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How much should I spend on a car if I make $100,000? If you make $100,000 a year it is recommended that you don't spend more than around $800 per month on car payments. Caitlyn Moorhead ...
Learn how to determine an affordable car payment that aligns with your income, expenses and financial goals using the 20/4/10 rule.
Based on a calculation of spending 10–15 percent of your monthly pay on a car loan, you should spend no more than $562.50 on your monthly car payment. On the lower end, your car payment would be ...
If at all possible, pay for your car in cash so you can avoid the hefty interest rates — the average interest rate for a new car loan is 6.84%, while the average interest rate for a used car ...
How Much Should You Spend on Your Car? Most financial experts recommend spending no more than 10% to 15% of your net monthly income on a car. So if your household earns $75,000 per year, you ...
The state rankings are based on the minimum salary needed from lowest to highest. ... GOBankingRates determined the salary you need to afford a new car in your state using the following ...
The exact amount that you should spend on a car might change depending on who you ask. Some experts recommend that car-buyers follow the 36% rule associated with the debt-to-income ratio (DTI).
Set a goal based on the cost of the car you want and divide that amount by the months you plan to save. For instance, saving $1,250 monthly could get you $15,000 in a year – without a single ...
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