Used Kia Sephia for sale

4 tips to pay off your car faster

You are looking at a comprehensive list of second hand Kia Sephia offered by private owners and certified car dealers around the Philippines. 

Once you find the car that perfectly fits you, the problem you have now is how you would pay for it. Most of you would opt for car financing rather than cash since you don't have to hand in a large amount of cash at the moment. That being said, you have a monthly amount to pay, and this will go on for years, depending on your contract.

The good thing though is that there are so many ways on how you can pay off your loan faster and easier than what you expect. And that is what we are here for today! Here are 4 tips for you:

1. Rounding Up the Amount

Most of the time, if not always, your monthly payment for your new or pre-owned vehicle will always come with a decimal point, which means there will always be centavos at the end (i.e., P12,223.56). Some of you might pay this exact amount because, well, why do you even need to pay extra, right? You have more bills to pay and that one peso or centavo matters.

On the contrary, if you have made a great financial plan before getting your used car search started, you really wouldn't have to worry about your other bills. Also, the centavos you add from rounding the amount up will be 3a significant deduction on your last monthly payment once you add them up.

2. Make an Extra Payment

You would be paying your Kia Sephia for years, and as we are all aware of, between November and December, most of you will receive a year-end bonus and/or 13th-month pay. Some would even receive tax refunds and 14th-month pays.

With that in mind, use this cash to pay your auto-loan in double. Meaning, instead of paying just one month, pay for two. This will not just shorten your loan period, but you can also skip a month in case you have an emergency.

3. Consider Paying Bi-Weekly

Yes, an auto-loan is paid monthly, but you can consider doing it bi-weekly. This is quite easier since the amount you have to pay in a month will be halved.

Similarly, most of you receive your salaries twice a month. This will make sure you won't spend the allotted amount for your auto-loan to other unnecessary expenses. You can discuss this with the financing institution.

4. Get Some Extra Cash Flowing

Paying for a vehicle monthly is definitely not as easy as purchasing a box of chocolate. This is a five-digit amount that you have to produce on top of your other monthly necessities. Thus, having an extra source of income will help you pay off your 2nd hand Kia car faster.

Consider a small business, freelancing, or a part-time job which can increase your monthly income. Nonetheless, it is wiser to have an extra source of income a few months before even buying a car.

To sum up, paying your car loan easily and quickly is totally possible. Paying it will take a toll on your monthly expenses and budget but will be easier and faster once you consider some of our top tips above.

Philkotse.com is one of the most trusted and most extensive online marketplaces for SUVs, sedans, pickup trucks, and more. Additionally, we also have updated car buying tips and advice, reviews, and news.

Thank you for visiting our website! We hope our advice can be of some help in order for you to drive home a well-kept second-hand model from Kia Philippines with a wise financing plan.