Rep Power: 528

I know there's a formula for your house (like x percent of your income), but is there a general rule for how much you should spend on a car?

Thanks.

 
Rep Power: 403

i think its like 30 percent of ur income... but alot of us live with our parents and dont' have any bills to pay, so it pretty much goes all to our cars.... like me... hehe

 
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I just set up a new budget for myself and with car payment, insurance, and monthly maintenence (oil changes, tire rotations/balancing, etc) my car is about 35%% of my monthly income lol (I pay a lot for insurance.. like close to $300 USD a month)

 
Rep Power: 528

bump, please. This is for my g/f cuz she's about to get a new car.

Thanks.

 
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30% for your car? Not unless you sleep in it. anyway if you plan to buy instead of lease, it's highly recommended to put as much down as possible. Monthly payment wise, anything over 25% would seem high. On the other hand, if you can, pay it off as early as you can.

A lot of people these days owe more on the car than the car's actual value (really bad situation), so budget carefully before buying.

 
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ya id aggree pay off as much asap, is she looking to elase or buy?

 
Rep Power: 285

get a car from the auction,

 
Rep Power: 394

I've read that it should be about 10-15% of your monthly income. I think i found that on Yahoo Autos a while back.

 
Rep Power: 528

She wants to buy a used car but I don't think she can pay it off all at once. We just graduated from college within the last year. So, she doesn't really have enough saved up to pay for it all at once.

 
Rep Power: 564

aint that the truth. I remember ages ago when I lived at home....those were the days.

 
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OLD MAN WITH A CIVIC!

 
Rep Power: 307

if its 15%....i can get a car with a $656/mo payment....which i plan too