When you’re looking for a new or pre-owned Nissan, figuring out how much you can afford can be a bit of a daunting task. But at O’Brien Nissan of Bloomington, we’re dedicated to making our customers as knowledgeable as possible of the buying process and what you can do to make it easier.

Budgeting for a new car starts with getting the full breadth of the vehicle’s cost in focus. It’s not just the sticker price – from there, you need to factor in title and registration fees, sales tax, and extended warranties. Other costs to take into consideration are car insurance, fuel, regular maintenance, and potential repair costs. Once you have all these things considered, you have a rough idea of how much it will be per month to afford your new car.

Once all of the costs are in view, you then need to figure out what the down payment will be on your vehicle. Obviously, the bigger down payment you can swing, the better. That will mean less in monthly payments, and less of your money that’s going towards interest over the life of your car loan. If you’re looking to add even more to your down payment, trading your current vehicle in is a great idea. It adds your vehicle’s current Kelley Blue Book value to your down payment, making it go much farther.

With the payments and credits figured out, you need to take your own income into consideration. It’s wise to make sure whatever you’re paying in total for your vehicle that it doesn’t cost more than 20 percent of your monthly income. And do you know who is really good at respecting your budget? The experts in the new car financing department at O’Brien Nissan of Bloomington. We work with you to make sure your vehicle is going to do the most with a deal your budget is going to love. Stop in today and see for yourself!