At J.D. Byrider, we try to keep the initial cost needed to get the keys to your vehicle low. Cars break down without warning, leaving you with no vehicle to get to where you need to go. This also leaves you with the trouble of having to buy a replacement quickly. We know you don’t always have time to budget when you’re buying a car. That’s why we try to keep your loan and down payments low.
Here are a few ways to get the most out of your budget.
1. Take Control of Your Budget
To control your budget, you first need to know what it is. Write down every source of income you have, from jobs to child support payments, on the left side of a piece of paper. On the right side, list everything you spend it on, from your usual morning coffee to your cell phone bill. By adding up the right side and subtracting it from the left side, you can see how much you should have left every month.
2. Avoid Extra Expenses
Crash diets never work. In the same way, neither does cutting out all unnecessary spending. Keep things you get the most pleasure from that cost the least. But cut big budget items or the little things that add up but don’t add to your happiness.
3. Keep Your Favorite Indulgences
Some things can make or break a week. For example, if you treat yourself to fast food once a week, don’t skip it to save up money for your used car. The enjoyment you get from it is worth the money you’ll spend. But, if you’re hitting the steakhouse once a week, you may consider cutting back to once a month as a treat.
4. Create a Social Schedule
Most social events cost more money than you would spend on yourself. Plan a list of activities you can do that won’t cost much money. For instance, meeting for coffee instead of dinner or having a game night instead of going out for a movie.
5. Have a Goal
It’s easier to save money and say no to extra spending when you have a clear goal in mind. For you, it may be a reliable used car. Visualize yourself in the car whenever you’re tempted to spend a little extra money. Weigh whether delaying that goal is worth the treat you’re considering.
If you come to J.D. Byrider for a used car, one of the first things we’ll ask you is how much you’re budgeting each month. We won’t try to get you to spend more each month than you should. Our no-haggle pricing and company policy prevents that.
Instead, we try to find you the right car with the right payment for you. Our inventory is full of makes and models at all different price points. We’ll use your budget to help you find a car you can afford.
If you’re not sure about how to come up with your used car budget, start here:
- How often you get paid
- If you have any other sources of income
- How much your rent/mortgage costs
- How much your insurance costs
- How much you spend on food
- Your recurring monthly expenses (like medical bills, medication costs, credit card bills, child support, etc.)
- How much disposable income you need to do the things you enjoy
- If you want to trade in your current car for another car
How much should you spend on a car?
It’s important to set your sights on a car you can afford. Your success is important to us, and we want you to find the right car that matches all of your needs. We’re here to help make sure you get into a car that matches your needs. You can trust us to not sell you a used car that you can’t afford.