How Much Car Can I Afford?
How much car can I afford? The quick answer is ten to 35 percent of your annual pre-tax income. Factors to consider include how much cash you have on hand, how much you want to finance, and the kind of car you want to drive.
What To Keep In Mind
There are several factors outside of the sticker price of a car to keep in mind. Once you roll off the lot with a new vehicle, there are other monetary factors to pay close attention to. When considering a new purchase, remember to consider and do the following:
- Vehicle cost, over time, includes things like gas, maintenance, repairs, and monthly payments
- Search for a vehicle slightly below your max budget, to leave room for extra costs
- Shop for featured vehicles; We offer several great options on both new and pre-owned vehicles
- Make a budget
- Keep in mind certified pre-owned options, which will be close to a new model at a great price
- Calculate the total cost with all the options you want, not just the base model
- Use a payment/affordability calculator to gauge your spending range
- Explore financing and leasing options
The cost of buying and owning a car is sometimes more daunting than shoppers may realize. Just keep these tips in mind, and you should be picking out your new ride in no time. At Jordan Ford, we’re here to help South Bend drivers can the car they want, at a price they love.
Find Affordable Vehicles at Jordan Ford!
Finding affordable vehicles is not as hard as it sounds, and the Ford Focus and Ford Fiesta are just two compelling alternatives. The Focus is packed with technology and has a low base price of $17,950MSRP. The Fiesta’s peppy ride and starting price of $14,205 MSRP make it a winner. If you need a larger SUV, the Ford Explorer starts at $32,140 MSRP. Come on down to Jordan Ford, just outside Granger, and check out your options today!