![]() The Compromiser: “I’d like some creature comforts - maybe a good sound system and heated seats.” Spend limit: 25%.The Frugal Commuter: “I just need something to get from A to B.” Spend limit: 15%.Folks who just want something to ferry them to work will be perfectly happy spending way less, while anyone who grew up watching Top Gear will likely want to spend closer to the limit. Not everyone should spend over a third of their income on a car. Read more: 25 ways to make money on the side ![]() Make $60,000, and the car price should fall below $21,000. That means if you make $36,000 a year, the car price shouldn’t exceed $12,600. Whether you’re paying cash, leasing, or financing a car, your upper spending limit really shouldn’t be a penny more than 35% of your gross annual income. Here’s how much car you can afford Follow the 35% rule 5 tips for getting the best deal possible on a car.Why your budget is lower than you were hoping.Loan Payoff Calculator: How Quickly Can You Repay Your Loan?.Auto Loan Interest Calculator: Monthly Payment & Total Cost.How To Pay Medical Bills You Can’t Afford.Best Car Insurance For College Students.Should You Get Home Contents Insurance?. ![]() How Much Should You Contribute To Your 401(k)?.How Much Do You Need To Have Saved For Retirement?.The Beginner’s Guide To Saving For Retirement.Investment Calculator: How Much Will You Earn?.How To File A FAFSA As An Independent Student.Best Companies For Student Loan Refinancing in 2022.Best Personal Loans For Excellent Credit.Understanding Overdraft Protection and Fees. ![]()
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