Monday, 4 January 2016

How much should you spend on a car

We can help you decide how much money to spend on your new car. Just take a look at the different components here:-
Down Payment
Making a cash payment upfront helps to reduce the monthly repayment amounts that you need to pay, but it should be balanced with how much you have in your bank account at that moment of course!
Monthly Payment
Examine your savings each month and how much you can comfortably put aside each month to go towards your car repayments. You can also tap on your savings or adjust your expenditure to make sure that you can fit the monthly payments in.
Extra Costs
Extra costs can affect how much you spend on your car outside of your monthly payments. Road taxes and sales taxes, registration costs, insurance, petrol and maintenance all adds up!
Don’t spend past your limits and look at your car financing plan carefully before committing. Being comfortable with the amount you pay will make your life a lot easier!

How much should you spend on a car