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So what percentage of your income is spent on car payments?
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04-07-2017, 06:50 PM | #67 | |
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04-07-2017, 07:01 PM | #68 | |
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I didn't know I couldn't do that. But I did know I couldn't do that.
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04-07-2017, 07:14 PM | #69 |
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04-07-2017, 08:59 PM | #70 |
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04-07-2017, 11:04 PM | #71 |
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0%. Paid cash. I hate debt.
(Yes I do have a mortgage though).
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04-08-2017, 12:47 AM | #72 | |
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04-08-2017, 06:11 AM | #73 |
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all paid for, just insurance, fuel and maintenance....I hate making car payments.
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04-08-2017, 07:03 AM | #74 |
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04-08-2017, 08:01 AM | #77 | ||
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Just make sure to at least put in enough to get the free employee contributions. At least that is my *opinion. *Insert fine print and leagleese language here including past performance is no guarantee of future outcomes.
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04-08-2017, 08:30 AM | #78 | |||
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04-08-2017, 08:40 AM | #79 | |||
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04-08-2017, 11:13 AM | #81 |
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04-08-2017, 11:30 AM | #82 |
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And that's before the money working for you in the investments. With my current employer, I didn't roll my previous 401k into it. I started with a fresh account. It's amazing how much money is in the account after working for the company just over 6 years. I max out the allowed annual contributions every year but there's no way I would have come anywhere near what the current balance is in the account without the company match.
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04-08-2017, 12:19 PM | #83 |
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04-08-2017, 12:25 PM | #84 |
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I originally said 0% but thinking about it I should revise it. I paid cash for my 2013 ATS in April of 2014 but company gives me an allowance of $350 a month plus 20 cents a mile. I plan on keeping it to the point that the resale value keeps me at $0 total cost for my daily driver.
It wouldn't be too hard to contribute some of my own money to drive a nicer car but I just don't see the point or care enough to do it.
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04-08-2017, 12:28 PM | #85 |
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Another stupid worthless thread where everyone justifies getting what they want when they want it, weather they can really afford it or not!
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04-08-2017, 12:35 PM | #86 |
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04-08-2017, 01:16 PM | #88 |
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I think for younger individuals who haven't had the luxury of time to build significant assets yet <10% gross income is a reasonable rule of thumb for car payments, but it's extremely arbitrary and ignores a whole host of variables that significantly change the equation.
Last edited by Benedict1957; 04-09-2017 at 12:30 AM.. |
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