What should you consider when buying a new vehicle, besides the sticker price on the tag? There is plenty to think about. This investment is something that yes, will provide you with a vehicle to drive, but it will also affect your ongoing finances for many years to come. We here at Lithia Chrysler Jeep Dodge of Medford want you to be as educated on the process of purchasing a vehicle as possible, so let us take a look at what financial considerations come along with the ownership of any vehicle:
Initial Down Payment
You can put down $200 or you can pay for your vehicle in full. Your savings depend on this amount, and they increase with more that you initially put down. This also will lower the amount you pay monthly on your lease.
Gas
Don't forget about the weekly cost of buying gas. If you drive a lot of miles to get to and from work on a daily basis, gas will be no small expense.
Insurance
This will protect you after being involved in an accident. It doesn't matter if you are at fault or not, insurance is something that every driver must have.
Call Lithia Chrysler Jeep Dodge of Medford to speak with a financing professional about your budget!