 TITLE: What’s the Average Car Loan Payment? CONTENT: How to Get a Low Auto Payment\n-----------------------------\nAs you can see, making changes to the factors that go into calculating your car payment can affect not only how much you pay each month but also in total. The good news is that you have some control over all of the moving parts that go into determining your monthly payment.\nHere are some ways to get the right car payment for your budget:\n*   **Choose a less expensive car**: If your monthly budget would buckle with a $30,000 new car, you're better off with a car that costs $20,000 or even less. And remember, new cars can lose more than 10% of their value the minute you drive them off the lot. So if you're looking to save money but don't want a clunker, consider a used car that's still relatively new.\n*   **Put more money down**: The more you can knock down the loan amount, either with a bigger down payment or a trade-in, the less you'll have to finance and the lower your monthly payment will be. Avoid draining your savings for a bigger down payment, though. It's always a good idea to have cash set aside in case the car breaks down or you get slapped with another emergency expense.\n*   **Improve your credit**: If you need a new car right now, this option may not be available. But if you have the time, build your credit score to improve your chances of getting a lower interest rate and monthly payment.\n*   **Pay off debt**: A lower debt-to-income ratio can help improve your chances of getting a lower interest rate. If you have the money and the time, work on paying off some of your credit cards and loans to show lenders you have the capacity to take on and pay off more.\n*   **Ask for a longer repayment term**: Extending the repayment term on your loan will automatically reduce how much you have to pay each month. Just remember that a longer loan term equals higher interest charges, making it more expensive in the long run. If you can afford a shorter repayment term, that's usually the better option. END