It sounds super simple: to save more, spend less than what you earn. But many people have trouble putting that idea into practice. If you are trying to save for a new car, here are a few tips from Lake Wales Chrysler Dodge Jeep® RAM on how to get your finances in order.
- Calculate Your Ideal Car Payment
For those who can’t pay for their car in full, you need to calculate how much you can afford to pay out every month. Be sure to give yourself a little wiggle room for basic car maintenance, such as oil changes, insurance costs, and new tires.
- Determine What You Want and Need in a Car
Once you know how much you can spend, including a down payment, monthly loan costs, and maintenance, it’s time to find the car of your dreams. Be realistic when it comes to choosing a vehicle and do your homework. If you have a growing family, a new sports car may not be the best option. The sales reps at Lake Wales Chrysler Dodge Jeep RAM can help you take a look at our large inventory and narrow down your search for the perfect vehicle.
- Make a Budget
After you pick out your car, now comes the hard part. This is sticking to an actual budget and saving what you need. The best way to do this is to take all of the guesswork out and write down everything you pay for during the month. This includes other debt payments, utilities, rent or mortgage, food, savings, and some fun money. Never live above your means.
- Ask for Help
Our car finance center makes it easy to get the money you need for a new car. Call Lake Wales Chrysler Dodge Jeep RAM at 877-461-2058 to see how we can help you.
A car is a big purchase. But knowing exactly what you can spend, precisely what you want, and setting a budget can help you drive off in the car of your dreams.