How much less home will I be able to buy if I purchase a new car?

How much less home will I be able to buy if I purchase a new car? Regrettably, it’s a question that I rarely get asked. In fact, I’ve never been asked that question, since sometimes it’s a necessity for them to be able to buy a new vehicle. The Features on a New Ford could be needed especially if you’re looking for a family car or need something for work. The topic has only ever come up when I have to dash someone’s hope of buying their dream home because they impulsively saddled themselves to a $600 per month car note for six or more years and then a few months later thought they might want to buy a home. Buying a new car is an exciting opportunity, and if you can find yourself a cheap deal on car insurance without deposit, hopefully your chances of affording a home should not be harmed too much.

According to The Wall Street Journal the average price of a new car is now $31,000, up $3,000 in the past four years. But at the same time, the average monthly car payment edged down, to $460 from $465—the result of longer loan terms and lower interest rates.

This article was written by ricardocobos

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183