All too often, in the 14 years I’ve worked in the auto industry, I’ve seen people buy cars on emotion. They fall in love with something they test drove (or worse, saw on television) and simply MUST have it, regardless of price. Six months later, when they discover giving up “a few things” to make a car payment isn’t as easy as they thought it would be, the infatuation with the car quickly loses its luster.
Being able to afford a car sounds practical, responsible, maybe even a little boring. But think of it this way – by doing the right thing today, you’re building the foundation for buying the dream car of your future.
If you’ve never created a budget before, the task can sound daunting. But luckily, there are tools available to help you, starting with By
The reason I say “begin determining” is because, unless you’ve already applied for a loan and know what annual percentage rate (APR) you might be offered, completing this field is a guesstimate at best. But it’s a good starting point and shows you how much impact things like extending the loan term and a down payment can make on your monthly payment.
One of the other calculators available on ChryslerCapital.com is A Little Extra, an early payoff calculator. When you pay more than the stated monthly payment,
As a first-time car buyer, it is possible to fall in the love with the car you’re buying AND be able to afford it at the same time. It might take a little more time and research, but it’s worth it.