To Save for a car It sounds so simple: If you want to build up your savings, just spend less than you earn.

But while a fourth-grader can do the math on paper, even 40-year-olds can have trouble putting that basic idea into practice.

If you’re trying to save up for a new car — or a used car that is at least new to you — it helps to have a plan that keeps you disciplined and on schedule if unexpected expenses pop up.


If you’re looking to purchase a vehicle, here’s how to get your finances in order.


Step 1: Calculate your desired car payment.



If you don’t want a car loan at all, the answer here is “zero.” Skip to Step 2.

But for those who can’t pay in full or who don’t mind a car payment, start by calculating how much you can afford to pay out each month.

Make sure you leave some wiggle room for maintenance, such as oil changes or new tires, of course, or any change in insurance costs. While a car payment is perhaps the biggest single expense here, it surely isn’t the only one.

Step 2: Calculate how much you need down.



Again, if you’re paying in full then the answer is “everything.” Now skip to Step 3.

For those looking at a monthly car payment, a host of Internet tools can help calculate how much you need down at the time of purchase. For example, a 2014 camry muscle starts at 2million.

The Auto Loan Calculator on Cars.com is a good one, because it allows you to easily customize fields including trade-in value, sales tax and loan terms to get a more accurate estimate. Bank of America also has a nice affordability tool that starts with the monthly payment instead of the sticker price of the car. This allows you to start with your budget instead of guessing on how much vehicle you can afford and working backward.

You can do an Internet search and find a host of others. But spend a few minutes testing different down payments and payment terms, and you’ll quickly see how that affects your monthly expenses — and how much car you can ultimately afford.....


CONTINUE READING>>>> [url] http://thehubngr.com/2016/11/15/save-for-car/[/url]

naijaspice:
To Save for a car It sounds so simple: If you want to build up your savings, just spend less than you earn.

But while a fourth-grader can do the math on paper, even 40-year-olds can have trouble putting that basic idea into practice.

If you’re trying to save up for a new car — or a used car that is at least new to you — it helps to have a plan that keeps you disciplined and on schedule if unexpected expenses pop up.


If you’re looking to purchase a vehicle, here’s how to get your finances in order.


Step 1: Calculate your desired car payment.



If you don’t want a car loan at all, the answer here is “zero.” Skip to Step 2.

But for those who can’t pay in full or who don’t mind a car payment, start by calculating how much you can afford to pay out each month.

Make sure you leave some wiggle room for maintenance, such as oil changes or new tires, of course, or any change in insurance costs. While a car payment is perhaps the biggest single expense here, it surely isn’t the only one.

Step 2: Calculate how much you need down.



Again, if you’re paying in full then the answer is “everything.” Now skip to Step 3.

For those looking at a monthly car payment, a host of Internet tools can help calculate how much you need down at the time of purchase. For example, a 2014 camry muscle starts at 2million.

The Auto Loan Calculator on Cars.com is a good one, because it allows you to easily customize fields including trade-in value, sales tax and loan terms to get a more accurate estimate. Bank of America also has a nice affordability tool that starts with the monthly payment instead of the sticker price of the car. This allows you to start with your budget instead of guessing on how much vehicle you can afford and working backward.

You can do an Internet search and find a host of others. But spend a few minutes testing different down payments and payment terms, and you’ll quickly see how that affects your monthly expenses — and how much car you can ultimately afford.....


CONTINUE READING>>>> [url] http://thehubngr.com/2016/11/15/save-for-car/[/url]

American article for Nigerian consumers, o wrong nau!

olamilarks:
American article for Nigerian consumers, o wrong nau!

Very very wrong