## How much of a car can I afford based on salary?

The rule of thumb among **many car**-buying experts dictates that your **car** payment **should** total no more than 15% of your monthly net **income**, sometimes called your take-home pay (some might stretch this to 20%, but 15% is more conservative and therefore likely to make budgeting even easier).

## How much should I make to afford a 200k car?

With the **average** length of **car** loans being around 6.5 years now that means that for around $2500 a month you can get a **200k car**, which is about 1/4 of the person’s 100k yearly **income**. If they’ve got good credit and not a lot of other loans they can get the loan pretty easily.

## What’s the payment on a $30000 car loan?

It’s based on average **credit**, no money down, and financing for five years. If you change any of those variables your payment will change. So, for example, if you’re looking at a $20,000 car, the payments will be roughly $400 a month. A $30,000 car, roughly $600 a month.

## How much can I spend on a car if I make 60000?

Some financial experts recommend setting your **car**-buying budget at half of your annual salary. **If** you look at the previous example of **making** $5,000 monthly, that **will** equate to an annual salary of **$60,000**. Half of that is $30,000. According to this rule, you **can spend** up to $30,000 on your upcoming **car** purchase.

## What is the lease payment on a $50 000 car?

You want the **$50,000** car and have negotiated the price down to **$45,000**. It will be worth **$30,000** at the end of the lease, so your lease cost, before interest, taxes, and fees, will be **$15,000** divided into equal monthly payments. If you put $2,000 down, the amount you make payments on drops to $13,000.

## How much is a 20k car loan a month?

If you borrow **$20,000** at 5.00% for 5 years, your monthly payment will be **$377.42**. The payments do not change over time.

## What car can you afford with 120k salary?

**You can** comfortably **afford** a **car** that is roughly half of your **salary**, maybe even a little more **if you** have little other debt. So at **120k you can afford** a **car** up to 60–70k. Honestly depends on your other expenses. **If you** live way below your means on everything else, **you** may even **be** able to **afford** a 100k **car**.

## How much should I spend on a car if I make $40 000?

The general rule of thumb **is** that you **should** not **spend** more than 20% of your monthly take-home pay on **cars**, according to Edmunds.com (via Bankrate). So **if** your after-tax monthly income **is** $4,000, your total cost of **car** ownership for ALL of the **cars** you own **should** not exceed $800 under this rule.

## How much is too much for a car payment?

Whether you’re paying cash or financing, the purchase **price** of your **car** should be no more than 35% of your annual income. If you’re financing a **car**, the total monthly amount you spend on transportation – your **car payment**, gas, **car** insurance, and maintenance – should be no more than 10% of your gross monthly income.

## What is the monthly payment on $30000?

Mortgage Comparisons for a **30,000** dollar loan. **Monthly Payments** by Interest **Rate** and Loan Payoff Length.

**$30,000** Mortgage Loan **Monthly Payments** Calculator.

Monthly Payment |
$147.58 |
---|---|

Total Paid |
$53,129.51 |

## Is a 60 month car loan bad?

While I typically think **financing** a **car** for **60**–**months** is not always a **bad** thing, I would definitely NOT go any longer than that. All in all, I think that you should strive to use a 36 or 48 **month loan** because you will pay less interest and it will “help you” buy a **car** that you can better afford.

## What is the payment on a 45000 car loan?

$45,000 Car Loan. Calculate the Monthly Payment.

Monthly Payment | $1,061.99 |
---|---|

Total Interest Paid |
$5,975.61 |

Total Paid | $50,975.61 |

## Can you go to a car dealership just to look?

It is quite acceptable. **If you** aren’t planning to buy, it isn’t quite so acceptable to test drive. **Do** all the looking **you** want, collect any information the **dealer** may have on any **vehicle** that interests **you**, and don’t be bashful about letting people know **you** are **just** looking for now.

## How much do you have to make to afford a Tesla?

We found that on average the salary you need to **afford a tesla** is around $40,000- but that’s really squeezing it.

## What car can you get for 150 a month?

- Renault Clio. Our pick Renault Clio Play TCe 75.
- Dacia Duster. Our pick Dacia Duster Essential SCe.
- Citroen C3. Our pick Citroen C3 Feel 1.2 PureTech 68hp.
- Vauxhall Corsa. Our pick Vauxhall Corsa 1.4
**i**90hp Energy. - Volkswagen Up. Our pick Volkswagen Move Up.
- Dacia Logan MCV.
- Hyundai i10.