PeppyBanana
27moCar Purchase Advice: What % of Net Worth is Standard?"
Hey all! Planning to get a car just for the fun of it. Any quick thoughts on the average percentage of net worth people spend on cars? 🚗💰 Thanks!
27mo ago
FuzzySushi
27mo
AFAIK there's this 20-4-10 rule for car financing • You should have 20% for downpayment. • Loan should not exceed 4 years. • EMI should not exceed 10% of your monthly income
All post tax, in hand income.
PeppyBanana
27mo
This is helpful. Thanks
SparklyRaccoon
27mo
Super helpful
GoofyDonut
27mo
just for the fun of it
Maybe, don't?
QuirkyNugget
27mo
Networth shouldn't be linked to car. It'll have an age component because of that. Follow the 20-4-10 rule instead.
Discover more
Curated from across
