You want to buy a new vehicle, but you have a big question. How much should you spend? Figuring out your budget is an important first step in buying a vehicle. Once you know your budget, you will be ready to pick out your vehicle and make a purchase.
Think About the Cost of Ownership
First, you need to think about the total cost of ownership when determining how much you can afford to spend. When you get a new car, you don’t just pay for the automobile. You also pay for insurance costs and repairs. While your warranty will cover most of the repairs for the first few years, your insurance rates will likely go up.
However, you can soften the increase by choosing a vehicle with a good safety rating. Insurance companies don’t have to pay as much for safe cars, so they give people a break on their premiums. That makes vehicles like the 2017 Kia Sorento, Kia Sportage, Kia Optima, and Kia Sedona excellent choices. The Insurance Institute for Highway Safety awarded all of these vehicles a Top Safety Pick rating. That means these are among the safety vehicles on the road.
Come up with some options and contact your insurance agent. Your agent can give you a quote so you will know how much it will cost to insure various vehicles.
But How Much Can You Spend?
Now that you know what costs to consider, you need to know how much to spend. As a rule, you should spend 10 to 15 percent of your budget each month on car expenses. That includes your car payment, repairs, and insurance cost. Go over the various vehicles you want and see how much each one will cost. Then, pick the one that works best for you.
Now that you know which vehicle you want, it’s time to make it happen. Visit Ray Brandt Kia in Harvey, Louisiana, to pick your vehicle up today. The dealership has tons of affordable vehicles that are loaded with features, making it easy to stay within your budget without sacrificing a thing.