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| The Pub For General Automotive Related Talk |
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07-08-2006, 08:22 PM
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FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 723
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Ok guys, I really need some advice here. I have recently got myself into a company commodore through the joys of an operating lease, one hitch it had to be a holden so I got myself a VZ exec with a few ks on the clock to see if I really disliked them as much as I thought I would, that way I can hand it back without having to keep it for 4 years.
Sure or enough, I already want to hand it back and it's only been a month which leads me to my next question, what percentage of your monthly pay should you spend on your car, I am also trying to save for a house. So for those people out there who are saving or paying off a house, how much would you spend on your car (percentage wise) per month? Including petrol, finance, insurance, rego etc etc. The commodore with unlimited petrol, costs me around 20%, the car I really want is going to cost me probably 30-35% (BA XR6 T or XR8) Do I bite the bullet and stick with the exec or stop being a nancy and pay the extra?
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SZ Territory Titanium |
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07-08-2006, 08:28 PM
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Regular Member
Join Date: Apr 2006
Posts: 88
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Gees, that's a hard question to answer - it's just so influenced by so many factors. Let me think for a while...
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Neo BFII Typhoon... auto, tints, mats, performance exhaust, very happy driver. :1syellow1 |
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07-08-2006, 08:31 PM
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Paint Repairs Spoilers
Join Date: Oct 2005
Posts: 476
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much as i hate holdens the only advise i can offer is to spend as little as possible.
The only thing worth getting into debt for is an asset and then only one that will appreciate faster than the interest charged Do what you can about your home, Cars are a liability PS should have bought an AU3 dirt cheap and relaible  :
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Tyre smoke - nah must be smoke from the running in oil / Sorry officer, just put some tyre shine, did not think it would do that. Unfit - How could I be, always running off at the mouth and jumping to conclusions |
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07-08-2006, 08:36 PM
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FF.Com.Au Hardcore
Join Date: Jul 2006
Location: Gren A Waverrey
Posts: 2,364
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I personally believe that although the Fords are a preferred option in terms of a driving experience, from a financial and investment point of view, it is far better to save up for a house.
Over time on average, house prices increase. As a result, the longer you take to get into the housing market, the more expensive it will be to get into it. A car is among the worst investments you can make. An ordinary car is guaranteed to depreciate and they continually cost money with no real benefit, due to the fact that its value will go down. Personally, a car with free petrol costing only 20%...keep it. Petrol, being at a premium at the moment would drain your earnings more than the 20% you are currently paying. A house IMO is a far better option. But it comes down to personal preference and what is more important to you. |
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07-08-2006, 08:37 PM
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FF.Com.Au Hardcore
 
Join Date: Dec 2004
Posts: 12,083
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I've always found that if you take yoru Gross annual income and halve it, thats how much you can spend on a car and stay well and truely out of trouble. Always worked for me. (Damn, that F6 is getting a little closer these days now that I think of it
 : )
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Older, wiser, poorer. Now in Euro-Trash. VW Coupe V6 4motion.
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07-08-2006, 08:40 PM
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NOT A TOYOTA :/
Join Date: Jan 2005
Location: Eastern Suburbs, Melb
Posts: 2,554
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pfft... if I spent that much on my car per year it would be a monster. Given that I don't have any repayments on it and dont pay for fuel. *giggle*
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06 Land Managed to remain in the v8 fraternity |
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08-08-2006, 02:52 PM
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XR5 Pilot
Join Date: Dec 2004
Location: Perth, Ex NSW
Posts: 1,455
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I'm on the Market for a car soon and I was talking to one of the managers today...he offered me his 95 BMW M3 for 28K...He immediately had my attention until
I asked him about running costs.... Regular Service: $600 Brakes: : $1500 Clutch : $2500 And thats not even including Insurance, Fuel and Tires... *shudders*
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'08 Ford Mondeo XR5 in Thunder |
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08-08-2006, 02:59 PM
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Banned
Join Date: Dec 2004
Location: Livin On The Edge
Posts: 7,354
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Quote:
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08-08-2006, 03:08 PM
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Banned
Join Date: Dec 2004
Location: Livin On The Edge
Posts: 7,354
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In all honesty this is a question only you can answer, how soon do you want a house or how bad do you want that car.
As most have said a house is more important, but isn't anywhere near as fun. When i first bought my my MKII xr8 i needed to borrow money but i didn't want to pay more than $2oo a week off over 4 year's, at the time that was close to 1/2 of my weekly pay but i didn't have any other expeses either. |
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08-08-2006, 08:01 PM
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FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 723
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Thanks for the suggestions guys, Casper I like your theory
 Although I think I will stick with holden for a little while.
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SZ Territory Titanium |
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How much should you spend on a car (per month)? Advice please
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