Just wondering how much you guys think is to much to allot out of your monthly gross income to the cost of a car.

Also----

what are the annual costs of ownership for you guys figuring in everything?

I was trying to figure out how much it would cost me yearly to drive the s2k as a daily driver around 15k miles per year.

Thanks guys.

 

If you've bought a house (not necessarily paid off), paid off your credit cards and/or student loans, have a clear path to retirement (calculated 401K or whatever), and have a few months of emergency cash, then the sky's the limit.

Otherwise, at least go buy that house before you worry about how much income to spend. If I listened to my dad, Mr. cheapskate, I'd still be driving a mid-70's Type III VW.

 

Aye, good advice Penforhire, but who wants to be responsible General figures I guess, Average lease payment 400ish, Average buy 650ish (I realize that there are TONS of variables there), Average MPG 24ish@15kmiles@1.65gal=roughly 1031 in gas, Tires around every 10kish miles at least rears 750ish new (for 4 that is), insurance varies wildly from 75/month+ Average is prob around 100/month for peeps 25 or older with decent record. Now these are all off top of my head, not the most accurate but should give you an idea. Going with a figure of 525/month for car (average between lease and buy) 150/month for insurance, (dunno why) your looking at roughly $9880. No matinance included. Again these are REALLY rough #'s, but is prob close to some sort of average.
Steve

 

Funny you should say you'd still be driving that.....My daily driver is (at the moment) my '66 VW Type III. Making up for past sins, I'll be in an S2K by the end of the year.

Take it from me, don't screw yourself early on or it will be harder to have nice toys even after you really can afford them!

Travis