Thursday, May 2, 2019

Auto 101: Budgeting for a New Car



Want to buy a new Honda car at Keyes Honda? You’ve certainly come to the right place then, because we have a great selection of new Honda cars for sale at our dealership. Not to mention, we have a great staff who excels at customer service. In fact, our car finance center near Los Angeles, CA, is so committed to our customers that they have compiled a guide to budgeting for a new car.

Step 1: Calculate the Total Price
Start by calculating the total price of the vehicle you want to purchase. Be sure to account for more than just the sticker price, so calculate registration fees, sales tax, warranties, etc. Also start to think about the monthly costs associated with buying a new Honda car, like gas, auto insurance, and regular vehicle maintenance.

Step 2: Trade-Ins and Down Payments
One way to mitigate the total cost of your vehicle is to consider placing a significant down payment on your vehicle. This will significantly reduce your cost, which means that the more sizable your down payment can possibly be, the better. Additionally, you can trade in your old vehicle when buying your new car. This will also impact the total cost and could help you in negotiating the terms of your loan. These are just a couple of ways to offset your monthly payments.

Step 3: General Tips and Rules
Generally, you don’t want to spend more than 10%-20% of your annual income on your new car. This will allow you to comfortably pay off your loan or your lease without affecting other aspects of your financial situation. 

Here at Keyes Honda, our finance department can help you find the right new Honda car for your specific budget. We can’t wait to help you out!

4 comments:

  1. Cars are important because they provide a common means of transportation, whether it is a longer commute to work or a shorter trip to run errands around town. Opt for the Lincoln car dealer

    ReplyDelete
  2. What an insightful blog, helped me to understand the various things to budgeting for a New Car. Shop for the full range of hawaiian print car seat covers online at totallycovers.com/au.

    ReplyDelete
  3. This is a great article thanks for sharing this informative information. I will visit your blog regularly for some latest post. You can opt for the Land Rover repair services by the enthusiastic and highly skilled repairmen.

    ReplyDelete