Quote:
Originally Posted by GearRex
What’s the general guideline?
“Your car payment or payments, should not exceed 10%-15% of your net income.” To be comfortable I would say 10%.
But, as everyone says, is a question of priorities. If you are the type that always says “you only live once”, then everything goes.
I typically stay away from financial advice. Everyone has to live in their own truth. After all, it is YOUR LIFE.
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That 10-15% rule seems to be for non- enthusiasts who just get a commuter car. I agree it’s all about priorities. some people spend thousands on clothes, watches, jewelry, furniture, vacations, fine dining. For me it’s none of those, so a car is the only major thing I “splurge” on. At least that’s how I justify it to my wife.