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That would depend on how much money you make and how much the car costs.
The formula is: price paid for vehicle/ income.
A related question, and one possibly giving the answer desired is "what is the typical range of car price to annual income ratios".
1:2.5 is pretty average, with 1:1 and 1:6.1 the outer limits of a certain sample.
someone else wrote that 1:4 is a good ratio to aim for.
What else can I help you with?
Is car insurance included in the debt-to-income ratio calculation?
Car insurance is typically not included in the debt-to-income ratio calculation because it is considered a variable expense rather than a fixed debt obligation.
Can you get a car with an open car loan already.?
Depends upon your debit, to income ratio, but, yes. It is possible.
Can you get a car with an open car loan already?
Depends upon your debit, to income ratio, but, yes. It is possible.
What is the recommended car loan to income ratio for individuals looking to finance a vehicle purchase?
The recommended car loan to income ratio for individuals looking to finance a vehicle purchase is typically around 15 to 20 of their monthly income. This means that the monthly car loan payment should not exceed 15-20 of their monthly income to ensure they can comfortably afford the loan.
What is income ratio in mutul fund industries?
income ratio of a mutual fund is defined as a ratio of net investment income to its average net asset value.
How can you determine the sales tax owed on a new car?
Multiply the state income tax times the car purchase price.
Can you change your debt to income ratio?
Your debt-to-income ratio is your total monthly debt obligations divided by your total monthly income. Increase your income or lower your debt payments to have a more favorable debt-to-income ratio. How do the credit companies know your income?
Does a classic car count as income if you sell it for the price that you put into it?
No, if you make no profit on the vehicle then you had no capital gains.
What are the requirements for obtaining Arizona car loans?
To obtain a car loan in Arizona, you typically need to have a good credit score, stable income, and a down payment. Lenders may also consider your employment history and debt-to-income ratio.
Income to staff cost ratio?
staff cost to income
Cost to income ratio?
operating expenses/operating income
Is income a ratio or interval scale measurement?
Income is a ratio measure. In ratio measures, one can order categories, specify the difference between two categories, and the value of zero on the variable represents the absence of the variable. Thus, income can take on values of $0, $10, $30,000, etc. Zero dollar income means the absence of income, making income a ratio measurement.
