Shop For a Perfect College Student Car at CMA's Hyundai of Winchester!
Buying a car can be expensive, and every penny counts when you are in college. To make sure you're prepared, you should get your finances in order well before visiting the dealership. The more money you have in the bank when you buy your car, the better. However, when you do go to buy your car, there are a few things you should know before buying. This is why the tea at CMA's Hyundai of Winchester thought we would put together a list of tips for buying a car in college.
Set a Budget
To ensure your new vehicle doesn’t break the bank, you must determine a car buying budget based on your financial situation. Buying the vehicle is just the beginning of your car ownership-related expenses. That means you don’t want to spend every last cent you have on your downpayment or take on a monthly payment that eats up most of your income. Typically your total cost to drive your car should be less than 20% of your income.
Check Your Credit
If you plan on financing your car, good credit is your friend. A high credit score indicates a track record of financial responsibility. It can help you get approved for a lower-interest-rate loan, saving you money over time. There are a few sites out there that will help you find out what your Credit Score is for free.
Are there car loans for college students?
Student car loan programs consider applicants' limited credit histories, short driving histories, and low incomes. Plus, Hyundai will help with a $400 bonus towards the lease or purchase of a brand new Hyundai. If you have any questions about financing a car, please don't hesitate to speak with one of the knowledgeable financial advisors at CMA'S Hyundai of Winchester
How do I choose a car as a college student?
Read reviews from respected sources. Research the car sticker price, car make and model, the resale or trade-in value, and how much repairs could end up costing. One of the main items college students need on campus is a new car, and they need one that is reliable and fuel-efficient. A quality vehicle that can fit any college student’s needs is the Hyundai Kona. The Elantra is also a great option as it offers a modest price for the entry-level SE. You not only get an estimated 37 mpg combined mileage but Hyundai’s SmartSense suite of safety driver-assist goodies. Included are forward-collision warning, automatic emergency braking, lane-keeping assist, lane centering, driver-attention warning, blind-spot monitoring, and rear cross-traffic alert.
Hyundai Finance Center n Winchester VA
The CMA's Hyundai of Winchester financing specialists can help tailor a finance package to fit the needs of college students. Our experience with a wide variety of financial institutions helps us provide financing for all credit levels. To get started, complete our secure online credit application. We'll help you get pre-approved, making shopping for your next vehicle even more accessible.