You have found the car of your dreams, or maybe just the vehicle that your growing family needs. You know you’re going to need an auto loan, but how do you know if you can afford the car loan for the vehicle that you’re looking at? Understanding what you can afford will let you know what price range to look at when you consider pre owned cars or new vehicles. It can be tricky to make the decision, and ultimately every household will have to decide what’s best for them, but there are some things to know that can help you make your decision.
The Average Range
For most people, 10% to 50% of your gross annual income is an appropriate amount to spend on a car. That’s an enormous range to work with, but it is hard to nail down because cost-of-living varies from community to community; yet the cost of cars does not change ver (more…)
23 Jul 2018