This time of year can be a lot. From taking the kids back to school last week to being a college or university student getting settled into the next year of your major, I know that the to-do list seems endless. This time of year also comes with many new financial obligations, but I’m here to tell you that a safe and reliable car doesn’t have to be a stretch. Here are my tips for getting a vehicle this back to school season without breaking the bank. Yes, it’s possible.
In my previous posts, I’ve talked about getting upside down and hit on other finance FAQs. One of the most important things to consider, whether you’re on your first car or your fifth is your budget. When you apply for a vehicle loan, lenders will give you an “up to” amount based on your current financial situation.
We aim to provide high quality used vehicle inventory to shoppers in Corner Brook. We have a wide selection of vehicles at different prices for every budget. We even have vehicles under $9,999! Knowing your budget and shopping within it will make finding a vehicle this season that much easier, and your monthly payments that much more manageable.
It’s easy to get a great deal on your used vehicle financing with a down payment. The more of the vehicle’s price you put towards a down payment, the less you’ll be paying monthly and in interest. Whether it’s a little or a lot, when I set up your financing, this will play a role in your total fees.
Because this time of year is costly, I make sure to source lenders that accept minimal down payments that can get you financed—even without a large down payment against your vehicle’s price. Better yet, as an experienced finance professional, I have experience with all types of credit situations. This means that when I review your unique situation, I connect you with the lender that is best for you and most likely to approve you with a great rate. This will save you money now and in the long run.
Aside from keeping your budget in mind and sourcing the best financing you can, here are some of my pro tips for saving money on a used vehicle:
Buy from a trusted dealership
Shopping with Western Used means that you’re getting a vehicle that has been tested and is road-ready with no messing around.
Do your research
Know that your desired vehicle is worth its listed price.
Trade in and trade up
If you have a vehicle that you’re currently driving, trading it in can save you money off of the sticker price of a new one and will save you tax on your total purchase.
Watch for CarFax reports
You’ll notice a maple leaf logo on all of our vehicles. This means that you’re able to view the vehicle’s history report. Knowing where the vehicle has been can save you money in the long run by avoiding any known issues and potential repairs before they’re needed.
Whether you’re looking for a vehicle to take the kids back in style or simple to finance your next commuter, I’m happy to help. I’m here to answer all of your finance questions in a way that makes the subject easy to understand and non-intimidating. Ask me anything!