Financing Your First Car
When it comes time to finance your first car, you may not know where to begin. The experts at Reineke Honda are ready to help you through the process so that you get a first car that you’ll love and be able to afford.
Here are some things to consider when it comes time to purchase your first car:
This is possibly the most important thing to consider. Set a realistic budget factoring in your current finances. Remember you will have a monthly car payment, which will depend on the amount you put down, and other costs such as insurance and maintenance. Insurance rates can go up and maintenance costs can get expensive depending on the vehicle you buy. We’ll talk through any concerns you have with you when you visit our dealership in Findlay.
Organization is key when it comes to getting your first car loan. Aside from the important documents like paystubs and proof address, be sure to also check your credit score and do a monthly budget so you know what you can afford and what kind of rate to expect. You will also want to check your credit report for errors so you can get that worked out before you find a car that you love.
Your Down Payment
You will likely have to borrow money for your first car, but saving for a down payment actually helps a lot. Putting money down on the car can help you lower your monthly payment and shorten your loan terms. The less money you borrow, the less money you have to pay back. Be sure to call our dealership at 419-408-3361 if you have any questions about how much to save.
You need to know that you’re getting what you want for your money. Spend time looking at inventory online to get an idea of what you like and how much it costs. Here at Reineke Honda, we’ll work with you until you find a car that meets your needs in your price range.