Establishing NEED's versus WANT's

Your one minute decision lasts as long as you own the vehicle 

Hopefully, you've careful examined your current available finances and you truly NEED and WANT the vehicle you are buying.

If you start missing automobile payments it will lead to a poor credit rating, eventually the lien holder will repossess the automobile, and your regret for buying something that doesn't suit you is compounded by your damaged credit.

Some buyers will stop making a car payment out of dissatisfaction with their automobile. We often wonder if people think that if they just stop paying for their vehicle the problem will just go away.

"I'm not paying for this thing! I got ripped off when I bought it, and I'm still paying".

Whatever your feelings may be regarding these unfortunate scenarios. If you truly need your car and make a wise purchase you will never feel comfortable skipping a payment.

• Avoid being forced to make consistently late payments or having an automobile repossession on your credit report.make sure you can afford the vehicle of interest.
• Avoid having to trade a car back in and taking a big hit on lost value.make sure it matches your needs, and it is something you want.

 

If not, forget it and move on.Write out a list that you can actually see (not just thoughts in your head).Ask questions such as:

How many people do we need to seat in our vehicle?

What can we afford each month or week on the gas expense?

Can I make do with a 6ft bed versus the 8ft bed on the pick up truck?

How much will the insurance be?

Do I/we need a sedan or will a coupe be sufficient?

What is my/our monthly budget for a new vehicle?

Do I/we actually need four-wheel drive (or all wheel drive)?

Can I/we do without power seats & lumber support?

.and so forth.

There aren't any questions we could pose that suit everyone. Just know what things are important to YOU.the things that affect your daily lifestyle and your monthly budget.

And be sensible: There is nothing wrong with knowing that you want a "4 door" so you can impress other couples on dinner outings. Just make sure the monthly payment doesn't force you to cut "eating out" from your budget (or whatever little pleasures you enjoy in your budget).

We all have emotional reasons for doing things. If you can admit that something is a "want" you'll buy with a little more common sense.and you might be surprised what you can afford after you get what you need.