Buying a car is a significant financial commitment that requires careful planning.
Many people aspire to own a vehicle, but without proper budgeting, car ownership can become a financial burden rather than a convenience.
The cost of purchasing a car goes beyond the initial price—it includes insurance, fuel, maintenance, and other operational expenses.
To ensure financial stability, it is essential to choose a car that aligns with your income level.
In this article, WoK provides a clear breakdown of how much you should spend on a car based on your net salary.
Car budget guide based on net salary
For individuals earning below Ksh 50,000, the most practical mode of transport is walking or using a bicycle.
Given the financial constraints at this income level, investing in a car is not advisable as it could lead to unnecessary financial pressure.
Those earning between Ksh 51,000 and 80,000 may consider a motorbike as an affordable and efficient mode of transportation.
Motorbikes are cost-effective in terms of fuel consumption and maintenance, making them a practical choice for people within this salary range.
For those earning between Ksh 81,000 and 100,000, the recommended car budget falls between Ksh 1,000,000 and 1,300,000.
As the salary increases to between Ksh 110,000 and 150,000, the suggested budget rises to between Ksh 1,400,000 and 1,600,000.
Those earning between Ksh 155,000 and 180,000 should consider vehicles priced between Ksh 1,700,000 and 1,900,000. At this level, individuals can afford entry-level cars without straining their finances.
Salaries ranging from Ksh 190,000 to 250,000 align with a car budget of Ksh 2,000,000 to 2,400,000.
Individuals earning between Ksh 260,000 and 300,000 can set aside between Ksh 2,500,000 and 3,000,000 for a vehicle.
For those earning between Ksh 350,000 and 400,000, the budget expands to between Ksh 3,200,000 and 3,600,000. This allows for a wider selection of vehicles, including more premium models.
A salary of Ksh 420,000 to 460,000 corresponds to a car budget of Ksh 3,700,000 to 3,900,000.
Those earning between Ksh 470,000 and 500,000 can allocate between Ksh 4,000,000 and 4,500,000 for a car purchase.
The recommended budget increases to Ksh 4,600,000 to 4,900,000 for individuals earning between Ksh 520,000 and 560,000. With a salary of Ksh 580,000 to 600,000, the suggested budget stands at Ksh 5,000,000 to 5,500,000.
For those in the salary range of Ksh 620,000 to 680,000, the appropriate car budget is Ksh 5,600,000 to 6,200,000.
Individuals earning between Ksh 690,000 and 750,000 should consider vehicles priced between Ksh 6,300,000 and 6,800,000.
A salary between Ksh 760,000 and 800,000 aligns with a car budget of Ksh 6,900,000 to 7,200,000. If the salary falls between Ksh 820,000 and 900,000, the recommended budget expands to between Ksh 7,500,000 and 8,500,000.
For individuals earning between Ksh 950,000 and 1,000,000, the suggested car budget is between Ksh 8,800,000 and 10,000,000.
Those with a salary of Ksh 1,000,000 to 2,000,000 can consider vehicles priced between Ksh 12,000,000 and 15,000,000.
Finally, for individuals earning above Ksh 3,000,000, there are no strict budget limitations, meaning they have the freedom to purchase any car of their choice.
