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09-28-2012, 06:49 AM
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#1 |
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Account Suspended
Drives: 2012 Camaro SS 45th Anniversary Edi Join Date: Nov 2011
Location: Rochester, New York
Posts: 523
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CAMARO COST VS INCOME
What percentage of total monthy car payment cost would you say is too much to spend VS total monthy house hold income ?
example: Joe spends 1/8 of his total monthy income on his car payment. I think that is........... What do you think???  I know this is relateive, but just looking for others opinion? |
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09-28-2012, 06:56 AM
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#2 |
  
Drives: 2012 Camaro 1SS/RS L99 Join Date: Sep 2012
Location: Wilmington. NC
Posts: 794
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should be less than 1/8 I would say. Ours (household) its like 1/12 and that was ALL I was willing to pay. 1/8 may be a good guideline Im just stingy, somwhere there abouts to be comfortable.
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09-28-2012, 06:57 AM
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#3 |
       
Drives: 2012 Camaro 2SS/RS Join Date: Jul 2010
Location: Cleveland, OH
Posts: 3,273
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Net or gross? I like to base everything on my net monthly income (the amount left after taxes). I was trying to figure out a budget a few years ago, and I read that 5-15% should be devoted toward debts (which I assume would include a car payment).
My car payment works out to be about 4% of my monthly net.
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09-28-2012, 06:59 AM
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#4 |
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Drives: 2012 Camaro 1SS/RS L99 Join Date: Sep 2012
Location: Wilmington. NC
Posts: 794
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Yeah i was talking net also
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09-28-2012, 07:03 AM
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#5 |
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Account Suspended
Drives: 2012 Camaro SS 45th Anniversary Edi Join Date: Nov 2011
Location: Rochester, New York
Posts: 523
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ok guys, lets say net. bring home money. now what say you?
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09-28-2012, 07:10 AM
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#6 |
Drives: 2011 Black SS M6 Join Date: Oct 2010
Location: Harpers Ferry, WV
Posts: 1,116
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09-28-2012, 07:10 AM
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#7 |
 
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I spent about 1/12 bring home on a car payment. But everyone is different. I have a hell-a-va mortgage. This Pie chart is pretty good
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09-28-2012, 07:13 AM
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#8 |
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Sellin Chevy's since '06
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banks allow 20% of gross income for financing...FYI
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09-28-2012, 07:14 AM
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#9 |
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Recalled user
Drives: '12 Camaro SS, '18 Colorado Z71 Join Date: Mar 2009
Location: Richmond, VA
Posts: 3,545
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Factor in the thousands Camaro5 makes you spend on mods.
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 2012 2SS 45th AE LS3 M6 Borla ATAK Catback Kooks Stepped LT Headers CAI Intake Hexvents VMAX CNC Ported Throttle Body RX Catch Can Hurst Short Throw Shifter Pfadt ZL-Spec Stage 3 Suspension Forgestar F14 Tuned by Frost |
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09-28-2012, 07:16 AM
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#10 |
  
Drives: 2017 Mosaic Bk ZL1 M6 Join Date: Jul 2009
Location: South of Raleigh, NC
Posts: 9,622
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Depends on how many years you want to spend paying it back. If you have no other debt than a mortgage, you can be more aggressive than 8-10%
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09-28-2012, 07:17 AM
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#11 | ||
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Drives: 2012 Camaro 1SS/RS L99 Join Date: Sep 2012
Location: Wilmington. NC
Posts: 794
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Quote:
Quote:
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09-28-2012, 07:18 AM
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#12 |
Drives: 2015 c7 Join Date: Nov 2009
Location: MI
Posts: 7,462
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car payments ? wtf is that ?
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09-28-2012, 07:19 AM
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#13 | |
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Drives: 2012 Camaro 1SS/RS L99 Join Date: Sep 2012
Location: Wilmington. NC
Posts: 794
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Quote:
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09-28-2012, 07:35 AM
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#14 |
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Account Suspended
Drives: 2012 Camaro SS 45th Anniversary Edi Join Date: Nov 2011
Location: Rochester, New York
Posts: 523
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I knew I would get this. Trolls or snobs. They are every where
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