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Can I Afford to Buy a Used Car? Here’s How to Find Out

Car Examer

With so many factors to consider, from monthly payments to maintenance, figuring out what’s manageable can feel overwhelming. Down Payment A down payment reduces the amount you need to finance, which lowers monthly payments. A larger down payment now can mean less strain later.

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Understanding Dealership Jargon: Terms the Public May Not Know

Shawn Ryder

The F&I manager will also offer additional products such as extended warranties and GAP insurance. GAP insurance is crucial if your down payment was low or your loan term is long. MSRP (Manufacturer’s Suggested Retail Price) The price that the manufacturer recommends the dealership sell the car for.

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How to Haggle Car Price Like a Pro

Your Car Buying Advocate

Imagine financing like this : It’s a way to break up the cost of the car into smaller, more manageable payments spread out over time. The "Four-Square" Method This is a common sales tactic where the dealer uses a worksheet divided into four parts: your trade-in value, the purchase price, the down payment, and monthly payments.

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