What percentage of your Salary is your car payment?

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phiber

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Hi Guys,

I am looking to buy a car, but I don't really know how much to spend. I want to know what percentage of your salaries do you spend monthly on your car (this is payment + insurance and not including gas). I know people get touchy when salaries are talked about, and I respect this but that why I am looking for a general percentage. I know what my expenses are, and what I can spare, but I don't want to over do it either. Just want to get a general feel of what people spend on their cars.
 
I'm also buying a new car at the moment - repayments and insurance premiums work out to about 5% of my salary but I'm not financing the full value of the car...
 
Before Feb this year- committed to pay about 15% but was paying about 25%

Since Feb- infinity. But I think I've found another job at last.......
 
Just under 20%
Damn either you guys earn alot or drive crap cars...:p
 
citi golf + 1400 bakkie = 28% of net
 
Last edited:
If your fiinances were handled correctly when you bought the car, and you didn't fiddle with actual figures when you gave them to the finance house, they should not exceed 25% of your salary.

There are ways of increasing it, but that usually involves finding money from fictitious quarters, such as renting out you granny cottage, or quoting your "Cost to Company" salary which is considerably higher than the pittance that ends up in your account at the end of the month.
 
Fazda said:
If your fiinances were handled correctly when you bought the car, and you didn't fiddle with actual figures when you gave them to the finance house, they should not exceed 25% of your salary.

There are ways of increasing it, but that usually involves finding money from fictitious quarters, such as renting out you granny cottage, or quoting your "Cost to Company" salary which is considerably higher than the pittance that ends up in your account at the end of the month.
Click to expand...

Not 100% correct.

I'm married in community of property. The assessment was done with both our salaries. (My wife earns about 2x my salary) And the 25-30% is on my Salary only. More like about 8% our combined income.

If someone says 50% of their income doesn't mean they cheated the NCA it just means that it's on his salary as he pays for it but they might have a combined income ;)

If this actually makes any sense :D
 
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