Quick Answer: Is 2k Enough For A Car?

How much is the cheapest car?

Cheapest New Cars for 2020:Chevrolet Sonic – $17,595.Honda Fit – $17,120.Kia Rio – $16,675.Toyota Yaris – $16,555.Hyundai Accent – $15,925.Nissan Versa – $15,625.Mitsubishi Mirage – $14,990.Chevrolet Spark – $14,095.More items…•.

Is 2500 enough for a car?

A 2500 dollar car is a fine start. Choose one carefully, as that is a fairly low amount. When you find one, drive it for as long as you can while you save up enough for a better car, then sell the 2500 dollar car (maybe worth 1500 by then) and buy a better one.

What kind of car can I get for $1500?

Best Used Cars Under 15002004 Nissan Sentra. While you won’t be able to get a top-of-the-line Sentra, a base model should fall within your budget. … 2002 Chevrolet Malibu. … 1997 Ford Escort. … 1991 Lincoln Town Car Signature. … 2001 Chevrolet S-10 Pickup Truck. … 1994 Volvo 940 Turbo Wagon. … 1997 Cadillac DeVille d’Elegance. … 2002 Jeep Grand Cherokee Laredo.More items…

Can I buy a car with 1500?

The rule is this: The purchase price of a vehicle (taxes included), shouldn’t exceed $1500 per year, when averaged over the number of years you own the vehicle. The rule applies regardless of vehicle type (car, truck, SUV), or whether it’s new or used.

How much is too much for a car payment?

Whether you’re paying cash or financing, the purchase price of your car should be no more than 35% of your annual income. If you’re financing a car, the total monthly amount you spend on transportation—your car payment, gas, car insurance, and maintenance—should be no more than 10% of your gross monthly income.

How much do I need to make to afford a 30k car?

Buying a car should start with a budget. Yeah, I know, a budget sounds boring, but it serves as your guiding light to know how much you can afford when buying a car….How much should I spend on a car if I make…?Gross income10-15%20-25%$30,000$3,000-$4,500$6,000-$7,500$60,000$6,000-$9,000$12,000-$15,0001 more row•Jan 8, 2020

How many miles on car is bad?

Typically, putting 12,000 to 15,000 miles on your car per year is viewed as “average.” A car that is driven more than that is considered high-mileage. With proper maintenance, cars can have a life expectancy of about 200,000 miles.

How do people afford expensive cars?

If you do finance, keep the terms at four years or less. Banks and car dealerships keep on extending the terms of car loans. … Or pick a card that doesn’t depreciate as fast. … Luxury models cost significantly less when they’re used. … Avoid extended warranties. … Pick-up trucks and Japanese cars. … Rare cars. … Read more.

How much car can I afford for 300 a month?

Calculate the car payment you can afford NerdWallet recommends spending no more than 10% of your take-home pay on your monthly auto loan payment. So if your after-tax pay each month is $3,000, you could afford a $300 car payment.

Can I get a car for $1000?

The best car you can buy for less than $1000 is most likely to be found at one place. Yes, that $1000 Ferrari is a myth, but for $1000 or less you can often get a surprisingly nice car that has been fleet maintained, and it doesn’t have to be a police car.

Is 1500 enough for a car?

$1,500 isn’t much of a budget. I have found out that you don’t save a bunch of money, you just trade off where the money goes. A $1,500 car will likely have over 100,000 miles and for sure will likely have over 60,000 miles. … The care will likely have over 100,000 miles but they are built to last.

How much should I spend on a car if I make 2000 a month?

As a rule, your monthly transportation costs – which includes car payments, auto insurance, and gas – should not exceed 20% of your monthly gross income. To illustrate, if you earn $2,000 a month, your total car expenses should be no more than $400 a month.

What car can I afford with a 50000 salary?

Dave Ramsey takes a balance sheet approach. Rather than looking at monthly transportation costs, Dave recommends buying cars that cost no more than 50% of your annual income. So if you make $50,000 a year, you should not spend more than $25,000 for a car(s).

Should I buy a 2000 dollar car?

Yes, you can, but you will need more than $2,000 to ensure you get a decent car. Find the most respected and cheapest auto shop in your area. Find a car you would like to buy. Ask the seller if they are okay with you getting a pre-purchase inspection.

What is the best used car for under $2000?

7 Reliable Cars That You Can Score for Less Than $2,000Sixth-Generation Honda Civic (1996 – 2000) … Eighth-Generation Toyota Corolla (1998 – 2002) … Fourth-Generation Toyota Camry (1997 – 2001) … Fifth-Generation Honda Accord (1994 – 1997) … First-Generation Toyota RAV4 (1996 – 2001) … First-Generation Honda CR-V (1997 – 2001)

What is the most I should spend on rent?

30%A generally accepted answer is you should spend no more than 30% of your monthly gross income on rent. From that, you could deduce 20% is a sweet spot, 25% is still okay, and 30% should be your upper limit.

Is a 50k car expensive?

Considering the average new car price in 2018 was $37,577, a $50k car isn’t really a stretch. Financial experts say you should not spend more than 15% – 20% of your monthly income on a car. … Is it worth buying an expensive car?

What car will last the longest?

The longest-lasting cars and percentage of vehicles exceeding 200,000 miles are:Toyota Avalon, 2.5 percent.Honda Accord, 1.9 percent.Toyota Prius, 1.7 percent.Chevrolet Impala, 1.7 percent.Ford Taurus, 1.6 percent.Toyota Camry, 1.4 percent.Toyota Camry Hybrid, 1.2 percent.Honda Civic, 1.2 percent.