
Get exclusive money-saving offers and guides
Straight to your inbox
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
The amount you should spend a new car largely comes down to your personal situation and your personal tastes. The only wrong answer is anything over 100% of your income, but we're going to say the right answer is 10-15% of your annual income in most cases and anywhere from 15-30% of your income if you're a car enthusiast or get a lot of use and enjoyment out of your car.
By deciding ahead of time that you will not spend more than 15% of your yearly income on a car, you will have a clear price in mind.
Annual income | How much you should spend on a car (15%) |
---|---|
$20,000 | $3,000 |
$40,000 | $6,000 |
$60,000 | $9,000 |
$80,000 | $12,000 |
$100,000 | $15,000 |
$150,000 | $22,500 |
$200,000 | $30,000 |
Before you start comparing car loans, it helps to know what you're working with. This repayment calculator lets you compare loans by how much they will actually cost you all up, in real money. Simply fill in the loan amount, the loan term, the interest rate and the repayment frequency to see how much different loans actually cost, in real terms.
The Finder app hunts down personalised ways for you to save. You could save on your bills, mobile plan, credit card, insurance and more. Pop in your phone number below to get your download link.
By submitting your phone number, you agree to the Finder privacy policy and terms of use
To find the right car loan, try following the guides below. Remember that everyone's financial situation is different and that you should compare all options critically before deciding on one loan. The following are just suggested guides and may not be right for everyone.
You can use this guide for low rate car loans or this one for used car loans as a baseline for new or used car financing.
Binance and Coinbase are two titans of cryptocurrency – let's see how the two stack up and find out which suits your needs.
The Kia Stinger 330S costs $9,800 less than the top of the line GT model. But should you buy it?
Build both your knowledge and Bitcoin wallet with this simple guide to trading.
Finder research shows 2.7 million Australians have a car loan. Find out how much Aussies are borrowing, and how this has changed over time.
Here are some of the best electric cars in Australia in 2021.
There are 24.4 million super accounts in Australia from a total of 84 funds, with MySuper assets equalling $812 billion. Find out more in our report.
We’ve done the hard work to help you find the best camping stoves you can buy right now.
Compare car loans and discover prices and specs of the Toyota RAV4.
This card offers 0% interest on balance transfers for 36 months, a discounted $29 first year annual fee and platinum benefits including airport lounge passes and complimentary insurance covers.
If you just want to track your car’s progress for the fundamentals, the Apeman C450 will get the job done, but its price does reflect the lack of polish or additional features on offer.