<prompt> Human: Ill be needing to buy a car in the near future and Im wondering how much I should be spending. There are some handy rules of thumbs about other things such as spend less than 13 of your income on housing, save at least 10 for retirement. Is there a rule of thumb for how much your car should cost?I know its best to buy used so thats a good start. How are you supposed to find the sweet spot with regards to current age and cost of the car relative to the expected longevity and repair costs? As in, the older the car is the cheaper it is, but at the same time you may need to spend thousands on repairs before it dies on you in only a couple years. In the long run this will end up being more expensive than buying a newer, more reliable more expensive upfront car that lasts costs you little in repairs and puts off your next car purchase for more years.  <response>: As much as you saved up in cash to buy it. Just make sure you have room in your budget for repairs, gas, and insurance. 