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
www.investopedia.com › ... › Car Ownership
It is generally recommended that you cap transportation expenses at 10% of your monthly income.
Automotive industry
Wikipedia
en.wikipedia.org › wiki › Automotive_industry
automobile industry from en.wikipedia.org
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
www.britannica.com › Technology › Industry
automobile industry from www.britannica.com
Feb 12, 2024 - Automotive industry, all those companies and activities involved in the manufacture of motor vehicles, including most components, ...
Automotive News | Car News | AutoNews.com
www.autonews.com
automobile industry from www.autonews.com
Automotive News is the leading source of news about the global automotive industry.
‎News · ‎Video · ‎Opinion · ‎Data Center
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[@KevinHunter]

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[@ronj9124]

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).

[@KevinHunter]

Glad you enjoyed it! Thanks for your comments!

[@nathaneck1871]

Love working with you guys

[@KevinHunter]

Thanks, Nathan!

[@hctim96]

Great information and thanks for your work...

[@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.

[@user-ss6zt2mo1l]

My wife leased a car for 3 years. She drove it back and forth to work only, totally within the allotted mileage. Turning it back in the dealership they were so anal about tiny rock chip marks that were easily fixable with touch up paint. They tried charged her $1800 extra. From that moment I swore I would never ever lease a car unless if was a company provided car. They can totally gouge you for stuff out of your control.

[@Steve_in_NJ]

@@user-ss6zt2mo1lNever had any issues with end of lease returns!!! I do keep my vehicles in mint-condition and my mileage is extremely low.

[@user-ss6zt2mo1l]

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.

[@KevinHunter]

Great comment! Thanks for sharing!

[@The173gispa]

Thanks again

[@Mark-mu4pj]

Thanks great video

[@KevinHunter]

Glad you enjoyed it

[@josephkelleher8820]

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,

[@KevinHunter]

We don't disagree at all!