Man, I feel fortunate that I view cars as a tool rather than some sort of statement on who I am, or method to make up for some inadequacy.
15% of monthly after tax income sounds really high for a car. I spend 0% of my monthly income on a car. It’s a ’96 Grand Am I bought used for $1500 cash a year and a half ago after my last used car needed $3000 worth of repairs just to stay on the road.
Maybe at some point in my life I’ll value nice cars more. I’m lucky right now that I can ride a convienient, short bus ride to work, so I only drive to my friend’s houses and places like the grocery store (I could walk or bike, but I like to make large shopping trips less frequently).
It’s so beneficial to my financial situation not to have a car loan.
