How Much Car You Can REALISTICALLY Afford! (By Income Level)

In this video, I go over how much you can afford with your salary when it comes to buying cars. With how crazy car prices are right now, it's important to understand what your income level is capable of buying in today's market. I'll go over a few money formulas, and car buying rules that you can use to figure out how much car you can realistically afford.

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Whether you're looking to lease or buy a car in 2024, this video is for you! Be sure to watch this video all the way as I cover important factors to consider besides car payment, gas, insurance, and maintenance. By the end of this video, you'll know exactly how much car you can afford and feel confident about making a smart decision! At the end of the day, there are tons of people who spend a good amount of their monthly paycheck on car payments and other vehicle and transportation expenses. There's nothing wrong with this, and personal finance is extremely personal.

Not everything has to do with numbers, and sometimes having a luxurious car at a price that you can't comfortably afford gives you more happiness than any amount of money can. Life is short, so just do you, whether that's an old Honda Civic that gets you from point A to point B or a sports car like a Ferrari 458.

If you liked the video and you want to see more videos on personal finance, check out my other videos:

How Much Rent Can You REALLY Afford to Pay? (By Income Level):
   • How Much Rent Can You REALLY Afford t...  

7 SMART Places to Put Your Money (After You Get Paid):
   • 7 SMART Places to Put Your Money (Aft...  

I hope you guys found this video helpful, and if you did please SHARE it with a friend or family member who you think could benefit and also LIKE and subscribe for more videos like this in the future!

Thank you for watching, and I hope you have a wonderful rest of your day!

– Charlie

#Cars #Money #Finance

Timeline:
0:00 - Intro
0:53 - The Current Car Market
1:37 - Formulas To Figure Out How Much You Can Afford
2:11 - 20/4/10 RULE
4:05 - 50/30/20 RULE
5:33- Creating a Custom Formula
8:05 - Depreciation On Cars
10:41 - My Personal Thoughts On Buying Cars
11:55 - Conclusion

Disclaimer: Some of the links above may be affiliate links, which means that if you click on them, I may receive a small commission. The commission is paid by the retailers at no cost to you, and this helps to support our channel and keep our videos free. Thank you!

In addition, I am not a financial advisor. Charlie Chang does not provide tax, legal, or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.

► My Instagram:   / charlie__chang