2007-01-17 19:39:59 · 3 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Don't you think you should be asking yourself this question instead?
2007-01-17 19:44:15 · answer #1 · answered by JADE 6 · 0⤊ 0⤋
For normal salaries (30k-150k), the sale price on the car should be less than or equal to 1/2 of your net after-tax yearly earnings. For extremely high salaries (over 150k/year), you should spend much less because you get diminishing returns with super expensive cars.
So for example: I make 75k/year gross and roughly 50k/year AFTER tax. The car i purchased was for 25k.
Although it is very tempting to spend more on a car, it is IMPORTANT not to! Cars are only "nice" for 5 years or so... After that they start to feel old and crappy. If you go way over budget and over-extend yourself to get an expensive Mercedes, it'll turn to **** in 5 years and you'll wish you hadn't splurged.
2007-01-20 17:54:47 · answer #2 · answered by ayehoss123 1 · 0⤊ 0⤋
Generally about 15% of your after-tax monthly income for total car expense.
Links below to calculators to determine what the overall cost are:
2007-01-18 10:32:46 · answer #3 · answered by luminous 4 · 0⤊ 0⤋