Here at Folsom Lake Ford, we always strive to meet all of our customer’s needs, whether that means finding a new Ford for sale or helping answer any automotive questions that they may have. Of all of the questions our team is asked, finance and budgeting are certainly reoccurring topics.
Figuring out the financial aspect of buying a new car can be quite intimidating; fortunately, our team at Folsom Lake Ford are here to help. Cars are long-term financial commitments and making the right decisions can affect your overall satisfaction of the driving experience.
One thing we recommend that new car buyers do is save up 20% of the value of the car in question to use as a down payment. Down payments can reduce the overall amount you need to finance for, and as a result lower your monthly monetary burden.
On the other hand, it is worthwhile to determine what you can afford in the first place. Calculate what your current financial responsibility is, and ask yourself: can I afford a brand-new car? For those who are unsure, there are other automotive options they can take advantage of. For instance, buying a certified pre-owned Ford can be a great way to get behind the wheel of a Ford car that feels as good as new.
The length of your auto loan term can also play a huge role in how much you pay on a monthly basis. A longer auto loan is typically going to present a lower burden than a shorter loan. Although, a shorter term often means that you’ll pay off the car far sooner.
A lot goes into navigating the finances of car buying; fortunately, the team of auto professionals at our Ford dealership are committed to ensuring stress and intimidation are removed from the car buying process entirely. At Folsom Lake Ford, your dealership experience and your long-term driving experience is our top priority.