subject: Calculate How Much Car You Can Afford At Houston Autos [print this page] Calculate How Much Car You Can Afford At Houston Autos
Buying a new car or truck requires considerable thought as to how the purchase will affect your budget. Despite the fact that most families need at least one vehicle to accommodate transportation needs, vehicles are known to be a poor investment compared to other big ticket purchases. With this in mind, it is important to determine exactly how much you can afford to pay for your next vehicle purchase without blowing your budget. Consider the following tips from Houston Autos to better understand if your next car purchase is something you can afford.
Take a close look at your budget- Before you make any major purchase, it is important to carefully consider your current financial obligations as well as any anticipated expenses in the future. The Ron Carter team encourages all buyers to crunch the numbers before they begin their new car search. Financial experts suggest utilizing no more than 20% of your take home pay each month for car payments. This would include all car payments, therefore you must consider any other car notes for which you are currently responsible.
Down payment or trade-in- Houston car dealers can help you lower the amount of your next car purchase by accepting a trade-in or down payment. If you have money saved for your new car, this will reduce the amount of the purchase price and subsequently the amount of your car payments each month. The same is true when you trade-in your current vehicle toward your next purchase.
Interest and other incentives- The end of the year is the best time to buy from Houston Ford dealers. With year end incentives and great offers to include low interest rates, a car that might not otherwise fit in your budget may be more affordable. Consider these factors when calculating how much you can afford when buying another vehicle.
