile they can afford "within budget".

Two people with the exact incomes will have different car fund amounts. These amounts can be considerably different....

[SmithSR]

So many variables...for me I'd aim at the 12month mark.

It seems that most carmakers are able to offer a model with very good performance, refinement for about the $30-35K range. IMO, $30k is the entry point for performance brands. Also, the 30k mark is attainable by most financially stable people who earn a decent wage/salary.