EXPERT TIPS ON BUDGETING FOR YOUR DREAM CAR

Determine how much you can afford

First things first, it's always important to be mindful of your financial situation and figure out how much you can actually afford. Yes, buying your dream car can be seen as a special treat, but this doesn't mean you should break the bank or end up struggling with the repayments.

To identify the right price range for your pockets, the first step you should take is to review your finances and have a comprehensive idea of how much you can feasibly spend.

Start by adding up your monthly income, such as salary and any additional money you receive. Then, make a list of all your expenses, from rent and bills to food shopping and general living costs, and subtract them from your earnings. This will give you a clear picture of how much money is left for your future car investment, allowing you to determine the amount you're able to put aside for your dream vehicle.

Factor in additional expenses

As well as considering the car's purchasing price, make sure to factor in all the additional expenses that come with owning a vehicle.

For example, you may want to note down fuel or recharging costs, maint...