How much should i spend on a car if i make $100,000
- how much should used cars cost
- how much should used car cost
- how much do used cars cost
- how much does used car cost per month
What should i pay for a used car at a dealership.
Cars are expensive, no doubt. But unless someone cracks the code to teleportation soon, we all have to pay for this necessary evil to help us get from point A to B in life.
It’s common knowledge that buying a secondhand, reliable vehicle is the smartest financial move.
Average used car price by year
But given the wide price range and endless vehicle choices these days, how much should you actually spend on a used car?
The short answer is: As little as possible! (This is a money site, after all. And we want you to keep as many of those hard-earned dollars in your pocket as you can!)
Jokes aside, figuring out your exact car budget can be tough.
Because if you go too cheap, you could be stuck with a clunker that breaks down every second week.
And if you overspend on a whip that’s above your means, you might be sacrificing other important financial goals in exchange for that sweet ride.
So where is the sweet spot middle-ground?
The 10% rule:
We’re fans of the 10% rule of thumb for car expenses. It basically states that your entire budget for automotive costs shouldn’t exceed 10% of your income each year.
T
- how much do second hand cars cost
- how much does second hand car cost