Quote:
Originally Posted by TESLAASTRO
actually very easy - cost of car(or financed amount) < or = to 25% of gross household income
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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.