Budgeting for a car (what you really need to save for)

Thinking about signing the dotted line on a used car? Do you really know what you have to budget for? A lot of people mistakenly assume that you only have to budget for the price of the car and then you’re done. However, there’s a lot more to it than that. Toyota of Clermont has the details and tips to help you save for the things you need when it comes to buying a used car.

Tip #1: Think about insurance.

You have to have car insurance to get behind the wheel — there’s no getting around it. That’s why it’s important to consider this in the grand scheme of things when budgeting to buy a Clermont used car. Call your insurance company (and a few others) to get an idea of what your premium will be if you buy the car you’re considering. Then ensure that it’ll fit into your budget.

Tip #2: Consider fuel costs.

Before you hit the highway in your new used car, make sure that you can afford to gas it up every week. Some cars are more costly to keep fueled up, and you don’t want to be stuck with a gas-guzzler that will break the budget. Calculate fuel costs and if they’re going to be hard to meet, then consider a Clermont preowned car that’s more fuel efficient.

Tip #3: Decide on financing.

The price of the car is important, there’s no doubt. You want to ensure you’re paying for the value of the car and getting a good deal, not being overcharged. However, unless you pay cash, you’re going to have to finance the vehicle. This means you’ll have finance charges tacked on your monthly payment (the payments won’t just consist of the price broken up). Make sure you can handle that number before you sign the dotted line.

Tip #4: Research maintenance and repairs.

Is the make and model you’re considering prone to certain repairs? What about maintenance — how much are the upkeep costs for the car? Without routine car care, your car’s resale value and performance capabilities drop drastically. Ensure you can afford to take good care of a vehicle before you invest in it.

Ready to shop? Hit the road and visit us at Toyota of Clermont — we’re just off the Florida Turnpike at 16851 State Road 50, and we’re open seven days a week. Call to schedule your appointment at (352) 404–7000!