How much should I budget for a new car?
When it comes to budgeting for a new car, there are many factors to consider. The price of the actual car is just one of them; you'll also need to factor in the cost of taxes, registration, and insurance. Additionally, you'll want to consider the ongoing cost of ownership, including gas, maintenance, and repairs. The ideal budget for a new car will depend on your specific circumstances, like your income, expenses, credit score, and desired car type. However, as a general rule of thumb, experts suggest spending no more than 15-20% of your monthly income on car-related expenses.
This mind map was published on 17 May 2023 and has been viewed 72 times.
