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| Car Purchase Formula: Recommended Maximum Purchase Price of Car = Gross Annual Income / 10 | |||
Car Purchase Definition The Car Purchase Calculator will calculate just how much you should spend on a car, whether used or new, based on the 1/10th rule. The 1/10th rule is a general rule of thumb that states that you should spend no more than 1/10th of your gross annual income on a car. Try out the Car Purchase Calculator by entering in your gross annual income and then see just how much our free online car purchase calculator recommends as the ceiling car purchase price. Also, be sure to check out our Car Loan Payment Calculator as well. How to Calculate Car Purchase Let's be honest - sometimes the best car purchase calculator is the one that is easy to use and doesn't require us to even know what the car purchase formula is in the first place! But if you want to know the exact formula for calculating car purchase then please check out the "Formula" box above. |