I know it's sort of a personal question, but I would like to know how much percentage people spend on average on their cars compared to their salaries. Ask yourself this, how much did you buy your car for the first time you bought your car? And what was your annual salary then during that year you bought your car? Take those figures and work out the percentage of your current car's value the first time you bought it compared to the annual salary you received during that year (100%).
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Question of the Day: How do you normally pay for purchases in stores?
Your car is worth what percentage relative to your annual salary?
- Thread starter Sly21C
- Start date
Fazda
Honorary Master
Nice question 
.
My first car was one twelfth of my annual salary - one month's salary.
My last new car was R10 000 MORE than my annual salary at the time...very interesting!
.My first car was one twelfth of my annual salary - one month's salary.
My last new car was R10 000 MORE than my annual salary at the time...very interesting!
My car cost about 30 percent of my annual salary.
You will find that as people respond to this thread, many of them will admit their cars cost well in excess of their annual salaries - they are the people with the smooth tyres.
Some people also have cars that are bigger than their salaries and their own egos - you figure out who they are. (hint - read the news of last week.)
You will find that as people respond to this thread, many of them will admit their cars cost well in excess of their annual salaries - they are the people with the smooth tyres.
Some people also have cars that are bigger than their salaries and their own egos - you figure out who they are. (hint - read the news of last week.)
arf9999
MyBroadband Member
My car was worth 40% of my salary when I bought it... it's worth about 15% of my salary now, and I'm not earning that much more 
Fazda
Honorary Master
Re reading my post, it looks as if I am boasting about my last new car, quite the opposite, I am totally pissed off that I have to spend so much to drive a semi decent car on a teacher's salary! 
Jabberwocky
Expert Member
1st car - 90%, 120% with the problems it had.
current car 45%
current car 45%
First and only car I've bought so far (2nd hand Astra) was 100% of my annual salary back then, including the Christmas bonus. Now it's worth about a third/quarter of what I purchased it for (almost 6 years on). Sadly, I may need to put her down in the next few weeks/months 
adamr
Executive Member
Id rather like to look at it like this:
if you lost your job tomorrow. Could you settle you car debt easily?
If no it does not matter if you spent 10 percent or 100 percent on your car. You are f-arked either way.
Cause quite honestly a guy spending 100 percent on his car might be in a better financial position than the guy spending 10 percent. Its silly to look at finances in such a narrow fashion, need to consider your entire spend and liquidity as an individual (minus any other debt of course)
if you lost your job tomorrow. Could you settle you car debt easily?
If no it does not matter if you spent 10 percent or 100 percent on your car. You are f-arked either way.
Cause quite honestly a guy spending 100 percent on his car might be in a better financial position than the guy spending 10 percent. Its silly to look at finances in such a narrow fashion, need to consider your entire spend and liquidity as an individual (minus any other debt of course)
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ToxicBunny
Oi! Leave me out of this...
I tend to agree with adamr on this...
My car isn't a HUGE portion of my monthly salary... just over 20%.... BUT if everything goes south I should be able to settle it totally with very little effort.
My car isn't a HUGE portion of my monthly salary... just over 20%.... BUT if everything goes south I should be able to settle it totally with very little effort.
Fazda
Honorary Master
yup, well having been retrenched in December 2006, I was lucky enough tio be able to almost get my money back on my Yaris which I had bought 3 months before. I have now been reduced to my 1996 Fazda, which cost R12000, plus R3000 to get on the road..otherwise I would be walking.
P
Picard
Guest
Re reading my post, it looks as if I am boasting about my last new car, quite the opposite, I am totally pissed off that I have to spend so much to drive a semi decent car on a teacher's salary!
You're excused, I know what teachers get.
Bondizzo
Expert Member
15% of my annual salary.
Fazda
Honorary Master
marco79
Expert Member
First Car = 90% of annual salary
Current Car = 70% of annual salary when purchased
Current Car = now valued at 15% of current annual salary
Current Car = 70% of annual salary when purchased
Current Car = now valued at 15% of current annual salary
UtterNutter
Expert Member
You still didn't answer the OP's question!
UtterNutter
Expert Member
Current car bought for about 50% of annual "cost to company".
adamr
Executive Member
and i wont as that is basically telling you how much i earn ...
what i will say is my cars are paid for ...
so my spend on cars per month is 0% of my salary or business earnings ... i honestly dont even know what monthly repayments on my cars would be if i had financed them ...
EDIT: my first car was 100% of my annual salary (this was financed ... but i did sell the car for more than what i paid a year later of owning it
)
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