How Much To Spend On Used Car Reddit In my experience your options at 4K are much better than below 2K especially if you want to keep the car for a while I think the sweet spot is around 4 5K r whatcarshouldibuy has a nice table of 5K used cars
Decide how much you want to spend per year on car ownership including depreciation insurance maintenance and running costs Choose a car you like within that budget and buy it for cash A Knowing what monthly car payment you can afford can help you calculate how much you can afford to borrow for your car loan Use our car affordability calculator to help you set a
How Much To Spend On Used Car Reddit
How Much To Spend On Used Car Reddit
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Finding out how much you should spend on a used car starts with determining what your budget is AAMI Insurance stated on its website deducting essential expenses such as rent mortgage utility bills and groceries from your For example if you financed a 25 000 car at 11 93 the average interest rate for a used car you ll pay over 33 000 when all is said and done not to mention you ll be chained to a car payment for five years 5
In 2024 the average used car listing price sits at 25 571 New car incentives are pulling buyers away from the used car market as phenomenal year end sales get underway With the continuing volatility of used car prices If you are seriously considering a certain vehicle from a private party it would be money well spent IMO Do some research Consumer Reports Car and driver and Motor Trend all do extensive
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The average price of a new car is 31 000 while the average price of a used car is 19 700 But there s more to consider than just the cost New cars take a much larger depreciation hit than used ones The net worth rule for car buying states that you can spend up to 5 of your overall net worth on the purchase price of a car For example if you have a 1 million net worth you can spend 50 000 for a car
Most buyers aim to have a down payment of 20 of a new car s price while used car shoppers should have at least 10 In general you should put down as much as you can So how much should you spend on a car The answer to this question like so many questions is it depends It depends on your income on your lifestyle and on how
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In my experience your options at 4K are much better than below 2K especially if you want to keep the car for a while I think the sweet spot is around 4 5K r whatcarshouldibuy has a nice table of 5K used cars
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Decide how much you want to spend per year on car ownership including depreciation insurance maintenance and running costs Choose a car you like within that budget and buy it for cash A
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How Much To Spend On Used Car Reddit - Finding out how much you should spend on a used car starts with determining what your budget is AAMI Insurance stated on its website deducting essential expenses such as rent mortgage utility bills and groceries from your
