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So your average £80k-earning car-financing person actually spends £1266.67 a month on their car.
It's be interesting to see how that breaks down by income bracket. Off the back of sheppz' comment about expensive German cars I search for e class coupe deals, and you seemed to be able to get a flash German status car for £700p/m.
So I would expect people who spend loads on car payments to spend something like £500-700 once they're able to afford it, but then not really beyond that as earnings increase.
hugo7
greentricky
NickCJ
Obviously this is the wrong thread for reasonable discussion but here’s the info anyway:
https://amp.theguardian.com/uk-news/2023/jan/09/entrenched-car-culture-leaves-millions-of-britons-in-transport-poverty
It’s actually even scarier than I thought as the income figures are gross not take home.
So your average £80k-earning car-financing person actually spends £1266.67 a month on their car.
Average person, not outlying car enthusiast. And 92% of new cars are bought on finance.
Obviously I used the £80k figure to make the monthly payment sound really high, an average £33k earner with car finance spends a mere £522 of their £2154 take home monthly pay running their car.
Sounds insane, but I can see it - £300 finance, £100 fuel, £50 insurance, a couple of new tyres, breakdown cover, a car wash every few weeks, something fails etc.
TLDR: If you wish to fit in at the golf club the cost does not end with the membership fee.