The question is simple how much car can you actually afford. Well you have to see what your income is after you pay your essential bills.
After that you can see what you can really put down on car each month. Now if you have a little money saved up for a down payment for a used car all the better.
How a down payment can help with a used car
Now a down payment will help but it won’t completely solve your auto financing issue. Most car dealers want you to have 10% or more in Atlanta and some times they will allow for no money down options at their car lots in Atlanta but they take a good hard look at what your credit history is before the offer.
Car dealers in Atlanta also look at the income that you bring in and they want to make sure that your debt isn’t high.
If your income to debt ratio is over really 42% that’s going to be a red flag for them and the car lot is going to deny you the auto loan and probably tell you to go to a buy here pay here car dealership in Atlanta.
Check into buy here pay here car dealerships in Atlanta Georgia
Buy here pay here car dealerships are able to be more accepting about down payments and monthly payments. They don’t necessarily care where the money comes from to pay for the new or used car just as long as you can pay you should be fine.
But if you want get a solid auto loan that’s going to help you with your credit you might want to have an idea of how much income its going to take and start saving for that and start snowballing your debt.
Banks and credit unions in Atlanta like to see that you can pay off your bills in a timely fashion and not fall behind.
No one likes debt but if you can pre plan for the purchase of a used car in Atlanta with the low monthly payments and down payment you should be fine.