Portion of Income to spend on a Vehicle

Like the thread about how much of your income you should allocate on rent what about cars?
Its one of the largest purchases for alot of people.

I can’t remember the source, but I’m sure I read or saw years ago that the most cost effective form of motoring was to buy a sub £500 car and run it into the ground. I wish I could remember where I heard it.

I used to spend an awful lot but it really is money down the drain once you go above the basic necessity.

The last few years I was spending 27% on my motoring between loans, taxes, fuel, servicing and insurance. That is down below 10% now by paying off my loan, moving beside a luas line and becoming a one car household.

Not really answering the OP’s question but hoping to buy a car with a chunk of what would be our housing deposit. Might as well get some of the wedge out of cash :wink:

The wife’s motor is on it last legs and I’ve refused to sink any more money into keeping it on the road. We need to get sorted before the thing snuffs it altogether so there’s been a panic on the last couple of weeks.

A one car household would be ideal; I can only imagine the savings but unfortunately it’s not an option.

We’re looking at around the '08 mark for the lower tax but there will probably be another raid on the new tax bands in this years budget or the next.

Did this recently. Spent about 50% more than we would have done just because it is sitting in the bank doing nothing. Bought from the North, got a way, way higher spec car for less money and absolutely love it - no regrets whatsoever. And if/when everything does go belly-up, at least I have a comfortable car to sit in and watch the mayhem.

US rule of thumb is six month’s salary but that’s probably propagated by car salesmen. My personal rule of thumb has been to only ever buy what I could afford to pay cash for without wiping out my savings completely. Last time around that was 4 month’s income.

+1 on buying a late model second hand in the North. It depends on which model your looking at, and what kind of deal you can get, but in our case the final cost including VRT came in about 16% less than an equivalent car here.

I reckon the NCT has put paid to this approach. Can get a decent enough cars for maybe 2K with the guts of a 2 year NCT on it.
I wouldn’t buy an old car without one. Might appear fine, but if the catalytics and all that stuff starts going they can turn into scrap value overnight once the NCT is due.

The switch to annual NCT tests for ten year old vehicles was definitely a sop to the motor industry. As is the recent use of ridiculously high numbers for imported vehicles (D110001 and WX11001 for example)

In Queensland its illegal to sell a car without a road worthiness cert.
I have been a fan of the bangernomics but you get fed up of time off for repairs and sourcing parts.
More recently safety is something else I consider. Older cars just don`t cut it with newer ones.

It`s not exactly as straight forward as rent either as there are alot of variables with running a car.

Are you saying they are using the numbers out of sequence, to deliberately identify the car as a second had import, when issuing the license plate? If 11,000 2006 cars have already been registered in Wexford I don’t see the problem with the next 2006 car being registered as 06 WX 11001?

Deliberately out of sequence as you said and by a massive amount. Dublin might end at 30000 in new cars and the imports will start 80,000 higher. Similar story in other counties.
Try it out for wexford here. Huge gap before it kicks in again at 10wx11001 and another hundred for imports. They must reckon this star of david type of identification will hurt the resale value and put people off getting imports in the first place.


I don’t see how. The larger the number is would imply the later in the year it was bought, for non-imported cars anyway.

A car with 08 D 123456 I would always have assumed to be newer than 08 D 123? :confused:

Not necessarily. That story I remember was from the UK, where the MOT is similar. It is probably riskier than it would have been a few years ago though. If they’re cheap enough, you just buy a fresh banger every year and take a punt on passing the NCT. :wink:

I’ve bought my last 2 cars for cash. I aim to have motoring costs of 500-550/month or so between estimated depreciation, servicing, tyres, fuel, tax, insurance. I’d a 5K trade-in so that gave me 6K to spend with it based on my mileage last time out.

I believe everyone should break their car purchases down as above. Think about your total cost of motoring. It might have stopped people selling perfectly good cars to get 2008 diesels for the cheaper tax etc.

I don’t like borrowing for cars, I prefer to save and buy but I appreciate not everyone is in the position. If you need a loan, then you add total loan interest divided by number of months you intend to keep the car to get your monthly cost.

Bought my last car for 200 euro, it was 14 yrs old. Sold it two years later for 200 euro. I spent less on annual parts and servicing. Don’t overlook old cars with low millage. A mechanic bought it off me.

All cars are technically imports since we don’t make any here ; what happens if you buy a brand-new car yourself overseas ( cos you’re fucked off with paddyspec cars ) and ship it in, what reg mark do you get ? i.e. I’m wondering is that reg style only for used imports.

Imports in this case just means cars that were already registered in another country. SIMI want their hands on the new registrations.

Wow. I see it now for Wexford. (But thankfully not for my own county.) I thought license numbers were issued by Revenue? Strange it wouldn’t be consistent across all counties then.

EDIT: It would seem all counties are hit by this and that it was brought in quietly last month.
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I spent 5 times my monthly salary (after tax) on my most recent car, which was the most money I spent in a day ever, and 50% more than I planned for. But I love it, and it’s working great after three years.

I reckon if you are highly dependent on a car (I’m not), then it’s probably worth an extra few quid to get something relatively new with low mileage. But regular maintenance is probably a bigger factor in keeping a car roadworthy. Some people I know have zero trouble with cars, and then others I know are in a Garage every other week. I dunno is it bad luck, poor maintenance or what…

I’ve bought six cars at auction for me and Mrs Flash and none of them gave any trouble at all. I’m pretty strict though. I want two to five years old, one company owner, full and complete service history. Not a taxi or Police etc. Have saved €000’s on dealer prices.

One of the best deals is one I still own - two year old with 85k Miles on the clock, one fleet owner. Paid just 3.5K Sterling at auction in England. I was living in UK at the time, so paid no VRT when bringing it here. It’s now nearly 13 years old as has 142k on the clock. Air Con chiller packed up, but that’s about it.

I’ve also bought a car from these guys. cargiant.co.uk/

I found them very straightforward to deal with. They’re great if you are after a particular car. They have so many you pick your colour. They even helped fill out the UK export form.

I agree with posters above on the maintenance point. I never, ever, miss a service.