SCM_Crash

Isn't that a matter of perspective?

Someone's $1000/mo car payment could be mammoth to someone who could hardly afford a $100/mo car payment. And it could seem like chump change to someone with a $5000/mo payment for one of the super expensive cars out there.

When my mom bought her new 2007 Infiniti M35, I gasped at the $600/mo car payment. But back then I was making under $3k/mo. Fast forward to today, $600 is nothing. When she heard me say to the dealer I wanted to keep my payment under $1,200/mo, SHE gasped. But I also make an astounding bit more money than I did 6 years ago. So it's really perspective.

The majority of my friends don't really know how much money I make. So when they asked me what my monthly payment is, like clockwork, they all thought I was insane. I just decided to let them believe what they want about what my income is. It's so much easier than explaining it to them.

MachAll 2005

I use mom's Social Security Check to make my monthly payment .... she gets a 1.5% raise January 1 so I'll have a little left over for gas.
(thanks Mom .... love ya as always).

sdurg24

Well, that may be true but at least it was an answer to the question. Now with a few more reasoned responses perhaps the OP can get some idea as to what is reasonable to a large number of people. Zero is not a reasonable answer to the question. It may be good advice but it is not an answer.

sdurg24

Nice, reasoned response.

MKenM

Although you hear about people who make rash decisions based on vanity or keeping up with the Jones' there are those of us who are in control and buy what we want and understand its impact on our lives and live well within those means.

jerseyz

I think that question totally in approximate it's like asking someone you just met how much$ they makes always. Find it much better to purchase it for cash I lucky to be in the position where I can

04 Torch Red Vert

Been gone awhile, love this response man haha.

Dave80C3

That is a lot, my mortgage is not even 25% of my gross income a month.

This car financing the whole thing would be under 9% of my monthly gross income, and I feel that is too much, so I am putting a good bit down.


My youngest and her husband can not afford a 200 a month car payment, and it would hurt them financially much more than a 1500 a month car payment would me. They have a 3 year old and a 3 month old. Me, no kids at home.


See this all the time. I look at some of these young adults in their mid 20's to early 30's with kids at home, earning 1/4 my income, driving 55K cars or trucks. Yet, cant go out to dinner once a month as it costs to much and are always living payday to payday.

ATC399

nah its a internet thing people love to BS, bash, mock on forums

Brivette77

917 a month for five years at 1.74%
I use my money to make a lot more in the
Stock market

Achmed

I figure it should be 25% car payment, 25% mortgage, (depending on where you live and what tax bracket you're in) - say 25% for tax, then 25% for utilities, spending money, etc.

So a person earning $120k a year should spend $2500 a month for their car payment, or two cars of $1250 per month each.

If you're not knee deep in debt I don't think you are living life to its fullest. Me and my friends sometimes compete with each other about who has most debt outstanding. The greatest debt to income ratio is the guy enjoying life

Dave80C3

I live in one of the lowest cost states in the country. No state income tax. There is no way I would have 2500 in car payments, and my income is above what you have listed.

First, my car notes added together will never be more than I invest into my retirement a month. I put 30K into retirement funds a year.

My Range Rover, and the Stingray when it comes in will not exceed 1500 a month together.

You are missing a few big key points on the break down you have.
Nothing listed for Retirement which is the first thing you should pay each month.

What happens when the Vette is totaled 4 months after you get it?

As I have aged, I have learned the less debt to income ratio I have the more fun life is. Last minute three day trip to Vegas, no problem. Four or five week long vacation trips a year, yep.

Having zero credit card debt, Fantastic.

MKenM

Can't you tell when someone is yanking your chain.

Dave80C3

In person yes. I guess not on a Forum.

Bill17601

Hey getting old sucks but writing a personal check for the car is nice. Payments zero.

Knobbie

Same here. 1.75% and I'm making about 8%/year with conservative investments. My wife wanted to use cash just because she doesn't like to have debt.

thrilled

Down payment $20,000. Payments are $840 A month for 36 months.Been paying $3000-$4000 A month.Probably finish paying it off in 3-4 months.
The only reason that I did A loan was to raise my FICO score from 820.

3 Z06ZR1

The monthly payment is my friend. I missed ordering at MSRP
which I could still do. But seriously it's winter and I would not drive it anyway till spring.Too much gravel and road debris that stuff kills your
car.
I have a Tacoma TRD 4 by 4 which I love
for a winter rig. The garage I'm extending right now.
to 44 feet inside lenght and heated
So it cuts my room for rigs till the 2 -3 months till it's done.

Then I have the 4450 miles ZR1 and 2008 Z06 to keep me busy.

Till my friend monthly payment will set it in by springtime anyway several guys with monthly payments will
store the new Z06 and resell after they figure out that monthly payment
is too much for the honor of it sitting in the garage.

Either way I'm paying less by the time it's time to really enjoy one.

The dealers will have deals by spring on the MN7's.
The deals on the 2015's stingray are 10 percent off.

RedC7AZ

My monthly payment is in the $100 - $999 range give or take.

svtkeith

For those who borrow or pay cash it matters not if you enjoy the car because at the end of the day we'll all die then what? LOL!!