The car is the consumption desire of a large part of the population. But the point is that transforming this intention into reality can involve a journey, and, as with any trajectory, it is necessary to start with small steps.
- Know Your Expenses
A car is a high value-added good, which requires resources not only to be paid off but also to be maintained. With this in mind, consider: Is your financial life organized enough to give you the freedom to make a big purchase? To arrive at that answer, you need to make a fair assessment of your wealth and income. So, find out exactly where your money is going.
The best way to do this is to catalog and organize any expenses you incur during the month. Start by writing down fixed and predictable costs, such as paying rent, you’re spending on public transport, and paying off your electricity, water, and internet bills.
Then analyze specific areas. So, in the food category, make a note of your spending on purchases for the month and meals eaten away from home — from weekend pizza to snacks bought at the bakery next to work. Also, specify your leisure expenses, such as paying for concert tickets or subscribing to streaming movies or music services.
Finally, survey your outstanding debts: credit card, overdraft, personal loans, financing. It is essential to make a hierarchy of these pending items according to some criteria, starting with the interest rate, going through the monthly installment, and going up to the total amount due.
After making this complete diagnosis of your financial life, you will know very well what percentage of your salary goes to essential bills, what portion is used to pay debts, what amount takes care of food and transport, and so on. On.
With this, it is possible to see in which areas of life you are spending more than you should, which will open a window for adjustments.
- Choose The Best Time
Then, consider whether you’re at the right time to buy a car or whether your priority is still in other stages of your growth — paying for college, for example. However, it’s worth remembering that it’s not because you can’t buy a vehicle now that you shouldn’t start saving to do it anytime soon, right?
Now that you know what the initial steps are to accomplish the goal of the first car, we can go ahead and talk a little bit about choosing the car itself. That is, we can assess which models and features make — or do not — sense to you.
- Check The Budget
After evaluating your needs, it is essential to check the budget available for purchase not just for the car but for those Selling Car Plate Numbers (ขาย เลข ทะเบียน รถ which is the term in Thai). After all, difficulties in paying for the vehicle can bring many financial and personal problems. It is recommended that the installment value refers to, at most, one-third of the income. However, as this value is relatively high, it is interesting to carry out simulations in the most varied forms of payment to guarantee the lowest interest rate and the greatest comfort.