Oh, BTW, financial planners think 10-15 % should only go to transportation purposes but they didn't mention how much to put on 'hobbies'!
I've seen so many young drivers here that are driving this awesome car and it just suprises me how they are able to keep up with the payments. I know, I know I will get flamed for this post but I think a lot of kids today have little or no financial knowledge at all. It's like the world revolves around the car.
Oh, and I'm only in my mid 30s and I've had my share of this experience years ago when my car payment was over 50% of my income and I was scraping for everything else. It was a terrible experience and don't want to go through it again. I didn't totally enjoy having a good car then!

 

1. 0%
2.0.9%(yearly)
3.0.4%(yearly)..............24yrs old

 

1. $800/month
2. Insurance: $1k/6 months Gas: $160-175/month
3. No mods

About 20% of my income goes to my baby

 

$450/mo
$120/mo gas $75/mo ins.
$0/mo mods.

8%

 

About 18% of my gross goes to my G35 and my S-10:

12% G35 lease payment (S-10 is paid for)
3% gasoline/oil
3% insurance/registration

30% of my monthly expenditures total. I'm 29 yo.

 

$514/mo car payment
$140/mo gas
$100/mo insurance

im 22 yrs old. 26% of income goes to car, however im living at home until i finish college. so i have no cost of living expenses. i sacrifice living on my own to have a nice car. easy trade off IMO.

 

$475/mo car payment
$140/mo gas
$50/mo insurance (parents pay most of it as long as im still in school)
$XXX on mods whenever i have left over money to spend on them

I dont have to pay rent as long as i live at home and go to school, so basically all i pay for is my car and gas.

I'm 19 yrs old
-GP-

 

1. 5%
2. 1%
3. 19" wheels - one time cost of $1500

and i'm 34 married and a baby with $3k/mo mortgage
wife drives an 06 passat and an 05 pilot for snowy days
and i drive the 05 g35

 

1. $430/month payment
2. $200 ($110 for insurance, $90 for gas [2 tanks/month]
3. i've averaged $100/month in the first 4 months of ownership

~11% of my income

 

sweet, looks like i'm winning

 

1. car - 9%
2. Insur, gas, tolls - 8.5%*
3. mods - 1700 so far (intake, plenum, headers, cats, install)

*I drive almost 100 miles/day rd trip for work on a toll road

 

what percentage of your monthly income goes to:

1. car payment
2. insurance and gas
3. mods

27 years old.

1) $0, paid cash
2) $85/month insurance - Gas $300
3) Just a set of Winter Wheels ($1600 paid cash)

5% goes to my G35

 

Well said, why would you wanna pay as much as your car expenses on a nice car just to live in a shytty apartment or rent a room in a house with 4 other roomates that drive you nuts?? And since the cost of living is so high, especially where I live, you'll probely be stuck with a POS car. I wont be moving out till I have a high paying CAREER. Until then, Im fine with living at home and driving nice cars.

 

Well... assuming monthly income is gross income (since I think net is terrible for comparisons sake because of 401(k)s and whatnot):

car payment: 12%
gas + insurance: ~7%
maintenance: ~1% (average cost per month)
mods: 0% (I'm completely happy stock... yes... boring old stock)

total: ~20%

for net income... it ends up being about 32%, but 401(k) retirement savings have already been taken out (10% gross).

Speaking of retirement... lets see... 10% gross into 401(k) plus ~6% into a Roth IRA. (This is about financial planning after all right?)

Right now, rent for my apartment is about 15% of my income (really good in Los Angeles given the area I live in), but I'm worried that when I move it'll go up to about 23% (a significant amount more).

 

payment - 0 (paid cash, but you might say that my opportunity cost for doing so is about $200/mo)
insur/gas - about 1.8%
mods - 0 (all stock here)