When it comes to auto financing, there’s no team better than Sansone Auto. We believe every driver should have access to top vehicles for their driving needs, at the right price to fit their budgets. That’s why we carry a wide inventory of pre-owned vehicles, and why we’re sharing top tips for financing your next car, like the 20/4/10 rule.
20- Down Payment
The 20 in the 20/4/10 rule stands for the down payment. The more money you are able to put down the day that you take a vehicle home, the less you’ll end up paying in interest costs over time. The 20/4/10 rule recommends that drivers put down at least 20 percent of the vehicle’s total cost in order to save in the long term.
4- Loan Length
You also want to consider the length of the term when the time comes to pick out the next pre-owned vehicle. Typically, longer terms will have smaller monthly payments, but you may still end up paying a significant amount in interest over time. This guideline recommends that you take out a four-year term, though you may be able to pay it off more quickly.
10- Monthly Costs
You also want to account for other transportation costs and needs. According to the 20/4/10 rule, your monthly transportation costs, including your car payment, fuel, insurance, and parking costs, should be less than 10 percent of your monthly income.
Auto Financing at Sansone Auto
No matter what your vehicle financing needs may be, Sansone Auto is here to help every step of the way. We carry affordable vehicles to fit your needs and offer financing tools that you can rely on. Pick out the next great car with support from our expert team today.
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