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For example, if you bring home $50,000 per year after taxes, your monthly take-home pay is probably around $4167. Based on the 10 percent recommendation, you could reasonably afford to pay around ...
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If you get a 48-month loan with that interest rate, that means you can afford a car with a purchase price of roughly $22,000, with a 20% down payment of $4,500.
Buying a car is an enormous financial decision and can cause some sticker shock. Indeed, Kelley Blue Book noted that the average cost of new cars is now more than $47,000 — up a whopping $6,000 ...
The tax credit will only be given to the original purchaser of the vehicle, and not to a secondhand owner. If the vehicle is being lease, the tax credit can be claimed by the leasing company alone. The vehicle must be used mostly in the United States. The vehicle must be placed in service by the taxpayer by 2010 or later.
For most Americans, owning a car is an important part of modern life. Increasingly, however, it’s becoming a financial burden for many, as the average cost of a car purchased new has risen to ...
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