If you’re in the market for a new vehicle, or perhaps have already signed a financing agreement for your current vehicle, managing your loan can be a stressful process. However, there are smart ways to reduce your monthly payments and make the repayment process easier to manage. With our Financing team at Cambridge Centre Honda , we’ll go over your various options, such as trade-ins, financing options, making a down payment, and even re-financing potential! We’ll provide you with all of the information you need to make an informed decision, and help you once again feel confident with your automotive finances.
If you’re in the market for a new vehicle, there are really two options available to you when it comes to financing, aside from a straight-cash purchase. Both financing and leasing have advantages and disadvantages, so it’s crucial to understand both and select the one that best meets your needs.
If you need to apply for an auto loan, talk to our Cambridge Finance team at Cambridge Centre Honda to explore your options further.
While it’s easier said than done, making a down payment on a new vehicle can drastically reduce your monthly payments over the term of the loan. A down payment is the money you pay upfront when you buy or lease a car, so the greater your down payment, the less you’ll have to finance in total which in turn lowers your monthly payments. Focus on saving the most amount of money possible before you purchase your vehicle, and your future self will be thanking you for making a smarter financial decision.
Trade-ins with Cambridge Centre Honda can be an excellent way to reduce monthly payments on a new Honda vehicle. When you trade in your old car, truck, or SUV, we’ll apply the market trade-in value to the purchase price of the new vehicle, which can significantly reduce the amount you need to finance or pay out of pocket. Here are some things to keep in mind when trading in your current vehicle:
Individuals who currently own a vehicle and want to minimize their payments may consider refinancing. Refinancing entails securing a new loan with either a cheaper interest rate, or longer/shorter terms. Refinancing auto loans are uncommon, and not suited for all clients, however our team at Cambridge Centre Honda are always willing to explore options to help our clients feel confident in both their vehicle, and vehicle finances. Talk to our team today to learn more.
Cambridge Centre Honda is your Kitchener, Waterloo, and Cambridge-area dealership for all things auto financing and car loan solutions. Visit our team, today, to find the best financial solution for you, and take control of your automotive finances. Visit our Cambridge finance department to get started.