The opinion that really counts is that of the lenders. Their benchmark is generally no more than 20%, based on their desire to be sure that they'll get paid. Experience has shown them that's a safe figure.
Quote:
Average family drives a $25-35k car...base off a $25k car following this 10% rule means average family makes $250k...
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That would apply if you were paying it off in one year, with no down payment.