At what salary point would you replace your car

Mike Hoxbig said:
It's your money dude so you can do whatever you want with it.

Personally I wouldn't spend 30% of my salary on a car, irrespective of whether I'm saving 20% for retirement. I'd look at the bigger picture and consider all factors.

If I were your age, I'd be thinking that at some point I'd like to buy my own place - I mean it's difficult to fsck a chic if you're still staying with your mom, and having your own place is probably more of a turn-on than having a flashy car. And having your own place comes with it's own set of expenses apart from the bond - levies, rates, elec etc.

So if you do have money to spare after saving 20% for retirement, save the rest for a property deposit. And when you decide to buy, factor in the living expenses that go with it incl your bond repayments. Whatever is left of that can go towards a car...
Click to expand...

You never told me that last bit about the additional expenses :wtf:



:p




/furking levies
 
Bought my first car in my late 30's and it was the cheapest new one I could find. Before that I had two charity cars, a cheap motorbike and a bicycle - in that order.

Also bought myself a house.

Now on my second car at the age of 43 but this time I went 2nd hand and will keep it till it falls apart. Wife will only get a replacement car in three years as her 2006 Atos is still running 100%.
 
Cius said:
Still driving the tazz I was driving from when I first started working 12 years ago. We paid cash for it at the time and it is largely the reason I am in any kind of good financial shape. Cars destroy so much wealth in SA. I am almost debt free and after that I will consider upgrading it to something a little nicer, like a Honda Balade or Jazz or something.

Unless the car is costing you a lot in maintenance or is very unreliable and hence impacting on your job I would not recommend replacing it. If you do look for reliability and cost effectiveness.
Click to expand...

Agree 100%

The car I drive is no reflection of my income or wealth. It is safe, reliable and gets me to work the same time as my neighbours with their premium cars.
 
Get the meanest, fastest rear wheel drive 2 door car.
Drive it like you stole it.
If you survive the experience?

Awesome.

Once you are old you can't buy your youth.

Having owned a Porche, Mazda MX5 and 6. Nissan 350Z, Toyota MR2 turbo. BMW 330D and some quick scooters eg. 1100cc jobs.
The best fun was the MX5 followed by the MR2 turbo T-top import.
 
Last edited:
Spliffcat said:
Get the meanest, fastest rear wheel drive 2 door car.
Drive it like you stole it.
If you survive the experience?

Awesome.

Once you are old you can't buy your youth.

Having owned a Porche, Mazda MX5 and 6. Nissan 350Z, Toyota MR2 turbo. BMW 330D and some quick scooters eg. 1100cc jobs.
The best fun was the MX5 followed by the MR2 turbo T-top import.
Click to expand...

How fast was the Porche?

https://fr.wikipedia.org/wiki/Porche_(architecture)
 
cbrunsdonza said:
The car I drive is no reflection of my income or wealth.
Click to expand...

Ok so what you're saying is you're wealthy...

cbrunsdonza said:
Wife will only get a replacement car in three years as her 2006 Atos is still running 100%.
Click to expand...

But you make your wife drive a horrible piece of **** car with rather bad safety rating?

cbrunsdonza said:
It is safe, reliable and gets me to work the same time as my neighbours with their premium cars.
Click to expand...

Why don't you car pool with your neighbours if you work at the same place?
 
I haven't bought a car in 5 years and will never sell my current car. However, I am itching for a new M5 in a few years time, after I have bought a house.

As to the OP - my advice is to keep the current car until it become unreliable - or unless you are already saving like 20% of your salary and can afford to finance a new car.
 
I paid off my car last year and was tempted to buy a second hand Mazda MX5.

But man... I can't bring myself to part with that much money again. I'd have to take out a loan for probably R100k. It is just too much money.

I think I prefer not having a vehicle loan to owning an MX5.
 
Ancalagon said:
I paid off my car last year and was tempted to buy a second hand Mazda MX5.

But man... I can't bring myself to part with that much money again. I'd have to take out a loan for probably R100k. It is just too much money.

I think I prefer not having a vehicle loan to owning an MX5.
Click to expand...

I cannot second this statement :D
 
My car is 7 years old now, has 199k kilometers in mileage. I'm seriously considering buying a new car, probably a Toyota Etios. I don't like driving my car anymore.
 
saturnz said:
13 years ago a friend of mine bought a brand new golf 5 GTI for 250k, at the time I purchased a 1992 Opel Superboss for 30k cash

fast forward to now, a few years ago he sold his car for 150k, highly upset that he "lost" 100k, my Superboss I haven't driven in years has at the very least maintained its value (if you can find a superboss for 30k today)- I doubt I will sell it or ever have the need to sell it.
Click to expand...

everybody missed this - go and buy a COTY opel monza 1991! now!
 
My advice: Unless it's a business expense, never buy a car on credit. If you can't pay cash for a depreciating asset you're not managing your finances correctly and/or you're buying beyond your means. Save. Buy function. Later, when you're established, you can buy the Lambo for cash, if that's what you want.
 
In my mind a car should never cost more than 15% of your take home.

And that includes insurance and maintenance.

Whether you are putting that money away saving for it or taking a loan to finance it really comes down to much the same and therefore it irrelevant.

It's about not overextending yourself.

Buying a car cash can be equally stupid sometimes.
 
I highly doubt a person who really loves cars and the latest tech is going to keep their car for more than 10 years or until it's going to break.
 
Sly21C said:
My car is 7 years old now, has 199k kilometers in mileage. I'm seriously considering buying a new car, probably a Toyota Etios. I don't like driving my car anymore.
Click to expand...

You don't like driving your current car, but you think you'll like driving an Etios?
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X