ilmscore | Prediction Details
"20 stands for the down payment you should be making on your car... the four represents the term of the car loan so simply put you should aim to pay off your car loan in no more than four years I.E 48 months and then finally the 10 is the portion of your total monthly income that should be allocated to car expenses so this includes not only your monthly car payment but also things like your maintenance and your insurance"
By Nischa | July 2, 2023 | Pending
From video
ACCOUNTANT EXPLAINS: How much car can you REALLY afford (By Salary) 00:02:00 - 00:02:54
Interpreted Prediction
The 24/10 approach suggests a 20% down payment, a loan term of no more than 4 years, and car expenses (including payment, maintenance, and insurance) not exceeding 10% of monthly income.

Prediction Details

Topic
Car Purchase Guideline

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