There’s no one answer when it comes to the « right » amount of money to spend on a car. Learn about the cost of buying a new car.
Buying a car is a complex decision. You have to balance budget with desire and need, which can be really challenging.
Matthew Angel, advice director for USAA, remembers the day his friend’s 23-year-old son got his first job and bought a new car. « It was an expensive sports car – all the bells and whistles, » he says. « His parents thought he was totally crazy for spending all that money on a car. »
Angel saw their point – but he saw their son’s, too. « Sure, maybe it was a splurge, but he did his homework first, » he says. « Being young and single with not many expenses and a steady income, he had it in his budget to spend more on a car than most other people. So in his circumstances, it wasn’t such a bad move. »
There’s no one answer when it comes to the right amount of money to spend on a car. It all comes down to your budget and the total cost of buying a car. Continuer la lecture de How much car can I afford based on my salary?