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Started By
Message
Spinoff: What % of gross annual income is your auto note(s)?
Posted on 12/14/15 at 9:46 am
Posted on 12/14/15 at 9:46 am
0% for me!
Both vehicles paid off!
Both vehicles paid off!
18
Posted on 12/14/15 at 9:48 am to BayouNation
Nice and congrats man! It's always a great feeling. I'm about 3 months away from paying off the 2nd car and then I'll be with you.
But I'll probably end up buying another SUV right after it's paid off so meh...
But I'll probably end up buying another SUV right after it's paid off so meh...
Posted on 12/14/15 at 9:51 am to DoubleDown
quote:
But I'll probably end up buying another SUV right after it's paid off so meh...
Don't do it just yet! I've been putting away those note payments in savings and have enough now to pay cash for a brand new vehicle, but just can't pull the trigger! I really like seeing my bank balance these days!
Posted on 12/14/15 at 9:51 am to DoubleDown
About 7.5% of gross. I drive a very nice car but can easily afford it.
If money ever got tight, I have no problem downgrading.
Eta: Why would someone down vote me for this?
If money ever got tight, I have no problem downgrading.
Eta: Why would someone down vote me for this?
This post was edited on 12/14/15 at 4:18 pm
Posted on 12/14/15 at 10:05 am to BayouNation
Bought 2 cars last month.
Total annual notes = 6.08% of annual income
Total annual notes = 6.08% of annual income
Posted on 12/14/15 at 10:19 am to BayouNation
Something like 5%. Wife has to drive a new car every 2 years. Both my vehicles are paid for.
Car insurance pisses me off though. Awfully expensive just to make sure I don't get sued for everything I own.
Car insurance pisses me off though. Awfully expensive just to make sure I don't get sued for everything I own.
Posted on 12/14/15 at 10:22 am to BeerMoney
Louisiana has the highest auto rates in the nation. it is high for yall.
For us it is 4.95%. not to bad. Mine is paid off but the wife got a new one last year.
For us it is 4.95%. not to bad. Mine is paid off but the wife got a new one last year.
Posted on 12/14/15 at 10:28 am to MsState of mind
0%
Company car.
Company car.
Posted on 12/14/15 at 10:30 am to BayouNation
What is the point of this thread? My goodness, take this to the OT.
Posted on 12/14/15 at 10:58 am to BayouNation
0, paid off my car in 2010 and wife's in 2013. But, both are getting up three in age, mine 10 yrs old with about 160K miles and wife's about 6 yrs old with 140K in miles.
I'm only putting about 10K on my car a year at this point in commuting miles, so I'm hoping to get another 3-4 years out of it.
Wife's, though, may need to replace in the next year or so. Not looking forward to that.
I'm only putting about 10K on my car a year at this point in commuting miles, so I'm hoping to get another 3-4 years out of it.
Wife's, though, may need to replace in the next year or so. Not looking forward to that.
Posted on 12/14/15 at 11:04 am to LSUFanHouston
Went from 2 paid off vehicles for about 3 years to 2 brand new ones(one for the wife) in the last month so unfortunately I'll be at about 7.8% for both.
Posted on 12/14/15 at 11:08 am to BayouNation
5% currently. My wife will be getting a new vehicle when she finishes school, though. It'll probably be around 9% or so then.
Posted on 12/14/15 at 11:31 am to BayouNation
0%
My car was paid off years ago.
196K miles and still going strong!
My car was paid off years ago.
196K miles and still going strong!
Posted on 12/14/15 at 11:33 am to BayouNation
1.6%, just my wife's car. Mine is paid off and I get an allowance from work so I'm using that to build my car fund for the next vehicle purchase.
Posted on 12/14/15 at 11:39 am to BayouNation
0%
Posted on 12/14/15 at 12:05 pm to BayouNation
quote:
0% for me! Both vehicles paid off!
Me, too. But nothing lasts forever.
Rule of thumb - you should limit the purchase price for an automobile (one that does NOT pay for itself) - to approximately 1/4 of your gross annual income. I know that sounds crazy in the days of $50k half-ton "luxury" pickup trucks, but it is a solid baseline.
This post was edited on 12/14/15 at 1:03 pm
Posted on 12/14/15 at 1:27 pm to BayouNation
8.7% with no bonus or wife's salary factored in
Posted on 12/14/15 at 3:39 pm to BayouNation
quote:
0% for me!
Paid off my car last month.
Posted on 12/15/15 at 12:53 pm to jclem11
0%
I drive a 2005 ford taurus with 260k miles on it. Will be getting a new (to me) truck here in about 6 months but will limit it to 10% including insurance and taxes.
I drive a 2005 ford taurus with 260k miles on it. Will be getting a new (to me) truck here in about 6 months but will limit it to 10% including insurance and taxes.
Posted on 12/15/15 at 1:05 pm to BayouNation
4.5% for my wife and I.
My car is paid off (2008 Grand Prix with 97,000 miles)
My wife's Jeep will be paid off in 13 months (2010 Grand Cherokee with 56,000 miles).
We just had our first baby in June so both vehicles are okay. However, baby #2 is coming this June so I have thought about getting something bigger. However, I want to wait as long as possible as I hate making car payments.
My car is paid off (2008 Grand Prix with 97,000 miles)
My wife's Jeep will be paid off in 13 months (2010 Grand Cherokee with 56,000 miles).
We just had our first baby in June so both vehicles are okay. However, baby #2 is coming this June
so I have thought about getting something bigger. However, I want to wait as long as possible as I hate making car payments.
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