Build car-buying confidence Financing a new vehicle can be confusing without the right information State Farm Bank is here to help car-buying go right, because financing a new vehicle can be confusing without the right information. Watch Justin Willman, a celebrity illusionist, use magic to cover the ins and outs of vehicle loans. What to Consider When Buying a Car Your browser does not support this video. 05-15-2019 Video Transcript Build Car-Buying Confidence APR Shell Transcript VISUAL: Open on State Farm Bank® Logo over red. 4-note sonic brand. JUSTIN: How’s it going? ATTENDEE: Good, how are you? JUSTIN: Let me guess, you’re looking to take home a new car today? ATTENDEE: I am. JUSTIN: Congratulations! ATTENDEE: Thank you. JUSTIN: Hey, let me show a little trick to keep in mind when negotiating with the dealerships. Do you happen to have four red cups? JUSTIN: I’ll use mine. Now there are four factors people tend to focus on when buying a new car. Those are trade-in value, down payment, purchase price, and of course, monthly payment. Do you have a one dollar bill I can borrow? JUSTIN: So, tell me, of these four factors, which one is most important to you? ATTENDEE: Definitely monthly payment. JUSTIN: Monthly payment, I feel you. You’ve got to be careful though. Make sure you focus on all four factors and not just one. For example, maybe you’ll get that low monthly payment, but you might see that money show up in a higher purchase price. Let’s say for example, it’s a low down-payment that is important for you. You might get that low down-payment, but they may try to make up the money somewhere else, it might come out of that trade-in value. I’m serious. If you’re not careful, you might end up getting pennies on the dollar for your old car. Talk to my buddy Eric back there, he’s a State Farm agent. Here to help you through loan illusions like this one. And, here’s your dollar back. SUPER: Here to help car-buying go right. CARD: Here to help life go right.® CARD: State Farm Bank® Logo with 4-note sonic brand.