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Car Affordability Calculator U.S. News & World Report
WebNov 15, 2024 · Finance the car for no more than 4 years. Spend 10% of your monthly income on monthly payments. Adding all these values together, you should be spending around 20% of your gross annual income on your car. The median annual income in the UK is £28,677, so if you make the median income you should try to spend around £5,500 on … WebDec 12, 2024 · Assuming your gas and insurance costs are $400 a month, you would need a monthly income of $12,540—or $150,480 per year—to stick to the 20/4/10 rule, even if you have excellent credit. Adjusting your budget is another option for affording the monthly payment on a new car, if your other monthly expenses are low. how to invest in public companies
How Much Should My Car Payment Be? - NerdWallet
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