How much of your salary should go to a car payment?

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Old May 17, 2006 | 01:59 PM
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How much of your salary should go to a car payment?

aka - stop me from selling my wagon and buying an STI!!!
Old May 17, 2006 | 02:01 PM
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Old May 17, 2006 | 02:03 PM
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like 10%
Old May 17, 2006 | 02:06 PM
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Originally Posted by 02BlackWRX
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no way, car loans are the in thing :/
Old May 17, 2006 | 02:08 PM
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Originally Posted by subie OCD
no way, car loans are the in thing :/
haha thats what I thought back when I bought my subaru, but then I started to hate it so I paid it off

i'll probably be taking one out at the end of this year though to buy an M car of some sort
Old May 17, 2006 | 02:09 PM
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I think Im at ~ 15% of my after-tax monthly salary.
Old May 17, 2006 | 02:15 PM
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I'd say 10%-15%.

I'm at about 15% right now, and if I had to pay any more, I don't think I'd do it agian. I like my car but not so much to make me sacrafice more then what I currently do.
Old May 17, 2006 | 02:22 PM
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None is the best, but like 10-15% is average. There's always those fools that spend like 1/2 of their paycheck for a nicer car, yet live in a ****ty apartment. :rotfl:
Old May 17, 2006 | 02:27 PM
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yeah mine is on the range of 10-15% after taxes, but this is when i financed the entire car, but now less because i sold another car for a lotta cash. but yeah it also depends on what your monthly payments are, which can depend on term, apr, total borrowed.

i would worry about where you living first before dumping it ALL into a nice new car.
Old May 17, 2006 | 02:30 PM
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if ur lookin at the sti, sometimes the inrease in insurance premium can be a larger issue than the increase in monthly payments. something to consider i guess since wagons are less $$ on insurance.
Old May 17, 2006 | 02:31 PM
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Im lucky, I bought the car in '04 and got a 4% loan. Cant get close to that nowdays.

And yeah, more insurance too, although my premiums went down alot in the past year


Damn stupid STi's :grrrr:
Old May 17, 2006 | 02:37 PM
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none. so what if you get a low rate? after today's market tanking and CD's and money market rates being so abysimal, what's the point of having a car loan? ...unless of course you don't have all the dough for it
Old May 17, 2006 | 02:43 PM
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Originally Posted by stevenkhau
none. so what if you get a low rate? after today's market tanking and CD's and money market rates being so abysimal, what's the point of having a car loan? ...unless of course you don't have all the dough for it
Rates are goin up man, they have been for the past year and a half - two years!

Although they will proabably flatten out in a bit...
Old May 17, 2006 | 02:47 PM
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Im at 3.9% on my sti too. Ins rates were actually lower than my 2door accord
Old May 17, 2006 | 03:14 PM
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Yeah I think 10% would be good.. But then again, what do I know, I don't pay for it



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