For most people, buying a car is one of the biggest purchases they’ll ever make. So it makes sense you’d want an experienced automotive finance partner by your side to help you get the most for your money. And that’s exactly the role our Honda financing experts serve.
How Much Should I Spend on a Car?
When you’re ready to buy a car at Keyes Honda, one of the first things you should do is create a budget. While doing so, keep in mind that the cost of owning a car is more than just the monthly loan payment. There’s also insurance, gas, and maintenance to think about. Plus, you’ll want to factor in where you’re at financially today with where you think you’ll be down the road.
A general rule of thumb is that car buyers should allot 15% - 20% of their take-home pay to a car, but this could well change during your budgeting and ‘personal assessment’ process.
Why Should I Get a Preapproved Loan?
Getting a preapproved loan with our local Van Nuys Honda dealers is always a smart move. For example, getting preapproved online before you start shopping at our dealership means you’ll spend less time spent filling out paperwork here. Also, a preapproved loan shows that you’re serious about buying a car and that you have the necessary funds.
What is the Ideal Length of a Car Loan?
Similar to the question of how much you should spend on a car, the ideal length of a car loan depends on your budget and short-/long-term goals. You’ll also want to factor in any Honda incentives you qualify for. However, one thing we can say for certain is that the best loans are 60 months or less. Even though your monthly payment would be less at 72 months instead of 60, ultimately you’ll end up paying more interest on the longer-term loan.
Finance a Honda Today
Whether you’re interested in a new Honda for sale or one of our immaculately maintained certified pre-owned models, your confidence and satisfaction is our top priority. That’s why we practice complete transparency to ensure you get the best car at the best price, with all of your questions answered.Learn more about financing a new or used car with Keyes Honda of Van Nuys financial experts.