How to Buy a Car When on a Budget

If you are in need of a new car this year, you may be concerned about how the rising cost of energy, fuel and food will affect your budget. A vehicle is a big purchase at the best of times, but in 2022, buyers need to be even more careful in order to avoid overspending and ensure that they can comfortably afford the cost of a new motor. At Autozone/Car Credit Now, we love helping customers find the right car at the right price, and we hope that this article will give you some handy tips about savvy vehicle buying.

Budgeting for a new car

The first thing to do when you decide to get a new car is to figure out what your budget actually is. You may be tempted to just make a quick guess, but it is really important (especially in the current climate) that you take the time to consider everything that is involved with a vehicle purchase and do the maths properly. If you are planning on financing your vehicle, figure out how much you will have to spare each month. Add all of your fixed monthly expenses together with an average of your unforeseen monthly expenses, and deduct this from your total monthly income. You should also think about the type of car you want to buy and if there will be any difference in factors like tax and insurance in comparison with the amount you are currently paying. Once you have established your budget, stick to it!

Cutting down on expenses

While you are looking at your accounts to work out your budget, it is worth noting what you are spending money on and considering areas where you could make cuts. Cutting down on expenses such as clothing, eating out and recreational activities could save you a lot of money in the long run and these sacrifices will ultimately contribute to a better vehicle. Small changes you can make to help you save for your dream car include switching to a cheaper supermarket, selling unused clothes and other belongings, and finding activities that don't cost anything to replace the ones that do. There are some great budgeting apps available to help you keep track of what you are spending which might be worth looking into.

Choosing your vehicle

You may already have an exact make and model in mind, or you might be open to suggestions, but when you are choosing a vehicle, there are certain factors that will affect the price. It is useful to think about what are absolute ‘must haves’ for your new motor, and what you would be willing to sacrifice for a better price. For example, you may be set on a particular model, but would be happy with a cheaper, more basic trim. Alternatively, you may want the features that come with a top-level trim, but you’d be willing to be flexible with its mileage.  

The knowledgeable team at Autozone/Car Credit Now can tell you all about the mileage and specifications of our high-quality used cars in Barnsley, and our experts will be happy to provide advice and guidance when it comes to budgeting and car finance options. Get in touch to talk to us about budget car buying!