Budget ahead before buying a new car
When we decide to buy a new car, our choice is often guided by our idealistic desires. We fall in love with the "dream car" and become oblivious to all else, including initial budget constraints. It is as if all of sudden, we absolutely need that exact beautiful little sedan that stands out in the showroom.
The next thing you know you are on the brink of financial disaster: you have financed your dream without considering all the pros and cons of your actions. A few months later, you realize how costly your little "jewel" is.
It is therefore essential to pre-determine the amount you can afford each month to finance and maintain your vehicle; and this not while in a dream like state. After all, there is only the calculator, your wallet and yourself. For example, if you already possess a car and the monthly payments suit your budget, it may be wiser to keep those same payments when buying a new automobile.
On the other hand, if you are short on cash at the end of each month, it may be time to diminish your monthly installments towards the car lease. You have two options. Your monthly payments can be made on a higher number of months, or you can pay the same monthly amount, but for a car that is less costly.