There's a rule of thumb to know how much you can afford. It's the 20/4/10 ratio – a standard set of 3 rules to help make your car-buying decisions easier. How much should you put down on a car? How long should you finance a car? And how much of your salary should go towards buying a car.
Read the blog for more: https://www.ratehub.ca/blog/how-much-car-can-you-afford/