At Quattro Motors-Redford in Farmington Hills, we love to make the purchasing experience for used vehicles as easy as possible for our customers. Ensuring you have a reasonable budget and are responsible with your money is an excellent start to purchasing your next vehicle. If you want to finance a car, you'll have a car payment, insurance payments, and you'll need money for gas and maintenance. Redford MI drivers may also want to save money for vehicle accessories or regular cleanings.

Determine Your Trade-In Value

If you have a trade-in, it is crucial to know how much it will take off your needed down payment. Getting a value for your trade-in is the first step to knowing how much your next vehicle will cost up-front and monthly.

What is the Total Purchase Price?

Your vehicle's total costs should include your down payment, your taxes, title, and license plates. Livonia and Detroit drivers will also need insurance for their car and could have fees for a maintenance plan. Some or all of these costs could be part of your financing package.

Saving for a Down Payment

When you determine how much you want to offer as a down payment for the vehicle you want, you can start to save a percentage of each check and place that money in a savings account. It is much easier to save this money if it is the same out of each check you make. If your checks vary, then a percentage of your monthly income is also an excellent way to make sure you save enough but remain comfortable.

Keeping Your Payments Low

To make sure your costs for your next vehicle stay low, check the safety rating to get a lower insurance rate. Southfield MI drivers can also get a vehicle with higher miles or a few years older to lower their monthly payments. Consider financing your vehicle for a longer term to keep those monthly payments lower.