Cars We Drive!

[patrick_b]

I've had company cars or car allowance since the 90's. I bought an Infinity FX35 from 07-10 where the car allowance made the payment & insurance. Company paid gas on top of that. Since 2010, I've been in Ford Edge's every 3-4 years. While boring as hell, it's nice to never worry about maintenance, insurance or gas on our primary family vehicle. Until I bought the GTI as a weekend car this summer, I literally hadn't paid for a tank of gas out of my own pocket in over 20 years.

 

[Jmm722]

Easy solution is don't have kids and you can continue to live large. That's how I flex on all my friends with my nice car and expensive ****.

Double income, no kids...though my dog is costing me as much as a small kid now. Had to get the thing braces to avoid have to extract 5 teeth due to a bite problem.

Cars and rent are my only big expenses, I still put away over 50% of my paycheck every month.

 

[Texasmade]

Right n

Double income, no kids...though my dog is costing me as much as a small kid now. Had to get the thing braces to avoid have to extract teeth due to a bite problem.

Cars and rent are my only big expenses, I still put away over 50% of my paycheck every month.

Single income, no kids, no pets. My big expense is mortgage and all the BS associated with home ownership.

After selling my C63S AMG, my car payment is only $300 (used Mini Cooper S). Once that Porsche comes in, that's going to be another $1300-$1400 in payments.

I feel like such a plebe with only a Mini in my garage.

 

[FPB]

I absolutely love my QV. Best car I have ever owned as far as balance between driving dynamics, practicality, power and uniqueness. I made mine so that it it always has the exhaust flaps open and it sounds beautiful (takes 30 min to do). I get loaner Maseratis when I bring it in for service and I'm always happy to get back in my car.

I added a video of the cold start with flaps open (before I blacked out my grille).

Ok, I'm tired of the "here's what I can afford to spend on a car, this is what others spend" discussion.

More videos like this please!

 

[tim_horton]

So today i was thinking about the VIP thing.
Why not wagons?
...
The Crown athlete sedan is a popular car.
Is i that no VIP ever rode in a wagon?

If I go with a 330i wagon, I will bippu it out.

 

[HRoi]

I've had company cars or car allowance since the 90's. I bought an Infinity FX35 from 07-10 where the car allowance made the payment & insurance. Company paid gas on top of that. Since 2010, I've been in Ford Edge's every 3-4 years. While boring as hell, it's nice to never worry about maintenance, insurance or gas on our primary family vehicle. Until I bought the GTI as a weekend car this summer, I literally hadn't paid for a tank of gas out of my own pocket in over 20 years.

Would be cool to crowdsource your next co car. Budget and brand partnerships permitting, I’d like to see you in something like a Civic Type R

 

[UnFacconable]

Got a little confused as to what’s being debated, but :

spending 20-25% of your annual income on a car (the whole thing)? Reasonable and maybe even slightly conservative in my view.

spending 20-25% on annual car payments ? Yeah that sounds high but could be justifiable if:
1. Cars are your transportation, hobby and recreation, so you have no problem using your budget for all three on the thing
2. The other 75-80% of your income is large enough. I can see how a $200k earner after tax can live on $150k and blow the rest on a car

Are you talking after tax or do people in Florida opt out of federal income tax?

First I would say we need to have some sort of mutual understanding of the salary range before making these sorts of normative determinations. For $50k to $250k salaries, I think we can have a healthy conversation. Once you get into the $1M+ range, some of these numbers get really weird. Taxes do factor in.

Within that salary range, while I wouldn't do it personally because I'm more financially conservative I do agree that spending perhaps 20% of your annual income on a car makes sense. This assumes you hold the car for a certain period of time because really I think it makes more sense to think about your annual car expense (including depreciation, maintenance, insurance). You aren't buying an asset you are buying an expense stream. You can think of it financially as leasing it from yourself. Cue @Piobaire for why he exclusively leases.

Obviously it depends on how important a car is to you and your income level and what your overall expense level is, but I would think vast majority of people should keep the annual expense no more than 5-8% of their gross income.

 

[patrick_b]

Would be cool to crowdsource your next co car. Budget and brand partnerships permitting, I’d like to see you in something like a Civic Type R

I like the way you think! I really don't need the capacity of a crossover so I'd happily do an AWD hatch or sedan. Throw some snows on it for the New England winters, I'd be happy as a clam.

I'm actually leaving my employer of 12 years to join a startup. New company delivers a spiffy 2021 Nissan Rogue next week while I wave goodbye to the 2017 Ford Edge. I checked out a Nissan dealer and found it's about the same size as the Ford, little better infotainment (due to model year) and the trim level has adaptive cruise but other than than that, I'm not expecting much.

 

[Texasmade]

I like the way you think! I really don't need the capacity of a crossover so I'd happily do an AWD hatch or sedan. Throw some snows on it for the New England winters, I'd be happy as a clam.

I'm actually leaving my employer of 12 years to join a startup. New company delivers a spiffy 2021 Nissan Rogue next week while I wave goodbye to the 2017 Ford Edge. I checked out a Nissan dealer and found it's about the same size as the Ford, little better infotainment (due to model year) and the trim level has adaptive cruise but other than than that, I'm not expecting much.

You should get a Volvo

 

[HRoi]

Are you talking after tax or do people in Florida opt out of federal income tax?

First I would say we need to have some sort of mutual understanding of the salary range before making these sorts of normative determinations. For $50k to $250k salaries, I think we can have a healthy conversation. Once you get into the $1M+ range, some of these numbers get really weird. Taxes do factor in.

Within that salary range, while I wouldn't do it personally because I'm more financially conservative I do agree that spending perhaps 20% of your annual income on a car makes sense. This assumes you hold the car for a certain period of time because really I think it makes more sense to think about your annual car expense (including depreciation, maintenance, insurance). You aren't buying an asset you are buying an expense stream. You can think of it financially as leasing it from yourself. Cue @Piobaire for why he exclusively leases.

Obviously it depends on how important a car is to you and your income level and what your overall expense level is, but I would think vast majority of people should keep the annual expense no more than 5-8% of their gross income.

i did sneak “after tax” in there at the end ☺️

 

[HRoi]

I like the way you think! I really don't need the capacity of a crossover so I'd happily do an AWD hatch or sedan. Throw some snows on it for the New England winters, I'd be happy as a clam.

I'm actually leaving my employer of 12 years to join a startup. New company delivers a spiffy 2021 Nissan Rogue next week while I wave goodbye to the 2017 Ford Edge. I checked out a Nissan dealer and found it's about the same size as the Ford, little better infotainment (due to model year) and the trim level has adaptive cruise but other than than that, I'm not expecting much.

Tbh I’m jealous of/wish I had a job that had a car allowance. Doesn’t matter if it’s a modest allowance, I want one on principle.

the US is the only market in my company that doesn’t provide one to management

 

[otc]

I like the way you think! I really don't need the capacity of a crossover so I'd happily do an AWD hatch or sedan. Throw some snows on it for the New England winters, I'd be happy as a clam.

I'm actually leaving my employer of 12 years to join a startup. New company delivers a spiffy 2021 Nissan Rogue next week while I wave goodbye to the 2017 Ford Edge. I checked out a Nissan dealer and found it's about the same size as the Ford, little better infotainment (due to model year) and the trim level has adaptive cruise but other than than that, I'm not expecting much.

While I haven't actually driven a 2021, I might be willing to say:

well maintained 2017 ford edge > 2021 nissan rogue.

 

[Patek]

Would be cool to crowdsource your next co car. Budget and brand partnerships permitting, I’d like to see you in something like a Civic Type R

That really is a car that the designers should have committed about 4000 less man-hours to designing. Just stop already, it doesn't need another crease, fold, or winglet!

I guess some people don't understand that less is more.

 

[patrick_b]

While I haven't actually driven a 2021, I might be willing to say:

well maintained 2017 ford edge > 2021 nissan rogue.

You may be on to something. I’ll let you know in a week.

 

[Thrift Vader]

I thought public school was free.



This started when I expressed shock that the average car buyer was spending half their income on a car ($80k average income/$40k average new car price) which with a 5 year loan means they are spending 10% of their gross income.

TV liked my post, but then said something like 'you should just spend your annual salary on a car every 4-5 years' which is obviously the equivalent of spending 20%+ of your gross income. The two things didn't jive, and now he just keeps rambling incoherently.

I liked your post because it made sense. The most i feel a person should spend on a car is around $10,000. That covers so many car options, and a majority of buyers.
Sure, people with the money can spend it. but that doesn't stop many people from living beyond their means. and being cash poor.

I wouldn't call tales of the people who tie up their money rambling.


This is a real social topic. how much percent people spend on their cars.
Mine was 7.5%
low mileage, still smelled like a new car. and it's almost perfect.