Buying a car
is a life time decision. The decision which affect your entire life in aspects
of finance. Obviously when you are going to buy a new car, or a used car, you
are investing your all times savings into it. The question is that once you buy
a car, how will it effect in future in your finance?
The reason
is that once you buy a car, it requires a lot of amount to run it. For example
fuel, engine maintenance, service and over all, periodic maintenance, etc. It
also means that if you want to buy a car, you must have to cut down your other
expenses. These all charge you minimum 20 to 30% of what you are earning
monthly.
Now here is
the point comes in mind how to plan it? It’s not a difficult decision. Just
calculate your monthly earning and calculate your monthly expenses. It is
obvious some of your travelling expenses merge in your car expenses, and
overall impact will as much as you are thinking. There is also a matter that
you will have also to reduce or cut of some of your monthly expenses.
Secondly if
you have not a sufficient amount to buy a car at once, but you are capable to
manage some monthly expenses, then you can go for a financed car. The other
angles of expenses are same like mentioned above. There is an increase of
monthly installment for your car. If you are effecting to some extend in your
monthly, the second thing will surely relax you in such a way that you are not
going to put your all life saving in car buying. It will remain save.
This is the
main and a big benefit of buying a car as finance. The need is only that you
must have to go through thoroughly for the monthly expenses.
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