Page 62 - Book6E

Let’s Review
What car can you afford?
Use the calculators at bankrate.com to research what the car payment would be for the price of the car you want and then use the following formula to decide if you can really afford it. Call your insurance agent to find out what the monthly cost of car insurance would be.
Monthly car payment: Monthly car insurance:
Monthly fuel cost:
(price per gallon × miles per month)
Monthly maintenance (oil change, etc.): Total car cost per month:
Your take-home monthly pay:
× .20 = Amount you can afford:
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54
Wait Until You Can Pay Cash For That Car
Is this car really something you can afford to buy?
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