If you’re in the market for a new vehicle, you should determine what you can actually afford and understand the total costs involved.
Consider the following factors when calculating your car budget:
The Total Cost of The Vehicle
The total cost of your vehicle is more than just the sticker price; it also includes things like sales tax, title and registration fees. Remember that you will also need to have money to pay for auto insurance, gas, regular maintenance, repairs, and other costs associated with owning a car.
How Much Can You Afford Each Month?
If you’re financing a vehicle, then you’ll need to figure out how much of a monthly payment you can afford. Keep in mind that your monthly payment will include both principal and interest. The loan term, interest rate, and down payment will all affect your monthly cost.
How Much Can You Put Down?
Most vehicle purchases are made with a down payment. The more you can devote to your down payment, the lower your monthly car payment will be.
The 10%–20% Rule
To avoid overextending your budget, devote only 10% of your income towards your vehicle. This means if you make $3,000 per month, you’ll want to spend $300 per month on your car payment.
If you’re not planning on financing your new car, then the 10%-20% rule still applies. You’ll want to take 20% of your annual income to determine what you can afford to spend on a vehicle. For instance, at $36,000/year, you’ll be able to spend $7,200 yearly on your vehicle ($36,000 x .20 = $7,200).
Factor In Your Debt
If you currently have a lot of debt, there is a simple rule to follow. Consumer Reports found that it is best to spend no more than 36% of your gross monthly income on debt. Itemize what all of your monthly debt payments add up to, including mortgage, credit cards, and loans. Once you’ve totaled those, subtract them from 36% of your income to determine how much you can realistically add. For instance, if your income is $3,000 per month and you already spend $800 per month on credit card and loan payments, you can only afford a new monthly auto loan payment of $280, calculated as ($3,000 x .36) – $800 = $280.00.
If you’re in the market for a quality car, please browse our inventory today! Our dedicated team will work with you to finance a vehicle you can afford, even if you have credit issues! Click here to get approved today!
Having trouble securing an auto loan to buy a car? When other dealerships turn you away, Buy Here Pay Here (BHPH) dealerships like Drive Casa can help you finance a great quality vehicle!
What Is a Buy Here Pay Here Dealership?
Unlike traditional dealerships, Buy Here Pay Here dealerships finance everything in house. This gives them the ability to work with people from all credit backgrounds.
Drive Casa Benefits
A Buy Here Pay Here dealership like Drive Casa allows you to get a loan immediately. You don’t have to wait for the bank to process your application and you don’t have to apply with multiple lenders.
You, not the bank, can set your terms of repayment. If you want a seven-year loan, or even a nine-year loan, you can let us know and we will create a loan that is based on what you need and can afford.
Vehicle History Report
If you’re like most, you want to know if your vehicle has been in any accidents, totaled or had flood damage. We can confidently say we do not sell any pre-owned vehicles that have been damaged. This is why we provide a Vehicle History Report on every car we sell.
All of our vehicles go through a multi-point inspection before they are available on our lot. If they do not pass our rigid guidelines for safety and quality, we either get rid of the vehicle or do the repairs to make sure you and your family can safely drive home.
We also offer a 12 month, 12,000 mile warranty on all of our vehicles.
Complimentary Oil Changes for the First Year
No need to budget for oil changes anymore, we have you covered! Get oil changes on us every 3,000 miles or 3 months for the first year!
Drive Casa Qualifications
At Drive Casa, we understand tough times happen in life. That is why we do our best to help people from all credit backgrounds finance great quality vehicles. In order to do so, we have certain qualifications that have to be met before we start the approval process.
To finance a vehicle with us, you must bring the following things:
- Proof of Address
- Proof of Income
Acceptable Proofs of Income Include:
- Two most recent pay stubs
- Bank Statement with your name/bank name/bank address
- Documentation of social security, disability, or child support
Acceptable Forms of Identification Include:
- Any state issued ID (Excluding LA)
- Driver’s license
Acceptable Proof of Address Includes:
- Mail with name and address on it
- Lease agreement
- Phone/utility bill
Why Choose Drive Casa
When every traditional lender turns you down, Buy Here Pay Here dealers like Drive Casa can help put you behind the wheel. If you think a Buy Here Pay Here dealership is a good fit for you and your circumstances, click here to browse our inventory today or call us at 844-487-3650 for more information!
Dining out with kids isn’t always a fun proposition, but breakfast can be a great time to go to a restaurant with the whole family! Kids tend to be less cranky earlier in the day, and morning menu offerings suit even picky palates. Keep these family–friendly breakfast spots in mind the next time you visit one of our locations!
If you’re visiting our Buckner location, we recommend you stop in at Tejano’s Diner just a block away!
Although this restaurant does not have a website, it does not need to be overlooked according to all of the positive Facebook reviews!
We recommend ordering “The Grove Special”, which includes two pancakes, two eggs, two sausage links and two strips of bacon. Other menu options include chicken fried steak and grits!
In addition to the family-friendly atmosphere, this restaurant is very affordable with menu prices starting as low as $2.99 for a full breakfast!
If you’re one of the many that are still mourning the end of HGTV’s “Fixer Upper”, this is the restaurant for you! The show, which was based in Waco, followed husband and wife duo Chip and Joanna Gaines as they renovated houses all over the community.
We recommend trying the signature golden-brown biscuits (served with a side of strawberry butter) as well as the “Farm Breakfast”, which includes two eggs, homemade tator tots, and a choice of bacon or sausage. Other popular menu options include fluffy pancakes, French toast and garlic cheese grits.
The Dallas Diner has been a landmark in the community since 1982 and includes delicious menu options such as the breakfast taco, chorizo burrito and signature omelets. We recommend trying the “Omelet a La Casa”, which is made up of onions, tomatoes, jalapeno and ranchero sauce.
To see the full menu, please click here!
Visiting our Marvin D. Love Hwy location? You have to stop by Norma’s Café, a restaurant opened in 1956 that is known for its amazing home-style country breakfast options! The food and atmosphere will take you back in time and create a great memory for you and your family.
We recommend trying the “Norma’s Café Favorite”, which includes two eggs any style, hash browns or grits, buttermilk biscuits and your choice of ham, bacon or sausage. Other options include “Migas” (Scrambled eggs with tortilla chips, jalapeño peppers, tomatoes and onions and cheddar cheese), breakfast tacos, pancakes, French toast and waffles.
To view the full award winning menu, click here!
Have any other family friendly breakfast places that you love? Tell us in the comments below!
The bold Texas sun can damage your car’s paint job in a matter of just a couple years. This decreases the value of your car and also makes the car look lackluster, and dull. To avoid sun damage and keep your paint job shiny and new, follow these four steps!
Wash your car often, cleansing it of the grime and pollution that can get baked into the paint. To do this, purchase a soft cotton mitt to prevent scratches, and an automotive cleaning product. Do not use dish detergent because it will strip your paint job overtime. Also, do not wash your vehicle in direct sunlight or it will dry the car in uneven places and leave streaks. Even if you have dead bugs or other tough deposits, never scratch your car! Use a clay bar instead. It will quickly and efficiently get rid of those spots without leaving a scratch behind.
Make sure you dry your car thoroughly with a cotton rag or towel of some sort. Some people think drying a car isn’t necessary, but when your car dries on its own, minerals from the water evaporation process can build up and damage the paint job over time. The sun can also cause streaks in the paint if the car is not dried all over.
To really protect your car’s paint job, try waxing it with a liquid sealant. This is a much quicker and more effective way than dry waxing. Waxing protects the paint from most pollutants, and also fights off UV rays. It basically acts as sunscreen, but for your car. If you choose not to wax, grime could build up and end up damaging your paint job.
Purchase Protection Film
Lights can become yellowed and grimy from the Texas sun. There are multiple ways to fix this, but to prevent it, try an auto pain protection film. This translucent film can also cover your whole car if you wish. It acts as a direct barrier against the sun.
No car is immune from the damaging effects of the sun, but with these steps you can make the value of your car last a lot longer by protecting its paint job! Try them out!
Is it really possible to get better credit by financing a used car? The answer is yes! When you’re struggling with credit issues and know you need a better car, it’s easy to feel hopeless…But there is hope! Here at Drive Casa, we are a Buy Here Pay Here dealership that specializes in financing those who don’t have credit or have bad credit. Continue reading to learn how buying a used car can improve your credit over time!
Establishes a Line of Credit
If you don’t have any credit built up, financing a used car can help establish a line of credit! As long as you are proactive with your payments, your credit will build overtime.
Pay On Time, Every Time
Paying loans like mortgages, student loans, or car loans on time can increase your overall credit score greatly! We will work with you to find a car payment that fits your budget so it’s easy for you to make your car payment on time each month.
However, if you do not pay your car note on time, it can decrease your credit score.
Check Your Credit Score
When you apply for an auto loan, we’ll go over your credit report with you to make sure everything is accurate. The Federal Trade Commission has found that 5% of consumers have mistakes on the credit reports that affect their overall credit score. You can contest errors that you may find on your credit score. It is important to make sure that your credit report is accurate, removing any errors can improve your overall score.
Is it time for you to purchase another vehicle? Continue reading to find out! If any of the below apply to you, then it’s probably time to go car shopping!
Your Trips to the Auto Repair Shop Are More Expensive
You always take your car in for regular oil changes and maintenance, but now you notice those trips are getting more expensive. At around 120,000 miles, cars begin to show their age by needing new timing belts or water pumps, among many other potentially expensive repairs. Putting that money into a good used car might make better sense than spending $1,000 each time you drive to the repair shop.
You Doubt the Reliability of Your Car
When you get in your car and pray you make it each time you head to a destination, it’s a sign that it’s time for another car. You’ll save yourself some stress when you know you have reliable transportation.
You Are More Safety Conscious
If you’re driving a car that is old and has minimal safety features, it may be time to upgrade. Modern safety equipment on cars include driver, passenger, and side airbags, as well as anti-lock brakes and traction control. Upgrading to a newer car is one way to keep you and your family safe on the road.
Your Finances Change
That SUV you bought when you were making six figures may be tough to afford once your finances have changed. This has been the case for many Americans in the past few years. Until you get back on your feet, trade it in for something that better suits your new budget. Stop making those high car payments and keep some of it for those essentials you need to cover right now.
You Need to Build Up Credit
If you have had difficulty with your credit, such as a bankruptcy or late payments, then buying a used car can help. Used car dealerships, especially Buy Here Pay Here dealerships like ours, specialize in helping people with credit problems. We can help you finance a great quality vehicle when other dealerships will turn you down because of your credit. As long as you pay your car payment on time each and every month, your credit will build overtime!
Your brakes are one of the most important aspects of your car for obvious reasons, but how do you know when it’s time to get a brake check up or new brakes altogether? Continue reading to find out!
Brake Warning Signs
Do you hear strange noises when you hit the brakes? Whether you’re hitting them hard or not, if your vehicle makes a strange noise once the brake pedal is lowered, it’s a sign that your brake pads are worn out. When this occurs, it means that your brake pads are so worn down that the rivets they are attached to are rubbing on the rotor, causing damage inside your hood. The only way to fix this issue is to take it to the shop!
Are you noticing a difference in height of your brake pedals? This may mean that your pedals are sinking into the floor, which will make it even harder for you to come to a quick and sudden stop if you need to. This problem is associated with a poor hydraulic connection, meaning that if your master brake cylinder could be about to break.
Go With Your Gut
You are used to driving your vehicle. If you feel something is different or your car is acting strangely, do not hesitate to get your vehicle looked at. It’s always better to play it safe rather than sorry!
Do you have any questions about vehicle and brake safety? Interested in browsing the cars Drive Casa currently has in inventory? Contact us today and one of our vehicle experts will be in contact with you as soon as possible.
Other than your home, your car might be the most expensive purchase that you ever make! With that in mind, we want to help you get a better quality vehicle for your money! Buying new costs you associated fees and depreciation that could add up to thousands of dollars over the first few years! On the other hand, a “slightly-used” car can help you keep cash in your pocket! Continue reading to learn four more benefits of buying a used vehicle over a brand new one!
1. Less Depreciation
Did you know that a new car loses thousands of dollars in value the moment you drive it off the lot? It’s true, and it’s why used cars are WAY better deals.
If you buy a car that’s one or two years old, it’ll still depreciate, but you’ll lose less money less quickly. And you’ll avoid that big initial hit that the previous owner took.
2. Sales Tax on New Cars
Every ad for a new car glosses over the tax issue. Many state laws subject new cars to state sales tax, but not used cars. Comparatively, the sales tax that dealers have to add to the price of a new car can be thousands of dollars. Don’t underestimate the savings, and research your state’s laws on the subject before you make a decision.
3. Registration Fees
In most states, the rate of your annual registration fee is based on your car’s value and its model year. In most cases, the rate is highest in the first three years, and then levels off after five years. If your state has similar rules, you can save about a thousand dollars by avoiding the new car registration fees and buying a car that’s at least three, or better yet five, years old.
Nowadays, cars are built to last for at least 100,000 miles, so you don’t have to sacrifice reliability and overall condition just to get a good deal on a used car. You can get a used (or “pre-owned”) car that’s scratch-free and in excellent mechanical shape. In fact, if you know anything about cars, you should be able to find one that is in “like new” condition.
Many will argue that new cars are more reliable, come with great warranties, and have updated tech and safety features. Others will say that if you buy used the purchase price won’t be nearly as expensive.
But, what about used trucks? While there are upsides and downsides to buying a used truck, there are three main reasons why buying a used truck is better than buying a new one. Continue reading to learn what they are!
Trucks are expensive, many of them have a starting MSRP of around $40,000 if you’re looking for a full-size version. This is not the case with a used truck, though. A used model is significantly cheaper, thanks to depreciation!
A More Durable Design
Reliability and durability are two different things, and with some of the trucks today, durability has gone downhill.
For example, a new F-150 is made mostly with aluminum. The frame isn’t, but most of the body is. This not only compromises the truck’s integrity, but it also compromises its safety.
But a used, older F-150? Those were made of steel.
Used Doesn’t Mean Old
Just because you buy used, doesn’t mean you’re purchasing an old vehicle! For instance, here at Drive Casa, we have used trucks and vehicles that are only a couple years old!
It’s tax return time! For some, that may mean paying down credit cards, while for others, it means putting it towards savings. No matter what you choose, you will want to ensure you’ve considered your options before making a final decision. Here’s a look at four ways to use your tax return!
1: Pay Off Your Debt
Having high-interest credit cards or loans can prohibit you from saving for the future. Using a tax return to pay down your debt may help you get caught up, according to Forbes. However, be sure to focus on loans bearing the highest interest rate — if you are currently on track with your payments, and the loan has a low interest rate, it may make more sense to allocate the money elsewhere.
2: Save For A Rainy Day
Even if you already have funds in a savings account, will it be enough if an emergency arises? You should have an emergency fund equal to at least three months’ worth of expenses saved, just in case, says The Balance. If you find that you’re behind on savings, consider depositing your tax return into your savings account.
3: Save For Your Child’s Future
Another way to put your tax refund to work is to start saving for your child’s education, or even your own. A 529 savings plan may be a good place to start, says U.S. News. You will have a few different options to consider, as you can typically choose between a a prepaid tuition plan or an education savings plan, according to the U.S. Securities and Exchange Commission — and both plans may offer you some tax benefits.
4: Invest In a Vehicle
If you need a new vehicle, it may be smart for you to use your tax return money as a down payment. This will lower the monthly payments of the vehicle significantly. It would also save you more money to purchases a gently used vehicle rather than buying a new one. Here at Drive Casa, we have a wide selection of great quality cars! To browse them, please visit our website.
Choosing how to spend your tax refund can be an important part of planning for your financial future. By considering and researching your options, you can choose how to put your refund to use in ways that work best for your lifestyle! How do you plan on using your tax refund? Tell us in the comments below!