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But if you don’t have extenuating circumstances, the 20/4/10 rule offers a guideline for how much of a car payment you can afford. 20/4/10 Rule.
Here’s what you need to know to determine just how much car you can afford and what financial experts recommend. Start with the 20/4/10 Rule. Know your credit score. Do your research.
Trying to figure out how much car you can afford? We break down how to calculate the monthly costs of owning a car to help you decide how much you can spend.
Yang outlines two basic rules to determine if you can afford a car. The 20/4/10 Rule. The 20/4/10 rule is an old-school financial tool to help you plan a new car purchase. Here’s how it works:
The amount you pay up front for a car can rise by 10% or more when you add taxes and fees into the equation. And if you need a car loan, you might have to put 10% down to get a used car and 20% ...
7 Ways For Middle-Class Families To Actually Afford Their New Car Payments. Cindy Lamothe. April 11, 2024 at 4:00 PM. ... He says you can compare car prices, financing options, and trade-in values ...
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