Car Buying Articles

10 Steps to Finding the Right Car for You

Step 2: Set Your Budget


Finding the Right Car

Unless you're paying cash for your car, you'll need to think about financing your purchase or lease. How much can you really afford to allocate toward a car payment each month? The general rule is no more than 20 percent of your monthly take-home pay.

Edmunds has some great tools to help demystify pricing and let you figure out what car you can afford. When searching for a car on Edmunds.com (by year, make and model), look for Price Promise offers to get an up-front, guaranteed price on a specific car. To see how the price compares to what others are paying for that car, check Edmunds True Market Value (TMV®). Finally, estimate your monthly payment on the car with the Edmunds Car Affordability Calculator.

Next: Compare Leasing and Buying

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