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In order to reestablish your car credit, you need to make your monthly payments on time. But there are more expenses than just the monthly payment to consider when choosing a vehicle.

The first is insurance. Lenders will require a financed vehicle to have full coverage auto insurance - additional coverage that includes insuring it against collision and comprehensive damage. If you currently have full coverage insurance and the car you plan on buying is newer than your present vehicle, the monthly cost will probably increase. This is because newer cars usually cost more to repair and replace.

A second monthly expense to consider is fuel economy. A sport utility vehicle may be your dream car, but they 're not only expensive, they also get poor gas mileage. By setting your sights on a small or midsize sedan, you can save money on fuel costs and keep your overall monthly expenses at a more reasonable level.

Lastly, keep in mind the maintenance costs for your next vehicle. if you 're buying a new car, be sure to check the length of the new car warranty. If it doesn 't cover the entire term of your finance contract, you may want to consider an extended service contract.

If you 're buying a used car, an extended warranty is almost a "must have " unless you are able to set aside funds each month for unexpected repair bills. Buying the extended warranty means you 'll need to budget for the increase in your monthly payment, but if a major component on your car fails, you 'll be glad you have it.

Insurance, fuel and maintenance costs are all things that need to be included in a monthly vehicle budget. If you don 't, you could run the risk of stretching your budget past the breaking point.

Auto Credit Express has helped thousands of people with bad credit buy cars and re-establish their car credit at the same time. If you have less than perfect credit, and need an auto loan, visit us at AutoCreditExpressVideo.com to find out how we can help.