The smart shopper will consider how to finance the car she wants to buy at the beginning of the shopping process. This will avoid unpleasant surprises later in the game. And, by tackling this question before getting around all that shiny metal and chrome, you can make an unemotional decision that fits your lifestyle.
Monthly payment. If you are going to take out a loan, how much can you afford to pay each month?
Down Payment. How much cash can you put down to reduce your monthly payments?
Purchase price of the car. The first two questions will produce the answer to this final question. We've made this easy for you by creating the "Finance Payment Calculator." to see how much your monthly payment should be.
You have three ways to pay for your used car:
Cash. Need we say more? Money talks — and you-know-what walks.
Financing through a bank or credit union. We highly recommend this route.
Financing through the dealer. This can work for some people depending on their credit scores. Also, by prearranging financing through an independent source, the dealer may sometimes offer to beat the rate with a low-interest loan.
Chip Wynn offers special dealer financing. If you have had some credit problems in the past but now you have a job and your paying your bills on time, stop by and ask Chip about the special financing. Click here to hear what Chip says about his special financing offer