Quote:
Originally Posted by csu87
Does no one use the 30% rule anymore? 30% of your annual income is the total price of the car. You can still finance it if you want, but shouldnt be buying a car worth over half your annual income.
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I've actually never heard of that rule. I've always heard that your car payment shouldn't be more than 10% of your monthly income. I'm assuming net monthly income since gross doesn't really mean much.