Tax Day may be nerve-wracking, but those nerves can quickly turn into excitement when you discover that you’re getting a refund. And if it is substantial, you may want to think about using it for Bentley financing. If you’re eager to purchase an exquisite luxury vehicle, Fields Bentley Orlando offers these tips to help you get the most out of your money.
Start with a Good Down Payment
The down payment you choose sets the tone for your financing costs. The larger you can put down ahead of time, the better off you will be later on. It is a smart idea to aim for 20% of the sale price, as this will reduce the amount you will need to borrow substantially.
Augment Your Down Payment
In addition to your tax refund, you may have a lot more money to work with than you realize — and it’s in the form of your current vehicle. It could still have a high value, and you should find out how much it is worth to learn about the extra funds you could have for your purchase with a trade-in.
Be Thoughtful About Your Trim and Monthly Payment
Once you have the down payment squared away, the next step is to think about the loan term and monthly payment. The loan term, in particular, you need to be thoughtful about. While a long-term loan helps lower your monthly payment, you will end up paying more in interest. This is why many shoppers opt for a term around four or five years, as this helps them reduce interest payments and creates an affordable payment each month.
Start the Bentley Financing Process in Orlando, FL
Ready to get the Bentley financing process underway? Fields Bentley Orlando makes it easy — just fill out our online application to get pre-approved. Any questions? Get in touch with our financing experts today!
