How much is your net; How much your car payment? (car payments, purchase)

[Returning2USA]

OK folks,

We have a great thread noting "Dave Ramsey" and the Million bucks.

Let's bring it down to more realistic levels for most of us. Most of us don't have a net worth of a million dollars.

Please tell us (single or married) your:

Net income over the year (not gross).

How much you paid for your car or truck:

How much your monthly payment is:



Discuss:




http://www.youtube.com/watch?v=kbftLWeaRMQ

[pknopp]

IMO, it's not really anyone else's business and people lie.

[Returning2USA]

Originally Posted by pknopp

IMO, it's not really anyone else's business and people lie.

It's no one else's business, but it's a voluntary question.

And yes, some people lie (because they are stupid).

[Willamette City]

Originally Posted by pknopp

IMO, it's not really anyone else's business and people lie.

It's City-Data for god's sake! It's a "Discussion" Forum. People discuss things.

You get that, right?

Net income: 53K per year.

Car purchase price $34K

Monthly payment: $412

[Returning2USA]

Originally Posted by Willamette City

It's City-Data for god's sake! It's a "Discussion" Forum. People discuss things.

You get that, right?

Net income: 53K per year.

Car purchase price $34K

Monthly payment: $412

Thank you for sharing, Willamette City.

[Checkered24]

Our combined net is in the $80K/yr range (+/- $10K depending on overtime levels)


Total of car payments across three cars (a 2004 bought for $11K , a 2016 with an MSRP of $39K, and a 2017 with an MSRP of $39K all bought within the past 26 months) $500/mo for 48 months.


That payment was taken, and is kept due to the loan being at 0%.

[pknopp]

Originally Posted by Willamette City

It's City-Data for god's sake! It's a "Discussion" Forum. People discuss things.

I discussed what I thought.

[Checkered24]

Originally Posted by pknopp

I discussed what I thought.

Like the Dave Ramsey thread, this too is not nearly enough information to really draw conclusions from in specific situations anyway. Just as net worth is not the single factor in someone's financial well being and ability to afford a depreciating asset, neither is net yearly income.


How much someone can truly afford, and should be willing to spend is depending on the person's complete financial picture, and financial goals.

[notnamed]

Car payment is 8% of net take home(including 401k/Roth being maxed).

[pknopp]

Originally Posted by Checkered24

Like the Dave Ramsey thread, this too is not nearly enough information to really draw conclusions from in specific situations anyway. Just as net worth is not the single factor in someone's financial well being and ability to afford a depreciating asset, neither is net yearly income.


How much someone can truly afford, and should be willing to spend is depending on the person's complete financial picture, and financial goals.

Sure I absolutely agree, I could have a net income of 50k with $5 million under the mattress.