Services
Insurance
Repairs
Advice
About

I make $60k per year. What car can I afford?

What are some cars that I can afford on my $60k salary? I don’t want to buy something that I can’t afford, but I’ve never bought a car on my own before and I don’t really know what’s in my budget.

avatar
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s great that you’re doing your research before jumping into vehicle ownership! It’s typically recommended that you buy a car worth no more than 35% of your gross annual income— so if you make $60k per year, you can afford a
new car
that is worth $21,000 or less.
Some cars that fall in this price range include:
  1. 2020 Honda Fit - starting price $17,145
  2. 2021 Kia Soul - starting price $18,765
  3. 2022 Hyundai Accent - starting price $16,440
  4. 2021 Hyundai Venue - starting price $19,935
  5. 2022 Kia Rio - starting price $17,275
  6. 2020 Chevrolet Sonic - starting price $17,595
While you’re learning more about your car options, you should learn about your insurance options, too. Check out the
Jerr​​y
app, where you can see a list of car insurance quotes that work for you in minutes. The average user saves $887 per year.
View full answer 
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

Join 4M+ members in lowering their car insurance

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings