Firkins CDJR
If you’re searching for an affordable yet reliable used car in Bradenton, Florida, look no further than Firkins Chrysler Dodge Jeep Ram (CDJR). Our dealership offers a wide range of used vehicles under $20,000 to cater to drivers with limited budgets. Regardless of your budget and lifestyle, we can help you get behind the wheel of your ideal vehicle and drive away with a bargain. Besides great used car deals, we provide easy auto financing and exceptional customer service for a fantastic car shopping experience. Explore our used vehicles under $20K now to find your next ride.
A pre-owned vehicle typically costs considerably less than a similar new one. However, it’s still a big investment requiring you to commit long-term financial commitments. Before shopping for a used car, you should properly plan your budget to ensure you can comfortably afford the model you want to buy. Let’s take a look at a few benefits of not breaking your budget when purchasing a used vehicle.
According to financial experts, it’s recommended that you avoid spending more than 10% of your monthly net income on your car payment. Also, your monthly car expenses, including gas, maintenance, insurance, and car payment, shouldn’t be more than 15% to 20% of your take-home pay.
If you exceed these recommended limits, you may put too much strain on your finances, especially if you have other debt obligations. An overly large car loan leaves you with less money to spend each month and can also affect your mental and emotional well-being. On the other hand, staying within your budget reduces your financial burden and gives you greater peace of mind.
If your car payment is too high, you’ll likely fall behind on your loan payments. Each late payment may incur a penalty fee, which varies by lender. Even if you start making on-time payments later and avoid further penalties, you’ll probably end up paying more interest on your car loan. This is because you’ll need longer to pay off your loan due to the late payments.
Another risk of buying a vehicle beyond your budget is that it can increase your chances of defaulting on your car loan and having your vehicle repossessed. When you get auto financing, the vehicle you purchase acts as collateral for securing the loan. This means your lender is technically the car’s owner until you repay your loan in full.
In general, your lender can repossess your car as soon as you miss a monthly payment. However, repossession typically occurs when you’re 90 days late on your loan repayments. After repossessing your car, the lender will sell it at an auction to recover the remaining balance on your loan. Aside from losing your vehicle, you may also be required to pay certain fees associated with repossession, such as legal, storage, and sale preparation fees.
Making late payments or defaulting on your car loan can negatively impact your credit score. A bad credit score makes it more difficult to secure a loan in the future, as lenders will regard you as a high-risk borrower. Even if you get approved for a loan, you have to be prepared to pay a higher interest rate. Poor credit can also increase your insurance premiums, reduce your renting options, and hurt your job prospects. You can avoid all these consequences by sticking to your car-buying budget and getting a loan you can comfortably manage.
At Firkins Auto Group, we make it our goal to help our customers purchase high-quality vehicles without exceeding their budgets. To meet the needs of budget-constrained drivers in the Bradenton area, we strive to consistently maintain a comprehensive inventory of used vehicles under $20,000 that provide excellent value for money. We also offer an array of awesome used car specials to help you save even more on your next vehicle.
At our dealership, you’ll find used vehicles under $20K from various auto brands, including Chrysler, Jeep, Dodge, Ram, Chevrolet, Ford, Nissan, Kia, Mazda, Toyota, and Volkswagen. These vehicles come in many different shapes and sizes, so you’ll have no trouble finding something that suits your driving needs and lifestyle. Whether you need a simple car for commuting, a large SUV for transporting your family, or a pickup truck for towing or hauling, we’ve got you covered. We also have sports cars with an exhilarating driving experience and off-road-oriented models that can handle the most challenging terrain.
Despite their affordable prices, our used vehicles under $20K are all in great condition as they’ve undergone a thorough inspection and reconditioning process. Regardless of which model you choose, you can have the peace of mind that you’re driving home a dependable vehicle that can serve you faithfully for many years. If you want to keep your newly bought vehicle running smoothly and extend its life, we recommend bringing it to our state-of-the-art service center for routine maintenance.
Serving Bradenton, Ellentown, Rubonia, Palma Sola, Whitfield, and Lakewood Ranch, Firkins CDJR is one of the most preferred destinations for drivers in Manatee County looking for the best deals on quality used vehicles. Head to our dealership today to check out our fantastic selection of used vehicles under $20,000. Our friendly and knowledgeable sales professionals can help you choose a car that’s right for you and guide you through car-buying. Don’t hesitate to contact us if you have any inquiries or want to schedule a test drive.
Photo Credit: Cori’s Jeep by Tim Taylor is licensed with CC BY 2.0 DEED
