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3 Vehicle Financing Tips in Budd Lake NJ
Buying a new or used vehicle can be a difficult experience, especially for first-time buyers that aren’t particularly knowledgeable about financing. Thankfully, our agents at Motion Kia understand that and we’re here to help make things easier for you! We’ll do this by giving you three great tips, each designed to help you save money in the long term. Continue reading below to learn more!
1. Avoid a Car Lease
You should make sure you avoid a car lease when you’re going to a dealership, we’ll say it bluntly. Sure, you might get shown models that are out of your price range, and the sales representative might tell you that you could get a lease instead to save money upfront, but you shouldn’t take the deal. Leasing might be cheaper on paper, but it is more expensive in the long run. You don’t get an asset to show for your expenses, either, so it’s not a good financial investment.
2. Consider Buying Slightly Used
A new vehicle is a luxury all itself. It’s pristine, flawless, just as the manufacturer designed it. However, as soon as it leaves the lot it loses its value. It can drop as much as 11% in value the moment it leaves the lot, and it’ll lose another 20% over the course of the first year. Buying a vehicle that’s just a year old would allow you to save that money while still enjoying a basically new vehicle feel.
3. Consider Alternative Financing Options
You should consider an alternative financing option when purchasing your vehicle, new or used. While dealerships like ours might have great financing options, you might be able to get a better deal through your own bank or another third-party provider. Compare the rates you get from all your sources before you pick one for financing.
These are just three of many tips when it comes to financing your next vehicle. To learn more about auto financing, or to finance through us, contact our dealership today! We’re here to make sure you get the best possible deal on your new or used vehicle.