What % of your income is your car note?
Apr 25, 2008, 08:57 AM
#16
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My % is fairly low. Between cash and trade in I put 20,000 down. Insurance is cheaper then my previous vehicle. So the car didn't make much of an impact.
You could always put the $600 you would be paying for the car in a savings account for a while to see how it effects your monthly living. If it works out you have some extra cash to put down and a cheaper payment to go with it.
You could always put the $600 you would be paying for the car in a savings account for a while to see how it effects your monthly living. If it works out you have some extra cash to put down and a cheaper payment to go with it.
Apr 25, 2008, 09:13 AM
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The dude makes like 41k. (600 / .176) * 12 = 40909. You should be fine if you're single and do not have a lot of scrubs around you asking for money when you go out. That's assuming that's how much you bring home because I bring home about that much after Uncle same + ins + 401k takes 20% of my salary each year.
(that is take home BTW) I'm not single, but my wife makes 70% of what I do and she has NO debt or car payment, ... so it helps w/ home bills, etc. And we don't have any kids... The money I still owe for college still kinda makes me somewhat hesitant though...Thanks for the replies everyone... I know this is personal info, etc. But, it's not like you guys know me and it's not like I go blabbing all this info. to the people I work with or even my friends.
Gotta love the anonymity of the internet!
Last edited by Monkeykungphu; Apr 25, 2008 at 09:18 AM.
Apr 25, 2008, 09:20 AM
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Good point, I believe I will give that a shot.
Apr 25, 2008, 09:21 AM
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I just got a job for after college (starting June) making 48k. I plan on getting the MR with nav, and aero, so final after taxes I'm betting on $46000, I'll be trading in my POS for probably about 2000. With that I'm looking at a $850 5 year car payment. Other than my car I will have about $500 in college loans a month, the unfortunate credit card lets say $200, rent $400, insurance $400. That leaves me about $1000 a month to save/ pay **** off early. This plan puts my car at nearly 25% of my yearly earning. I think thats worth it, I'll have to wait and see... 
Apr 25, 2008, 09:49 AM
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Apr 25, 2008, 09:56 AM
#23
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Here's a man who paid attention in school! (that is take home BTW) I'm not single, but my wife makes 70% of what I do and she has NO debt or car payment, ... so it helps w/ home bills, etc. And we don't have any kids... The money I still owe for college still kinda makes me somewhat hesitant though...
Thanks for the replies everyone... I know this is personal info, etc. But, it's not like you guys know me and it's not like I go blabbing all this info. to the people I work with or even my friends.
Gotta love the anonymity of the internet!
(that is take home BTW) I'm not single, but my wife makes 70% of what I do and she has NO debt or car payment, ... so it helps w/ home bills, etc. And we don't have any kids... The money I still owe for college still kinda makes me somewhat hesitant though...Thanks for the replies everyone... I know this is personal info, etc. But, it's not like you guys know me and it's not like I go blabbing all this info. to the people I work with or even my friends.
Gotta love the anonymity of the internet!
Yep at least no one knows who you are, that's until you go to a car meet. You gave out all the numbers I just figured out the total, doesn't take a genius but sorry if you wanted to keep it personal.
Apr 25, 2008, 10:29 AM
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keep your prelude... i used to have a '00 type sh and as much as i love my evo that was a fun little car for what it was. having a fun beater + weekend beast is great if you can afford it!
Apr 25, 2008, 10:48 AM
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My notes is a touch over 35% also. After insurance and gas its around 50%. I'm debating how long Ill really hold onto it considering I have some career choices and what not to make in the next 2 years.
Apr 25, 2008, 10:50 AM
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gross with my wife and my income is 5.65% ... but we have a Honda pilot and mortgage and 2 kids blah blah blah.... haha.... when i was single i rented for 350 and my car payment (not for the evo) was 360 insurance was 100. that was like 40% at the time.
I like the putting the monthly payment away for 6 months and see if you can handle it. if so then you also help yourself with a downpayment.
oh and trade the lude and buy a set of winter tires if needed.
my evo is my DD....
STevo
I like the putting the monthly payment away for 6 months and see if you can handle it. if so then you also help yourself with a downpayment.
oh and trade the lude and buy a set of winter tires if needed.
my evo is my DD....
STevo
Apr 25, 2008, 11:13 AM
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Yep at least no one knows who you are, that's until you go to a car meet. You gave out all the numbers I just figured out the total, doesn't take a genius but sorry if you wanted to keep it personal.
Maybe when I get to the meet I'll just say my user name is Monkeytaikwando to throw off the wrongdoer with the exceptionally good memory! Problem solved.
him