You may have your dream Cadillac car pretty much picked out, but you won’t be able to drive it home if you don’t get the Cadillac financing right. In order to get a vehicle that matches your budget, there are some key areas to focus on. MotorWorld Cadillac offers three numbers to pay close attention to.
20 Percent
When thinking about your down payment, you should aim to supply 20 percent of the sale price. This will immediately reduce your loan amount substantially. As a result, you will have less to borrow and perhaps a shorter loan term.
If you don’t have 20 percent on hand, consider using your older vehicle as a trade-in.
Four Years
Speaking of the loan term, it is a smart idea to keep this around four years. An ultra-short loan will result in much larger monthly payments. A long-term loan will shrink those payments, but you have to remember that you will end up paying more in interest. Going with a loan somewhere in the middle will give you the best of both worlds.
10 Percent
When calculating your monthly payment, keep 10 percent in mind. You should try to limit all car-related expenses to less than 10 percent of the income you regularly bring in. In addition to the payment, this includes things like maintenance, insurance, and fuel expenses.
Start the Cadillac Financing Process in Wilkes-Barre, PA
Once you are ready to get the Cadillac financing process underway, our Cadillac dealership in Wilkes-Barre, PA, make it easy. Just fill out our online application to get pre-approved for your loan. If you have questions or would rather apply in person, visit us to speak to one of our financing professionals today.
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