How much car payment can you actually afford in today's economy?
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Car affordability is getting harder when car prices keep increasing (along with everything else). With car loans getting longer, it's easier to believe you can afford a car, but how much car can you actually afford? I Always stay on the conservative side, but I've got three updated guidelines to follow for basic car affordability with today's car prices and interest rates. The guidelines are more realistic with today's average income along with recent average car rates and prices.

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Chapters:
0:00 Introduction
0:36 Car Buying Stats
2:50 3-Step Car Affordability Guide
3:00 1 - 20% Down
3:20 2 - 60 Month Term (or less)
3:58 3 - Payment 10% Gross Monthly (or less)
4:44 Car Affordability Recap

#honestfinance #carbuying #caraffordability