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Wouldn’t you want to annualize the value over the expected life of the asset? Doesn’t really allow for meaningful comparisons if you don’t. At any rate:
2017 BMW X1 (55K) - TC 170K - Atlanta - 32%
Calling BS on this whole thing. 24 and TC $170k? Lmao
I’m the outlier and I don’t care, no other debt. I love my car!
2019 S4 (49k OTR) making 102k TC.
Bimmer fanboy coming in hot
Ride a bike. Don't have a car. #Amsterdam
Bought a Tesla Model 3 when it came out in 2018.
$60k with taxes, $49.5k after first-year tax incentives. $2500/year saved in gas, so effectively $47k in first year.
$180k household income, so 26%
I lease so i try to be around 0.5% of annual income per month. Audi S4 $550 p/m 120k salary
Lease Jeep gladiator $430, $140k plus $85k bonus
0
I just woke up and read this as how much do you spend on your CAT before rubbing my eyes and looking twice. That would have been a great thread.
Oops typo I actually spend 10% of my salary on my 4 year old cat
Porsche 911 convertible $120,000
600k
2001 Porsche 911 Turbo (~60k) - TC 310K - Somewhere in Europe.
Advantage - with some care and luck, the car won’t depreciate at all from when I bought it.
I love that I can daily a high performance sports car and not break the bank. Arguably the tech is outdated but I prefer that.
So far I only spend money on regular maintenance. Can’t speak to other costs yet. Insurance isn’t too bad and the 996TT Metzger engines are rock solid.
OP in a *Chevrolet* Malibu not a Chevy. It must have a CD player instead of cassette. 💅
Insurance, taxes and maintenance yearly: $600
2008 Kia Sportage
2016 Benz C300 (30k mileage) - bought for 22k last month.
TC: 103k so, 21.4%
If I clear the loan in two years, I would spend around 10% of the Annual income
0 - buy outright
Also feel this depends a lot on where you live. If you’re in Dallas and drive everywhere you get a lot of value out of a nice car plus most other expenses are low. If you live in NYC it’s a luxury and uncommon just to have a car
$4k - $120k - Chicago
Not buying an expensive car is the best decision I ever made. Allowed me to save so much money.
Weird flex but okay
Agreed you’re best not spending a big fraction of your income on your car but better off increasing the denominator than decreasing the numerator right?
Live in Manhattan, so $0
2015 Subaru WRX Limited ($18k) - TC 155k - Chicago
Actual numbers that seem more relevant:
- monthly payment of $330 (4.7% of net)
- insurance of $130
- parking $150
---
% of gross income actually spent on my car per year: 4.7
More fun: I avg 34mpg highway even with a lil turbo fun
Like .5% - why buy a new car when you can rock your paid off vehicle from college? All I do is drive it to the airport and if I’m completely honest, the registration is currently expired 😂 Woo, go team! And since we’re bragging about income on this thread apparently, I’m at $150K
Good for you 10%, y’all a fool if you you don’t buy used/pre-owned. drive that car into the ground, then go electric in 10 years.
I bought 2, 5 series BMWs 7 years ago... paid 90k cash for both (both fully loaded, 535 and 528). Total comp was 300k. Plan on driving them until they crap out... hopefully another 5 to 10 years. Have not had a car payment in over a decade!
Louder D8 🗣
If only more people followed the mantra of you do you, we would be better off in society today.