Wow Stealth - so based on that you would need to make about 300,000 per year in order to drive (and I mean lease) a 5 series...? $300,000 x .03 = $9,000. $9,000 / 12 = $750 which includes tax.
Originally Posted by Stealth.Pilot
I think 10% of pre tax income is an absurdly high amount of money to spend on a car. Remember this is pre tax so if you look at it as percent of disposable income it is a lot more. Especially when you also net out mortgage payments, children's school fees, wife/girlfriend, etc.
I would advise spending no more than 2-3% of income on a car. Better to save and retire early. Driving a nice car is great, but not if it means working till old age. I'd rather retire by 50 than drive Bentleys and Ferraris.
Put me in the NON Prudent Pile.
2013 535i Space Grey, Biege, M-SPort, Premium, Tech, Cold Weather, Luxury Seating, PDC, 6MT ED-10/11/2012 - PCD Redelivery-12/14/12