5oneanddone
Dryer sheet wannabe
Last car I bought was a new 2009 Honda Fit. ~40 MPG and a butt load of room. bought it for 12K with a turn in of a minivan in the gubmint's cash for clunkers program.
I been advised I spent too much on my car and curious what people on this board have spent on cars.
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Some bold assumptions, especially for a newbie, but I hope the thread serves your purpose.i can't help but sense some negativity from your responses. if this thread raises your blood pressure, i suggest you not participate and create a new thread about homes, boats, vacations, collectibles, and toys.
if i have misunderstood your intentions i apologize.
the point of this thread is to create a discussion and to obtain an understanding of how much money people allocate to cars. i do not want to be in your situation where i end up with more money than i can spend. i would like to balance my present finances with my future finances.
i do not want to be in your situation where i end up with more money than i can spend.
In my younger days right out of college, I had to have the cherry red Iroc Z28 with the t tops and louver. Damn did I love that car and the girls I could catch with that. But after about 3 years of realizing almost half of my net income was going to that car whether by payments, gas, insurance, or taxes, I realized the thrill was gone. Now that I am at the point of my life where I can easily afford a brand new one, I ironically find that I have the oldest car I have ever had in my life. 11 years old with over 180k on it and wont consider trading until it doesn't run. I don't want the auto companies in my wallet, I don't want the insurance company in my wallet, and I don't want the government tax collector in my wallet. But to each his own. I certainly can't fault you as I once was like that, but if the allure to retire early starts to pull at you harder, be prepared to suddenly change your view point on what type of car you like!
I figured 40s is out of the question. push back to 50s. still saving my 10%.
I think this is the portion that you would want to benchmark. I think most people that FIRE save far more than this (me included - ~30-35%, and I make a comfortable six figure income).
I been advised I spent too much on my car and curious what people on this board have spent on cars.
I spent approx 50% of my gross on a Lexus.
People here have advised me to downgrade based on my goal to retire young. After driving a Lexus I still plan on sticking with luxury cars. This will delay my goal. But it is a personal choice.
Where is that "debt rock?"Model of our cars?
"Paid for" ...
Salary? Ain't got no stinkin salary (living off our retirement investments) ...
BTW, my/DW's cars"? We paid cash. That can't be computed against any "salary" (retired or not)...
Our goal? To remain frugal (OK, cheap ).