Get a Balanced Budget With These Tips


Did you know that experts recommend spending 20% or less of your take-home pay on a car payment? Balancing your budget is a critical first step to car ownership, regardless if you’re buying a used Subaru Impreza or a newer model. Our team at Herb Gordon Subaru near Rockville offers these tips for planning for a new car.

Balance your budget

Figure out how much to spend before you spend it. Do this by adding up your monthly bills. Then estimate your expenses for food, household essentials, and other items like entertainment. Don’t forget to calculate annual costs, like subscriptions, into your monthly budget as well. Next, add up the costs associated with car ownership.

  • Vehicle insurance

  • Gas and maintenance costs

  • Registration and licensing fees

Subtract these totals from your take-home pay and see what you have left over.

Calculate your financing needs

Not only does the cost of a used Subaru Impreza vary, but so does your loan costs. To get a reasonable estimate of what you’ll pay for a new vehicle, it’s essential to get an accurate picture of your credit and financing options. Start by checking your credit score. Then decide if you’ll trade-in your current vehicle or put down money on your loan. Both options lower the amount of financing required. You can use online tools to help you figure out your payments.

  • A trade-in calculator estimates what your car is worth.

  • Payment tools show you what a monthly payment for your chosen vehicle looks like.

  • An online finance application so you can apply from the comfort of your home.

Get financing help at Herb Gordon Subaru

If you have questions or are ready to test drive a used Subaru Impreza, then call Herb Gordon Subaru near Rockville. Our team helps you secure the financing you need and find an SUV that fits your lifestyle.
Categories: Finance, News
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