How Much Money Should You Really Make to Own a Wrangler?

By Clint Simone - November 3, 2016

2016-jeep-wrangler

The Jeep Wrangler will forever be the vehicle of many people’s dreams. That reason, along with countless others, is exactly why forums like this exist. And one of the Wrangler’s biggest appeals to people like you and me is that it doesn’t take supercar money to own one.

So, it would make sense to assume a Wrangler is an attainable off-roader for those of us at earlier, less-wealthy times in our lives. But where should the line be drawn? How much money should you actually make to own a Wrangler?

Luckily, the good folks over at military.com, in conjunction with USAA, posted an incredibly useful set of rules that make not just owning, but affording a car relatively simple. Some rules to live by:

Keep your TOTAL vehicle expenses to less than 20% of your net household income. This includes not just the car payment itself, but also gas and maintenance costs too.

Look beyond the sticker price of the car; remember that taxes and fees are included beyond just the sticker price that you see.

Decide on a down payment. We now live in a world where sizable down payments are not necessarily the standard. However, the more money out of pocket on initial purchase means less interest paid during the loan process.
Keep total households debts, which include mortgage or rent, and car payments, to less than 36% of your gross pretax income.

Although the article does not give an actual dollar amount to own a vehicle in the price range of a Wrangler, there are many factors at play to help determine whether it is the right ride for you. For example, a 2017 Wrangler Unlimited starts around $28,000. Adding a few fun options can easily put you over the 35K mark, so use that as a basis.

There is no exact science to determining the right balance between income and car price, however tools like this are a great way to make sense of the entire car-buying process. With a little saving and good long-term planning, you too can enjoy the open-top goodness of America’s favorite off-roader.