I Spent 1/3 of My Income on Cars and Tools Last Year. 

"HFV has no HFV. But somehow has 2 motorcycles" (hondasfordsvolvo) 01/23/2019 at 14:00 • Filed to: None

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My take home pay for last year was about 27,000. And I spent over 1/3 of that on cars and  tools. Come with me as I dive into the scary territory of looking at how you spent your money. 

5k on paying off the BMW. I borrowed almost 12 after tax title and registration, and owe less than 7k 11 months later. No too bad. My goal is still to get it paid off in 2 years.

1k on parts and maintenance for the BMW. Snowtires, wheels, a roof rack, ignition tune up, and regular maintenance.

1700 onthe Rabbit after tax title and registration because I got collect tags. They cost 3x more then standard plates but never need to be re-newer.

500 on parts for the Rabbit. Including oil, and such.

6-700 on tools. Lots of power tool, torque wrenches, new set of plyers. An OBD-2 reader, And some random additions. I have A lot of of new tools.

1600 on gas give or take

400 on insurance

So all in all I spent nearly 11k on cars and the car hobby. Now a lot of that was necessary, I could have “saved” a lot by only making minimum payments on the BMW. And the Rabbit was obviously and uneeded, but I love it.

The Dummy Gummy > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:15

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Sweet baby J 11/27 is 41%!! Rein it in brotha . Trust me, your future self will thank you!

HFV has no HFV. But somehow has 2 motorcycles > The Dummy Gummy 01/23/2019 at 14:16

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Huh? 

Rusty Vandura - www.tinyurl.com/keepoppo > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:17

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And how much on rent?

HFV has no HFV. But somehow has 2 motorcycles > Rusty Vandura - www.tinyurl.com/keepoppo 01/23/2019 at 14:21

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We have a mortgage now. But we also have an apartment that we rent out. We bought a duplex. The 600 we rent the apartment covers about 80% of our mortgage. It’s a sweet deal.

It’s worth mentioning that isn’t is only my income not counting my wife’s or the rental. My income is less than half of our house hold

Decay buys too many beaters > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:23

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Actually not as bad as I expected

VajazzleMcDildertits - read carefully, respond politely > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:26

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He is saying that your car price is too high relative to your annual take hom e income. But he used his personal favorite phrases to illustrate that, which when read empirically can be hard to understand. 

HFV has no HFV. But somehow has 2 motorcycles > Decay buys too many beaters 01/23/2019 at 14:27

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HFV has no HFV. But somehow has 2 motorcycles > VajazzleMcDildertits - read carefully, respond politely 01/23/2019 at 14:29

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Oh now I get it.

At the same time I bought a car that got me a payment that I could easily afford. If I’d made my minimum payment I would have spent 2640  on it. I just like to get ahead when I can. 

KingT- 60% of the time, it works every time > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:30

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Damn. As much as I would love to spend on cars   I am sitting here at around 6%   thinking how best to drive this thing for the longest time possible and   put away that next car itch that starts creeping up like clockwork around year 3 of ownership. I’ve got about 1.5 years and around $ 6 K more to go on the 3 year loan.

The Dummy Gummy > The Dummy Gummy 01/23/2019 at 14:31

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You’re putting over 40% of your income into cars. I was just stating that’s a bit high even for a hobby.

The Dummy Gummy > VajazzleMcDildertits - read carefully, respond politely 01/23/2019 at 14:32

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Nailed it; personal favorite phrase though?

Yowen - not necessarily not spaghetti and meatballs > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:41

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I had a paid off car last year, so I only spent money on gas/oil/repairs. Then I had to go and total it, so I once again have a car payment. Thankfully not a big one as the insurance check covered half of my new-to-me car. But I’m very interested in getting that paid off this year yet though. There’s a good chance too! As long as I keep up on my side-income.

I was gonna say 1/3 is bad, but it’s not terrible given that you mentioned rental income and bringing in less than half of the household income.

HFV has no HFV. But somehow has 2 motorcycles > KingT- 60% of the time, it works every time 01/23/2019 at 14:42

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Yeah. Like I said in another reply this is a bit hyperbolic because this is only MY income not the household. If it were just me I could not spend this much on cars. Not even close 

functionoverfashion > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:43

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VajazzleMcDildertits - read carefully, respond politely > The Dummy Gummy 01/23/2019 at 14:57

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I tried to be descriptive and specific, but it was only a guess based on that comment. You may in fact type differently the rest of the time. I just don't know yet.

CarsofFortLangley - Oppo Forever > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:58

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Almost equal for the Home/Auto categories .  About....uh, a lot of $$ each.

Rusty Vandura - www.tinyurl.com/keepoppo > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 14:59

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I wasn’t expecting any response because I thought my question was rather impertinent. If you’d replied f**k off, I’d have said I deserved it.

I’ve got something like seven vehicles that I own, in whole or in part, that I have to keep running. #adultchildren

gogmorgo - rowing gears in a Grand Cherokee > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 16:01

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I’m afraid to count. I sold one vehicle , which I didn’t break even on, but bought two others. I haven't spent much on tools, but at one point I had three vehicles registered and insured, in addition to three others that are also managing to eat into my budget despite being completely unregistered and uninsured and not moving. And I'm about to dump more money on a set of tires, although it's been over a year now since the last time I did that so not do bad...

HFV has no HFV. But somehow has 2 motorcycles > gogmorgo - rowing gears in a Grand Cherokee 01/23/2019 at 16:03

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Yeah tires will be one expense this year for the BMW. snows are still good but the summers are junk. They are run flats so they were junk when new. 

HFV has no HFV. But somehow has 2 motorcycles > CarsofFortLangley - Oppo Forever 01/23/2019 at 16:04

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This is the second tasty donut I’ve seen here today. What app is this from? 

Long_Voyager, Now With More Caravanny Goodness > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 16:05

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Huh, think I spent less than $1k on vehicles/tools last year.

Reasons I love cheap/paid off vehicles.

CarsofFortLangley - Oppo Forever > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 16:11

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Mint, it's an app/web service. I've used it for years

HFV has no HFV. But somehow has 2 motorcycles > Long_Voyager, Now With More Caravanny Goodness 01/23/2019 at 16:11

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That would be nice. I shuodnt have to spend any money on tools this year so that’s nice. 

CarsofFortLangley - Oppo Forever > Long_Voyager, Now With More Caravanny Goodness 01/23/2019 at 16:14

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Boooo!

Long_Voyager, Now With More Caravanny Goodness > CarsofFortLangley - Oppo Forever 01/23/2019 at 17:08

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Hey I bought the car, did a motor swap, completely rebuilt the suspension/brake system, and painted the car on $800 of that.

The other $200 went into the van at some point.....

Oooooo, wait, I put tires on the van, so $1500 for the year between both vehicles.

Long_Voyager, Now With More Caravanny Goodness > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 17:09

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I haven’t had to spend any on tools in probably 5 years or so. Not much needed to work on 90s Mopars. ;)

That being said I did pretty much completely rebuild the Acclaim on that $1k.

CarsofFortLangley - Oppo Forever > Long_Voyager, Now With More Caravanny Goodness 01/23/2019 at 17:19

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I wish I had the skills for that kinda thing.

Long_Voyager, Now With More Caravanny Goodness > CarsofFortLangley - Oppo Forever 01/23/2019 at 17:27

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There’s always time to learn. ;)

CarsofFortLangley - Oppo Forever > Long_Voyager, Now With More Caravanny Goodness 01/23/2019 at 17:33

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I'm trying! I still look at my photos from the light install. I was so pleased with myself. 

Long_Voyager, Now With More Caravanny Goodness > CarsofFortLangley - Oppo Forever 01/23/2019 at 17:39

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You did a mighty fine job on that, I love the way they look on your car.

Honestly that’s the way to do it, start with simple things, then work your way into the harder stuff.

Currently working a deal on a Turbo Voyager, which needs a pump in the trans, I’ll likely tackle it myself as I’ve always wanted to tear into an auto, an it won’t be a daily so I’ll have time to do it.

MiniGTI - now with XJ6 > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 18:55

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GTI paid off last fall - That means more money for Jaguar restoration right?!???

HFV has no HFV. But somehow has 2 motorcycles > MiniGTI - now with XJ6 01/23/2019 at 18:59

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Paying cars off is always nice, but then you have to fight the urge to sell/trade it for something else 

MiniGTI - now with XJ6 > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 22:37

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Normally that would be true but I’m still pretty happy with both cars and not really in love with anything newer on the market . Although owning two German cars (13 GTI and MINI) of the same MY both at about 80k miles is of some concern. It’ll be interesting to see which blows up first. We’re both kind of MINI enthusiasts and merely GTI owners.

gogmorgo - rowing gears in a Grand Cherokee > HFV has no HFV. But somehow has 2 motorcycles 01/23/2019 at 23:59

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My daily doesn’t have winters so... Yeah. That’s something that needs done. I tried ordering today but our contact at our wholesaler is apparently on vacation until Monday. Makes things complicated to order for yourself off someone else there. I’m not in a huge rush... I’ve survived since September so...