How much to spend on a car
Feb 24th 2007, 11:05 pm
#31
Account Closed
Joined: Jul 2004
Posts: 8,441
Re: How much to spend on a car
Hey Guys,
Just wondered what most people spent on a car as a % of their total money they took from the UK?
We are hopefully taking 100K (AU) and spending around 15-20K on a car but then we start to wonder if we are spending too much then we sway back thinking we would like a nice car that’s reasonably new and (hopefully) reliable.
Cheers
Just wondered what most people spent on a car as a % of their total money they took from the UK?
We are hopefully taking 100K (AU) and spending around 15-20K on a car but then we start to wonder if we are spending too much then we sway back thinking we would like a nice car that’s reasonably new and (hopefully) reliable.
Cheers
Background: As a previous self-confessed boy racer and car modifier (don't ask, I had too much disposible income and too little self-esteem) I have stopped spending big money on cars and now concentrate on reliability and safety (having a two year old to cart around the place).
If we needed to buy a car to unfortunately replace our faultless 7 year old Nissan Pulsar (gutless and reliable ... perfect for me) then we wouldn't spend more than $8000 and start at $5000 ... looking around I would imagine we could get something that would do a couple of hours commuting a day plus days trips pretty reliably.
Of course, other people may be lucky and get a pearl that cost next to nothing but that is the range I'd consider, personally ... your, er, mileage, may differ.
Cheers,
Matt
Feb 24th 2007, 11:17 pm
#32
Melbourne Australia
Joined: Feb 2006
Posts: 4,169
Re: How much to spend on a car
Most employers I guess but not all.
Your employer pays the lease payments and deducts the cost from your "Gross Pay" you then pay tax on the remaining income.
Example $1000 per month in lease payments ie $12,000 is paid by employer to lease company. Your Gross income is $100,000 less the $12,000 means you pay tax on the remaining $88,000.
The reason not all employers offer it is because they incur the 49%?? FBT tax.
Your employer pays the lease payments and deducts the cost from your "Gross Pay" you then pay tax on the remaining income.
Example $1000 per month in lease payments ie $12,000 is paid by employer to lease company. Your Gross income is $100,000 less the $12,000 means you pay tax on the remaining $88,000.
The reason not all employers offer it is because they incur the 49%?? FBT tax.
Feb 24th 2007, 11:47 pm
#33
BE Forum Addict
Joined: May 2006
Location: UTOPIA, QLD
Posts: 1,764
Re: How much to spend on a car
Hey Guys,
Just wondered what most people spent on a car as a % of their total money they took from the UK?
We are hopefully taking 100K (AU) and spending around 15-20K on a car but then we start to wonder if we are spending too much then we sway back thinking we would like a nice car that’s reasonably new and (hopefully) reliable.
Cheers
Just wondered what most people spent on a car as a % of their total money they took from the UK?
We are hopefully taking 100K (AU) and spending around 15-20K on a car but then we start to wonder if we are spending too much then we sway back thinking we would like a nice car that’s reasonably new and (hopefully) reliable.
Cheers
