Car Payments % Poll! - Page 4 - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
View Poll Results: What should your car payments be, as a percentage of your total income?
Less than 5% 11 31.43%
Between 5 and 10% 11 31.43%
10 - 15% 4 11.43%
15 - 20% 3 8.57%
20% and over 3 8.57%
Doesn't matter... get the car you want! 3 8.57%
Voters: 35. You may not vote on this poll

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post #31 of 38 (permalink) Old 06-01-2019, 01:48 PM
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Originally Posted by VWandDodge View Post
I forgot the other major factor related to the cost of vehicle ownership -- new cars cost more to insure than older vehicles. Plus, we did not take into account tag, tax, delivery charges, etc. The part about zero percent interest rates is all a gimmick, because there is no way dealers are willingly taking a hit so buyers can get a good deal.

My 2006 Mazda 3 hatchback costs less to insure and maintain over a five year period than if I were to go out today and purchase a brand new Mazda 3 hatchback. The money not spent can go into my various retirement accounts, because I am now leveraging the future value of my dollar.
Interesting viewpoint, funny thing though, it doesn't always hold true; the cost of insurance on our 2016 Mazda3 is actually lower than our 2006 Acura TL. In addition, the money I've put into the TL in the last two years since I bought it has worked out to almost exactly what the car payments on the Mazda have been.

2006 Acura TL 6-Speed Manual
2016 Mazda3 s GT 5-Door 6-Speed Manual
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post #32 of 38 (permalink) Old 06-01-2019, 03:36 PM
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A lot of Hondas and Acuras are considered theft magnets which is probably why the insurance is more.
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post #33 of 38 (permalink) Old 06-01-2019, 08:24 PM
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A lot of Hondas and Acuras are considered theft magnets which is probably why the insurance is more.
A 2006 TL vs. a 2016 Mazda3? Sorry, I don't think that explains it.

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post #34 of 38 (permalink) Old 06-03-2019, 09:56 PM
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Quote:
Originally Posted by shipo View Post
A 2006 TL vs. a 2016 Mazda3? Sorry, I don't think that explains it.
Um, it kind of does. Believe it or not, according to esurance the #1 stolen car in 2016 was the 1997 Honda Accord, #2 was the 1998 Honda Civic. Old Hondas are, indeed, theft magnets. They are also far easier to steal than newer cars with keyless ignitions. https://www.esurance.com/info/car/to...ly-stolen-cars Or perhaps it's because it's a sporty car with v6 power that is affordable and desirable by the young, "wanna-be street racer", crowd meaning it probably has a higher than average claim rate or higher payout per claim than other cars. Though I'm kind of getting off topic here.
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post #35 of 38 (permalink) Old 06-04-2019, 04:58 AM
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Nope, still doesn't explain it; the TL of any generation is nowhere to be found on any stolen car list. My bet is, even if they were just as easy to steal as their Accord counterparts, the demand for their parts is way-WAY lower than the Accord.

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post #36 of 38 (permalink) Old 06-13-2019, 08:48 PM
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Depends on how old you are. By late 20's or so you shouldn't have a car payment, unless you're getting a great rate from the manufacturer so you keep your money invested instead, but even then they will usually offer a rebate in place of the low interest rate that's better if you can do it. Save your money and wait to buy a new car until you can afford to pay cash. Then start saving for your next car. After 30 or so, you shouldn't have any debt except for a house payment.
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post #37 of 38 (permalink) Old 06-13-2019, 09:54 PM
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Who sets all of these rules of things folks "should" and "shouldn't" do? Personally I say everybody's situation is different; ain't no should or shouldn't about it; just do what's right for you.

2006 Acura TL 6-Speed Manual
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post #38 of 38 (permalink) Old 06-14-2019, 03:55 PM
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Well under 5% for both cars combined.


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