Whether you’re looking to purchase a brand new 2019 Subaru Outback or a certified pre-owned Subaru model here in the Fort Myers, FL area, you’ll likely need to budget for your new car. Fortunately, our team here at O’Brien Subaru of Fort Meyers is here to help.
Our Subaru dealers want their drivers to get the car they deserve, without breaking the bank. So, we’re breaking down a few simple budgeting tips for getting the keys to your next Subaru vehicle.
When it comes to car budgeting, you should first research the price of the car you want. Keep in mind that total cost often comes down to more than the sticker price. You’ll also need to factor in your monthly payments and interest if you plan to finance, your title and registration fees, and taxes.
Now that you know what you’ll have to pay, it’s time to get your entire budget into order. Experts recommend that you only devote 10%-20% of your monthly income to your vehicle. This percentage factors in everything from your monthly payments to gas to maintenance.
Once you know what you can afford, it’s time to find your ideal payment plan. Remember that your monthly payment includes both principal and interest. For a lower monthly payment, you can make a larger down payment, trade in your existing vehicle, or work to improve your credit.
Finally, we recommend using affordability calculators to help you learn what you can spend on your new car. You can find several auto loan calculator tools to help you plan. As always, visit our Fort Myers Subaru dealership finance center for help breaking down your budget and finding your perfect car.