As you hunt for your next vehicle, you likely know the type of vehicle you’re looking for, but you may not be completely sure what you can afford to spend. At Dantin Chevrolet, we want to give you the tools you need to set a budget for your next used car and shop with confidence. Pay us a visit to get started today, but first read below for what you should consider when deciding which cars might be right for you in New Orleans or Napoleonville.
Figure Out Your Expenses and Income
The first step to any financing equation is understanding where you currently stand with your finances. You’ll need to know an approximate monthly income and what you spend on bills and necessities each month so you know what you can reasonably afford to spend on your new car loan. If you’re currently paying a loan on a vehicle you plan to trade, you can remove that from the equation since you’ll be rolling that loan into whatever you take home from our Thibodaux dealership.
Understanding Your Monthly Payment
Now that you know what you have left over to spend on a vehicle, you’ll want to ensure that you leave room for additional expenses, savings, and other needs that might arise. A good rule of thumb is to only spend one third of your additional income on your monthly vehicle payment. Then consider that for every $1000 you finance, you’ll pay approximately $20 per month. So if you can afford to spend $200 per month on car payment, you can afford a $10,000 vehicle with no down payment.
Use Our Online Tools!
With tools that let you structure your deal from home, you can see which vehicle fit into your budget so you can find the right fit. Then, fill out an online finance application and visit us to test drive our used car selection!
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Pre-Owned Inventory