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What's the single most important rule to financing a car?
What's the most important rule when financing a vehicle? I'm financing a car and I know many people have rules regarding the practice.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“If you’re financing a car, you should definitely adhere to a set of guidelines. But which one is most important is entirely in the eye of the beholder.
Some of the most important rules include:
- Don’t finance a car that costs more than 10% of your monthly income
- Put at least 20% down
- Walk away if you don’t feel comfortable
- Always shop around
Since these rules all go hand-in-hand, there’s no single steadfast rule that will prevent you from getting burned.
Instead, employ all of these rules, and you’ll get the best deal on a
new car
that’s right for your needs and budget.”View full answer
- Gregory R.
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