How to Budget for a New Car

by | Sep 5, 2018 | Auto Repair

If you’re in the market for a new vehicle, you should try to find as many ways as possible to stay within your budget. By following these tips, you’ll have an easier time affording your vehicle purchase.

Have a Timeframe in Mind

You may not be ready to buy your vehicle yet, but you should still have a timeframe in mind so that you can set an estimated purchase date. Sticking to this timeframe will help you work toward your goal and procrastinate less when it comes to making important decisions about your purchase.

Consider Insurance Payments

An insurance policy will be required to drive the car legally and should be factored into the vehicle purchase price. You can calculate estimated payments based on comparisons of different vehicles. Another idea is to shop around for a new insurance plan with a carrier that can lower your premiums.

Look for a Prestigious Dealer

Searching for car dealers in Mount Prospect that have been reviewed positively by satisfied customers can end up saving you a lot of time and money. A prestigious dealer is likelier to be fair with pricing and willing to negotiate the total cost.

Apply for Financing

Financing offers you a way to make payments on your vehicle instead of having to come up with the money in full at the time of purchase. Many dealerships offer financing, or you can also apply through a bank or another financial institution. To save money, sign up for a financing plan that has the lowest interest rates and the fairest terms.

Trade in Your Old Vehicle

If you already have a car and wish to upgrade, you can trade your vehicle in for a new one at a dealership. Many dealers buy used cars to resell and will apply the purchase price to the cost of your new vehicle, thus lowering your payment.

Arlington Heights Ford has long been one of the top car dealers in Mount Prospect and can offer you a great deal on a new or pre-owned vehicle. To learn more, please visit

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