Budgeting for a New Vehicle: How Maryland Drivers Can Plan Their Purchase

August 12, 2022 · 3 min read

Planning for any big purchase is an increasingly important task whether you live in Lanham or Seabrook, Maryland. If you're budgeting for a vehicle, keep these handy tips in mind.

Key Considerations in Budgeting for a Vehicle in Lanham, MD

A central component of any budgeting endeavor is a catalog of your expenses. You should consider costs like total price, fees, financing loans, insurance, and future maintenance for an auto purchase. Take a closer look at some of the top auto budgeting elements.

Price

Several factors impact the starting price of a car, from make and model to year. Comparison-shopping is therefore vital if you have a set price you want to pay. You should also factor in sales taxes for the overall cost. In Maryland, for example, the sales tax is typically six percent.

Fees

Titling and registration are the most common fees associated with purchasing a new vehicle. In Maryland, the Certificate of Title for a new or used vehicle will cost $100. A two-year registration for passenger cars costs $135 or $187, depending on the vehicle's weight. The state also requires a vehicle emissions inspection on most new cars. This test costs about $14.

Financing

Most new car buyers will make their purchases through loans. Your auto loan will be a significant monthly expense, so you must negotiate a good deal. Ideally, your loan will have the lowest possible interest rate attached to it. Other factors that can impact the amount you pay monthly are the down payment you offer and the length of the loan.

A larger down payment and longer loan term will reduce your monthly payments. You can also lessen your payments by trading in an older vehicle. A good rule of thumb is to devote 10 percent of your monthly income to your auto purchase or loan.

Insurance

Drivers naturally want the lowest premiums, but state dictates will influence the coverage you are required to purchase. Maryland drivers must acquire policies that include liability insurance. Specifically, the requirements are bodily injury coverage in the amount of $30,000, $60,000 of coverage for two or more people, and $15,000 worth of property damage coverage.

Additional Costs

Auto costs do not end once you have your vehicle. You'll want to factor in considerations such as fuel costs, parking fees, and future maintenance. Evaluate your daily routine to help determine fuel and parking expenses. Plan on these factors potentially taking up another 10 percent of your monthly budget.

Invest in a vehicle with good fuel efficiency and a strong warranty for the best savings. Put your fuel worries to rest with the zero-emissions Ford Mustang Mach-E. This super-powered auto has a barn-busting fuel economy of 103 miles per gallon. Plus, you'll get a solid five-year, 60,000-mile powertrain warranty and an ultra-useful eight-year, 80,000-mile emissions defect warranty.

Let a trusted team help you balance your budget. Contact the finance department at DARCARS Ford of Lanham and secure a purchase tailored to your needs and circumstances.

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Sep 15, 2023 in DARCARS Ford of Lanham Service

What Are Available Ford Maintenance Plans?

Investing in a Ford Protection Plan will help give you extra peace of mind and safeguard your budget even after the warranty runs out. The Ford Maintenance Protection Plan, Ford Protect Extended Service Plan, Ford PremiumCARE Extended Service Plan, and the Ford Maintenance Protection Plan with WearCare are all designed to help ensure that your car and bank balance stay in the best shape. What Protection Plans Does Ford Offer? The Ford Maintenance Protection Plan The Maintenance Protection Plan is designed to keep your car in tip-top condition and run smoothly throughout its life. Great maintenance should help ensure that the resale value remains high, so it's one of the best ways to optimize your investment. You can choose the extent of your coverage, from two to eight years, and will be covered for: more • Brake pads, linings, and rotors • Oil changes and filters • Tire rotations • Engine belts • Spark plugs • Wiper blades • Shock absorbers Your car will also receive multipoint inspections, and fluids will be checked, replaced, and refilled. All Ford dealers in the US cover the plan, and you're guaranteed Ford-approved parts and service. The Ford Protect Extended Service Plan An Extended Service Plan covers the cost of parts that need replacing through defects or just normal wear and tear. Coverage comes in four tiers: • PremiumCARE • ExtraCARE • BaseCARE • PowertrainCARE Depending on the tier, these plans can provide coverage for the replacement of hundreds or even thousands of components. Electric vehicle drivers can access the PremiumCARE, ExtraCARE, and BaseCARE packages. The Ford PremiumCARE Extended Service Plan The PremiumCARE package is the most popular and comprehensive of the Extended Service Plans. It covers any necessary replacement parts for the engine, suspension, brakes, electrical systems, transmission, and steering and will help protect you from unexpected expense for 10 years, or 170,000 miles. In total, over 1,000 components are included in the PremiumCARE package. The Ford Maintenance Protection Plan with WearCare No matter how carefully you drive, it's impossible to guarantee that your car won't suffer small amounts of damage and wear. For more general protection with a lease, the WearCare plan provides coverage for a certain amount of normal wear and tear that might occur for the duration of your lease. It's available for up to 48 months and will cover missing parts of up to a certain value. Please check your Lanham Ford dealership for additional details. Ford Protect offers numerous other packages that can be tailored to meet your needs and budget, including TheftCARE, WindshieldCARE, and DentCARE, so you're guaranteed to find just the right level of coverage to provide you with both a car that runs perfectly and complete peace of mind. To learn more, stop by and see us at DARCARS Ford of Lanham, speak to our experts at our Ford Service Center, and discuss your precise needs.

Close up of Car Tires rolling | Lanham, MD

Apr 14, 2023 in DARCARS Ford of Lanham Service

Driving in Maryland: What to Do if You Get a Flat Tire

Every driver can expect to experience a few flat tires in their lifetime. There are 220 million punctures annually in the US alone, about one every seven seconds. Punctures usually come out of the blue and surprise us, but if you ever get a puncture in or around Lanham, MD, it doesn’t have to ruin your day. Follow the guidance below, and you should be safely back on the road in no time. What To Do if You Get a Flat Tire in Lanham, MD Stay Calm and Pull Over When one of your tires blows out, it's crucial to react calmly. Don't slam on the brakes, which might cause a skid or rear-end collision. Gradually slow down and get your car safely off the road. Only drive as far as it takes to reach a safe spot away from traffic on level ground. more The Dangers of Driving With a Puncture A punctured tire greatly disrupts a vehicle's handling. Continuing to drive puts you at risk of an accident and irreparably damages the tire, and causes serious damage to your wheels, suspension, and brakes. Only continue driving if you have special tires designed to keep working safely for up to 50 miles, even with a puncture. These run-flat types of tires are becoming increasingly common with modern cars. Option One: Call Roadside Assistance Once safely pulled over, it's time to fix the problem. Hopefully, you've planned ahead with a roadside assistance package through your insurance policy. Roadside assistance might also be included in your vehicle or tire warranty. Once you've called them, wait in a safe area for help to arrive. Option Two: Repair the Tire Yourself If you don't have roadside assistance (or you feel like trying your hand at a little DIY), you can attempt to repair a minor puncture with tire sealant and an air pump. Some modern cars come equipped with a tire inflation kit instead of a spare tire to save space. These repair kits are only usually suited to very small punctures within the tire treads. The kits work first by pumping sealant into the tire and then pumping in compressed air, enabling you to reach your nearest dealership safely. Option Three: Replace the Tire Yourself If you have a spare tire, you can change it yourself or ask a friend, family member, or roadside mechanic to help. Before you begin, turn your car's hazard lights on and apply the parking brake. Use your tire iron on the wheel with the puncture to loosen the lug nuts by turning them counterclockwise. Then place the jack under the strong area of the frame beside the punctured tire. Make sure the jack is perfectly vertical, then raise your car until the tire leaves the ground. Remove the lug nuts and wheel, then slide the new wheel on. Only tighten the lug nuts by hand, lower the car, remove the jack, and use your tire iron to finish tightening the nuts. If you need any advice on how to deal with a puncture, contact DARCARS Ford of Lanham today. We're a local dealership proudly servicing the region's drivers with great cars, excellent service, and quality tires.

Mar 24, 2023 in DARCARS Ford of Lanham Service

How Often Should You Get a Ford Oil Change?

You need a Ford oil change every 7,500-10,000 miles, so visit your Lanham, MD, Ford dealer for this at least once a year. Vehicles made before 2007 need oil changes more often, and you also need more frequent oil changes if you tow regularly, use your vehicle for commercial purposes or go off-roading a lot. Signs That You Need a Ford Oil Change from Your Lanham, MD Dealer ASAP Dark Vehicle Exhaust Fumes These days, vehicles don't have visible exhaust fumes. However, if it looks like smoke is coming out of your tailpipe, you know something is wrong. Dark exhaust fumes are a sign that your oil is no longer high-quality. Dark fumes can also indicate a cracked gasket and various other engine issues, so be sure to get your vehicle checked out by an expert technician. more Rapidly Falling Oil Level You need to check your oil level frequently. This ensures you know how quickly your oil level usually drops, and it lets you know when you need to top off your oil between changes. Checking your oil level regularly also ensures you notice when the level is falling faster than usual. A rapidly falling oil level is a sign you might have a leak in your system, so get to the dealership as soon as you can. Your Engine Is Suddenly Noisy Oil lubricates your engine's parts, which helps keep the noise level minimal. However, if your engine noise has suddenly increased, it may be a problem with your oil. The oil level may be too low, or your oil may be low quality. Either way, it's time to visit your dealer for an oil change. Your Oil Is Irregularly Textured Your oil should be amber in color and have an even texture and a slightly translucent appearance. If you notice that your oil texture is irregular, your oil is gritty, or almost black; you need new oil as soon as possible. Please note that your oil will darken as it cycles through your engine, but it should always remain slightly translucent with an amber hue. Your Vehicle Is Sticking While Starting The oil starts circulating as soon as you switch on your vehicle, but if your oil is textured irregularly, then circulating becomes more difficult. This can lead to a ticking sound when your engine attempts to warm up. The valves that move the oil around are the pieces that make this noise, and hearing the noise indicates that the valves are working overtime because your oil is difficult to circulate. The Vehicle Shakes While Idling Low-quality oil can impact the quality of your ride. One sign that your oil harms your ride quality is if your vehicle starts vibrating while idling. Avoid idling as much as possible until you can get your oil changed. Come by DARCARS Ford of Lanham when you need an oil change. We'll handle all the maintenance that your vehicle requires.

Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, title, and license charges. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week.