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Car value to income ratio

RobAMerc · 2007-12-05 13:39:17

ok, I am always wondering, how much would I have to be getting paid before I could afford to buy a Ferrari. This got me thinking - Is there an average car value to income ratio ? eg - car is worth about 10k earn 50k p/a = 20% I am not asking anyone to disclose any details about the cars value or their income a simple %age…

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#32 05-12-2007 9:41pm
colm_mcm

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around 10%. (hard to know as both figures fluctuate!)

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#33 05-12-2007 10:14pm
littlejukka

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6% or so. piece of poo.

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#34 05-12-2007 10:15pm
testicle

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barryfitz wrote: »

Ha! I wish! Thats my dads on adverts.

Does he know?

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#35 05-12-2007 10:34pm
drdre

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testicle wrote: »

Does he know?

ahhaha

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#36 05-12-2007 10:36pm
drdre

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JohnCleary wrote: »

And you spend it on a car? Gobsh1te :rolleyes:

How do you afford to keep it on the road - Daddys boy are ya?

Last car was about 20% .... before VRT

No i have been working since i was 14 in my fathers business and i have taken around 2 month off due to college exams.I like my cars so i spend my money on them, never drink, no drugs and dont smoke so i have saved alot as i dont have those hobbies.

Im not a daddies boy.I found a VERY cheap 07 GTI so couldnt say not to the oppourtunity of a car i always wanted as a kid.

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#37 05-12-2007 10:36pm
Rowley Birkin QC

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Combine this thread with this thread and some spare time and you got yourself the first annual boards.ie motors thread Rich List.

For the record mine is about 35%, but I'm a mangy student.

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#38 05-12-2007 10:42pm
TripleAce

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2% - Hopefully will go down to 1.5% next year

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#39 05-12-2007 10:47pm
Gran Hermano

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10%

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#40 05-12-2007 10:48pm
Cassiel

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If I were ever to buy a new car, I'd figure on a years wages as my limit. With payback over five years, DIY calculation that, don't need reminding of interest etc.

But in the real world, car/salary is about 30%

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#41 05-12-2007 10:53pm
stepbar

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About 7% of my gross salary.

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#42 05-12-2007 11:13pm
Webmonkey

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~200% actually

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#43 05-12-2007 11:36pm
NiSmO

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This post has been deleted.

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#44 05-12-2007 11:41pm
sesswhat

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NiSmO wrote: »

This post has been deleted.

Nor do half the car owners in this country. The question is about your income

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#45 06-12-2007 1:10am
Pherekydes

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100% for me, too.

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#46 06-12-2007 1:27am
ninty9er

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I'd be reckoning that it was about 18-20% last year, but now that I'm relaxing a bit more between lectures About 65-70%

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#47 06-12-2007 1:41am
ArphaRima

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50%. But saved loads, and will only have loan for 30% of salary. Should have it paid off in just about a year too (pay rise etc..)

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#48 06-12-2007 10:07am
barryfitz

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testicle wrote: »

Does he know?

Not unless hes a Boardsie!!:D:D:D

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#49 06-12-2007 11:12am
Turbulent Bill

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Slow coach wrote: »

100% for me, too.

If you've no income, shouldn't this go to infinity? Anyone on the Maths forum could tell you that :).

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#50 06-12-2007 11:40am
bman

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5%, just started a new job though so I'll probably be upgrading soon to about 15% (as long as i pass my driving test, damn insurance!).

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#51 06-12-2007 12:00pm
Gran Hermano

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On a semi-related side note

Insurance: 0.75% of gross salary - they joys of being an older git

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#52 06-12-2007 12:07pm
earlyevening

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3% Cars are a waste of money.

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#53 06-12-2007 12:12pm
RobAMerc

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earlyevening wrote: »

3% Cars are a waste of money.

You do realize this is the motoring forum not the knitting forum right ?

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#54 06-12-2007 1:51pm
Pherekydes

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Turbulent Bill wrote: »

If you've no income, shouldn't this go to infinity? Anyone on the Maths forum could tell you that :).

And anyone at all could calculate x/x = 100%, even me.

Or, working backwards, if 100% is the answer, then the value of the car equals the annual income. Surely you don't have a problem with this simple piece of deductive logic?

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#55 06-12-2007 2:14pm
High&Low

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Mine was 20% of my gross salary when I bought it in May this year, but seeing as I'll keep it for 2 or 3 years, what I spend on my car in terms of what I earn is less than 10%

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#56 06-12-2007 2:27pm
omega man

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58% :eek: own it outright though

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#57 06-12-2007 2:51pm
Turbulent Bill

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Slow coach wrote: »

And anyone at all could calculate x/x = 100%, even me.

Or, working backwards, if 100% is the answer, then the value of the car equals the annual income. Surely you don't have a problem with this simple piece of deductive logic?

I assumed, like NiSmo's post just above your original one, that you had no income (and stated this in my post) - my bad. Anyway, you're right, he's wrong, let's all be happy.

Back on topic, about 5% for me.

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#58 06-12-2007 2:52pm
Woofer

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14%

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