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04-05 Pedal Insert
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15,218 Posts
Discussion Starter #1
According to Maxim..this is how much your car payment should be:



Well actually they got it from edmunds..

Your car payment should be 1/5th of your take home pay.

1/5 your salary(Monthly) x 60 = What you can drop on your ride.

I did this..and ther is no way in the world I would ever drop that kind of coin on a car..That number..percentage..whatever is sick high.

Discuss
 

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04-05 Pedal Insert
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15,218 Posts
Discussion Starter #3
dsuave624 said:
I remember reading that too. I think it's just a basis for people buying their first new car.
Are these people living at home with mommy and no kids or spouse?
 

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Registered
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2,215 Posts
1/5 of my salary pays for my Altima, wife's Celica, insurance and gas.

This is like the "recommended" 3 month's salary for an engagement ring.
 

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04-05 Pedal Insert
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15,218 Posts
Discussion Starter #7
tdoyle said:
1/5 of my salary pays for my Altima, wife's Celica, insurance and gas.

This is like the "recommended" 3 month's salary for an engagement ring.
1/5 pays every bill I have each month Except the wifes monthly CC bill........
 

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Smashing slores
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2,419 Posts
Sounds about right to me, I am at about 1/6th when you total everything up :dunno:. Then again maybe thats why my bitch-ass can't even dream about owning a house for at least 2 more years.
 

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04-05 Pedal Insert
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15,218 Posts
Discussion Starter #10
My Altima is the highest payment I have ever had on a car at 340.13 /3yrs.

I can't feel good about paying more than that a month.

By the way..October is pay off month:D
 

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04-05 Pedal Insert
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15,218 Posts
Discussion Starter #12
ChickenWing said:
it seems i should have spent exactly $10,000 more when i bought the G.
LOL...You think that's bad........I am 43k under budget....:confused: or 3.3 Civics
 

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04-05 Pedal Insert
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15,218 Posts
Discussion Starter #14
ChickenWing said:
cheapskate. :D
You got that right....I think 30 K is big money for a car..Just an every day car anyway...
 

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racelegal.com
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1,303 Posts
wow, 1/5? that covers both of my car payments, insurance and gas. I can't imagine spending that on just one car.
 

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OG
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4,071 Posts
wild willy said:
You got that right....I think 30 K is big money for a car..Just an every day car anyway...
true, especially when u can buy very dependable used cars for 1/2 that.

if those numbers they give are from sort of average among american car buyers then no wonder we're so much in debt as a country.
 

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Be very afraid...
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5,464 Posts
christo said:
wow, 1/5? that covers both of my car payments, insurance and gas. I can't imagine spending that on just one car.
ditto on what that covers for me ... although I can just imagine the car I could have for a $1,100 monthly payment :cool:
 

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Cube Farmer
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2,202 Posts
I could see the payment that gives you for a three year note with 0 down, on a high end car, but that figure is way to high.
 
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