It feels good to have a vehicle that you love, but spending a big chunk of your income on a nice ride creates big personal debt problems. And in some parts of the Treasure Valley, we rank among the worst in the US for overspending.  If you're thinking of buying a new vehicle, you gotta read this!Let's start with the good news.  Eagle ranks in the 28th percentile and Boise ranks in the 52nd for overspending on cars, according to Wallethub.  Nice work Eagle.  You are the bright spot in the Treasure Valley.

Meridian ranks in the 52nd percentile with Boise.  Nampa is in the 80th percentile, and Caldwell lands in the 91st.  In other words, many of us in the Valley get an A for being good at creating big car payments for ourselves.

To come up with the numbers, Wallethub considered how much we still owe on a car after we drive if off the lot, and they considered how much money we take in monthly.  That creates a debt-to-income ratio, and that number for auto loans in the Treasure Valley is pretty shocking when it's compared to the rest of the US. The debt-to-income ratio for auto loans is 91% in Caldwell, and it trickles down to 61% in Boise.  Oops.  A healthy debt-to-income ratio for car loans is about 36%

You can check your credit score for free on WalletHub and use the car payment calculator to figure out an auto-loan payment that's affordable and doesn't put us in the hole too much.

I mean, that ride is impressive, but we still gotta buy groceries after all.

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