What is the average monthly car payment in the United States?

Question:
I'm trying to figure out a reasonable price to pay for a family car.

Car buying?

I'm looking for the average monthly payment for a lease and for a new car purchase.

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I'm not looking for "gut feels" on what someone should spend. I'm looking for what the average American does spend.

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Also if there is published information from financial planners on a rule of thumb (ie, 10% of monthly income) for prudent budgeting for car expense, it would be great if someone would point to it.

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If the data is available, I'm interested in large cars / trucks in addition to the average payment for any size car.

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Thanks in advance! CarQnA.com is great!

Answers:

What is a good car for a first time car buyer?

The average consumer pays 11 percent of her monthly gross income on a car payment, according to estimates from autos Web site Edmunds.com

I'm in the market to buy or lease a car. I've always heard leasing is a bad idea, why is that?

PRUDENT RULE OF THUMB

Your monthly car payment shouldn't exceed 8% of your monthly gross income. Less if you have other debt.

If this mean you can not by a good car at your income level. Buy a moped :-)

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