Budgeting Tips for a New Toyota
Do you have your eyes on a Toyota Sienna for sale? Or are you wanting a 2019 Toyota Tacoma? Budgeting for a new car, truck, or SUV doesn’t have to be scary or stressful. For a streamlined vehicle buying process, contact us at Toyota of Newnan today, your trusted GA Toyota dealership!
Start by determining how much you can comfortably put toward a payment on a monthly basis. Don’t forget to factor in the cost of insurance, maintenance, and licensing fees. Have you saved up a substantial down payment? Experts recommend putting at least 20% of the vehicle price as the down payment. Similarly, as a general rule, your monthly car payment should not exceed 15% of your gross pay or 20% of your take-home pay. Of course, this depends on numerous factors as well.
To get an idea of what potential monthly payments would look like, utilize the payment calculator tool on our website. By inputting a value for the vehicle, down payment, interest rate, loan term, and trade-in, you’ll be able to calculate your potential monthly installments. This tool is convenient as it lets you try different variations to see which provides the best monthly payment for your budget. You’ll also find an online loan application to make the car buying process even more accessible.
To learn more tips about budgeting for one of our new or pre-owned Toyota models, contact our Toyota dealers serving Carrollton today! And if you’re ready to test drive, stop by Toyota of Newnan located at 2 Hearing Rd. in Newnan, GA.