How Much Car Can You Afford?

New and used car buyers often have a ballpark idea of what they can spend on a car, but rarely understand what they can really afford. It's important that buyers understand how to figure out how much car they can afford before they go shopping. Here are some tips for figuring out how much you can spend on a car:

• Do you currently have an auto loan? If so, you want to keep your new payment roughly the same as your current payment so you can easily accommodate the car payment in your budget.
• Do you have a steady job, a down payment and/or good credit? You can still get a loan with compromised credit, of course, but consider how much money you make and what your credit score is. If you can place a large down payment and have a good credit score, you'll pay less monthly for a car.
• Are you realistic? While it's great to have your sights set high for your new car, be realistic, too. If you have a Toyota budget, consider that there are many very nice Toyotas and you don't have to go looking for a Maserati.

Whether you're looking in Riverside for a Honda, or you're looking in Corona for a Toyota, Moss Bros. Auto Group can help with financing your new purchase and at a price you can afford.