How much is too much for a car payment?
Susan Tompor/Detroit Free Press
19 January 2017
- Counselors at GreenPath say aim to spend 15% of income on transportation, including car insurance.
- About 40.7% of new car loans are in the 61 month to 72 month range, Experian says.
- Payments on a $20,000, five-year car loan would be about $371 a month with a 4.3% rate.