How Much Car Can I Afford On 40k Salary

I was 19 000 over which explains why.

How much car can i afford on 40k salary. Car loan interest rate. If you re leasing or buying used. Unfortunately this amount isn t negotiable. The rule of thumb when it comes to smart auto financing is the 20 4 10 ratio.

That means when i purchased my 28 000 car i should have spent 9 000 instead based on my 45 000 salary x 20. The interest rate on your car loan also affects your monthly payment. What car can i afford on a 40k salary. I also get extra pay for when at sea etc around 2 3k annually i get subsidised food travel n accommodation can i afford a decent audi mercedes or bmw.

200 000 salary 40 000 car. Your driving record your age what type of car is it new or used where do you live since you are asking how much i assume yo. 80 000 salary 16 000 car. The three rules of car financing.

140 000 salary 28 000 car. There s no perfect formula for how much you can afford but our short answer is that your new car payment should be no more than 15 of your monthly take home pay. You just have to pay it. The sales tax is usually added to your car loan increasing the amount you owe.

40 000 salary 8 000 car. I am a royal marines commando officer on a salary of just over 40k after tax am single with no children no debts. Cheat sheet on how much car you can afford. 20 000 salary 4 000 car.