I will be shortly purchasing a car with help of a loan. Suppose my earnings per month is
X, what should be the EMI [Equated Monthly Installment] limit ? Till now my monthly expenses are
X/4 and the remaining was being invested in stocks or deposits or liquidated for some purchases.
Considering this is it bad if I purchase a car which would need me to pay up
X/2 as EMI ?
(Kept the salary as X to make this question generic)