There's no perfect rule for how much you can afford, but our answer is that it should be no more than 15% of your monthly take-home pay. Fitting a car payment into your regular monthly budget is no easy task. Economists do not agree on how to figure out its affordability. One school of thought holds that all of your vehicle bills– fuel, insurance, car payments– should not go beyond 20% of your pretax monthly income.
Learn More: https://www.justgetmeapproved.com/how-many-cars-with-bad-credit/
0