Realistically, can you afford your car currently

Let's play a game. Who has the highest income to car value ratio?

I'll start...
>Yearly income - $60k
>Bought car for $950
>60,000 / 950 = 63.16

What's the most one should finance on a car? Half a year income?

I don't own a car.

X/0 = ???

$30k/year before tax

Bought a used FRS for $18k.

My car makes up 12% of my total expenses, or 6% of my take-home income.

I can more than afford it, but being used to paying almost nothing for it makes the thought of spending more on something more fun so much more difficult.

I make a little less than 20k a year and bought my miata for $5100 cash. How'd I do?

Yeah. Wife and I both own 6 year old Mazda 3s. We both earn over $A100k and the house is paid off.

Can you afford to not own a car?

Paid 1k€ for mine around 6 months ago. Biggest issue I had was replacing the battery, everything else were minor fixes I did (rear wiper, boot lock and stuff like it). Other than burning some oil (1L/4000Km or so, still deciding on how to address it), it's just fill with gas and drive.

Also in this shithole of a country (I don't think there's any other european country where a fucking '93 1.4 Opel Corsa for 1k is "cheap"), I'm already used to people overspending for a car, here they're all about showing your neighbours you are better than them. Hell I've seen people literally skip meals so they could afford a car from one of the 3 big germans.

>don't drive unless you need to
Get the fuck out

I drive a 2003 RAM 1500. Paid for it in cash and don't spend more than $350 a month on insurance and gas. My monthly NET income is ~$3,100.

If you finance or lease a car for any reason, you are retarded. Might as well finance your furniture and gaming console too because you're a hick.

>Paid $1800 at 120k 5 years ago
>Currently at 190k
>Only replaced the battery, tires, spark plugs, etc
>General maintenance costs
>Get about 34mpg
It has crank windows, no aux on the stereo, manual without a tachometer, itty bitty 14" wheels, no hubcaps, and the AC makes it start chugging
But whatever, it drives me around well and is ridiculously cheap

1/3rd of monthly income is the max you should pay in payments imo.

>Paid 3k nearly a year ago
>Done another 20km kms
>$300 into it (oil changes, minor repairs, adding aux)

>Only making 15k
>25k in savings

>drive cars far below my actual budget levels
>sometimes wonder if others' perception of me based on this is holding me back
>never see any fox bodies at the country club

What car?

>making 80k/yr
>still driving my 2000 GTP from high school

I have yet to test drive a new car that makes me want to ditch the GTP. All my coworkers rag on me at the hospital but they are the ones eye deep in BMW car notes and house payments plus kids. Meanwhile I have zero debt and no kids

Realistically? Yes.
Do I have to cut back on loads of other shit? Yes.
Do I regret anything? Not at all.

I'm having the time of my life, and I've only gotten 1 out of maybe 10 cars on my "bucket list".

Shitbox costs 4k
Make 40k/year
Drive said Shitbox for 10 years, 400 a year for a car, most people spend 400 a month.

Uh. If I couldn't afford my car, I wouldn't have bought it.

Admittedly, like 1/4 of my pay goes into paying it off, but that's what you get when you buy a 3 year old car on a 3 year payment plan.
It still costs me less than an old, unreliable, inefficient, old 500 mile trips basically on a whim while laden down with crap.

Found the 'unsafe' demographic.

Either you've hit something, or you're a young male with a halfway decent car.

>AC
>shit everything else
First owner sure had his priorities straight

>buying a new car

Well, they're overpriced if anything.

Not entirely sure how it's less expensive than an old shitbox either.
How much do you have to pay for it in total?

if my evo broke on a major level my insurance would cover it and i currently be almost 100$ over my minimum monthly

So i guess im good?
To replace the trans fluid and filter is like $500

Nobody cares unless your profession is something like a real estate agent where clients see your car. I've been working at the same office for 6 years and can't tell you who's car is who in the parking lot. My neighbor is an ER doctor and he drives an old 90s Jimmy

i pray this is bait, but i'm sure it isn't

that's way too much - most advisors say that you shouldn't spend more than 1/3 of your income on rent/mortgage. Just imagine making $900 per month and having a $300 car payment, that's insane.

Ye but I'm not american

>tfw living in shit country and have to pay 30k$ for average car (same car can be between 3k to 7k in us or eu) thanks to tax and other shit

In a country where average income of a person is 700$ per month. You guys dont even know this feel.

i'm a student with no incone or anything and I own a 2004 E60 5 series that I bought with my savings. I can afford fuel, basic maintenance but if anything major breaks (if the engine or transmission blows up or smth) I'm pretty much fucked
I do like my car it keeps getting me pussy though

Civic DX

Make about 8-10k a year from my student job, got a 4k car that needed a new engine five days after I bought it. I do all the work myself, so it's relatively affordable.

Then in the end you give it back to the dealer because you leased.

Where is this? I used to live in israel and it was similarly shit but not that shit

I make €25k a year after tax. I bought a 2010 volvo that cost about 9.5k after a trade in. I got a loan for this that I pay back at €60 a week. I have low rent and bills are very manageable, but I spend pretty frivolously and don't do the whole savings thing. I can definitely afford it but I should be more financially smart, but hey I could be dead tomorrow!

>tfw I am a real estate agent and take the broker's van to showings because my truck looks like a maintenance man's (which I also sometimes am) and my car looks like a boiracer's

I work at a company of 15,000 people and our CEO drove a 90s Jeep Cherokee until just a year or two ago.

sort of, insurance is slowly stealing my money
I do need the car to get home for holidays
>car is payed for and runs but needs repairs
>negative income because student
>under 25 male so high insurance

Make ~40k a year

Drive a challenger rt bought new for ~30k interest is going to rape me but worth it

yearly income: 13,000$
car cost: 1$
ratio: 13,000:1

>drive '99 LS1 Trans Am and '91 civic hatch dx
>pizza boy

06 Mustang GT that I bought cash 9000 about 2 years ago and I make close to 70k at the end of the year. I guess I can afford it. I spend about 40 bucks in gas a week though.

Another middle eastern shit, Turkey.

Nope, even with the depreciation I couldn't afford my car, luckily dad was upgrading and more than willing to let his car go, spoiled fuck etc.

Yes. If i payed for labor than no.

I cant buy full tank of fuel, let alone afford the car.

smart money is on not paying a car note. If you can't control yourself or are too stupid to save then keep that payment under $300/month, closet to $200/month is better.

I know lots of people who pay $500+/month and I've got no clue how the fuck they do that other than living in crushing debt or squalor.

Save $4000, buy a jap car with 100,000 miles, drive it till it dies. In the 4 years you're driving that car pay yourself a $300/month car payment & you'll have $14,400 to drop on your next car. Drive that >30,000 mile car for the next 6 years, up your payment to $350 (assuming you're now doing better financially) & then pay cash for a $25,200 car.

Will it take fucking forever to get a good car? Sure. Is it much smarter than paying Jews 6% interest? Are you stupid?

I drive my mom's second car in return for paying for replacement parts and fixing things. I also help maintain her other car.

I have zero intention of buying another car unless I can pay all cash. Paying interest on a depreciating asset is the dumbest fucking idea I've ever heard.

2003 Toyota HiLux. Expensive to buy, but cheap insurance, doesnt use much fuel and very cheap maintenance

Paying cash on a depreciating asset is equally as bad.

The only time you shouldn't finance a car is if the interest is high as fuck, e.g. over 4% and you're doing it over a long period of time (5 years+)

I live in the city ;_;

Putt8ng money away and not doing anything with it is stupider than falling victim to usury

...

Nah man, you have money, use it.
I didn't say anything about wasting money.

It's a 2004 diesel Accent rusty shitbox paid in cash and with great mpg's

So yes.

Loaning money for a depracating asset is foolish, buying a cheap expensive car is slightly less foolish because maintnance will kill you

I said max 1/3rd. That doesn't mean if you make $900 a month you should go and spend $300 a month on a car.

And you get less room to negotiate on price as well as uncertainty if you're suddenly unable to make payments due to lack of short-term liquidity.

Here's a very good pro tip:

DO NOT BUY A CAR ON LEASE UNLESS YOU CAN AFFORD FULL PAYMENTS IN TWO OR LESS YEARS WITH $400+ LEFT MONTHLY

I made the mistake of doing this and now it will take me 1.5 more years to finish paying for a $7000 car that costs me $450 a month. The payments are significant enough in my budget to keep me from being able to afford a baseline apartment on my own while having a good food budget.

Kill me now.

BUY IN FULL FROM A PRIVATE PARTY USED IF YOU CANNOT AFFORD TO PAY LEASE. If you can, go for it.

I want to trade this lease to another buyer but I don't have an idea how and my work is an hour drive away. I can't even buy a gun for the November world war.

It's the equivalent to telling your wallet Just Fuck My Shit Up.

It's like you don't even enjoy driving

>Yeah. Wife and I both own 6 year old Mazda 3s. We both earn over $A100k and the house is paid off.

Confirmed for intelligent use of money to destroy overhead expenses early on.

Keep it up and you'll have even more fun money and a comfy retirement.

Bought my shitbox for $1000. I'll probably make around 50k this year. I think I'm all right.

I make about $20k annually working part-time while in college. I bought a 15 year old Lexus for $3400 cash. I just bought a new timing belt which left my wallet BTFO but it shouldn't need anything other than wear items for another 6 years.

A 2jzge timing belt cost what, 50$ at Napa.
Maybe 180$ at lexus
Not seeming that expensive to me..unless you played someone to install it.