How Much Money Should You Put Down on a Car near St. Charles, MO?

Used Vehicle Dealer Near St. Charles, MO

How Much Money Should I Put Down on a Car Near St. Charles, MO?

It’s the age-old question, how much money should I put down on a car? The answer depends very much on your specific set of circumstances. Luckily for you, the knowledgeable sales team here at Johnny Londoff Autoplex near St. Charles, MO, is on hand six days a week to help you determine what works best for your financial situation. First off, you should come in with a comfortable budget in mind and an idea of the type of vehicle you may be interested in purchasing. Feel free to explore our used car dealership near St. Charles, MO, to get a better idea of available options. Once you have a vehicle in mind, our team will assist you in figuring out how much cash you should put towards your car purchase. Again, this will be tailored to your unique finances, keeping in mind that we want this transaction to be as stress-free as possible for you.

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The fine folks at Johnny Londoff Autoplex will be sure to point out additional factors, which may come into play when you purchase your next vehicle. Perhaps your credit is not superb at the moment, or maybe you are in the process of establishing credit. In these cases, we would suggest putting down a minimum of 10% to keep your payments in a comfortable range, all the while you will be building up good or new credit. You will also have to factor taxes, title, tags, and fees into the total equation. Other benefits of putting money down when buying a car are not having a large monthly payment and shortening the loan term, thus saving money on interest charges.

We highly recommend you know your current credit score, along with current used car interest rates, before you arrive at our used car dealership. Arming yourself with this information ahead of time will alleviate any surprises in the automotive purchasing process.

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Another option to consider instead of a cash-down payment would be to trade-in a vehicle and use those proceeds to offset the price of your new vehicle. The staff here at Johnny Londoff Autoplex are experts at evaluating your trade-in to come up with a fair and honest offer. There will always be those who would rather pay cash and not carry a loan over many years. In some instances, this may give you a boost in the negotiations. No matter how much money you decide to put down on a used vehicle, we would encourage you to pay as much as possible over the minimum payment each month.

Please stop by today and check our wide array of quality used cars near St. Charles, MO.

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