A realistic approach to car finance 'is the right one'
28/03/2008
Car finance customers have been advised that they need to be realistic about buying a new or used car.
According to the US Marine Corps website, financial expert Craig Hughes states that a thoughtful approach, considering all the costs associated with running a vehicle, is essential for those wishing to save in the long-term.
He states that a failure to take into account these things when taking the initial steps towards car finance can be damaging to a drivers "financial health".
"The first step to purchasing a car is to make a budget and estimate how much you can afford to spend on a vehicle … budget in the true cost of a car - which factors in extra expenses like insurance, gas and vehicle maintenance," he said.
Depreciation is also something that should be considered in advance, he concludes. Adding that new cars depreciate quickly but will be well maintained providing car loans customers can strike the right deal on the forecourt.
