Sat. Oct 24th, 2020

Financial Planner

Tips, tricks and guidline for financial planner

5 tips for buying a car with the Christmas bonus

December is the month when banks and dealers offer multiple opportunities to buy the first car. This is because many will receive the bonus for Christmas, which is the opportunity to have extra money needed to complete the initial share of dream vehicle.

So we offer the following tips for buying the car is looking more efficiently and to ensure financial peace of mind in the short and long term.

1. Know the car is sought

It is recommended to make a list of the uses that are thought to give or needs to cover; for example, the transfer of the office to home, going out on weekends out of town, the appearance shopping centers, etc. This is necessary to assess how much displacement should have the car so it is better to have cars with engines between 1300 cc and 1800 cc, because although the car does not exceed the budget, it may be that long – term own vehicle expenses become inconvenient.

tips for buying a car

2. Consider the additional costs

Having a car not only involves walking and recharges the gas tank; you should also consider a budget of monthly salary to give the respective maintenance. Therefore, before buying the car you need to consider how much the care of it, because each brand has a different maintenance. It should also consider other extra – additional costs as SOAT, property registration, vehicle insurance and short – term maintenance.

3. Develop a realistic budget

It is also recommended to have a projected 3 or 5 years depending on the type of credit requested, do not commit more than 30% of total budget revenues and allow save extra money for emergencies.

4. Check all options

It is recommended not only look at the appearance, color or equipment of the car; but prioritize functionality, durability and long term performance. Also, it is always recommended to perform a test drive or “Test Drive” for self experientially.

5. Choose the most convenient rate

Also take into account interest rates of purchase to be performed. In these campaigns vehicular banks and dealers often offer interest rates more comfortable for all cars or for certain specific models that have a low initial amount and with interest rates very low, as they seek to liquidate their inventory.