Budgeting for your Auto Loan

Financial experts like Carmen Wong Ulrich from the CNBC show On the Money typically recommend spending 18-20% of your monthly income on transportation.  The average household income in Seattle is $17,154, and 18% of that amount is $257, so that should be the average monthly payment in your area after costs like gas, maintenance, registration, and other vehicles.  Of course, this number varies as widely as income level does, so scale accordingly. 

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