Ready to buy a new or pre-owned vehicle? Our Land Rover finance experts are happy to help you prepare for your next big investment with these handy tips for budgeting.
Set a Budget
Before you start budgeting for your next car, you need to determine what your budget is. Experts recommend that you keep your vehicle expenses under 20 percent of your take-home pay.
You also want to make sure you feel comfortable with your monthly payment. An auto payment calculator can help give you an idea of what your payment will be.
Determine Your Trade-In Value
Your existing vehicle can be a valuable tool. Your trade-in can serve as a sizable down payment, giving you less to finance and saving you thousands.
You can quickly get an estimate of your trade-in value online so you know how much you’ll be applying to your next car or SUV. You just need to enter your VIN number or license plate number to get started.
Finally, we encourage you to get pre-approved for an auto lease or loan. You can conveniently apply online or visit our dealership to determine your eligibility.
We’ll look at your buying criteria to determine if you will be approved for a loan and how much you can afford. We’ll also look at your income, existing rent or mortgage, additional debt, and credit score and history. Then, we’ll send your information to the lenders we work with to find a loan with the best terms for you.
We have a plethora of online shopping tools that can help with your financing process. Don’t hesitate to reach out to our Land Rover dealership in Peabody, MA with any questions as well. We’re happy to help!