Saturday, November 13, 2021

Purchase the car you need instead of the one you want. Consider your needs, budget, and maintenance costs.

A good rule of thumb is that your car expenses should not be more than 20% of your take-home pay. Be sure of what you can afford to pay each month. Understand the difference between your needs and your wants.

Choose something that meets your everyday requirements. Avoid going outside your means to buy a "cool" car.

You don't want to spend most of your take-home pay on car payments when you could be spending on other important things.