Just wanted to know what % of your salary do you spend on car repayments. I recently landed a new job and was just considering upgrading my car (CR-V >230k) before it fell apart. I am open to finance as I usually invest most of my income into shares, etc. and I am getting a better return than what I would pay in interest.
I try to invest 40% - 50% of my income and rent + expenses don't exceed 30% of my income, so if my car repayment was to be 20% of my salary would that be optimal?
Just wanted to hear some thoughts from the OzB community to understand how much is not too much expenditure for a car.
Edit 1: Forgot to mention, looking at a nearly new (<30,000 kms) 3 series, C Class, A4, XE/XF, etc. I am well aware of their rock-solid reliability and high appreciation of value but want to experience them regardless (hopefully under warranty) and leasing is not possible.
Edit 2: Just clarifying, I meant <30,000 kms not <$30,000.