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    View Poll Results: What is your avg car payment per car not including fuel, insurance, maintence.

    Voters
    313. You may not vote on this poll
    • $0 because they are paid off

      106 33.87%
    • $300 and Under

      34 10.86%
    • $301 -$600

      121 38.66%
    • $601 - $1000

      43 13.74%
    • $1001 +

      9 2.88%
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    Thread: What Is Your Average Monthly Car Payment? Please vote

    1. Member
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      09-14-2020 02:07 PM #101
      Quote Originally Posted by GreenandChrome View Post
      I don't want to give numbers to the wife because then I'll be driving a $200 s-box and she'll have something in the $1500/mo range.
      I don't give numbers to my wife cuz then I have to limit myself too and I'm more likely to waste more money.

      "you want to tart up an A220 to $50k? *shrug* Your funeral"

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    3. Geriatric Member absoluteczech's Avatar
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      09-14-2020 02:13 PM #102
      Quote Originally Posted by puma1552 View Post
      "you want to tart up an A220 to $50k? *shrug* Your funeral"
      wait, isnt that what you did though?

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      09-14-2020 02:29 PM #103
      Quote Originally Posted by absoluteczech View Post
      wait, isnt that what you did though?
      yup

      who was i to argue and tell her what she can and cant have or that she should spend 50 on a C class?

      She wanted what she wanted and she wanted a higher end small car with all the latest tech and design language (c-class is pretty damn old in and out at this point) so thats what it ended up being

      cant say i blame her, i typically will tart up a lesser car and get all the features i want rather than buy a class higher car and have to forego a bunch of stuff and get some sort of lease spec.

    5. Member johnny_p's Avatar
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      09-14-2020 02:30 PM #104
      Five hunnit
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    6. Member Karl_1340's Avatar
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      09-14-2020 03:20 PM #105
      The wife's RDX was bought cash, my Cadillac is $245 biweekly.

    7. Member Atl-Atl's Avatar
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      09-14-2020 03:22 PM #106
      Taco is $700 a month because it was nearly $40,000 damn dollars new. Planning to refi it after my new house purchase. HD is paid for. Blazer is paid for (sure as hell better be )

    8. Member AnchorsAweigh's Avatar
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      09-14-2020 03:55 PM #107
      My Supra is $796 a month. Put down just enough money at purchase to guarantee the 0% finance deal they were doing. No plans to pay it off early either with a 0% interest rate. Money would be better spent paying off my house or throwing it into my retirement accounts.

    9. Member iliveoncaffiene's Avatar
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      09-14-2020 03:58 PM #108
      Quote Originally Posted by Smooremin View Post
      This is very relevant to my life
      Yea well... outside of maybe Toaster (he's a serial Porsche buyer, though I don't pretend to know his financial situation) you and I may take the cake for most $$/mo. spent on a new car.
      Let's just say, if you added the next measure to the poll I might still be over it

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      09-14-2020 03:59 PM #109
      It’s all relative folks.

      I’d be interested in what percentage does your car payment represent of your take home pay. For you cash paying ballers, what percentage of your take home pay over 5 years does your car represent.

      I’ll show you yours if you show me mine.


      Sent from my iPhone using Tapatalk
      Rick

    11. Member The_Real_Stack's Avatar
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      09-14-2020 04:01 PM #110
      Quote Originally Posted by rickandshana View Post
      It’s all relative folks.

      I’d be interested in what percentage does your car payment represent of your take home pay. For you cash paying ballers, what percentage of your take home pay over 5 years does your car represent.

      I’ll show you yours if you show me mine.


      Sent from my iPhone using Tapatalk
      Even that’s not a good metric; like I said, 401k contributions, company stock investment plan, 529 savings, mutual fund investments, etc etc all come out before we get to “take home pay”.
      Quote Originally Posted by Volkl View Post
      My wife wanted a SUV with a manual transmission. I suggested a Wrangler, she said no way, too masculine

    12. Junior Member CSRPenFab's Avatar
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      09-14-2020 04:06 PM #111
      Mine is a hair over $1k a month for a 2019 Lexus GX460. I bought it when they were offering 0%. When the F&I guys asked "how much do you want to put down?", my reply is "ZERO". My money makes far more than 0% for me when I do other things with it. Yes, it's a high car payment, but I have the funds to make it monthly.

    13. Planters (fasciitis) peanuts. Dang dogg Sold Over Sticker's Avatar
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      09-14-2020 04:11 PM #112
      Quote Originally Posted by The_Real_Stack View Post
      Even that’s not a good metric; like I said, 401k contributions, company stock investment plan, 529 savings, mutual fund investments, etc etc all come out before we get to “take home pay”.
      Exactly. I can no save for the future and claim my car payments are super low, or I can make it look awful after everything else is said and done. Data. You can slice it how you like.

      Quote Originally Posted by puma1552 View Post
      I don't give numbers to my wife cuz then I have to limit myself too and I'm more likely to waste more money.

      "you want to tart up an A220 to $50k? *shrug* Your funeral"
      Damn, we're talking cars and this guy is living his best life.

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    14. Learning New Things Every Day. GreenandChrome's Avatar
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      09-14-2020 04:17 PM #113
      Quote Originally Posted by rickandshana View Post
      It’s all relative folks.

      I’d be interested in what percentage does your car payment represent of your take home pay. For you cash paying ballers, what percentage of your take home pay over 5 years does your car represent.

      I’ll show you yours if you show me mine.


      Sent from my iPhone using Tapatalk
      Gross, not net.

      Financial advisors not named Dave Ramsey say no more than 14% of gross should be towards a car payment. Iirc.
      "Excluding the possibility that a female Scandinavian Olympian was running around outside our house last night, what else might be a possibility?"
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      09-14-2020 04:18 PM #114

    16. Member 4.OMG's Avatar
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      09-14-2020 04:19 PM #115
      Quote Originally Posted by Sold Over Sticker View Post
      Exactly. I can no save for the future and claim my car payments are super low, or I can make it look awful after everything else is said and done. Data. You can slice it how you like.
      One could argue this isn't even a question of slicing and dicing the data but rather that the data set itself is fairly meaningless because it doesn't even differentiate between loans and leases. Loan Guy pays $1,000/month for X months but will own his car outright for as long as he wants to keep it. Lease Guy pays $500/month for Y months but then has to lease another car. If the goal was to measure how much money people spend on cars over some specific period of time, this data is basically useless.
      Now this was a superior machine. Ten grand worth of gimmicks and high-priced special effects. The rear windows lit up with a touch like frogs in a dynamite pond. The dashboard was full of esoteric lights and dials and meters that I would never understand.

    17. Turtles walk slowly, but get angry fast! Smooremin's Avatar
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      09-14-2020 04:31 PM #116
      Quote Originally Posted by GreenandChrome View Post
      Gross, not net.

      Financial advisors not named Dave Ramsey say no more than 14% of gross should be towards a car payment. Iirc.
      Looks like I am doing it right no matter that TFL says
      Quote Originally Posted by patrikman View Post
      Asking OT for relationship advice makes about as much sense as asking TCL what car to buy.
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      About 5 oclock I realized I needed to go to Costco for some white people stuff.

    18. Member
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      09-14-2020 04:33 PM #117
      Quote Originally Posted by Smooremin View Post
      Sell the kids
      Get nice cars
      ?????
      Profit?
      No joke. I had a $500/mo car payment before I had kids or a wife, but was earning almost half my current salary.
      Last edited by oidoglr; 09-14-2020 at 05:06 PM.

    19. Member The_Real_Stack's Avatar
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      09-14-2020 04:33 PM #118
      Quote Originally Posted by 4.OMG View Post
      One could argue this isn't even a question of slicing and dicing the data but rather that the data set itself is fairly meaningless because it doesn't even differentiate between loans and leases. Loan Guy pays $1,000/month for X months but will own his car outright for as long as he wants to keep it. Lease Guy pays $500/month for Y months but then has to lease another car. If the goal was to measure how much money people spend on cars over some specific period of time, this data is basically useless.
      And even then...my lease is a third car. I could just turn it back in and walk away. I can’t because 2 seater, but you I “could”.
      Quote Originally Posted by Volkl View Post
      My wife wanted a SUV with a manual transmission. I suggested a Wrangler, she said no way, too masculine

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      09-14-2020 04:39 PM #119
      Quote Originally Posted by Sold Over Sticker View Post

      Damn, we're talking cars and this guy is living his best life.

      50k what? Oz of Gold?

    21. Member Tommietank's Avatar
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      09-14-2020 04:50 PM #120
      Quote Originally Posted by GreenandChrome View Post
      Gross, not net.

      Financial advisors not named Dave Ramsey say no more than 14% of gross should be towards a car payment. Iirc.
      What does Dave Ramsey say?
      Slow Car Fast

    22. Member Nealric's Avatar
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      09-14-2020 04:52 PM #121
      Quote Originally Posted by GreenandChrome View Post
      Gross, not net.

      Financial advisors not named Dave Ramsey say no more than 14% of gross should be towards a car payment. Iirc.
      Any percentage recommendation can only be a very broad rule of thumb. There's a massive difference in affordability between having 5 kids and a non-working spouse and being a single person living in mom's basement at the same salary level. I could buy a brand new car every year with cash for what I spend on daycare for two kids. I'd be seriously overspending if I had car payments at 14% of my gross income.

      The problem with basing affordability on payments is that it gets people thinking in terms of monthly payments, when total cost of ownership is what they should be looking at. You can get monthly payments quite low with financial engineering, but that's a recipe for getting on the negative equity treadmill.

    23. Member The_Real_Stack's Avatar
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      09-14-2020 04:54 PM #122
      Quote Originally Posted by Tommietank View Post
      What does Dave Ramsey say?
      To sit in your house, hoard money and be miserable until you’re old rich and miserable.
      Quote Originally Posted by Volkl View Post
      My wife wanted a SUV with a manual transmission. I suggested a Wrangler, she said no way, too masculine

    24. Member 4.OMG's Avatar
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      09-14-2020 04:55 PM #123
      Quote Originally Posted by GreenandChrome View Post
      Gross, not net.

      Financial advisors not named Dave Ramsey say no more than 14% of gross should be towards a car payment. Iirc.
      That's nuts. I'm currently under 7% of gross and I already feel like it's a lot in the context of real life, where I pay taxes, other bills and need to keep some cash on hand for emergencies. I certainly have the income to pay twice what I do, but I don't feel like I could actually afford it.
      Now this was a superior machine. Ten grand worth of gimmicks and high-priced special effects. The rear windows lit up with a touch like frogs in a dynamite pond. The dashboard was full of esoteric lights and dials and meters that I would never understand.

    25. Member Nealric's Avatar
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      09-14-2020 05:00 PM #124
      Quote Originally Posted by The_Real_Stack View Post
      To sit in your house, hoard money and be miserable until you’re old rich and miserable.
      You are supposed to invest it all so that you can pay more 1.5% AUM fees to the financial advisors in his "network."

      Dave Ramsey is ok for folks who've gotten themselves into a serious debt emergency and have completely lost control of their finances. His approach to spending is like alcohol for serious alcoholics. Makes sense if you are a serious spendaholic, maybe not so much if you are on top of your finances.

    26. Geriatric Member absoluteczech's Avatar
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      09-14-2020 05:02 PM #125
      Quote Originally Posted by GreenandChrome View Post
      Gross, not net.

      Financial advisors not named Dave Ramsey say no more than 14% of gross should be towards a car payment. Iirc.
      14% gross? thats seems really high.

      youre saying if someone is making 100k a year gross then they shouldn't be paying more than $1,166 a month for a car payment? that's insanely high even for a 100k earner

      $583 for someone making 50k a year seems like a poor financial decision.

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