How Much Car Can You Really Afford? (By Salary)
Today's video is all about figuring out how much car you can afford based on your salary. It's a common question we all face when car shopping, and it's crucial to understand this to prevent getting overwhelmed by hefty car payments down the line. In this video, we'll take a deep dive into the 20/4/10 rule which is a widely accepted guideline to determine what you can afford. We will break down each part of this rule (20% down payment, finance for no more than 4 years, and a total monthly payment not exceeding 10% of your gross income) and provide examples for better understanding. We're also going to discuss other financial factors that you should consider like insurance, maintenance costs, fuel efficiency, and depreciation. It's not just about the sticker price or the monthly payments, it's about the total cost of ownership. By the end of this video, you'll have a clear understanding of what price range to look at when you're at the dealership. Whether you're buying your first car, upgrading to a new one, or thinking about getting that dream luxury vehicle, this video is a must-watch! 🚗 Don't forget to like this video, comment your thoughts or any questions you might have, and subscribe for more financial insights and tips. Let's take control of your financial journey! #CarBuying #PersonalFinance #AffordableCars #idealmoney #finance #investing Our best videos aren't out yet! Subscribe so you won't miss a thing! ►Subscribe HERE: http://bit.ly/IdealMoneyYouTube ►Snag An Ideal Shirt Or Slap! https://bit.ly/IdealMediaShop ►Follow Our Instagram! - http://bit.ly/IdealMoneyInsta ►Subscribe To Our Ideal Cars YT Channel - http://bit.ly/IdealCarsYouTube ►Join The Ideal Car Strategies - http://bit.ly/IdealCarStrategies130 Ideal Money is at the center of shifting the way the next generation leverages their finances to live the Ideal Lifestyle! ► OPEN A ROTH IRA AND START INVESTING https://ideal.media/go/m1-finance/ Disclaimer Ideal Money, and Ideal Media as a whole, is not in any way a certified financial advisor. Any information or advice given by Ideal Media is simply an opinion based on personal experience and research. There is no guarantee on anything we recommend or talk about in our presentation. We recommend you do your own research, and take nothing said on this channel as a guarantee.
