Financially Fit – How to Be Ready To Buy Your Next Honda

September 18th, 2016 by

Here at Freedom Honda, we’re committed to helping the Colorado Springs community not only find the automobile of their dreams, but helping them stay financially fit! So, whether you’re looking for a brand new Fit or an older Accord, the team here at Freedom is ready to help facilitate your purchase. Before buying your next vehicle, here are some tips to purchase your car without breaking the bank! Follow these.

Know your budget. Before coming to see us, take a moment to sit down and evaluate your budget. What kind of payment can you afford each month? How much are you looking to spend total on a vehicle, including any interest charges you may be responsible for paying back. Aside from a home, an automobile is likely the biggest purchase you’ll make – knowing your budget is crucial. Also, be sure to have your insurance agent’s number saved in your phone. You’ll want to know how the car you are potentially purchasing will impact your insurance premiums.

Know how you plan to pay. There are three options when it comes to acquiring your vehicle – paying in cash, financing a portion/all of the price of the vehicle, or leasing. The first two options cost more up-front, but you eventually will own the vehicle. If you lease, you return the vehicle after a pre-determined amount of time. Depending on your driving habits, leasing can be a wonderful option for many. If you’re unsure exactly how you want to pay for your vehicle, our sales experts at Freedom Honda will be happy to explain all of your options.

Know your credit score. If you’re like a majority of car shoppers, you’ll be paying for your vehicle by financing it. The interest rate of a loan can make an affordable car unaffordable and vice versa. There are a variety of ways to check your credit score – many credit card companies now offer credit tracking services. Check with your credit card company to see if this service is available to you.

Know when to wait. Buying a car is a big decision. After crunching the numbers, is the monthly payment feasible? Unsure if you can handle the payment? Credit not so great? There are ways you can address these concerns. Start putting aside a certain amount of money each month into a new savings account or envelope of cash. This not only will help you have a larger down payment, but it will establish the habit of making a car payment. If your credit needs work, consider paying down your current debt at a faster rate and continue to make all of your payments on-time. Small changes like this can have a big impact.

Whether you’re looking to buy today or months from now, the team here at Freedom Honda is committed to helping you. Follow these tips or stop in today and ask us how we can help get you ready to purchase your next Honda! Whatever your budget or financial background, we can help! See you soon!

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