When looking to purchase your vehicle, remember that the most economical method to do that is with cash.
If you do not have enough cash available, financing is an option where you pay a downpayment as a percentage of the total (if 20000, pay 2000 for example)
- The larger the downpayment, the less financing is required.
- Whatever is not paid in downpayment will have to be paid with interest added.
- Shop around for your loan, as the interest rate will vary.
- Work to get a lower interest rate on the remaining amount
- Remember – the higher the interest rate, the more you borrow and thus the longer it will take to pay off your vehicle.