Budgeting for Your New Vehicle
When you’re looking for a new car, calculating monthly costs is imperative to ensure you’re not committing to spend beyond your means – especially when you consider that most car financing terms are up to around five and half years, according to Edmunds.com. For even the most modest of vehicles, when you add in things like maintenance costs, gas mileage and insurance, what once seemed like an affordable option can quickly become out of range for your budget. That’s why it’s important to establish how much you can truly afford to pay for your new vehicle while you’re still in the research phase. Here are some key factors to help you determine the right price range for your budget.