Considering financing a new Alfa Romeo car or SUV from Helfman Alfa Romeo? Financing is a convenient way to purchase that new car you love while managing reasonable monthly payments. However, you don’t want to overextend yourself, and our Alfa Romeo finance experts have a few tips to help.
Know Your Limits
Before you begin shopping, it’s important to determine your budget. Most experts recommend keeping your total auto expenses (payment, insurance, maintenance, etc.) under 20% of your take-home pay. Plug the total cost of the vehicle you’re eyeing into an auto payment calculator to see if falls within your budget.
Check Your Credit Score
It’s also important to check your credit score before you shop. Your score can have a huge impact on both the offers and the terms you receive. If your score needs some work, you may want to consider repairing it first.
Plan to Make a Down Payment
Paying money upfront can actually end up saving you money. Loans include interest, a direct fee you pay your lender, and it’s a percentage calculated off the total amount you finance. By making a down payment, you’ll have less to finance, and less interest, which can end up saving you thousands of dollars.
Keep Your Loan Term Short
Your interest is also due throughout the life of your loan. So, by limiting your total loan length, you can also limit the amount of interest you pay. When your budget allows, try to keep your loan under five years.
Our Alfa Romeo dealership in Houston, TX doesn’t just have the gorgeous new vehicle you’re looking for, you can conveniently apply for financing with us too. Stop by to get started today!
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