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October 25, 2010


Smartsavvy Unless you have the “cash on hand” to purchase a new vehicle outright, you will probably be like most of us and make payments each month to your lender.


First and foremost calculate the total budget amount that you can pay each month.  This includes the monthly car payment, the insurance, the gas, the maintenance etc.  Even though the vehicle may be covered under warranty there will be maintenance of the vehicle such as lube-oil-filter changes, car washes etc.  Remember that there will be closing costs like a down payment, taxes, title, and license to add to the total upfront cash outlay.


Second-Thanks to technology, there are many sites available to help you determine “how much car” you can buy based on the monthly payment you can make each month.  You can access payment calculator sites through the WWW.ASKPATTY.COM web site or you can go to a search engine and type in AUTO PAYMENT CALCULATOR.  Either way you will find very simple and easy to use “WHAT CAN I AFFORD” tabs which will help you in your search for new transportation.


Third-Research Financial Institutions for the best loan interest rate.  The dealership has a Finance and Insurance Department but there are other means of borrowing for a vehicle purchase.  If you belong to a Credit Union, contact them to determine how much you can borrow.  Go to the WWW.ASKPATTY.COM sight and click on the AUTO LOAN tab.  Or go to a Search Engine and type in AUTO LOAN and you will find any number of resources to find the best interest rates to meet your needs.  Remember that if you are “shopping for the best rate” be careful not to make the application until you have made your decision.  The “test” applications made could affect the credit score when you go to the place of choice to get your loan.  (Completing many applications gives the impression that you have APPLIED for many loans when in fact you are just looking so be aware of this)

If you have any questions, please reach out to any members of the Expert Women Panel found on the AskPatty.Com® web site and we will respond to your inquiry.

PatRnewheadshot Patricia J Roberts

Directory-Business Development AskPatty.Com®
Expert Women Panel member @ AskPatty.Com®

Patricia J. Roberts is the Director-Business Development for AskPatty.Com®.    She has +39 years of experience in the Automotive Industry which includes increasing the number of women who own and who work in dealerships.

About Patricia J Roberts, Director of Business Development.

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