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10. North Carolina. Sales tax: 7.00% Aug. 2023 avg. new/used car price: $50,100/$27,558 Aug. 2023 avg. new/used dealer fees: $1,996/$1,623 North Carolina has relatively high sales taxes, but the ...
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 ...
Based on data from Experian, the average monthly loan payment for a new car is $726, while drivers paying on a used vehicle pay an average of $533 monthly. The majority of individuals—79 percent ...
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
This rule states you shouldn’t pay more than 35% of your gross income on a car. For example, if you want to buy a car that costs $28,000, you should make at least $80,000 per year.
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Generally, your total car costs shouldn't exceed 10% to 15% of your take home pay. That means if you make $60,000 but pay for insurance and invest in your 401(k), your take home is likely around ...
See how to cut car ownership costs in 2024 and 2025. ... time it will take to pay off an average car. ... 37.4 weeks to pay off the average new car sale price. That's better affordability than ...
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