Buying a vehicle is a significant investment, and it’s beneficial to determine whether you are financially stable before visiting a car dealership. That’s why the team at Dansville Auto Mart in Livingston County, NY, recommends reviewing your financial status before visiting their showroom to check out the array of used cars.

You Don’t Use Credit for Necessities

While having a credit card is integral to building your credit score, don’t use it to cover necessities if you don’t have enough money in your checking account. Credit cards should also be paid in full every month to reap the greatest reward. If you are using credit to cover daily expenses and failing to pay the total bill each month, you might want to put off your visit to the car dealership.

Your Checking Account Is Never Overdrawn

An overdrawn checking account is a clear indicator of financial instability. It also shows you’re living beyond your means, and adding a car payment into the mix will only make matters worse. Instead, always have a certain amount of money in your checking account to ensure you can cover emergency expenses and not have to dip into savings.

You’re Able to Save

To buy a new car, you need an income that is allowing you to save each month. If a car payment would hinder your ability to save, hold off on purchasing one for now. Savings are crucial for covering big purchases, as well as being properly prepared for retirement and other important life events. 

You Pay Bills on Time (or Early)

Being late on bills is also an issue. Those with stable finances always pay their bills on time or even early in some cases. Paying bills late or not at all can hurt your credit rating while also making it difficult to take on new expenses.

You Live Within Your Means

Most financially stable people live within their means. This means refraining from spending money on unnecessary luxury items that can quickly incur greater costs than you realize. Instead, ensure you have the basic necessities without engaging in frivolous spending.

When you’re in the market for a used car, Dansville Auto Mart is the top choice for an expansive selection of quality vehicles. Visit the car dealership yourself or call (585) 335-8280 to learn more. You can also use the convenient online contact form for more information on how you can discover the car of your dreams.