Car Buying Guide: Shop Smart

Huntington helps you shop smarter with our car buying guide. Figure out what purchase is right for you by browsing our auto buying resources. From auto financial calculators and more, we have the tools you need.

What to Know When Buying a Car

Car shopping comes with a number of considerations. From what monthly payment you can afford to buying or leasing, the options can feel overwhelming. Huntington is here to help and let you make the smarter choice for your next vehicle purchase.

Ready to buy or refinance a car, truck, or motorcycle? Learn about auto financing options and auto loan rates from Huntington.

What car can I afford?

Calculating what car you can afford depends on factors like current savings for a down payment, annual income, and monthly expenses. Simply put, you can determine what car you can afford by comparing your current budget to your estimated monthly car payment.

Try out these financial calculators to help decide what you can afford:

  • Car Affordability Calculator - Use this calculator to estimate how much car you can afford to purchase based on monthly payment, loan term, and down payment.
  • Monthly Payment Calculator - Calculate your monthly car payments using this tool and determine how much you owe each month to pay down your loan.
  • Monthly Spending Calculator - Find out how much you're spending each month and where you need to cut back to achieve your savings goals.

Should I buy or lease a car?

The decision to buy or lease a car depends on both personal preference and financial factors. Leasing a car could be right for you if you wish to spend less up front and on monthly payments. Buying a car could be right for you if financial freedom and owning your car is top of mind with paying off your auto loan.

Unsure if you should buy or lease a car? Try out our auto calculator for leasing vs. purchasing to help determine the average yearly cost of either purchasing or leasing a vehicle.

Should I buy a new or used car?

There's a lot to consider when deciding between buying a new or used car. With a new car, you can get exactly what you want with the latest technology, but this also comes at a higher price tag. Buying a used car can help you save more money, but in turn, the vehicle depreciates faster over time. Market availability also plays a large role so your decision may be dependent on what options are readily available to you in the new and used car market.

Use this calculator to compare the cost of a new vs. used car and help decide which choice may be better for you.

Why refinance a car?

An auto refinance involves taking out a new loan (with different terms) to pay off the balances of a current loan. The refinanced loan also requires transferring the title to the new lender.

Auto refinancing can ultimately help save money over time by:

  • Lowering your interest rate.
  • Decreasing your monthly payment amount.
  • Changing the duration of your loan.

In general, refinancing a car could be a good option to consider if your credit score has recently improved, you didn't receive the best rate to start with, or you're looking for a lower payment. However, it's important to know that refinancing is not right for everyone. Be sure to talk with a lending specialist to understand what is best for you and your unique financial situation.

Other Car Buying Resources

Kelley Blue Book

Access the definitive new and used car pricing resource. It includes finding your current vehicle value, nationwide new or used car pricing, expert reviews & ratings, and other helpful information.

Visit Kelley Blue Book

Association of Consumer Vehicle Lessors

Huntington is a member of the Association of Consumer Vehicle Lessors, a trade association that believes high ethics and vigorous competition enhances consumer leasing confidence. Discover articles, quizzes and more to help your purchase decision.

Visit ACVL

More Financial Calculators

Explore more of our auto financial calculators and get closer to knowing what vehicle is right for you.

Learn More

Apply for an Auto Loan

Ready to start your car buying journey? We encourage you to visit your nearest Huntington branch, or call our lending center at (800) 628-7076. You can also fill out an online application.

From there, a lending specialist can help you with your application. You don't need a Huntington bank account to apply and qualify for our auto loans.

Apply Now

Direct Auto Loans are only available for Ohio, Illinois, Indiana, Kentucky, Michigan,
Pennsylvania, West Virginia, Wisconsin, Minnesota, South Dakota, and Colorado residents.

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