When planning to buy a Cadillac vehicle, there are a lot of things to think about. One of the first things to consider is how much money you can put up right away. The Cadillac financial experts at Fields Cadillac St. Augustine offer these down payment tips.
Aim for 20 Percent
The more money you can supply for your down payment, the better off you will be. This is because you won’t have to borrow as much from a lender, which can reduce the loan term and further cut your expenses. While there’s no hard and fast rule about down payments, the general recommendation is that it should be at least 20 percent of the sale price.
Increasing Your Down Payment
For a luxury car like a Cadillac model, getting up to 20 percent may seem like a lofty goal. The good news is that you may have something right now that could help you reach it: your old vehicle. It’s a smart idea to find out how much it is worth to determine how it can contribute to your down payment. If it is a newer model and in good condition, trading it in could give you all of the funds you need.
Start the Cadillac Financing Process in St. Augustine, FL
Once you have your down payment figured out, it’s time to start the Cadillac financing process. Our Cadillac dealership in St. Augustine, FL, makes it simple. Just fill out our online form to get pre-approved for your loan, and then one of our financing professionals will be in touch. If you have any questions, contact us or come down to see us to speak to someone in person.
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