Are you currently in the process of saving money for a new Mercedes-Benz car or SUV? Whether you’re a first-time or seasoned car buyer, it’s always best to make and stick to a budget so you know exactly how much you need to save. Many drivers may not know where to start, which is why the staff at our Mercedes-Benz finance center has put together a quick guide to help.
Step 1: Set Your Maximum Price
Start by calculating the percentage of your annual income that you’re willing to put toward a vehicle; many people tend to spend somewhere between 10%-20% of their annual income. By setting a limit for your budget, you’ll be better prepared for the shopping and overall buying process.
Step 2: Find the Total Price
Now that you have your maximum, you can compare it to specific Mercedes-Benz vehicles for sale. To calculate the total value of the vehicle you’re interested in, however, you need to factor in more than just the sticker price. “Total” price also includes registration, insurance, sales tax, and the vehicle’s title.
Step 3: Determine the Monthly Payments
Of course, you want to comfortably afford your monthly payment. Take into account the costs of fuel and maintenance in addition to the monthly cost of your new or pre-owned Mercedes-Benz. To help offset the price of a new vehicle, consider trading in your current car.
For more information, contact us today at Mercedes-Benz of Jacksonville. We’re your number one source when it comes to new and pre-owned Mercedes-Benz models, customized financing options, and reputable service and repair. We look forward to working with you soon!