Nissan Finance Tips: How to Budget for a New Vehicle

There are a lot of things to consider when you begin car shopping — how much space you need, what type of vehicle you want, which features you need, and, of course, how much you want to spend. Our Nissan finance experts at Woodhouse Nissan Bellevue have a few tips on how to budget for a new Nissan vehicle.

Consider Your Existing Expenses

When you apply for Nissan financing, we look at a lot of factors including your income and existing expenses. You want to make sure that you aren’t spreading yourself too thin. As a general rule of thumb, it’s recommended that you keep your debt-to-income ratio under 36 percent.

Determine What You Can Spend

Next, you want to determine what you can (and should) spend on your purchase. Ideally, you should aim to keep your total monthly expenses (including your auto payment, fuel, maintenance, etc.) under 20 percent of your monthly take-home pay.

We have an auto payment calculator on our site which can help you get a quick estimate of what your monthly payment would be. Our auto payment calculator uses these factors to estimate auto payments:

• Vehicle price
• Interest rate
• Loan term
• Down payment
• Trade-in value

Get an Estimate on Your Trade-in Value

We are always interested in buying quality pre-owned vehicles. You can quickly get an estimate of your trade-in value online or bring your vehicle by our dealership anytime. We look at the current market value of your vehicle and also consider its mileage and existing condition.

Visit the Nissan Finance Team at Woodhouse Nissan Bellevue

Ready to upgrade to a new vehicle? Stop by Woodhouse Nissan Bellevue to shop our extensive selection of new Nissan vehicles for sale today. We look forward to seeing you soon!