by Admin - Posted 2 months ago
Car shopping can be a tricky endeavor, even for the experienced buyer. Finding the right car at the right price is oftentimes a balancing act. Too much car and you’ve destroyed your budget, leaving you struggling to make your payments while also being able to afford all the other expenses in your life that you can’t put on hold. On the other end, if you’re too conservative in your car buying decision, you could experience the dreaded buyer’s remorse, always regretting not choosing something nicer or newer to show off to your friends. Plus, everyone knows it’s easier to make that monthly car payment when you . So, what’s the secret to figuring out exactly how much car you can bring home without breaking the bank?
Salary vs. Expenses
When it comes to acquiring wealth, there are two schools of thought. Of course, the most simple and straightforward way is to just earn more money. But this is usually easier said than done. A much more attainable way of being able to afford new things is to carefully examine all of the ways you’re currently spending your paycheck, especially those expenses that appear on a regular monthly basis. Are there any gym memberships that could be replaced by more frequent walks in the park, or by using your friend’s home gym? Daily lunchtime trips to your favorite restaurants that you could replace with a brown bag? Maybe several streaming services that don’t get as much use, or could be replaced by free or lower-cost alternatives? While cutting any large monthly expenses that you can seems like a no-brainer, most people forget about all of the smaller ways they spend their hard-earned cash. Chances are, if you take a closer look, you’ll be surprised at how quickly they add up.
Find the wiggle room
Once you’ve analyzed your monthly expenses, focusing on the ones that occur regularly, you should have a pretty good idea of what you can eliminate and what you have to keep on that list. Minus this from what you bring home every month, and you’ll have your expendable income. From this amount, you’ll need to think carefully about how much you can do without. Now is the time to look at those spur-of-the-moment purchases you made last month, like a night out with friends at your favorite club, or some compulsive online shopping for new clothes, and ask yourself if you can do without these things. The more you can commit to doing without, the more wiggle room you’ll have for how much of a monthly car payment you can afford.
Talk to a professional
At Cincinnati Auto Credit, our sole focus is putting people in new-to-them cars, regardless of their credit problems in the past. We’ve been at it for , and besides simply selling cars, we’re also experts at helping you figure out how much car you can afford based on your salary and expenses. There’s no benefit to us if we sell you a car that you can’t make the payments on, so we offer to work closely with each customer to figure out their wiggle room, identify their options, and choose the best car that fits their exact needs.
If you’re in the market for a car, but unsure of where the payments will fit into your budget, we invite you to today and give us a chance to help you figure out how to make it happen.