When it comes to buying a car, there are so many decisions to make. Previously owned or brand new? What make and model do you want for years to come? Should you go with the “fun” color or something more neutral? Leather or cloth interior? And one of the biggest questions that race around in buyers’ minds is just how they’re going to afford their vehicle. There are two options – financing and paying cash. We’re here to help you decide which option is better and why!
In order to decide whether or not you’re going to finance a car depends entirely on knowing how to do it and what exactly it means. Financing your car means you’re taking out an auto loan to make your purchase manageable. You can put your chosen amount down depending on what the dealership requires, and then make monthly payments that are within your budget until the loan is paid off. The longer you spend paying your loan off month to month, the more interest you’ll end up paying overtime. To avoid spending far more than you initially planned due to interest, make sure you have a good credit score and put down as much upfront as you can afford!
Purchasing a car outright is also an option. A cash offer means you’re done as soon as you hand over your money. There are some details you’ll be sure to work out during the transaction through. First of all, you have to decide on a set budget and save up until you reach that amount. You’ll want to do a decent amount of research to find a make and model within your budget that checks off enough items on your wishlist. More often than not, you’ll be required to produce a cashier’s check to pay for your vehicle, which can be obtained from your bank or credit union. This option is typically best for those looking to invest in a previously owned vehicle, as they are much more affordable than brand new if you’re working with a cash budget. If you have a lower credit score, can’t afford monthly payments, or can’t get approved for a loan due to other reasons, saving up for this type of transaction is your best bet.
Whether you’re planning to finance or pay cash for your Toyota, Marianna Toyota is here to help! Visit us at 2961 Pennsylvania Avenue, Marianna, Florida to check out all our inventory and speak with our specialized salesmen. We’ll work tirelessly to find the exact make and model of your dreams all while working with your budget. Have a question that can’t wait? Give us a call at (850) 423-8002 and browse our inventory online with our easy Inventory Search option. To make your choice even simpler, if you can’t come to us, we’ll drive it to you!