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What % of disposable income to spend on car?
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mrsmortgage
Posts: 486 Forumite
in Motoring
What % of disposable income is a sensible amount to spend on a car? Taking into consideration that this car is also considered a hobby of sorts.
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If the income is truly disposable what's to stop you from spending 100% on a car?I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Ahm... Nothing I guess? Just trying to be sensible with money
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depends - is the car being bought from new with the intention of running it until it dies, or would you be buying a new one every few years when something new and shiny comes along?
Factor in how much upkeep each will cost (insurance/service etc), if you use all your disposable incoming you wont be able to afford any of those....0 -
Broadly... It would be 25% of the disposable income. Insurance and maintenance has been included in that.0
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Oh and forgot to add it would be a lease.0
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What’s disposable income to you? Officially is just income after tax.12 years ago I spent 40% ish of annual family income on a new car, I’ve just put a deposit down to spend 60% on its replacement. The first was £16k the new £47k0
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It's after tax, mortgage, groceries, childcare, subscription, insurance, savings, etc..0
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That would be £0, all spare money goes to savings.0
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Not in our house!MX5huggy said:That would be £0, all spare money goes to savings.0 -
Might be worth checking what's available. Supply of new vehicles is somewhat restricted.0
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