ericdee

ALL OF IT

Nicolaasdb

ALL MY WEALTH....I even sold my wife...kids...home....tv.....and now I am ponding my golden teeth to mod my P.......
5-10% of your wealth and this coming from a country in which 99% has a debt of 8K and up and buys and lives on credit!!! I have people forking out thousands of dollars for a photoshoot, but they can't pay cash...they drive in brandnew cars (100K and over) but can't take cash out of an ATM...go figure....

x5rap

I waited to get my Porsche until the point where if anything needed attention, I could say without hesitation, "Fix it." I want the car as mechanically sound as it can be. Net worth, I don't know, a low %, but cash flow and bucks-in-bank needed to be there so no one in family is cheated and I don't have to hesitate getting needed parts, tires, brakes, or saying, "Fix it."

Nicolaasdb

x5rap...that is the right answer!!! That was exactly my position....if car, wife, child or anything else "breaks down" there should not be no financial problems to "fix it".....and there should still be some money left to mod your P!! Get yourself a 62" HDTV...buy your spoiled kid a Xbox 360 (700 bucks???? ridiculous!!...when I was his age.......) and your wife all the plastic surgery she wants, which makes the mods on a P seems like pennies!!!
My P has been at the paint shop for a week....needed some rhino painting....after "facelift" and I NEED IT BACK!!!!!

leedav

There's no wealth in cars. They are an expenditure, not an investment. An expenditure that for some is worth a lot, and for others only a little.

Ron PCar

live on salary, bank the bonus is my strategy. Spend the 80% of salary (putting away max 401k amts obviously) on mortgage, living expenses, cars, etc leaving about 15-20% as cushion and bank whole bonus. This is how I figure i can live the way i want while also putting building my FU fund. Never, Never, Never, touch the bonus dollars, if the lifestyle needs to utilize bonus dollars, change the lifestyle.

Moogle

nice philosphy Ron.

yes conventional wisdom says 5 and NEVER more than 10% (if its your hobby)

PS. nice to see alot more northeast NYC/CT owners.

ltc

My wife is somehow behind this question.........

wross996tt

cars...less than 1%. But who cares?

eurotrashed

I reckon I am around 15-20% all car crap included. I never go on vacation though, so maybe I am just swapping resources around? I dunno, I drove around with nowhere to go today and smilin' the whole time, so that is worth something.

JTSPO

Daily driver: volvo 850 (won't quit)
fun car: 996 (currently getting a replacement engine)
Priceless
Collectible ducati's and limited production Moto guzzi ($3000 in maintenance minimum)

In the end, my house never disappoints.

woody-77

No I don't make $2mm, I wish. Maybe I missed the point of the question. One year of car payments is less than 5% of my salary.

Not sure how to measure wealth in cars I guess.

SciFrog

Everybody's right numer can be so different, age, salary, net worth, family, type of income, location.

Bear with me, this is going to got boring:

there are two financial types, first the "income" household where net worth is being built. In this case, you need to look at the total cost of ownership of your cars, including financing (even if you pay cash), depreciation (leave out maintenance, gas and insurance, after all you always need a car), count no more than 15%, 10% being more reasonable.

For the "net worth" financial type, which is a household with high net worth ($1m+) and normal income, no more than 5%, except if you can abide by the 10% of income rule of the other "income" type.

Riad

With that metric I have about 5% of my gross income spent on my Porsche.

peachboy

...regardless of what the proper percentage is the beauty lies in the simple fact that according to this "fixed" percentage theory, the more your net worth goes up, the more Porsche(s) you have to own.