Some experts suggest consumers whose only debt is a mortgage can. It depends on how much income you have after your bills and expenses.
How Much Do You Spend On Car Maintenance Car Maintenance
Another rule of thumb says that drivers should spend no more than 15 of their monthly take home pay on car expenses.
How much money to spend on a car. Spend no more than 35 of your pre tax annual income on a car. That 15 cap however only applies to consumers who aren t paying off any loans besides a mortgage. 36 percent of.
Another set of auto buying experts suggests your car buying budget can be as high as half of. Spend no more than 20 of your take home pay on a car. If you take home 2 500 spend 500 on a car.
That s a big range we know so if we had to set a rule it would be this. But as a rule of thumb your car payment should not exceed 15 of your post tax monthly pay. If you make 3 500 spend 700 on a car.
Half your annual salary. So if a person is ready to make a small compromise on newness of a car used car will be a better value for money than a new car. Lower is better but we recognize personal finance is personal.
So how much should you spend on a car. 3 luxury vs affordable brand. By opting to purchase a used car one can reduce the cost by at least 10 15.
You can spend between 10 and 50 of your gross annual income on a car. So under that guideline if your net pay is 3 500 a month it s best to avoid spending more than 525 on car costs. I would like to touch upon this topic of car purchase.
No more than 15 percent of your monthly take home pay. For example if after taxes you.
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