At John L. Smith Used Cars in Chester County PA, we have many used cars for you to choose from when you are ready to buy a car in the Downingtown and Exton area! Our team wants to make sure that you are always financially ready to purchase the car you want. Budgeting for your next vehicle is vital for many reasons, and so you remain comfortable with your monthly budget.

Budgeting for a Down Payment

If you do not have a trade-in to put toward your next used car, then you will probably need some kind of a down payment. The best way to figure out how much down payment you'll need for the vehicle you want is to get a pre-approval. This information will give you the figures you need, so you know how much to save.

Budgeting for a Monthly Payment

A pre-approval should also give you the information you need for a monthly payment. The monthly payment for your vehicle is long-term, so you should easily make the payment each month in your transportation budget.

Saving for Your Next Used Car

If you do not have the money for your next used car, you may have to take a while to save the money. You can do this with a specific percentage out of each check you make, or you can set aside a specific dollar amount every month. You can also set aside what you think the car payment will be and put it into savings to have a down payment and get used to paying that much every month for your next used car.

Other Monthly Expenses

It is crucial that you can afford the monthly payment for your car insurance, maintenance, and fuel. In addition, if your vehicle will not have a warranty, it is wise to set aside some money each month for things like oil changes, tires, and rainy day situations.

If you would like to learn more about our vehicles, visit our dealership and we will be here to assist you! We are proud to serve drivers across Coatesville and Philadelphia, too.

Categories: Pre-Owned Inventory