Enid Insurance Agents: Car preparedness
As a great many of you say hello to summer and warm sunshine, you’re also ready to open your pocket books to purchase a new car. It’s an exciting time of life when you get to make that big purchase. That’s why Enid insurance agents have scoped out the best car shopping tips from information within our Farmers inner circle. Enid insurance agents told you about two car shopping tips in part one of this series and Enid insurance agents are ready to list a few more car shopping tips for your vehicle purchase this summer!
1.) Your down payment: Ok, so no one wants to have to put any money towards buying a car right away. Realistically not having a down payment will make your car payments either really large or your loan will be longer, forcing you to pay more in the long run. That’s why Enid insurance agents know it’s a good idea to put down at least 20 percent of the selling price.
2.) Your long-term budget: Unless you have cash to pay off the car right away then you will need to finance a new car. If the latter is your situation then you will need to seriously think about what the maximum monthly payment that you can afford will be. Enid insurance agents suggest adding up your monthly bills verses income flowing in and decide how much extra you have to pay a car payment. There are also online loan calculators to utilize to help you see how much you can afford.
Do you think you’re now ready to go car shopping? Enid insurance agents hope that you have found tips from part one and part two of this series helpful. You don’t want to be someone who purchases a vehicle with payments you can’t really afford. A new car for you means a new expense and requires recalculating your budget. In review, Enid insurance agents recommend deciding what size car you need, what features you need, giving a down payment and calculating your long-term car payment budget. All of these preparations will take the guesswork out of your car shopping experience. Oh, and if you’re in the market for car insurance, we’re always available to help.