Make a Quality Down Payment

The down payment you make sets the foundation for the deal. Based on how much you pay at the point of purchase, you can decrease your monthly payments and your overall loan amount.

If you're able to, a good down payment amount is 20% of the vehicle's price. This will take a sizable amount off the loan and can even have an impact on the interest rate you get.

Your down payment gets everything started and allows you to drive a vehicle off the lot immediately, so make an investment you feel comfortable with that also sets the tone for the rest of the deal.

Keep the Term Short

Your monthly payment should always be an amount that's manageable for you. If you can keep that payment at a good value and also get a shorter loan term, you'll have fewer payments to make over the lifetime of the loan.

This can allow you to limit interest and get complete ownership of the vehicle by paying it off sooner.

Pay for Other Fees in Cash

When making a deal, there may be additional fees for documentation or sales tax. If you can pay certain fees up front in cash, they/re not rolled into the price of the loan, again allowing you to keep your payments lower.

Make Payments on Time

One of the best things you can do when financing a vehicle is make your payments on time. This allows you to stay on track with your financing plan and continue to pay off your loan at the pace that was intended when you signed the deal.

If you do miss a payment, it can lead to late fees or penalties. This can happen to the best of us, but limiting these instances allows you to pay off your loan and keeps your credit in good shape.