What Should Your Allowance Be with Certified Used Cars?
As more and more people are turning to financial experts these days to evaluate their spending habits and make necessary cutbacks, certified used cars look more appealing. A recent question to a financial advice blog in Cleveland asked if 10 percent was an acceptable allowance for vehicles. The answer might surprise you.
The answer was based on a $50,000 annual income. I think it’s safe to say this is a stretch and that most people don’t make that much. For argument’s sake, we won’t consider income taxes on that figure. When you divide that by 12, that leaves a little more than $415 per month allotted for the car.
Sounds good, right? Not.
Did you consider insurance? That’s probably about $100 a month. Did you consider gas? Depending on your commute, that could be a good chunk of money. Let’s figure $150 a month for gas. That leaves about $165. That’s not bad. But you haven’t accounted for repairs and maintenance either. By the time you’re done, you’re not left with much for your payment if you only allocate 10 percent of your income.
But you can get the biggest “bang for your buck” by investing in certified used cars. That way, you don’t have to worry as much about repairs and such and you can drive around in a quality vehicle. While you’re at it, check out the certified Mercedes vehicles at a dealer near you!
Filed Under: Mercedes-Benz Vehicles
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Wow this is a good post, an eye opener many a times we never look into matters deeply and just buy cars, later when the time comes to pay it becomes an hell. This tips would really be useful for mercedes lovers.