At Land Rover Waukesha, our Range Rover finance team is passionate about finding a plan that works for any driver. With these tips, you can find out how much you can afford to spend on your next great drive.
The 20-4-10 Rule
If you haven’t settled on a vehicle yet, you can use the 20-4-10 rule to get an idea of how much you should plan to spend. You should aim to spend at most ten percent of your income on your monthly payments on your new car. This is just a rule of thumb, so if you have more monthly costs or existing debt payments, you may have to aim lower.
Do the Math
Writing out your budget, either longhand or using a computer, is a great way to get a picture of what you can afford. You can use an Excel spreadsheet or an online tool like YNAB and Goodbudget, but you can also work it out on paper if you want a quick estimate. Don’t forget to factor in taxes, fees, and other additional car purchase costs.
Factor In Additional Costs
When budgeting for your new car, don’t forget to factor in the costs of gas and service. Your regularly scheduled service visits won’t start for a little while, but you should have an idea of how far you will need to drive and how often you’ll need to fill up. The Land Rover Prepaid Maintenance Plan makes it easy to estimate how much service will cost, giving you a range of regular services for one low price.
Apply for Range Rover Financing in Waukesha, WI
Our expert team at Land Rover Waukesha makes applying for Range Rover financing easier than ever. Visit our Land Rover dealership and take a test drive, then talk to our team about our financing plans today!