I make $60k per year. What car can I afford? (2024)

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

I make $60k per year. What car can I afford? (7)

Liz Jenson · Updated on

Reviewed by Shannon Martin, Licensed Insurance Agent.

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

worth $21,000 or less.

Some cars that fall in this price range include:

  1. 2023 Kia Soul - starting at $19,790

  2. 2023 Hyundai Elantra - starting at $20,500

  3. 2023 Kia Forte - starting at $19,490

  4. 2022 Hyundai Accent - starting at $16,645

  5. 2022 Nissan Versa - starting at $15,180

  6. 2023 Hyundai Venue - starting at $19,500

  7. 2023 Kia Rio - starting at $16,550

  8. 2022 Nissan Sentra - starting at $19,950

  10. 2023 Nissan Kicks - starting at $20,290

As you can see, you’ve got a range of models, from sedans to SUVs. You’ll want to think about the vehicle you want to drive for your personal comfort and insurance coverage since the type of auto you own affects insurance rates. Don’t forget to test drive them either!

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