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These prized possessions go for multiple thousands of dollars and cost more in maintenance costs. Check and confirm if you can afford your car’s insurance premiums and maintenance fees for the high-performance engine. Therefore, before signing between the dotted lines, align your finances with your desires and reality.
Making the right choice could have lasting effects on your daily routine, finances and overall quality of life, whether you’re new to car buying or an experienced veteran. On the other hand, used cars offer more budget-friendly entry points, but they may require more maintenance.
While these might carry a higher initial cost, they often offset this with lower maintenance and fuel costs, as well as tax benefits and grants available in some regions. Alternatively, financing allows you to build equity in the vehicles, potentially leading to ownership and a lower total cost over the vehicle’s lifetime.
Additionally, be sure to set a budget that covers the purchase price and other costs like insurance, maintenance and fuel. Dealerships may offer incentives, promotions or financing options to sweeten the deal further. This can be particularly advantageous if you’re open to exploring both new and used vehicles.
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