Wealth, income and affordability poll

[1ster]

Originally Posted by Khobin~

Don't forget

6) How much they really paid for that car...i.e. "I paid invoice for my <insert car>"

:respekt:

And 7) How long their commute is.

[Brandon26pdx]

Originally Posted by Khobin~

Don't forget

6) How much they really paid for that car...i.e. "I paid invoice for my <insert car>"

Oh yeah, that's a good one too.:roundel:

[Brandon26pdx]

Is everyone voting for their own personal annual income, or are these results skewed higher because of "combined" or "household" figures?

[Nixon]

Originally Posted by hector

if you're interested i'll tell you how you can eat for 25 cents/day.:biggrin:

does it involve Sally Struthers?

[gimme135]

Originally Posted by TESLAASTRO

you expect otherwise?the cloak of anonymity often does not supercede the effect of testosterone which coarses through our veins.... agreed, its an interesting poll .......

I don't expect anything. I only have observations and (hopefully) good reasoning. But to believe that coursing testosterone (and the primal urges to act on it) would triumph over an understanding of the safety of anonymity is again putting the cloak of "man" over an adolescent boy!

Basically it's up to each respondent to weigh the benefits of offering a skewed vote (or a shrill reply) against the hopefully interesting poll data gleaned from plain simple easy facts. Either way, there's always a 5-10% error or whatever, while at the same time these forums can hardly draw a true sample of the 1-series buyer pool.

Originally Posted by Casius

...I'd love to hear at how many of the people making 100k+ are looking at the 1series as a second car...

Well my vantage point might be as peculiar as the 1's niche. I've been wanting to get the E46 for so long (financially no problem), but I've never really felt my lifestyle suits it (as I drive a Triton V10 on a daily basis). So as I wind down these years with less use of the hunkster, I'm hoping for a primary car, not a second vehicle. My displeasure with the E92 styling is equaled by the 1's "improvement" over the E46 in seemingly every way. It'll be sort of an early semi-retirement gift for myself. :headbang:

[mkiiieustyle]

i'm a tech for toyota, #2 tech for my team, i'm at for this year 49k i should be looking at around 57k before the year is done, next year i should be in the 60-65k range easy. oh yeah i'm moving up from a mk3 jetta vr6.....

[TESLAASTRO]

Originally Posted by Brandon26pdx

Is everyone voting for their own personal annual income, or are these results skewed higher because of "combined" or "household" figures?

it really should be household...thats all that should matter

[TESLAASTRO]

According to my previous posts about affordability, 47 out of 70 participating so far in this poll dont have the income to buy a 135....

here it comes

[TESLAASTRO]

Originally Posted by Casius

I'm actually surprised at how many '100k-ers' are looking at getting the 1series.

What sort of car do you think is befitting someone earning between 100-150k?.....

[mkiiieustyle]

Originally Posted by TESLAASTRO

According to my previous posts about affordability, 47 out of 70 participating so far in this poll dont have the income to buy a 135....

here it comes

at what point is a 1 series not affordable? a person making 100k per year will more inlikely have a HUGE mortgage more than one car and a family. a person who is makin below or at 30k a year could be 20yr old virgin living with there parents for free can buy the 1 series if there not paying any other bills like utilites, mortage etc really affordability comes down to the individual person and there bills.

[mkiiieustyle]

oh and if it's house hold income then i should be knocking on the 90k door.

[Brandon26pdx]

Originally Posted by TESLAASTRO

According to my previous posts about affordability, 47 out of 70 participating so far in this poll dont have the income to buy a 135....

here it comes

Affordability is a squishy concept if there ever was one. I hesitate to even attempt to define it.

[mlevere1988]

Originally Posted by TESLAASTRO

it really should be household...thats all that should matter

I originally voted with just my perosnal income, which is 80-100 but the total household is 100-150. Well within your 'guidelines' I still won't pay over $40k for a car though.

[Garrett]

Interesting... more than 50% of then people on this board make over $70k.

Makes you wonder who was saying this cars direct competitor was the EVO/STi ..?

[WolfsburgerMitFries]

Originally Posted by Nixon

does it involve Sally Struthers?

Hahahahahahahahaha.....

[TESLAASTRO]

Originally Posted by mkiiieustyle

a person who is makin below or at 30k a year could be 20yr old virgin living with there parents for free can buy the 1 series if there not paying any other bills like utilites, mortage etc really affordability comes down to the individual person and there bills.

You'd think a 20 year old virgin living at home with mom and dad yet making 30k would have other things on their mind than a 1 series

1) moving out
2) losing virginity

[TESLAASTRO]

Originally Posted by mlevere92

I originally voted with just my perosnal income, which is 80-100 but the total household is 100-150. Well within your 'guidelines' I still won't pay over $40k for a car though.

f----in A brother.....not my guidelines though.....actually financial people who are smarter than I'll ever be......

[TESLAASTRO]

Originally Posted by Brandon26pdx

Affordability is a squishy concept if there ever was one. I hesitate to even attempt to define it.

actually very easy - cost of car(or financed amount) < or = to 25% of gross household income

[kamakazitp]

Originally Posted by TESLAASTRO

actually very easy - cost of car(or financed amount) < or = to 25% of gross household income

this is a sweeping generalization. what if I've just paid off my house? what if my job and my spouses both provide company cars and we're looking for a weekend/pleasure car? kids just moved out? etc.

its a good generalization, but thats really all it is. if its 26% of my income, I shouldnt buy it? what if I'm getting a great deal on the car (ie 8k discounts on z4s)? would it be worth stretching 1k on the price to prevent being unhappy for the entire life of my next car because I didn't get the auto that I REALLY wanted.

affordability is simply how much YOU are willing to pay for a car and can continue to make the payments. if its 50% of your salary and you have to give up double-ply toilet paper, eat out less, and rent a smaller apartment, so be it, as long as thats what you want.

[TESLAASTRO]

Originally Posted by kamakazitp

this is a sweeping generalization. what if I've just paid off my house? what if my job and my spouses both provide company cars and we're looking for a weekend/pleasure car? kids just moved out? etc.

its a good generalization, but thats really all it is. if its 26% of my income, I shouldnt buy it? what if I'm getting a great deal on the car (ie 8k discounts on z4s)? would it be worth stretching 1k on the price to prevent being unhappy for the entire life of my next car because I didn't get the auto that I REALLY wanted.

affordability is simply how much YOU are willing to pay for a car and can continue to make the payments. if its 50% of your salary and you have to give up double-ply toilet paper, eat out less, and rent a smaller apartment, so be it, as long as thats what you want.

No, 25% is a guideline, not a rigid reality....doesnt matter what your expenses are though, since those are ever changing, emergencies happen....the roof could cave in, requiring 30k for a new one.....your what ifs are not reality based......of course anyone can do whatever they want, and Lord knows they do.....however, regardless of monthly expenses, buying a car that is, for example, 50% of ones gross household income is exceptionally irresponsible.....to put it plainly, it is 'mortgaging your future'.....Sure, you may be making your payments, but something has to give, and since the younger the buyer,statistically the more the % of income will be spent, it will probably be the 401k, the IRA, the life insurance, the college fund, and the 3-6 month emergency fund that suffers....afterall, you think you're going to live forever ..no, you'll never lose a job.....who cares about retirement when youre 29???...it's a tough thing when you're friends, relatives, and neighbors drive realllllllly nice cars....sh--, the temptation....

I really love this topic.......

[Tsion]

Originally Posted by TESLAASTRO

No, 25% is a guideline, not a rigid reality....doesnt matter what your expenses are though, since those are ever changing, emergencies happen....the roof could cave in, requiring 30k for a new one.....your what ifs are not reality based......of course anyone can do whatever they want.....however, regardless of monthly expenses, buying a car that is, for example, 50% of ones gross household income is exceptionally irresponsible.....to put it plainly, it is 'mortgaging your future'.....Sure, you may be making your payments, but something has to give, and since the younger the buyer,statistically the more the % of income will be spent, it will probably be the 401k, the IRA, the life insurance, the college fund, and the 3-6 month emergency fund that suffers....afterall, you think you're going to live forever ....who cares about retirement when youre 29???...

People like me at 22 care about retirement....I want lots of trips when I hit my older years. And lots of pretty toys.

[kamakazitp]

Irresponsible on who's standards? Who's responsibility other than that person's is it to tell them what they can and can't afford. No one. I think I'm saving enough of my salary, but the next guy might think its way too much and the next might think its way too little. It's all relative to each person's own future goals, etc. If they don't want to save at all for the future, thats their choice. They'll be "living large" now, those who save will be "living large" later, provided they are all still alive.

PS, I'm 24 and I've been putting 10% of my salary into 401k for 2 years.