Question: How Much Should I Spend On A Car If I Make 100000??

The general rule of thumb is that you should not spend more than 20% of your monthly take-home pay on cars, according to Edmunds.com (via Bankrate).

So if your after-tax monthly income is $4,000, your total cost of car ownership for ALL of the cars you own should not exceed $800 under this rule.

How much should I spend on a car based on salary?

It all starts with what we call the 20/4/10 rule, which says you should: Make a down payment of at least 20%. Finance a car for no more than four years. And not let your total monthly vehicle expense, including principal, interest and insurance, exceed 10% of your gross income.

How much should I spend on a car if I make 60000?

Most financial experts agree that your car expenses (monthly payment, insurance, fuel, taxes, routine maintenance and so forth) should be no more than 15 to 20% of your net income. In our $3,300 example that works out to a maximum of $500 to $660 per month.

What percentage of your income should you spend?

20 percent

Photo in the article by “Army.mil” https://www.army.mil/article/152225/shipping_your_pov_from_germany_can_seem_complex_but_doesnt_need_to_be_complicated