1. Your financial capacity
You can easily determine your ability to handle the payments involved in a vehicle loan by checking your monthly take home pay as well as the average monthly expenses that you have. Take your monthly income and deduct the expenses that you have for each month and take note of the remaining amount. In case the remaining amount is sufficient enough to accommodate a new financial obligation, you can look for a loan that would be used for purchasing a new car. However, if you found out that the remaining amount is not enough to cover that loan payments that you would incur, do not hesitate to postpone your plan of getting a vehicle loan. This would surely place you in a tight financial situation.
2. The price of the car