Comments on: Poll: How Much of Your Net Monthly Income Goes Toward Vehicle Expenses? http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/ Helping a unique generation achieve financial independence. Mon, 15 Mar 2010 04:23:32 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Auto Insurance Rates Guy http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120851 Auto Insurance Rates Guy Tue, 30 Jun 2009 23:01:52 +0000 http://genxfinance.com/?p=1600#comment-120851 Darn, I'm right around 20%! Ugh! But does that count if I'm trying to pay off the auto loan early? Darn, I’m right around 20%! Ugh! But does that count if I’m trying to pay off the auto loan early?

]]> By: MK http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120775 MK Tue, 23 Jun 2009 19:35:58 +0000 http://genxfinance.com/?p=1600#comment-120775 Since moving 60 miles away from work my gas costs have increased significantly. However with my job they were always pretty high. My car payment itself is about 10% of my net pay each month. And my gas total comes out to around the same amount. I hope to get a new job closer to where I live sooner than later in order to stop spending so much!! (and the car will be paid off soon too! so that'll be out of the equation!) Since moving 60 miles away from work my gas costs have increased significantly. However with my job they were always pretty high. My car payment itself is about 10% of my net pay each month. And my gas total comes out to around the same amount. I hope to get a new job closer to where I live sooner than later in order to stop spending so much!! (and the car will be paid off soon too! so that’ll be out of the equation!)

]]> By: Rosa http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120768 Rosa Tue, 23 Jun 2009 04:47:58 +0000 http://genxfinance.com/?p=1600#comment-120768 We bought an 2001 Camry for $9000 three years ago. I just had it at the mechanics ($256, for spark plugs and oil and air filter and checking some other stuff) and they assured me it will run another 20 years - they were working on a 1997 while I picked mine up. I'm not going to count on it, though. I fill it with gas once a month, for $40-$50, depending. More if we take an out-of-state trip but still nothing like plane tickets. Insurance is just under $100/mo, tags are a few bucks a month, routine maintenance about $50/mo. If you figure we'll drive it 10 years, amortized cost is $67/mo. So call it $300/mo assuming I'm under-estimating mechanics costs. That's about 7% of our net. In contrast, my bike cost $250, new helmet, lock, fenders, lights were another $200 (I had to replace it this spring because my old bike got stolen.) I've had it 6 months so if it got stolen tomorrow it would have cost $75/mo - the kid-hauling trailer cost me $200 used 3 years ago, $5.50/mo. We bought an 2001 Camry for $9000 three years ago. I just had it at the mechanics ($256, for spark plugs and oil and air filter and checking some other stuff) and they assured me it will run another 20 years – they were working on a 1997 while I picked mine up. I’m not going to count on it, though.

I fill it with gas once a month, for $40-$50, depending. More if we take an out-of-state trip but still nothing like plane tickets.

Insurance is just under $100/mo, tags are a few bucks a month, routine maintenance about $50/mo. If you figure we’ll drive it 10 years, amortized cost is $67/mo. So call it $300/mo assuming I’m under-estimating mechanics costs. That’s about 7% of our net.

In contrast, my bike cost $250, new helmet, lock, fenders, lights were another $200 (I had to replace it this spring because my old bike got stolen.) I’ve had it 6 months so if it got stolen tomorrow it would have cost $75/mo – the kid-hauling trailer cost me $200 used 3 years ago, $5.50/mo.

]]> By: Poll: How Much of Your Net Monthly Income Goes Toward Vehicle Expenses? | MORTGAGES http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120767 Poll: How Much of Your Net Monthly Income Goes Toward Vehicle Expenses? | MORTGAGES Tue, 23 Jun 2009 02:52:51 +0000 http://genxfinance.com/?p=1600#comment-120767 [...] Poll: How Much of Your Net Monthly Income Goes Toward Vehicle Expenses? [...] [...] Poll: How Much of Your Net Monthly Income Goes Toward Vehicle Expenses? [...]

]]> By: Savings Accounts Girl http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120764 Savings Accounts Girl Mon, 22 Jun 2009 23:19:55 +0000 http://genxfinance.com/?p=1600#comment-120764 I calculated all my car expenses and I also fall under 10%. It's a good thing my car is reliable and only needs the regular maintenance so it doesn't add up much. So with everything considered my car expenses is only about 4.5% - pretty good :) (includes: maintenance, gas, insurance, & registration) I calculated all my car expenses and I also fall under 10%. It’s a good thing my car is reliable and only needs the regular maintenance so it doesn’t add up much.

So with everything considered my car expenses is only about 4.5% – pretty good :) (includes: maintenance, gas, insurance, & registration)

]]> By: BobQSmith http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120763 BobQSmith Mon, 22 Jun 2009 22:23:20 +0000 http://genxfinance.com/?p=1600#comment-120763 I'm right at 10% for maintenance, gas, parking, tolls, everything car related for a high powered sports car and a high powered sports truck. I’m right at 10% for maintenance, gas, parking, tolls, everything car related for a high powered sports car and a high powered sports truck.

]]> By: SP http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120758 SP Mon, 22 Jun 2009 17:36:27 +0000 http://genxfinance.com/?p=1600#comment-120758 Hard to say -- Do I count cash I save up for an eventual purchase of a car? I think most people with super low expenses probably are not, but just because you spend several thousand all at once and get a paid for car doesn't mean you didn't spend the $$$. Mine are low right now - gas + insurance + maintenance. But eventually I'll need a new car. Hard to say — Do I count cash I save up for an eventual purchase of a car? I think most people with super low expenses probably are not, but just because you spend several thousand all at once and get a paid for car doesn’t mean you didn’t spend the $$$.

Mine are low right now – gas + insurance + maintenance. But eventually I’ll need a new car.

]]> By: Jeff O'Hara http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120757 Jeff O'Hara Mon, 22 Jun 2009 16:26:41 +0000 http://genxfinance.com/?p=1600#comment-120757 My wife and I own our car's outright, no payments. Gas and insurance are pretty much are only car expenses. If they go into the shop that's another expense, but we usually only have one fix per year on our cars, much cheaper than a car payment. My wife and I own our car’s outright, no payments. Gas and insurance are pretty much are only car expenses. If they go into the shop that’s another expense, but we usually only have one fix per year on our cars, much cheaper than a car payment.

]]> By: Rick http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120756 Rick Mon, 22 Jun 2009 15:31:56 +0000 http://genxfinance.com/?p=1600#comment-120756 I think you should have broken down the "less than 10%" option further. I think most people will be in this category. For me, it's about 4.6%, maybe a little less depending on how much I drive. I think you should have broken down the “less than 10%” option further. I think most people will be in this category. For me, it’s about 4.6%, maybe a little less depending on how much I drive.

]]> By: 2008 Taxes http://genxfinance.com/2009/06/22/poll-how-much-of-your-net-monthly-income-goes-toward-vehicle-expenses/#comment-120755 2008 Taxes Mon, 22 Jun 2009 15:17:37 +0000 http://genxfinance.com/?p=1600#comment-120755 We fell under 10%, right around 7%. Not as bad as I thought it was going to be. We fell under 10%, right around 7%. Not as bad as I thought it was going to be.

]]>