Fuel for thought
Whether you’re 16 or 60, buying a vehicle can be a lot of fun. The key is figuring out what’s going to work best for you and making sure you’re ready from a financial perspective so that you can get exactly what you want. The thing that typically frustrates people the most in the vehicle purchasing process is pressure from dealers – but you can avoid that hassle by knowing your budget and your purchase plan before you even set foot on the lot. So before you step foot on the lot, consider these questions:
New or used?
Besides price, consider depreciation, how long it will last, maintenance costs and resale value.
Buy or lease?
If you’re addicted to that new car smell, maybe buying isn’t your best option.
What are your priorities?
Figuring out what’s most important to you can make your decision easier.
Did you know…
Most people assume they need a vehicle loan to buy a car, truck, boat or recreational vehicle. While it’s true that there are loans specifically designed for these types of purchases, there are other options to consider.
For instance, if you’re a homeowner you may be able to use a home equity loan or line of credit to buy your vehicle. Personal loans can also be a good option to consider, depending on your needs and your personal situation.
- Vehicle payment
Estimate your payment before heading to the dealership. - Vehicle affordability
Figure out what car price and monthly payment you can afford. - Auto refinance
Find out whether you could lower your payments by refinancing your car loan. - Lease vs. buy
Compare the expenses of buying vs. leasing your next ride. - Mini-Max financing
Calculate a monthly payment with Dupaco’s lease-like option.
