Ratio Earnings / value of the car you drive

[behappier]

Open question...

Could it be a linear relationship to a point or something else ?

Or is it completely irrelevent and some people earning loads will drive bangers and some earning peanuts will get heavily in debt to buy a new car every 3 years ?

Just interested in averages.

[Howard]

Interesting point, I don't exactly earn much, but I've been told I drive a "nicer car than most people my age", it's not exactly a BMW but I guess I keep it in good nick

I certainly wouldn't take out a loan just to buy a car, so in my case it will be fairly linear. I'm trying to save at the moment so I have 4 or 5 k to spend on a new car at the end of the year/beginning of next

[dave87]

One question comes with married people - if one partner works and one doesn't, do you take the combined value of the cars? or do you just take the value of his/her car.

The other question is company cars - someone may be on 30-40k, but get an astra as a company car, versus the same person in a different company getting a Lexus or something?

[behappier]

One question comes with married people - if one partner works and one doesn't, do you take the combined value of the cars? or do you just take the value of his/her car.

The other question is company cars - someone may be on 30-40k, but get an astra as a company car, versus the same person in a different company getting a Lexus or something?

Good points. I guess for the married people it would be the car of the working partner.

For company cars, I don't think the discussion applies as a sales rep not earning much could be given a very flash car to impress customers and vice versa a service engineer earning a lot more is driving a dull ford/vauxhall/vw estate because of the practicality of the thing.

[wilksj01]

I think it will vary massively. I have been paid larger car allowances in relation to the basic salary I receive and so have got better cars where as some of my colleagues who have the same package have cheaper cars so that they gain extra money each month.

[dave87]

Though for the married people, the working partner will most likely have paid for both cars? so it would be unfair on someone who has spent 30k on two cars (ie a Mondeo & Focus) to be shown differently to one who spends 30k on a single car - say a Merc or BMW.

[davidstone28]

There will be a degree of linearity. A scatter diagram could show all that. My gross annual earnings to the value of my car is about 10:1 The ratio would of course go down considerably if I took into account the cost running it - tax, depreciation, servicing, petrol bills etc.

[dave87]

Taking my rents as an example, if we take just dads car its 10:3, but if we take both cars its 10:6 or 10:7 depending on which value you take. (yearly earnings vs car value)

These are estimates, not sure on actual values.

[badass]

Though for the married people, the working partner will most likely have paid for both cars? so it would be unfair on someone who has spent 30k on two cars (ie a Mondeo & Focus) to be shown differently to one who spends 30k on a single car - say a Merc or BMW.

WTF has this got to do with fairness?
Its a simple survey - not an excuse to boast about something that I cant quite work out now

[dave87]

Sorry, fairness of representation of the figures, not to boast.

[schmunk]

For reference, as of Monday (when I start my new job), my wife and I together gross-salary/car ratio will be ~ 10.5:1.

[behappier]

In my case, 2 cars (actually 3 but the 3rd one is a classic so out of the equation) the current ratio salary/valued PAID for the car (i.e. not new) is 10/3.5 because my wife stopped working because of the baby, when she worked it would have worked out at 10/2.5

[Rave]

If I still had my old car, the ratio would be 100:1 or more. Bangers FTW!

[badass]

If I still had my old car, the ratio would be 100:1 or more. Bangers FTW!

Noice!

[badass]

Sorry, fairness of representation of the figures, not to boast.

Ahh I see.
In that case it'll need to be mentioned for each car, and that there are 2 for any meaningfull stats.

I think that for single cars the average will be between 3 and 4 to 1
I think that for people with 2 cars the difference for each individual car will be only slightly lower.

[Butuz]

10:3 for me.

Butuz