Respuesta :
The general rule of thumb is to stick to a budget that is no higher than 50% of your annual wage. You can decide whether to take into account gross income or net income. You can accept a budget of Rs. 10 lakhs if your yearly salary is that amount.
How much cash is required to purchase a car?
One must make sure that only 10% of the family's annual income and car-related expenses should be taken into account. Poor planning can influence future expenditures and prevent you from making financially irresponsible decisions. Nobody can prevent you from purchasing your ideal vehicle.
What should I spend on a car if I make $100,000?
Numerous lenders accept DTIs of around 50% for auto loans (including refinance loans). Using the 36% method, multiply your family's income by 0.36 to get the size of the car you can buy. So, for instance, if you make $100,000, you might, provided you have no other debt, afford to take out a car loan of up to $36,000.
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