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If you have confirmed that a vehicle is indeed a necessity, you need to make some
decisions about the type of car you want to drive.
- Is owning a high-end vehicle important to you? Perhaps you would rather put
the extra money towards savings or investments.
- Decide on the make, model, year, horsepower, gas mileage, and options to suit
your type of driving. For example, a small compact car may be easiest to park
and manoeuvre, if you do mostly city driving. If you spend much of your time
on the highway, gas mileage and horsepower are higher priorities.
- Consider how much you can afford and how much you will be willing to pay for
your vehicle. Setting your maximum price will help keep you on budget.
- Calculate how much the vehicle will cost, including any payments you may have
to make, taxes, interest, fees, etc. You will also need to determine fixed yearly
costs (insurance premiums and registration fees), as well as daily operating
expenses (gas and parking). You will have to estimate costs for maintenance,
such as oil changes, filters, batteries, tires, antifreeze, tune-ups and any repairs
that may be needed.
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