If you want to get the best value for your money, it's important to understand your options. You could lease a new car, buy one, or invest in a reliable used car. Before you decide which option fits your needs, let's look at the real costs of each. Then you can use a monthly car payment calculator to crunch the numbers.
Money management experts recommend that you don't spend more than about 15 percent of your monthly net income on a car payment. Keep in mind that percentage doesn't account for the cost of ownership, including insurance, maintenance expenses, and repairs. But the recommendation of 15 percent or less is only part of the picture when it's time to buy a car.
The average monthly car payment is $700 for a new car, $525 for a used car, and $467 for a leased car. Here's a quick overview of each option to help you figure out how much car you can afford. (And a monthly car payment calculator so you can get the most bang for your buck!)
With car prices skyrocketing and paychecks tanking, buying a used car makes good financial sense. Used cars have a much lower average monthly car payment than new cars, so your monthly payments go farther.
Not all used car buying experiences are the same. When you choose Car Time Supercenter in Tucson, you get the trusted hometown service you deserve and an affordable car you'll love to drive.
A monthly payment calculator can help determine how much car you can afford. We make it easy to mix and match loan amounts, down payments, terms, and more to find the perfect used car. When you're ready to get the most value for your monthly car payment, check out Car Time Supercenter. Contact us online or stop by and take your favorites for a test drive to find a used car that fits your lifestyle.
