How to Set a Budget for Car Ownership

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Car ownership

• How to SET A BUDGET

1800 Approved Finance Solutions 33 Ereton
Dr. Arundel, QLD 4214 1800277768 http//www.1800ap
proved.com.au
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CAR OWNERSHIP HOW TO SET A BUDGET
The golden rule is, "If you can't afford it,
don't!" but a lot of people make the mistake of
buying a car or getting a car loan even if they
know that they CANNOT afford it. 
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CAR OWNERSHIP HOW TO SET A BUDGET
 In the end, either the car get's repossessed or
you start skipping meals just to get by. That is
the worst situation to be in.
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CAR OWNERSHIP HOW TO SET A BUDGET
Many fall into this trap, well, not really a trap
but kinda. When the good looking new models, with
the most up-to-date technology, come out. And
that happens year after year and, every so often,
a new sleek body is introduced so who wouldn't
want those, right? If you can afford it, hell
yeah!
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CAR OWNERSHIP HOW TO SET A BUDGET
So how the heck do you budget for a car purchase?
Consider the following so you get a ball part
figure of how much you're gonna spend.
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CAR OWNERSHIP HOW TO SET A BUDGET
Cost of the vehicle and monthly repayments - This
in itself needs a lot of thinking through. We all
love that new BMW that came out and that Ford
Ranger Wildtrak but, ask yourself, what vehicle
do I really need?
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CAR OWNERSHIP HOW TO SET A BUDGET
Maintenance costs - Maintenance is a regular
expense that you can't and should not delay
because you could end up spending more money in
repairs.
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CAR OWNERSHIP HOW TO SET A BUDGET
Gas prices - Estimate how much you'll spend for
gas every month by knowing the car's fuel
efficiency and your travel distance.
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CAR OWNERSHIP HOW TO SET A BUDGET
Registration cost and other fees - This varies
from state to state so I suggest you check with
you local Department of Transportation.
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CAR OWNERSHIP HOW TO SET A BUDGET
When you arrive at a rough figure of how much you
will spend upfront and on a monthly basis, you'll
be in a better position to decide whether buying
a car is a good decision or not. Alternatively,
you may also speak with a finance broker for help
in both assessing your financial readiness and
car loan application.