Credit Union experts’ take: Today, experts generally recommend spending no more than 15 percent of your monthly take-home pay.
Many buyers first decide on the car they want and let that determine a monthly car payment, or they let a car dealer determine how much they can afford. Neither are good ways to decide how much you should be paying.
So how much should you spend?
Credit Union experts’ take: Today, experts generally recommend spending no more than 15 percent of your monthly take-home pay.