If you are thinking of finally realizing the dream of buying your own car then you have probably realized that this task is not as simple as it sounds. You need to choose a model that will make your eyes shine and still be within your budget – which goes far beyond the value of your purchase itself, by the way.
To find out what you should consider when closing a contract and securing the ideal car in your garage, read on todays post. Come on?
Benefits of the ideal car
Before sharing important points you should consider, it is worth remembering that having a car can be a real “hand on the wheel”, making life easier for anyone. With it, it is much easier to get around and often even save time – whether for work or leisure.
Still, be careful, as the dream can become a nightmare if you have no planning. Following the excitement and buying a car beyond your financial conditions can be a big financial burden considering parcel prices and the costs of maintaining a car.
To be safe, to be sure to put these tips into practice before closing any deal.
Choose a model within your financial reality
Everyone has a dream car. For some, it may be a sedan, while for others the choice would be for a Jeep or SUV. Anyway, as stunning as these models are, it is always wise to ponder and do everything you can to get your feet down, pondering if these models are within your financial reality.
You might even get this car in a few years, but this may not be a perfect time. To keep you tight after an unplanned purchase, start by searching and searching for models that are compatible with your income and living reality.
Think about whether you can keep paying the installments or if you install payments that can complicate finances after a few months. As hard as it is, it is better to think about it before closing the deal, do you agree?
Evaluate how much you will pay for funding
If financing is your solution to achieving this dream, take it easy. After all, the longer you need to pay off the vehicle, the more expensive you will pay for it. In order not to finance an amount and end up paying an amount equivalent to two vehicles, it is always wise to have common sense and think calmly before signing any contract.
Carefully do the math and consider whether the timing is acceptable and whether the financing amount is viable. For those who are less informed, the debt is ideally repaid within 12 months. So the car does not devalue so much and you get better interest rates.
Add an amount to offer as input
If you have an input amount, you can be a great facilitator. This is a way to considerably reduce the value of the installment and even get better prices.
Ideally, you have at least 20% of the value of the car to check-in at the time of purchase. If the car costs $ 30,000, for example, it is good to offer $ 6,000 at the entrance, the portion that gives more security and “amortizes” the interest.
It may even seem unimportant, but you can negotiate better and even reduce plot values. That is a huge advantage!
Consider all your monthly expenses
When you buy a car you have to pay any other expenses besides the financing portion. As obvious as this may sound, many people do not take this into account when planning, surprising themselves after a while. The result of this may be the loss of the vehicle or even the sale to pay off the debts that begin to appear.
For more prudent positioning, consider the other expenses you will have after bringing a car to your garage. In this case, keep in mind expenses such as parking, a monthly fuel forecast, insurance, IPVA and any maintenance (which always appear, even if periodic). As you can see, there are many values embedded in this purchase and it is always good to think of them. In addition, all of these expenses together should represent less than 30% of your budget, as this will not compromise your income. When you spend a lot of it, it becomes easier for people to mess up their finances and end up in debt.
Analyze factors like safety, quality and economy
Among the models you can choose from, considering your budget, be sure to take these factors into account. A vehicle that consumes a lot of gasoline may not be the best option at first. Precisely for this reason, it is good to do a lot of research and remember that fuel consumption should be within your means. This is one way to avoid some surprises. In addition, consider the quality of the model, always giving priority to those with durability and greater strength. This gives you a longer service life and less worry about wear and tear.
And of course: all this always considering the economy, since it is not in use having a great car technically, but it is beyond the financial possibilities. Knowing these tips, it is up to you to choose the right car for you and your needs. Always keep in mind that a car should bring joy and make your life easier – not complicate your financial area. So be careful and consider all issues to ensure cost-effective and convenient transportation, getting rid of any headaches!
Taking care and calmly analyzing will make the right decision, adjusting all points to your financial situation.
To keep up with the issue and make a well-informed and informed decision, take the time to learn about the complete guide we have prepared to purchase your first vehicle!