How Much Car Can You Actually Afford in the UK? (By Salary)

Stop letting a monthly car payment dictate your finances. Learn the real math behind car affordability and why your salary determines your actual budget. Many buyers focus entirely on the monthly car payment, completely ignoring the true cost of car ownership. This video breaks down why that number is often misleading. By examining depreciation charts and the hidden expenses of maintenance, you will learn how to calculate a realistic car budget that protects your long-term financial health. We explore the salary ladder concept, using a £75,000 salary as a case study to show why a £27,000 to £33,000 car might be the correct limit, rather than what a dealer suggests. If you want to avoid overspending, this guide provides the framework for assessing car depreciation before you sign a contract. Understanding these figures ensures you drive a reliable vehicle without compromising your ability to save money. Subscribe for weekly personal finance breakdowns, and comment below with the biggest car buying mistake you have ever made. Timestamps: 0:00 - Intro 01:07 - The Only Car Budget Rule That Matters 01:48 - What Each Salary Bracket Can Actually Buy 04:43 - What It Actually Costs to Own a Car 06:28 - The Wealth Killer Nobody Talks About 08:40 - PCP and the £7.5 Billion Scandal 10:33 - What Every Driver Needs to Know 13:03 - Bonus _____________________________________________ WHO AM I? I'm Haseeb. I moved to the UK at 19 with no savings, no job, and no one to guide me. I worked in restaurants, drove buses, delivered food, and led a team at KFC. I spent years earning minimum wage and made every money mistake along the way. £30K in debt, cars I couldn't afford to insure, crypto losses, and a bank account that lived in overdraft. While driving for Uber, I enrolled in a coding bootcamp. One year later, I landed a job as a software engineer. I have since cleared my debt, bought my first home, and started building real wealth for the first time in my life. Now I make videos breaking down what I learned the hard way, so you don't have to. No hype. No jargon. Just the systems that actually worked for me. New video every week. Subscribe here:    / @thehmalik   _____________________________________________ DISCLAIMER: This video is for entertainment purposes only and does not represent financial advice. I am not a financial adviser. All calculations and examples are for illustration only and may not reflect your personal circumstances. Always do your own research before making financial decisions. When investing, your capital is at risk. Investments can rise and fall, and you may get back less than you invested. Past performance does not guarantee future results. Pies & AutoInvest is an execution-only service. Not investment advice or portfolio management. You are responsible for all investment and rebalancing decisions. _____________________________________________ CONNECT WITH ME: Instagram:   / thehmalik   Facebook:   / thehmalik   TikTok:   / thehmalik   _____________________________________________ Sources referenced in this video: ABI Motor Insurance Premium Tracker Q1 2026, published April 2026 — https://www.abi.org.uk/news/news-arti... FCA Policy Statement PS26/3 Motor Finance Consumer Redress Scheme, March 2026 — https://www.fca.org.uk/publications/p... HMRC VED Rates 2026-27 — https://www.gov.uk/vehicle-tax-rate-t... HMRC Insurance Premium Tax Rates — https://www.gov.uk/government/publica... Autumn Budget 2025 — Pay-per-mile EV tax confirmation House of Commons Library Briefing CBP-10607 — https://commonslibrary.parliament.uk/... Finance and Leasing Association Industry Data 2025 — https://fla.org.uk NimbleFins UK Car Running Costs — https://www.nimblefins.co.uk/cheap-ca... Motorway Depreciation Guide — https://motorway.co.uk/sell-my-car/gu... The Car Expert PCP Finance Guide — https://www.thecarexpert.co.uk/how-to... Marsh Finance Affordability Guide — https://www.marshfinance.com/blog/wha... RAC Car Tax Bands 2026 — https://www.rac.co.uk/drive/advice/bu...