The first step in your vehicle purchase should be to determine what you could afford. 
First sit down and determine what you spend monthly on:

• Mortgage / Rent
• Utilities
• Taxes
• Insurance
• Credit Cards
• Incidentals

By adding up your monthly obligations, you’ll have a good idea of the amount of money you can allocate monthly for your new vehicle payments, insurance and maintenance costs.

Once you know what your monthly obligations are, you’ll need to answer the following questions:

• How much cash, in any, do you have for a down payment?
• Will you be trading a vehicle?  If so, what is the value of that vehicle?
• Are there any new car manufacturer rebates and/or incentives?
• What is your credit score? If you don’t know, get a copy of your credit report.
• What is your desired monthly payment?
• What is your desired term for repayment?

Once you have answered the above questions, use our payment calculator to determine your estimated monthly payment.

The smartest move you can make in buying a new car is to secure your financing early on.  By doing so, you’ll know the upper limit of what you can spend and the maximum amount of your monthly payment, plus it will give you an edge when negotiating with the dealership.