Car Buying BUDGET RULE: How much Car can I Afford? (The Homework Guy) Kevin Hunter

Car Budget Rule what does 20/4/10 mean for beginners?

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How To Make A Smart Car Purchase
The Ramsey Show Highlights
Savings! Savings Account
How to budget for a car purchase can seem overwhelming. Calculate: How Much Car Can I Afford?
Aim to spend less than 10% of your take-home pay on your car payment and less than 15% to 20% on car expenses overall.
How Much Should I Spend on a Car?
Investopedia
It is generally recommended that you cap transportation expenses at 10% of your monthly income.
Automotive industry
Wikipedia
The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, selling, repairing, ...
‎India · ‎United States auto industry · ‎By country · ‎Alliance of Automobile
Automotive industry | History, Overview, Definition ...
rs car sales
enterprise rent-a-car
Britannica
Feb 12, 2024 — Automotive industry, all those companies and activities involved in the manufacture of motor vehicles, including most components, ...

Automotive News is the leading source of news about the global automotive industry.
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[hctim]

Great information and thanks for your work...

[ronj]

Hey, wait, there was nothing in this video about Smart Cars! LOL

BUT SERIOUSLY, this was a great video, and I think a must for any high school student to learn practical personal finance. One item I would add for cash buyers is to figure out in the budget how long it would take to save up the cash for the next car purchase (and account for inflation).

[ssztmol]

When we were looking for a car we went to the dealership. We were already approved from our credit union. During the negotiation my wife and I left for another appointment. We dropped by the bank to talk to the loan officer and she told us the dealership will try to get us to sign for a warranty. Our own bank offered a bumper to bumper 7 year warranty for $1500 less than the dealership was trying to charge us and the dealership warranty was only good for the power train.

Definitely use your credit union and all of its resources to bargain with the dealer.

[Steve_in_NJ]

I know leasing is a whole different animal, but I've been leasing for so long, I haven't owned a car for almost 20 years. Yes, I'm always making a payment, but it's always lower than a car loan and I budget for this. It also helps when looking for a nicer trim level, as you tend to be able to lease nicer vehicles because of their residual value at lease end.Since my next lease is this fall, I will also research auto insurance with my carrier comparing ICE, hybrid and EV models to see how much different the premiums actually are for my area. I may have to pay, let's say, $50/month more for insurance for an EV, but will never pay for gasoline, so it could be a benefit over the long term. Just another spreadsheet line to add into my research and budget. Maybe there's another video topic about looking for the best leasing tips instead of outright buying a vehicle.

[josephkelleher]

I would go 50/3/10.. I figure you should put at least 50% down. I go by the old rule that says that you should never finance a car for longer than 36 months,