Money For Lunch – Use These 6 Methods To Afford A New Car

Use These 6 Methods To Afford A New Car

August 8, 2017 3:48 PM0 commentsViews: 13

 

Are you thinking about getting yourself a new car? Have you been looking at what they cost, and thinking that you can’t afford one? While new cars can be pretty expensive, especially depending on what type you plan on getting, that doesn’t mean you can’t afford one. By taking some small steps, you can make affording a new car a little easier, and hopefully get that car you’ve had your eye on sooner rather than later.

Start Saving Up

The first thing you should do is start saving up some money. The more you can save up, the more you can initially put down, and possibly lower your monthly payments when you get the car. If you are planning far enough in advance, you can put away just a little bit each week, and allow it to accumulate over time. You don’t have to save up enough to buy the car entirely, but the more you save up, the better off you’ll be when it comes time to shop.

Improve Your Credit Score

Another thing you can start doing early is improving your credit score. Your credit score plays a large role in determining what kind of loan you can get for your car, and the better your score, the better the loan rate. Improving your credit score takes time, so start looking for ways to do so now. Pay down your current debts, make sure you pay your bills on time, or maybe even open up a new credit card. Here are some tips to help you out if you’re unsure where to start.

Shop At The Right Time

There are certain times throughout the year that car dealerships tend to offer more sales. By waiting for one of these times to arrive, you may be able to get the car you wanted at a much lower price. For instance, Labor Day and July 4th are often big sales days for car dealerships. In addition, many salespeople need to fill quotas each month, and will therefore be more willing to make a deal towards the end of the month if they haven’t made their quota.  Explore the dealerships near you, and see if they have any upcoming sales or promotions that you can take advantage of.

Learn To Negotiate

Even if the dealership is offering you a good deal, that doesn’t mean you can’t make it better. By learning some basic negotiating tactics, you may be able to talk down the price of the new car. One example is to not let the salesperson know that you need a new car, and that you are just considering it. If the salesperson knows you are desperate, they will be less likely to haggle. You can learn more negotiating tips from this guide.

Get Something For Your Old Car

If you’re currently driving a car, you can get some value from it that you can put towards something new. The better shape your car is in, the more you will be able to get for it. Even if the car is not working, or in a total loss car situation, you can still get some value from it. There are tools online that can help you to determine the value of your used car, and once you do that, you should have a better idea as to how much you will have to put towards your new car.

Find Cheaper Insurance

Finally, there’s more to the cost of the car than it’s price tag. You also have to consider insurance, which is a monthly payment that can add up. When you get a new car, your current insurance costs could rise, which you need to account for. If it goes up too much, consider looking at another insurance agency, and shopping around until you find the best deal.

Every Little Bit Counts

When it comes to affording a new car, every little bit is important. Whether you save up a few extra dollars before you buy it, or you’re able to talk down the price of the car a few dollars per month, it all adds up in the end. Use the items mentioned above to save up or cut down car expenses a little bit at a time, and before you know it you’ll be able to afford that new car.

 

 

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