Shopping for a Cadillac finance offer is exciting, but it can also be confusing. Thankfully, the Fields Cadillac Jacksonville team is here to help you avoid common financing mistakes. To that end, we’ve outlined five common errors and what you should do instead.
Ignoring Your Budget
Even if you know you can afford month-to-month vehicle payments, not properly budgeting out your financing plan may be a costly mistake. The basic rule of thumb is to keep your monthly vehicle payments to 10% or lower of your monthly after-tax income.
Not Finding the Right Term Length
Our team recommends that you look for financing terms that last between three to four years for the most balanced approach. Longer terms will significantly increase your interest payments, while shorter terms mean you’ll pay far more each month.
Not Putting Enough Money Down
A sizable down payment helps you reduce your monthly payment and improves your chances of getting better terms. We recommend putting at least 20% of the final vehicle price down at signing. If you can afford to do so, you can put even more money down for additional savings.
Not Getting Pre-Approved
You can apply for a Cadillac finance offer before you even visit our dealership. With our simple web portal, you can input your financial information and get a preliminary offer on the model you want.
Not Considering Special Offers
Our team offers numerous financing specials at any given time. If you want to save even more money or get extra incentives, be sure to ask our team about our current specials and savings.
Talk to Our Cadillac Finance Experts in Jacksonville, FL
Now that you know what not to do, it’s time to talk to our Cadillac finance experts. Visit Fields Cadillac Jacksonville today to get a hands-on session with our financial team!
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