Buying a new car is an exciting decision, but one that also takes some planning. One important factor in what kind of vehicle you’ll end up purchasing is what fits your budget. But it’s not just the sticker price of the car you should look at. There are several factors to take into account when considering what will fit into your new car budget. That’s why Fields BMW Northfield has put together some tips to help you sort out how much you should expect to pay.
The first thing to know is that the sticker price of the car isn’t the total price you’ll end up paying. Things like sales tax, fees for the registration and title, and extended warranties (if you choose to purchase them) will also affect the total value. Additionally, factors you’ll be responsible for after the purchase should also be kept in mind, including gas, insurance, maintenance, registration, and more.
The monthly installment is probably one of the most important things to consider when determining your budget if you’re planning to finance your new or pre-owned BMW. First, you’ll need to determine what kind of monthly payment you can afford. Then you need to consider your interest rate (as the monthly payment includes both the principal amount and interest), how long you want your loan term to be, and what kind of a down payment you can make. Adding these factors together will help you calculate what price range you’re looking for in your new car.
Whatever your ideal budget may be, our sales associates at Fields BMW Northfield are here to help you find a great new or pre-owned BMW that fits your price range, and our finance experts will work to secure affordable financing for you. Visit our Illinois BMW dealership today to learn more.
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Finance