The smart shopper will consider how to finance the car at the beginning of the shopping process. This will avoid unpleasant surprises later on and help you make an informed decision that fits your budget.
You should use our Affordability Calculator to help you come up with the figures you need to guide you as you go shopping:
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 — Answering the first two questions will help you determine a realistic price range for your used car.
Once you've determined how much you can spend for a down payment, a monthly payment and the purchase price of the car, print out these figures. Later, when you are negotiating for a used car, you might need to check this information to bring yourself back to earth.
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