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Tips for finding the right vehicle for you and your family (Part-2)

Hopefully we’ve helped to narrow down the “right option” for you based on your most important wants and needs. So now it’s time to find out if you can fit both your wants and needs into the same ride or if you’ll need to scale down the list a bit. It’s time to talk turkey and get into your vehicle budget.

Setting Yourself a Budget

Unless you’re making a single payment for your future ride, you’ll need to think about what sort of monthly options are available to you. How much can you afford to allocate toward your vehicle budget each month? When we say your “budget” this covers a lot of things involving your vehicle. Your budget should include insurance, cost of maintenance, the fuel you’ll use, and of course your payments. This thought process will be a useful train of thought for all methods of payment. 

With newer vehicles having so many high-tech creature comforts and safety feature technologies, a high percentage of buyers are rating reliability as one of the top determining factors in their decision-making process. With that in mind most of these people see their purchase/lease as an important investment to be protected and maintained as much as possible. Like the majority of people, considering some form of tailored protection should also be a piece of your budget range puzzle. This will depend on your lifestyle, driving habits, and technical prowess.

Once you’ve estimated your budget range keep in mind that you’ll need to consider any standard fees and taxes into your estimated payment calculations. Using all these factors it’s time to determine how you might want to pay for your vehicle.

Next entry we’ll discuss what payment options are available and the benefits of each.