- Which car does Bill Gates drive?
- How much do you have to make to afford a Lambo?
- How much do you have to make to afford a Corvette?
- How much car can I afford based on monthly payment?
- How much car can I afford based on net worth?
- How much can I pay for rent?
- How much should you spend on a car a year?
- How do you determine how much I can afford for a car?
- How much do I need to make to afford a 30k car?
- How much is too much for a car payment?
- How do people afford expensive cars?
- What car do most millionaires drive?
- How much do you need to make to afford a Porsche?
- What does Dave Ramsey say about buying a car?

## Which car does Bill Gates drive?

Gates has two Mercedes’ in his garage, an S Class and a 500SL, both of which are luxury, high end cars..

## How much do you have to make to afford a Lambo?

However, since cars are a depreciating asset, the less you pay for a car, the better. But based on the less-than-half-your-salary rule, to buy a Lamborghini (without all the bells and whistles) you need to be making… $480,000 a year. You can buy a Lamborghini earning less of course.

## How much do you have to make to afford a Corvette?

The vast majority of cash buyers of Corvettes, then, are those making more than $100,000 a year. Those households make up 15.93% of total American households.

## How much car can I afford based on monthly payment?

There’s no perfect formula for how much you can afford, but our short answer is that your new-car payment should be no more than 15% of your monthly take-home pay. If you’re leasing or buying used, it should be no more than 10%.

## How much car can I afford based on net worth?

Based on my net worth by income post, a 30 year old should have roughly 2X their salary in savings or overall net worth e.g. $60,000 annual income = $120,000 net worth.

## How much can I pay for rent?

A rule of thumb recommended by financial experts is to spend no more than 30% of your monthly income on rent, with some recommending 25% of your income, to ensure you have savings.

## How much should you spend on a car a year?

No More Than 15 Percent of Your Monthly Take-Home Pay On average, 29.8 percent of that went to taxes, leaving $42,356 in after-tax pay. Multiply the total take-home pay by 15 percent, and you’ll have an annual car budget of $6,353. That works out to $529 per month.

## How do you determine how much I can afford for a car?

When it’s time to buy a car, you’ll probably want to know: “How much car can I afford?” Financial experts answer this question by using a simple rule of thumb: Car buyers should spend no more than 10% of their take-home pay on a car loan payment and no more than 20% for total car expenses, which also includes things …

## How much do I need to make to afford a 30k car?

Buying a car should start with a budget. Yeah, I know, a budget sounds boring, but it serves as your guiding light to know how much you can afford when buying a car….How much should I spend on a car if I make…?Gross income10-15%20-25%$30,000$3,000-$4,500$6,000-$7,500$60,000$6,000-$9,000$12,000-$15,0001 more row•Jan 8, 2020

## How much is too much for a car payment?

Whether you’re paying cash or financing, the purchase price of your car should be no more than 35% of your annual income. If you’re financing a car, the total monthly amount you spend on transportation—your car payment, gas, car insurance, and maintenance—should be no more than 10% of your gross monthly income.

## How do people afford expensive cars?

If you do finance, keep the terms at four years or less. Banks and car dealerships keep on extending the terms of car loans. … Or pick a card that doesn’t depreciate as fast. … Luxury models cost significantly less when they’re used. … Avoid extended warranties. … Pick-up trucks and Japanese cars. … Rare cars. … Read more.

## What car do most millionaires drive?

1 But when annual incomes rise above $500,000, the F-150 reclaims its number one spot, followed by two Land Rover models, the BMW X5 and the Lexus RX 350.

## How much do you need to make to afford a Porsche?

Experts say your should not be spending more than 20% of your yearly pre-tax income on a car. Based on that, you will need to earn about $350,000 per year as a family to purchase a $70,000 car. So there you have it. To afford a Porsche.

## What does Dave Ramsey say about buying a car?

Is It Ever Okay to Buy a New Car? As a general rule of thumb, the total value of your vehicles (anything with a motor in it) should never be more than half of your annual household income. Dave doesn’t recommend buying a new car—ever—until your net worth is more than $1 million.