What is the 20 4 10 rule when buying a car?

The 20/4/10 rule uses straightforward math to help car shoppers figure out their budget. According to the formula, you should make a 20% down payment on a car with a four-year car loan and then spend no more than 10% of your monthly income on transportation expenses.

What are things I should know for my car?

5 things everyone should know about their car

• Year, make and model. The first thing you should know about your car is the year it was manufactured, the make of the car, and the specific model.
• VIN. Your Vehicle Identification Number (VIN) is your car’s fingerprint.
• Maintenance schedule.
• Tire pressure.
• Engine light.

What is most important when buying a car?

When buying a new car, there are many factors to consider. The car needs to fulfill your wants, needs, and lifestyle demands. Also, you’ll want to consider the resale value, costs of ownership, desired features, incentive and trade-in options, and pricing and financing.

What is the most important thing on a car?

The Most Important Car Parts You Should Know About

• The Battery. Without the battery, your car isn’t going to turn on.
• Axles. Without them, your wheels wouldn’t be able to rotate.
• Brakes. This is something you need to be very careful with.
• Pistons.
• The Fuel Injector.
• The Radiator.
• The AC Compressor.
• The Clutch.

How do I choose my first car?

7 tips for buying your first car

1. Be honest about your needs. Do you need a car to get to class or work every day, or just for weekend adventures?
2. Think about your budget and financing. Take a realistic look at your finances, too.
3. Explore your options.
4. Know your credit score.
5. Apply for a loan.
6. Take a test drive.
7. Close the deal.