How to lower your monthly car payment in Ruston, LA

At Karl Malone Toyota of Ruston, we want to help you lower the monthly payment on your vehicle. To do that, we’ve created a guide on the best ways to decrease your current monthly payment or lower your costs on a new car purchase, no matter your situation. Follow some of our top tips below to see how you can lower the monthly payment on your vehicle.

Consider the Affordability of a Lower Trim

Purchasing a lower-trim model can make a huge difference in your vehicle’s monthly payment. If you want the lowest possible rate, you’ll want to choose the base trim of your intended car, truck or SUV. For example, we currently have the new 2023 Toyota Tundra in stock. It has many available trim options to choose from, including the SR, SR5, Limited, Platinum, 1794 Edition, TRD Pro and Capstone. But if you’re shopping for the best rate for your monthly payment, the lowest trim you should choose is the Toyota Tundra SR or SR5. You'll still get the reliability and comfort you expect from a Toyota while saving thousands of dollars in the process.

Choose a Used or CPO Model Over a Brand-New Toyota

Shopping for a used vehicle or TCUV (Toyota Certified Used Vehicle) is a great choice if you’re looking to lower your monthly car payment. These models offer a more reasonable purchase price and require a much lower down payment. You’ll also have a wide variety of models to choose from, including luxury options. You can opt for the brand, model year, body style or set of features that suits your needs. And when you purchase any of our TCUVs, you’ll receive a complimentary CARFAX® Vehicle History Report™ along with a 12-month/12,000-mile Limited Comprehensive Warranty.* That’s a great deal!

Extend Your Loan to the Maximum Term

Did you know your loan terms can be extended to the maximum length of time allowed by your creditor? The average loan term can run for a total of five years (60 months), and others can run as long as seven years (84 months). Credit history, credit score, income and present debt could affect your loan terms, but asking your loan officer if you qualify for an extended loan term is a great way to lower your monthly car payment.

Consider Placing a Larger Down Payment

Choosing to make a larger down payment on the vehicle you’re purchasing is another great way to lower your monthly car payments. If a large down payment is not possible, making even a small cash down payment can help lower your costs. You may also want to consider trading in your current vehicle and using the funds you receive as a down payment toward your purchase. Check the value of your trade today and receive a great offer in minutes.

Remember That Your Credit Affects Your Monthly Payment

Among other things, your credit is an important factor in determining your purchase eligibility. But don’t fret: Our team of financial experts can help you understand how your credit affects your eligibility. They can also determine whether you need a co-signer. And did you know we can also help you improve your credit so you can qualify for a better rate? No matter your situation, we are here to help you drive away happy!

Browse our great selection of Toyota models today and get pre-qualified for the model that fits your needs! And if you don’t see the vehicle you want on our lot, you can place a custom order online. At Karl Malone Toyota of Ruston, we love to say YES! So stop by today for the deals you deserve!

To find out more about how you can lower your monthly car payment, contact us today or stop by our dealership at 1001 N. Service Road East Ruston, LA 71270 . We look forward to serving our customers near Monroe, Shreveport and Bossier City.

*12-month/12,000-mile Limited Comprehensive Warranty: Whichever comes first from date of Toyota Certified Used Vehicle (TCUV) purchase. Program available in continental U.S. and Canada. See TCUV Warranty Supplement for details