Getting Started: When to Buy a New Car
Whether you choose to buy new or used, upgrading your Los Alamos adventures can feel like a big financial risk. Thankfully, there are a few questions you can ask to figure out when the time is right:
- Are your spending more on repairs than I would spend on a new car payment? Repair costs grow exponentially as time goes on, and in some cases, choosing to drive a new car will help you save money in the long run.
- Have you ever felt unsafe behind the wheel? You spend hours and hours behind the wheel every year. Don’t sacrifice your peace of mind. If sitting down in the driver’s seat has ever caused you stress, it’s definitely time for an upgrade.
- Are your needs changing or evolving? You may love the car you currently own, but it’s important to be practical. Take the time to assess your needs regularly, and understand how life changes will impact the demands you make of your vehicle.
Making a Budget That You Can Stick To
Financial experts recommend that you spend no more than 15% of your income on your auto payment and associated costs. If you have an unusually high debt burden already, you may seek to spend even less. Here’s what you should keep in mind while you’re making your budget:
- Choose the right path. Leasing allows for lower monthly payments in the short term, but buying could help you save big down the road. Compare buying vs. leasing with our team to learn more.
- Don’t forget your other expenses. When you’re making a budget, remember to factor in repair costs, regular service visits, fuel costs, and more. You’ll also want to pay attention to insurance costs and other options.
- Search for the lowest price. Special offers and incentives make it easy to save! Before you finalize a budget, make sure to look for discounted new and used vehicles near Los Alamos.
Need help getting started? Take advantage of our car payment calculator to estimate your monthly payments and interest costs. If you want to bring your price down, find out how much you could get for your trade-in!
Taking the Next Steps, with Lexus of Santa Fe
Now that you have an idea of how to make your budget, it’s time to start your search! Make a list of your needs, pick out some of your favorite models (and model years), and start your search with Lexus of Santa Fe! Our financing department will help you work out all the details.
Whether you’re searching for new cars or used cars, you’ll love the Lexus selection on our Santa Fe lot.