I want to buy a Hond fit and I have 1,000 bucks for a downpayment and was wondering.......?

Question

If I should wait 3 months and save pretty close to 3 grand for down payment and then buy one so I have a cheaper monthly payment or just buy one now and I live in VT where should I go for the best fanancing for a vehicle?

Answer 1

over 60 months if you put down $1,000 your payments would be around $313 a month

$3,000 would be  $274

http://www.edmunds.com/new/2008/honda/fi...

Answer 2

Talk to your local Honda dealer.  This is the time of year that Honda runs their special financing.  Buying now at 1.9%-3.9% (depending on how long you finance) may be cheaper then buying in 3 months when the finance rate is normal around 5.9%.  Of course you have to factor in the down payment.  A car like the Fit has a low depreciation rate and in high demand now.

If the dealer does not have any special finance, try a local credit union (if you are a member or your local bank).  People have also had luck with loans over the internet.  I'm not that brave.  it's also nice to have this financing in your back pocket when negotiating with the dealer.  Some dealers will match or beat bank financing if you are approved.  

Talk to a dealer and find out all your options and do some math to see what will work for you.