Is it time for a new vehicle? If so, you’ll love our lineup of 2019 Honda vehicles. Make the car buying process easy by thinking about your budget beforehand. Our Honda dealership offers online tools to make budgeting painless. Stop into Stevens Point Honda and find the perfect car for your lifestyle and budget today.
Balance your budget
Start by factoring in all your current monthly bills and annual expenses. You don’t want to be caught off guard when yearly fees come due all in one month. Take any annual payments and divide them by 12. Include that amount in with your monthly bills and expenses. Then, subtract the total from your income.
Before you start looking for a new vehicle, consider the other costs associated with a car.
- Monthly car insurance
- Gas and maintenance costs
- Annual licensing or registration fees
Experts recommend that you spend 20% or less of your take-home pay on a car payment. So even if you have quite a bit of income left, you’ll want to keep your new car purchase in line with this 20% goal.
Consider adding a down payment
To save the most money and pay a reasonable amount over the lifetime of your loan, then put 20% of the purchase price down on your new car. If you don’t have a full 20%, then consider trading in your current vehicle. Use an online estimator to see what your vehicle is worth, then consider using that along with your down payment to lower the financing required.
Call a Marshfield Honda dealership
With a balanced budget and a sound down payment, you’re ready to test drive one of our 2019 Honda vehicles. Our finance team can answer your questions and help you find exactly what you’re looking for in a new car. Give Stevens Point Honda a call and make an appointment today.