Before you meet with our Lexus financial center to finalize the lease or loan package for your brand-new luxury vehicle, you should take a few steps to determine your budget. This might sound like a daunting task, but don’t worry — we’re here to help! Here are a few tips on successful budgeting so you can enjoy the new coupe, sedan, or SUV that you purchase from Lexus of Orange Park.
Determine Your Down Payment
The first step for most people when they purchase a new vehicle is to figure out how much they can put down on the car. This might include a cash payment and the trade-in value of your old model. Your down payment directly affects the monthly loan payment you’ll arrange with our Lexus financial team, so if you can put down a healthy sum up front, you can also lower your monthly loan payment.
Identify Your Monthly Vehicle Expenses
After you’ve budgeted for your down payment, you’ll need to determine how much you’ll spend on your brand-new vehicle each month. Here are a few examples of your monthly vehicle expenses:
- Monthly payment and interest rate listed in your Lexus financial package
- Fuel expenses (if you buy a traditional gas engine or hybrid model)
- Routine maintenance like oil changes, tire rotations, brake inspections, and wheel alignments
- Insurance costs
Having a firm grasp on what you’ll pay each month will help you pick the right vehicle at the right price.
Get Lexus Financial Assistance in Orange Park, FL
You deserve to drive the luxury model you’ve always wanted at a price you can afford. And our team is here to help you budget for your new car! Visit the finance center at our Orange Park, FL Lexus dealership today to learn more!
