How to manage the high costs of leasing or buying a vehicle

By Renee Horne, Chief Marketing & Customer Experience Officer for Chase Auto at JPMorganChase Car prices may be volatile in 2025, so many consumers will have to be even smarter with their money. Whether you’re looking for a way to commute to work or school on your own time, or you’ve been saving up for your own set of wheels to go on countless adventures, in today’s financial climate, managing your vehicle loans efficiently is key. It could help you save money and limit potential headaches down the road. Here are some helpful strategies to manage your vehicle payments: Budget wisely. Before signing on the dotted line, make sure that your monthly payments align with your financial goals. Don’t stretch your budget too thin. It’s better to set your car budget first and then find a vehicle that fits that budget, rather than finding a car and potentially being disappointed if it’s more than you can afford. Using a car payment calculatorcan help estimate your monthly car payment for different scenarios, by inputting the ballpark amount you’d like to finance along with some other basic info. Automate your payments. Some lenders offer the option to automate your monthly payments. This...