If you have found that you drool in envy every time a sports car whizzes past in in Tampa, consider this: buying an expensive car does not mean that driver can actually afford that car.
The safe way to buy a car in Tampa is to analyze your budget before you start your search for the perfect car. Here are some steps to help make your decision a wise choice
If you are not paying cash, set a monthly loan limit.
If you are financing your Tampa vehicle with an auto loan, you will need to decide how much you can comfortable pay each month. Read more here: free auto loan calculator.
Do not start by thinking about the price of the car; instead you must opt to tally any and all other monthly expenses and comparing the total to your monthly net income. This will give you a good idea as to how much cash you have to spare. You want to keep your total vehicle expenses, including monthly vehicle payment; cost of gas; an insurance policy and ongoing maintenance.
Look at your total debt load, and really consider if a payment that comes in at under 20% of your monthly net income will in any way prevent you from meeting your other financial obligations. A good rule of thumb is to try to limit your total household debt payments to less than 36% of your pre-tax monthly income.
Look beyond the price on the window, or the price on the computer screen.
Your total automobile related expenses stem from a lot of different sources, only one of which is the price tag on the window of your dream car. You must remember that fees also include:
State and local taxes and fees can increase the cost of your Tampa car by as much as 10%. You need to watch out for interest rates that are too high, because high interest can kill you over the life of the loan. Insurance rates can vary widely based upon credit rating, age of the car, vehicle options and even your own history with local law enforcement. Fuel cost, Maintenance and repair.
No matter if you use our site to find the perfect Tampa car in an online search, or you use our informative articles to help you make your decision about the perfect car, we invite you to frequently review anything we share. The team at BidOnMyAuto.com is here to make Tampa car buying an easy and completely hassle free process for every interested Tampa car buyer.