what percent of your gross salary is appropriate to spend on a vehicle? i personally adhere to the 10% rule.

what percent of your gross salary is appropriate to spend on a vehicle? i personally adhere to the 10% rule.
>$120k salary
>$12k car

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  1. 1 month ago
    Anonymous

    yeah 10 is a good figure
    maybe 20 if you're a car enthusiast, it doubles as your hobby not just a means of transportation

  2. 1 month ago
    Anonymous

    Whatever you can afford and want. There is no golden rule. Spend half your salary, or 1%, it doesn't matter. Better to spend more money and be happy than spend less money and be unsatisfied.

    • 1 month ago
      Anonymous

      given the disgustingly low intelligence of the average "person," i think brightline recommendations are a good idea and worthy of discussion.

  3. 1 month ago
    Anonymous

    >rule
    My ass

  4. 1 month ago
    Anonymous

    ok but 10 percent only got me a high mileage or rusted out or rebuilt title in 2022, 20 percent got me clean title, 90,900 miles, low rust. you realistically only have one choice since if you pay for low quality shit you're going to have to buy again sooner

  5. 1 month ago
    Anonymous

    >30k salary
    So a bike

    • 1 month ago
      Anonymous

      3k is enough for a daily and a project

      • 1 month ago
        Anonymous

        Not in my shithole's inflated market. Anything below 5k is full of trouble

        • 1 month ago
          Anonymous

          bullshit
          your standards are too high

        • 1 month ago
          Anonymous

          im selling a car for $4k and it runs pretty well

      • 1 month ago
        Anonymous

        >project
        Oh, so when you say 3k, you kean a never ending money pit.
        Plus gas, insurance and tip.

      • 1 month ago
        Anonymous

        What makes you think you have garage space to work on a project car on a measly 30k a year

      • 1 month ago
        Anonymous

        >3k is enough for a daily and a project
        You do not want your daily to be a project car.

        https://i.imgur.com/l8Tjid5.png

        Are you trying to tell me chally wally anon makes over $170k?

        >Are you trying to tell me chally wally anon makes over $170k?
        He will either get it repo'd or pay $170k with the APR he has.

  6. 1 month ago
    Anonymous

    >Need to have the liquid money on hand to pay for it in full, even if you don't plan to for some reason.
    >The purchase will not compromise your emergency fund.
    If everyone followed that, I think at least half of financial issues related to cars would disappear.

  7. 1 month ago
    Anonymous

    >10%
    If you make the median salary, sure. Doesn't apply to poorgays and richgays alike.

  8. 1 month ago
    Anonymous

    >what percent of your gross salary is appropriate to spend on a vehicle?
    50%
    Don't be a spineless homosexual. Live life. There's no fun in retirement and being old.

    • 1 month ago
      Anonymous

      >Just be poor AND old instead bro!!!
      Dum

  9. 1 month ago
    Anonymous

    I think the 10% rule means you should spend up to 10% of your annual income on annual car payments, not total value of car. But your way is probably far more prudent.

    • 1 month ago
      Anonymous

      >your way is probably far more prudent.
      It's not, because it limits him to worn out shitboxes that will need far more than that in maintenance, repair, and downtime in the shop. It is, in other words, exactly the sort of smooth-brained analysis that keeps him poor and resentful.

      • 1 month ago
        Anonymous

        A $12k car isn't a shitbox though. You can get a decent mid-sized sedan with 100k - 120k miles for that. You'll pay more for maintenance but the difference is more than made up for by not paying $40k for a car + tax + higher insurance.

        • 1 month ago
          Anonymous

          The 10% rule is good basic financial advice, a higher level is looking at the total cost over how long you want to own the car and factoring a (REALISTIC) resale/trade in value.

          My piece of shit is 20% of my yearly post tax, but,
          I bought a used vehicle that can easily last another ten years when driven well.
          It requires ~$2000 in gas a year, $2400/yr for full coverage insurance (will drop to $800 next year when paid off), a few hundred in fluids, and approx $1500 in tires and other general maint. every 5 years.

          Total 10 year ownership cost will be approx. $47,500 which is very close to 10% of my post tax income, and that isnt factoring "raises" i.e. inflation.
          If I do intend to drive the thing into the dirt its resale value will be probably less than $2000, but I dont really care about that. I will be able to save the money spent on payments in 14 months, and doing so for 8 years is enough $$$$.

          You can get something well maintained for way cheaper than that if you're willing to get something with faded paint and minor plastic body damage. My car is exactly that, single owner decently taken care of, everything works, it just has sun faded clear and bumper damage.
          I don't care because I got a $8,000 car for $5,500

          • 1 month ago
            Anonymous

            >$2400
            Ah yes there's 24 months in a year

            No my insurance is $1250 a year and would be as low as $450 on minimums.
            So that shifts my ten year TCO below 10%

          • 1 month ago
            Anonymous

            >I don't care because I got a $8,000 car for $5,500
            I would be thrilled to get a $8000 car for $8000 in this market.

          • 1 month ago
            Anonymous

            ha well back in sane world this car wouldnt have sold for any more than $4500 and I would have paid 3 grand for it, but hey a hamburger meal isn't 25 cents anymore and that trend wont stop

          • 1 month ago
            Anonymous

            No, you got a $5,500 car for $5,500 and some midwit delusions.

  10. 1 month ago
    Anonymous

    Are you trying to tell me chally wally anon makes over $170k?

  11. 1 month ago
    Anonymous

    Back in 2018 I financed a $20k car even though I was only clearing $35k/yr after taxes. Yet I was still to able to afford a decent apartment in a white neighborhood, put at least $500 a month into savings and regularly frick my friend's wife. I also paid the car off in 2 years.

  12. 1 month ago
    Anonymous

    >$120k salary
    >$12k car
    >10% of 1yr salary
    So you buy a car every year? Wouldn't it be smarter to buy a slightly more expensive car, say a new car with a warranty, and keep it longer?
    >$120k salary * 10 years = 1.2m
    >$32k car
    >2.6% of 10yr salary
    Even better, your salary will likely be increasing over that 10yr period, so the actual annual amortized cost will be significantly less.

    • 1 month ago
      Anonymous

      >putting actual thought into big financial decisions

    • 1 month ago
      Anonymous

      >DA brokies
      >having a salary
      Your logic is sound but please keep in mind you're on a board where almost everyone is poor as shit, works for an hourly wage, and lives with their parents

      • 1 month ago
        Anonymous

        >31 miles to empty
        broke behavior

        • 1 month ago
          Anonymous

          t. lives with parents

          >ford mustang
          >rolex
          >white sweatpants
          prole tell

          t. drives a shitbox

          • 1 month ago
            Anonymous

            ask me how i know considerably all of your net worth is tied up in that photo.

          • 1 month ago
            Anonymous

            >sees someone who isn't poor like them
            >has a melty

      • 1 month ago
        Anonymous

        >ford mustang
        >rolex
        >white sweatpants
        prole tell

      • 1 month ago
        Anonymous

        But everyone here says they make at least $200k.

        • 1 month ago
          Anonymous

          Household, ya, individual is only 130k gross but I only work about 8 hrs a week

          • 1 month ago
            Anonymous

            >"The LARPer is immunized against all dangers: One may call him a liar, parasite, swindler, troony, it all runs off him like water off a raincoat. But tell him to Post Key Fob and you will be astonished at how he recoils, how injured he is, how he suddenly shrinks back: "I’ve been found out"

          • 1 month ago
            Anonymous

            Is true though. Can post fobs if you want, nothing particularly interesting there though, just generic ford/mopar/chevy fobs

          • 1 month ago
            Anonymous

            >just generic poorgay keys
            What a shocker

          • 1 month ago
            Anonymous

            Is it so shocking that someone in my pay bracket is only interested in cheap project cars?

          • 1 month ago
            Anonymous

            No, it's not shocking at all that a brokie drives brokie cars

      • 1 month ago
        Anonymous

        DHGate Rolexes look better than that $20 shitter you have

  13. 1 month ago
    Anonymous

    i'm presently unemployed but the last car i bought cost 1200€

  14. 1 month ago
    Anonymous

    10% and how long do you keep the car? If you spend 10% on a payment you're spending more than I did on my favorite of my cars, which cost 50% of my salary, in cash, but I've had it for 6 years.

  15. 1 month ago
    Anonymous

    >How long is a piece of string
    It depends on what sort of expenses you have.
    A person making $1M a year can easily buy a $500k car, 50% of his income
    A person making $50k a year should NEVER consider buying a $25k car.
    You can spend a greater portion of income the more you make.

    • 1 month ago
      Anonymous

      https://i.imgur.com/WwsoCA5.jpg

      what percent of your gross salary is appropriate to spend on a vehicle? i personally adhere to the 10% rule.
      >$120k salary
      >$12k car

      Also 10% sounds pretty low for $120k. I don't make $120k but I say you could comfortably afford a $40k car with no other expenses.

      • 1 month ago
        Anonymous

        People here act like it is 10% for the car one time and everyone should drive a shitbox, but it is really 10% of your annual budget every year you should be setting aside for transportation costs.
        A person with a 120k a year job can easily afford a $60k car every 5 years. If you are an enthusiast and you put 20% of your income towards car expenses every year you can easily afford a car equal to your annual income every 5 years.

        • 1 month ago
          Anonymous

          Friend, it's 10% for the year of using a vehicle which insurance and gas adds considerably to.
          Figure $4000 minimum for the coverage required by financer and gas use, plus car payments and a running average for maintenance.
          120k/yr would translate to 12k/yr owning+operating costs, not a 60k vehicle paid in 5 years.

          I'll tell you this the owner of my small company DDs an $80k suv, the 2nd founder vp a 60k lexus, the ops VP a 45k lexus, ops manager/director a 20k kia and I know he males in the 120k range.
          And the owner is a de facto multi millionaire with the sales vp/2nd founder in the million net worth with a paid off house.
          Thats being smart with money, not sticking 20% everywhere just because.

          • 1 month ago
            Anonymous

            People who make decent money but aren't enthusiasts, aren't going to spend that much money on their daily use cars, but they probably have other hobbies that are very well funded.
            Even if you are an enthusiast there does come a point where it doesn't make sense to spend that much on a car you're going to be driving daily.

            The point of putting 20% into the account you use for car related expenses as an enthusiast, is you never need to have a car payment to the bank, because you are always making one to yourself.
            There's also nothing that says you have to spend all of that 20% on your car every month, or once every 5 years, but that is a good upper-limit on what you should be doing.

  16. 1 month ago
    Anonymous

    Finance advisers recommend 10% of your annual salary is spent on transportation, meaning car payments + gas + maintenance + insurance + parking.

  17. 1 month ago
    Anonymous

    My rule is that if I cant pay it off in a year (assuming no other financial expenditures) I shouldn't buy it

    • 1 month ago
      Anonymous

      Grandparents would only finance if they could pay off in full. It still works.

  18. 1 month ago
    Anonymous

    200%

  19. 1 month ago
    Anonymous

    400k gross / 40k car here but I've bought a 20k car on 45k salary back when I was a poor and it worked out fine

    • 1 month ago
      Anonymous

      Wat do? How gotted 400gays per year

  20. 1 month ago
    Anonymous

    >cleared $72k last year
    >wants a $36k+ BRZ tS
    >would rather finance a mortgage instead

  21. 1 month ago
    Anonymous

    I kinda just look at what i got in my car fund. Every month i just put in 5% of pay and when i feel like buying a new car i just use that

  22. 1 month ago
    Anonymous

    If you make $120k you don't have the time to spend working on some shitty car. TIme is money you people don't seem to understand

    • 1 month ago
      Anonymous

      Some people just enjoy working on their cars.

  23. 1 month ago
    Anonymous

    the 10% rule is for your monthly, not yearly, salary.

    • 1 month ago
      Anonymous

      I can't even buy a bicycle for $500, bro.

  24. 1 month ago
    Anonymous

    That's if you finance a car you dumb minority. If you make $2000/month, a "responsible" car payment would be $200/month.

    • 1 month ago
      Anonymous

      I make $6000/month and if I had a $600/month car payment, according to DA I'm a Black person with < 500 credit score being suckered by the israelites

    • 1 month ago
      Anonymous

      Most people finance their car

      • 1 month ago
        Anonymous

        Yes, I know. That is why I corrected him.

        I make $6000/month and if I had a $600/month car payment, according to DA I'm a Black person with < 500 credit score being suckered by the israelites

        They're morons. As long as you can afford it, there's nothing wrong with enjoying nicer things. I don't care what the bus riders think.

  25. 1 month ago
    Anonymous

    If you're a car enthusiast, you should be willing to spend ALL your disposable income on a vehicle.

    • 1 month ago
      Anonymous

      No, you should be like a used car dealer, not some wide-eyed silly c**t.

      Learn to wrench because you are no enthusiast if you haven't rebuilt at least one engine. Buy tools before toys and you will have many more toys than otherwise. Pay off your land before getting silly about toys and buy land with ample room for toys and your garage and workshop(s).

      Never go shopping hungry and never marry what you can pimp.

      Lead a planned life and wallow in vehicles, but plan everything including your career and location integrating your interests. I did as have my many bros.

  26. 1 month ago
    Anonymous

    My mortgage is 15% of my monthly income. My car is 8% of my monthly income. I think I'm good...

  27. 1 month ago
    Greased Geese

    >what percent of your gross salary is appropriate to spend
    best way to do it is to not know

    • 1 month ago
      Anonymous

      objectively correct

  28. 1 month ago
    Anonymous

    >i personally adhere to the 10% rule.
    I just rotate cars between family.
    >parents get tired of their car
    >i buy their car
    >drive that car for 140k
    >send it back to family as the business beater car to profit off of schedule c
    >get another car
    >rinse and repeat
    Cars are not a significant expense for me. I think I'll buy three cars later on, mostly because I really want to buy two city cars and a van.

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