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re: What is the ratio of the price you paid for your car to your annual salary?
Posted on 3/16/15 at 12:12 pm to JudgeHolden
Posted on 3/16/15 at 12:12 pm to JudgeHolden
This rule works if you buy used.
Lets say you make 60K.
You can spend 6K on a car per year. Save for your car for 4 years. Pay 20K for a new camry or accord and drive it for 10 years or 200k miles.
You only spent 20-24K on the car over 10 years which is 2.4K per year. Yes maintenance is more, but not much more.
Lets say you make 60K.
You can spend 6K on a car per year. Save for your car for 4 years. Pay 20K for a new camry or accord and drive it for 10 years or 200k miles.
You only spent 20-24K on the car over 10 years which is 2.4K per year. Yes maintenance is more, but not much more.
2
Posted on 3/16/15 at 12:55 pm to SECdragonmaster
quote:no, see, my buddy just explained it to me. say you make 100K, and you spend 10k on a car. what you wanna do is drive it home as quickly as you can so depreciation doesn't catch up with it, then don't drive it. while it sits in your garage, it's earning -$0.00/mile that it's NOT driven. or something like that.
This rule works if you buy used.
Lets say you make 60K.
You can spend 6K on a car per year. Save for your car for 4 years. Pay 20K for a new camry or accord and drive it for 10 years or 200k miles.
You only spent 20-24K on the car over 10 years which is 2.4K per year. Yes maintenance is more, but not much more.
Posted on 3/16/15 at 5:51 pm to SECdragonmaster
$195,000 - $19,999 chevy Silverado used 2009.
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