Any hardship of owning an ISF when you're 20?
03-03-13, 02:42 PM
#46
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03-03-13, 02:45 PM
#48
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I got it from our local Lexus dealership (in Austin). Apparently they do randomized surveys and collect information like this, and our family owns a slew of Lexus vehicles so we're pretty close with the staff and they felt comfortable sharing some of this information with us.
03-03-13, 02:59 PM
#49
Well, if we're talking median household incomes, here's some more data to chew on. If your household income is over $100K/year, you're in the top 16% of median household. If it is over $150K/year, it's the top 6%. Over $200K/year is the top 2.5%.
So obviously there are a lot of people driving cars that they shouldn't... at least not from a financial standpoint. But not everyone is going to live to the same financial principles. Some people are comfortable with car payments that take up 25% of their net income or more. Some of the people that post on this board can barely afford their ISF payments. Others could be driving cars that cost 2-3x as much as they paid for their ISF if they really wanted to. That's the way it is with almost every enthusiast car, and that's the way it is always going to be.
So obviously there are a lot of people driving cars that they shouldn't... at least not from a financial standpoint. But not everyone is going to live to the same financial principles. Some people are comfortable with car payments that take up 25% of their net income or more. Some of the people that post on this board can barely afford their ISF payments. Others could be driving cars that cost 2-3x as much as they paid for their ISF if they really wanted to. That's the way it is with almost every enthusiast car, and that's the way it is always going to be.
03-03-13, 03:48 PM
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Well, if we're talking median household incomes, here's some more data to chew on. If your household income is over $100K/year, you're in the top 16% of median household. If it is over $150K/year, it's the top 6%. Over $200K/year is the top 2.5%.
So obviously there are a lot of people driving cars that they shouldn't... at least not from a financial standpoint. But not everyone is going to live to the same financial principles. Some people are comfortable with car payments that take up 25% of their net income or more. Some of the people that post on this board can barely afford their ISF payments. Others could be driving cars that cost 2-3x as much as they paid for their ISF if they really wanted to. That's the way it is with almost every enthusiast car, and that's the way it is always going to be.
So obviously there are a lot of people driving cars that they shouldn't... at least not from a financial standpoint. But not everyone is going to live to the same financial principles. Some people are comfortable with car payments that take up 25% of their net income or more. Some of the people that post on this board can barely afford their ISF payments. Others could be driving cars that cost 2-3x as much as they paid for their ISF if they really wanted to. That's the way it is with almost every enthusiast car, and that's the way it is always going to be.
And yes, those are median household income figures.
Edit: It's also important to keep in mind that the median age of Lexus owners is around 50. Naturally I don't expect a 20 something or 30 something year old to compete with a 50 year old salary-wise
Last edited by dmvp29; 03-03-13 at 07:24 PM.
03-03-13, 08:20 PM
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