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A $700 car payment may be too much if it exceeds 10% of your monthly take-home pay or if it strains your budget and limits your ability to meet other financial obligations or goals. It's important ...
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 ...
North Carolina. Cost of gas per year: $2,864.16 Average car insurance premium: $1,368 Annual repair costs: $402.61 Monthly payment: $707 Annual payments: $8,4 84 Total annual cost: $13,118.77 ...
Standard personal finance advice says to spend no more than 10% of your monthly income on a car payment and less than 20% on combined auto expenses, including gas, insurance and maintenance. Also ...
The yearly depreciation of a car is the amount its value decreases every year. Normally a car's value is correlated with the price it has on the market, but on average a car has a depreciation around 15–20% per year. [12] [13] Depending on market conditions, cars may depreciate 10–30% the first year. [14]
Trying to figure out how much car you can afford? We break down how to calculate the monthly costs of owning a car to help you decide how much you can spend.
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