It Makes Sense to Maintain that New Automobile

So you have made the decision it is time to purchase that new model automobile, you’ve picked out the color and found the price range you’ve been looking for. You’ve got your down payment and you’ve gone over the financing options as well as what your budget can handle as far as the payment along with any insurance costs changes.

But one thing you may not have figured on when you’ve made the choice to purchase this new automobile is what the actual expenses will be to maintain and keep your vehicle in good running condition. People normally do not put this part in the equation of their finances when it comes to their decision to purchase a specific model. In a recent Consumer Reports estimate over the next five years, you will spend four percent of the total cost of your vehicle on such things as repair and maintenance on keeping your vehicle in good condition. Sure, right now it doesn’t seem like a lot but it will seem so when you have to deal with a large repair such as a blown transmission.

Another recent study shows that an average American household will spend a minimum of almost $5500.00 on gas and automobile expenses. If you stop to think about this it adds up to almost being like a second car payment.

This American average includes all different makes and models. This also depends on what make and model automobile that you have chosen to purchase. For example if you purchase a brand new Honda Accord over a British sports car of course that maintenance cost will be much lower. Remembering to purchase a warranty from the beginning and this will help you out early on when a repair is in order.

In today’s economy, many people are hanging on to their autos much longer and keeping them in better condition then they were in the past. Also today’s autos are built to be much more dependable, it is not unusual to see a car go past the 100,000 miles on the odometer. With people doing the basic routine maintenance although at times this can be expense it will be spread out over many years.

With a person taking good care of their automobile they will prevent expensive repairs and any serious problems as the miles accumulate on their vehicle. Just by changing the oil or rotating the tires will save a person thousands of dollars down the road. Always make sure to check your owner’s manual as to the recommended maintenance schedule for you vehicle and you will have that auto for many years to come.

Let Manly Automotive Group help you in your new and previously owned vehicle choices today stop by our website today and drive away knowing that you made the right choice with us! Manly Auto can also can be found on Twitter https://twitter.com/ManlyAuto  and Facebook http://www.facebook.com/pages/Santa-Rosa-CA/Manly-Auto-Group/103413126362572? v=wall&__a=3& ; stop on over and visit us!

How much can you afford to spend?

You might be already dreaming of a certain model vehicle that has your eye or maybe the features of a vehicle that would make your driving experience a more pleasurable one. Well, its time to come down to reality because the first thing you need to do before making that new car purchase is to estimate what the actual price range is that you can afford.

First thing you will need to do is to decide how much money you will be able to pay upfront in case and with a trade-in or even both. The monthly payment will be determined by how much money you will be borrowing and what the maximum payment is going to be that you can afford every month.

You may be lucky and find an auto loan that requires a low down payment of five percent but it is highly recommended that you put down as much money as you can afford and the preferred by most lenders is 20 percent. With a higher down payment this will reduce the amount of money you will need to borrow as well as reduces your monthly payment and also this will reduce the amount of interest you will be paying on the loan in the long run.

Keep in mind that your down payment doesn’t have to be in all cash, if you have a car already and there is any sort of trade in allowance the dealer may credit this back towards your down payment. If you sell the car yourself you will usually get more then you would if you were trading it in. You might consider this before you make the new car purchase.

Per Consumer Reports who are the financial experts, they recommend that your total debt payment be absolutely no more then 36 percent of your gross income. If you go by that rule, you will be able to determine how much you actually will be able to afford to spend every month.

In knowing what your down payment and monthly payment will be along with that a typical interest rate and the number of years you are going to be making the car payments for, you wll be able to calculate the price of the vehicle that you can afford and the loan amount that you will need to qualify for.

In addition to the vehicle price, you need to consider other costs, such as the Sales Tax, Registration Fees and Insurance premiums. The taxes and registration fees may have you reaching in your pocket as much as 10 percent or more and if driving a car that is worth more then your current income will cost you more to insure. Be sure to check with your insurance agent or get an insurance quote online to make sure you know what you are actually getting involved with prior to any new car purchase.

Let Manly Automotive Group help you in your new and previously owned vehicle choices today stop by our website today and drive away knowing that you made the right choice with us! http://www.manlyauto.com/  We also can be found on Twitter https://twitter.com/ManlyAuto and Facebook http://www.facebook.com/profile.php?id=100001445954579&v=wall stop on over and visit us!