MSN.com says prospective car buyers shouldn’t take out a loan where the monthly payments exceed 20 percent of your monthly take-home pay. You can use resources like a car loan calculator to determine your car budget based on your down payment, interest rate, loan term and desired monthly payment.
Consider Your Family’s Fit
Next, determine the fit of a vehicle with your family. A four-door sedan, for example, might be a great car for families with two small children. But if you’re toting around five kids, or plan to in the near future, a sedan won’t cut it—you’ll probably need to look at a van or SUV.
At the same time, you need to consider your own comfort and how you would enjoy using the vehicle. Do you prefer the automatic-sliding doors found on most vans? Is personal space and legroom a priority? Perhaps more importantly, is there room to grow?
Parents also need to look at used cars or new vehicles that offer plenty of trunk and cargo space, particularly if they’re lugging around strollers. The Honda Pilot, Toyota Sienna, Buick LaCrosse and Nissan Quest offer this feature.
On the other hand, families with several children or parents who embrace a soccer-mom lifestyle (by carting mobs of children to and from activities) might value seating space more than storage. For those families, there’s the Chevrolet Suburban, which seats up to nine passengers, and the Honda Odyssey, with seating for eight. Both have attractive amenities like climate control and compartments to store drinks and snacks.
How do you Plan to use Your Vehicle?
Lastly, the intent for your vehicle could influence which one is right for you. Short trips here and there are much different from long, cross-country drives to see relatives. Similarly, if you want to take on the soccer parent mantle and become a pro bono chauffeur for your kids and their friends, a large passenger space might be ideal. And don’t forget car specs like fuel economy and how that might influence your decision.
If you plan on driving long distances, a more fuel-efficient vehicle will save you big money in the long run.
How to Choose Your First Family Vehicle was originally published on EverydayHowTo.net and should not be republished without permission.