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re: What is your annual income, and how much did you pay for your vehicle?
Posted on 3/4/23 at 4:53 pm to fallguy_1978
Posted on 3/4/23 at 4:53 pm to fallguy_1978
quote:
If I made 400k I'd have no problem dropping roughly 100-125k
frick that. Sounds like a good way to get stretched thin.
2
Posted on 3/4/23 at 4:53 pm to BabyTac
5’6”
238 lbs.
238 lbs.
Posted on 3/4/23 at 4:54 pm to BabyTac
I make a couple million a year. I paid cash for my Phantom.
Posted on 3/4/23 at 4:55 pm to WylieTiger
quote:
6’2
205lbs
6'5
300
Posted on 3/4/23 at 4:55 pm to BabyTac
I make enough. I drive either my Lexus or my Nissan.
Posted on 3/4/23 at 4:55 pm to The Third Leg
quote:
frick that. Sounds like a good way to get stretched thin
1/4 of your annual income is very reasonable for a vehicle purchase for most people. Most people go way beyond that. If you are making 400k that shouldn't impact your retirement and savings etc.
That's the equivalent of someone making 130k buying a new Camry
This post was edited on 3/4/23 at 4:57 pm
Posted on 3/4/23 at 4:55 pm to BabyTac
You want a honest answer, last year I made 62k my car payment was 240
Posted on 3/4/23 at 4:56 pm to BabyTac
So what happens if you make $0 bonus due to macroeconomic issues?
Posted on 3/4/23 at 4:58 pm to BabyTac
I'm unemployed.
I stole the car I'm driving.
I stole the car I'm driving.
Posted on 3/4/23 at 4:59 pm to fallguy_1978
quote:
1/4 of your annual income is very reasonable for a vehicle purchase for most people. Most people go way beyond that
People also finance trucks for 84 months like a bunch of dummies. What's your point?
Posted on 3/4/23 at 5:00 pm to fallguy_1978
quote:
Be honest, you could do that shite in a Frontier if you wanted to
Probably but I drive 8hrs to Texas and pull my SXS and 4 wheeler sometimes. I could do it with a F-150 until I needed to drag a tractor 5hrs then I’d want my F-250.
Posted on 3/4/23 at 5:01 pm to The Third Leg
quote:
If I made 400k I'd have no problem dropping roughly 100-125k frick that. Sounds like a good way to get stretched thin.
Wouldn’t even be close to stretching thin. I think my 2021 X5M was 115k or something close to that. I’ve had it for 18 months my note is $550 and I owe 15k.
This post was edited on 3/4/23 at 5:03 pm
Posted on 3/4/23 at 5:02 pm to BabyTac
Have two "get to work" cars to drive - older but reliable low mileage cars. I'll rent a car if I'm going on a long road trip.
No cost for full coverage insurance either - if they blow up, off to the wrecking yard they go. If I want to be showy, I'll drive one of the vintage old cars.
Formula works good - haven't had a car payment in over 25 years. Bought one SUV that had hail damage but was otherwise pretty nice. Since it has since been through two hail storms, I'm glad it had the hail damage.
Friend has four cars, none less than three years old but all are new enought to require full coverage - pays 18,000 a year for f'in car insurance.
No cost for full coverage insurance either - if they blow up, off to the wrecking yard they go. If I want to be showy, I'll drive one of the vintage old cars.
Formula works good - haven't had a car payment in over 25 years. Bought one SUV that had hail damage but was otherwise pretty nice. Since it has since been through two hail storms, I'm glad it had the hail damage.
Friend has four cars, none less than three years old but all are new enought to require full coverage - pays 18,000 a year for f'in car insurance.
Posted on 3/4/23 at 5:02 pm to DiamondDog
quote:
People also finance trucks for 84 months like a bunch of dummies. What's your point?
Person I replied to said he wouldn't spend 100-125k on a vehicle if he made 400k. I said that was a fairly reasonable amount at that income level
Posted on 3/4/23 at 5:02 pm to fallguy_1978
quote:
1/4 of your annual income is very reasonable for a vehicle purchase for most people. Most people go way beyond that. If you are making 400k that shouldn't impact your retirement and savings etc.
Most people can’t afford what they buy. Six figure cars should be for the wealthy, not the upper middle class. Granted, these days cars are stupidly overpriced so easy to fall into a six figure car.
Posted on 3/4/23 at 5:03 pm to BabyTac
I don’t make much money but I worked hard and long enough to be able to afford a 1992 Toyota pickup. So that’s ballin on a budget
Posted on 3/4/23 at 5:03 pm to BabyTac
This thread will be nothing but the truth I can tell you that
Posted on 3/4/23 at 5:04 pm to BabyTac
Currently paying $0 a month as both cars are paid off. Typically about 5-6% of our net income would go to a car note.
Posted on 3/4/23 at 5:06 pm to The Third Leg
quote:
Most people can’t afford what they buy. Six figure cars should be for the wealthy, not the upper middle class. Granted, these days cars are stupidly overpriced so easy to fall into a six figure car.
You can make a F150 100k. 400k is a lot of money. I'm OT poor in comparison. I probably wouldn't do it but I don't think it would alter my finances much to buy 100k Corvette making that much money
This post was edited on 3/4/23 at 5:07 pm
Posted on 3/4/23 at 5:06 pm to BabyTac
Low 6-figures
$5K
Unless I take a road trip, I usually drive less than 300 miles/month and rarely get more than 3 miles from home. Can't justify a $800 car note and $150/month in full coverage insurance for as little as I drive.
$5K
Unless I take a road trip, I usually drive less than 300 miles/month and rarely get more than 3 miles from home. Can't justify a $800 car note and $150/month in full coverage insurance for as little as I drive.
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