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Should You Finance a New Car or Used Car in Chicago Illinois

used car down payment options in Chicago Illinois

Buying a car really comes to the question of where do you fall financially? Do you have enough for the purchase and down payment saved up? How does your credit score look? These are the questions you want answers to before going and talking to a car dealership in Chicago.

Can you afford a new car or is the better option a used car that’s about two-three years older and you won’t have to finance as much?

Keep your down payment simple for a used car in Chicago Illinois

You don’t want to spend too much financing wise because you will just be paying more in interest. So, the more cash you must put down on a car new or used in Chicago the better financially you will save.

What you really want is to have three options and go with the best one that fits your budget. Everyone knows you should never buy a new car off the car lot because the value sinks.

But you always want to have some kind of cash down payment even if its $500 down for a car in Chicago Illinois. You will be better off with knowing you aren’t going to lose money with a bigger cash down payment on whatever car y choose.

Why is it safer to finance a used car in Chicago Illinois

The safer thing to do is buy a used car in Chicago and put a decent down payment or trade in or see what a local bank can finance you at. Car dealership lenders look at what your payment history is over most everything and decide the interest rate for the auto loan.

We can help connect you with the car dealership that works best for you with the down payment options that make financial sense for you with the purchase of a new or used car. We want to make sure you have a sizable down payment to make the monthly payments worth it for you.