[Aaaaaaaaa]

.

[jmg]

< 8% gross for three cars not including insurance. One car paid off, the other financed, the F80 leased. All claimed as a tax deduction under my corporation. I pay double on my financed car to pay it off faster.

Edit: added some details on lease vs financed

[Flacht3]

3% of gross.

Loan. 6 year term (5 remaining).

Should probably clarify if that's towards a lease or a loan, no? Terms might help too if you're trying to make comparisons.

[Rberthelot]

<3%

[DAJAN_M3]

10%

[RickFLM4]

I shoot for 5-7% of gross for 2 cars (mine and my wife). Self-employed so sometimes I am over or under. Her car is paid off so that helps.

Edit: 5-7% is before tax deduction I take for business use of M4, which is leased.

[bgomesm4]

10% right now

However, my insurance rates are insane = / thats another 6% right there lol

[Aaaaaaaaa]

Originally Posted by ItIsChrisM

3% of gross.

Loan. 6 year term (5 remaining).

Should probably clarify if that's towards a lease or a loan, no? Terms might help too if you're trying to make comparisons.

Yea that makes sense. Please specify lease or purchase.

[RickFLM4]

Originally Posted by pheerix

Yea that makes sense. Please specify lease or purchase.

Well if purchase / finance then part of the downpayment should get factored in...

[JibSTir13]

Should also account for how much money was put down.

[jmg]

Originally Posted by RickFLM4

Well if purchase / finance then part of the downpayment should get factored in...

Ideally you want to calculate total cost over the life of the loan vs your gross income over that same time. Depends what the OP is looking to gleam for this information I guess.

[SakhirM4]

0% - both my cars are paid for.

[trey100]

Originally Posted by SakhirM4

0% - both my cars are paid for.

Exactly why this doesn't work unless you ask it differently. What % of your gross income do you spend on car costs over the time of ownership. So paying off 2 80k cars that you own for say 5 years and then sell for $40k each means you spent 80k over 5 years. That divided by your gross should. E what everyone calculates.

My cars are typically about 3-4% of gross taken that way.

[Jaymax85]

4.9 percent of net
M4 paid off
Macan finance
340 lease

[MMMCOOKIES55]

6% total with my wife's ATS-V, My M3 ZCP and the Macan, two of which are paid off (ATS-V is a lease).

[Aaaaaaaaa]

Haha guess I should be more specific. I'm more interested in people leasing. Excluding the initial MSDs and "reasonable" down payment, what is the percentage of your post-tax (take home) income is your monthly payment including tax. Exclude insurance and gas expenses. Thanks.

[Iowa 73]

I pay cash, so not relevant. I do spend too much money on vehicles though...

[mercedesc63]

Originally Posted by pheerix

Someone told me start a new thread so I did.

Lol your not a real car guy unless a significant amount is spent on cars doesn't matter if it's a month or year

[CosmosMpower]

stupid thread

[CosmosMpower]

Originally Posted by ItIsChrisM

3% of gross.

Loan. 6 year term (5 remaining).

Should probably clarify if that's towards a lease or a loan, no? Terms might help too if you're trying to make comparisons.

Assuming 0% down and a 80k MSRP M4, you make 460K a year if a 1150 dollar payment is 3% of your gross income. Why are you driving a M4? And better yet why are you making payments for 72 months on it? WTF?

[Aaaaaaaaa]

Originally Posted by CosmosMpower

stupid thread

Well better than watching CNN isn't it?

[1stm235i]

Originally Posted by SakhirM4

0% - both my cars are paid for.

Lucky you