Historically, buying a house will be the biggest expense in your lifetime with buying a car falling in second place. This means that you have to be very aware about your automotive expenses so your finances don’t suffer. Here are some tips we’ve gathered to help you keep your budget in check.
Let’s start by talking about how to budget your car purchase:
1. Stick to a price point you can easily afford. Again: stick to a price point you can easily afford.
2. Research resale values and reliability ratings. Some cars may be more expensive to own in the long run and/or won’t be worth as much as others.
3. Compare different warranties and loans.
Now, for the years that you own your car, you can also take steps to minimize your expenses:
5. If you financed your car and your credit score has improved, refinance at a better interest rate to lower your monthly payments.
6. Shop for auto insurance every once in a while. Insurance companies need to stay super competitive in their prices, so you might be able to find a cheaper option.
7. Improve your fuel economy by: avoiding abrupt acceleration and casting more, and by stopping at the gas station with the best price. There are many mobile apps and websites that are updated by users and show where the best gas prices are.
8. Coupons! We love coupons at Howdy Honda, so use them whenever possible!
In general, these are easy steps to follow and can really help you reduce your automotive expenses. Who doesn’t want to save money? Now, not to sounds sales pitch-y, but if you are in those first steps, really consider looking into a new Honda. Honda is renowned for being extremely reliable, having great resale value, obtaining optimal fuel economy and being competitively priced. Think about it, and give us a call (512-443-4300).RSS Feed