Car Note Hacks
2 mins read

Car Note Hacks

Car Note Hacks

A car is a wonderful thing. It gets you to and from work, vacations, and all the destinations you wish to go to. Car shopping is also exciting. You get to pick out what you want, with all the specs you want, and test drive your selection. Once you have picked out what you like, it’s time to buy and ride off the lot. Afterward comes that pesky monthly bill. Here are some car note hacks that can make it less of a burden.


Instead of putting down $5000 on a downpayment put half. Yes, your monthly obligation will be higher, but there is a caveat. After putting a fraction of what you saved for the car as a downpayment, use the rest towards the first month’s bill. This large sum will allow you to hold off payments for several months. Then time is just right and you can pay your bill with just your tax refund or work bonuses each year. It becomes less of a monthly reoccurrence and leaves room for emergencies.


If you need a car, but it came with hefty interest rates and payments due to a low credit rating, you can refinance. First, I recommend getting your credit score higher. Check out Credit Karma to see what’s affecting your score, and ideas on how to get it up. Your car must also meet the lender standards, so check them out before you even purchase the car. Once you have gotten your score up and met requirements find a lender to start the process. You should be able to reduce your high interest rate to lower your payments and put more towards your principal.


Here are other car note hacks. Just like your bank saves your change, so can you. Instead of putting just the minimum on your loan, round up your payments. Instead of paying $325, go ahead and do $350. These additional payments go toward your principal and put you ahead of schedule for paying off that car earlier than expected.

Car notes can be high, but they don’t have to be a burden using these hacks. Check out the video for more on the subject.

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