Our Ford financing team can help you get the new vehicle your family needs, but at a monthly payment amount that fits your budget. If you’re looking at the numbers and wondering what price range of vehicles you should be shopping in, let us help you consider the details so you can make an informed choice with your next new vehicle.

Calculate Your Monthly Expenses

Step one before making any major purchase is to consider what you can afford to pay for it. When financing, you’ll need to know how much you have in your monthly budget without overextending yourself.

The easiest way to determine this is to make a spreadsheet where you list out all of your monthly spending including:

  • Mortgage/rent
  • Utilities
  • Insurance (including an estimate for your next new car)
  • Groceries
  • Gas
  • Others

Then, based on your monthly income, see how much you have left. Keeping in mind there could be emergencies or other issues, think about what amount you can comfortably pay monthly for the next four to six years.

Consider the Down Payment

Depending on your credit history and income, you may or may not be required to put forth a down payment. Even if you’re not, you might consider making one of at least 15 percent to lessen the overall amount of your loan.

Inquire About Current Specials

Ask the sales professionals at our dealership if any particular models or trims are part of a special pricing event. This could help you get even more for your budget.

Apply for Financing

Lastly, see what terms you qualify for in terms of loan amount, interest rate, and overall loan amount. Come see us at Folsom Lake Ford when you’re ready to get started.