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How to Set a Budget for Car Ownership PowerPoint PPT Presentation


Buying a car? Learn how to properly set a budget so you have enough money for repayment, maintenance, and other costs of ownership.

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How to Set a Budget for Car Ownership

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Car ownership

Car ownership

How to SET A BUDGET

1800 Approved Finance Solutions

33 Ereton Dr.

Arundel, QLD 4214

1800277768

http://www.1800approved.com.au


Car ownership how to set a budget

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!


Car ownership how to set a budget3

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.


Car ownership how to set a budget4

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 RangerWildtrak 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.


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