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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).
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 ...
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 ...
Learn how to determine an affordable car payment that aligns with your income, expenses and financial goals using the 20/4/10 rule.
Plummer was careful to clarify that this 10% number should include all of your monthly car expenses, not just the monthly payment on your car loan. “So, if you’re making $80,000, don’t sign ...
The average American spends $725 on their monthly payment for a new vehicle, according to Experian's data from earlier this year. This is a $75 monthly increase from the previous year. While used...
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