The key to making big savings is to cut back on the biggest expenses.One of the largest of these expenses is the family car. Few people realize how expensive owning a car really is.
Let’s break it down.If you must finance your new car, you’re paying even more in interest.Being a new car, you have to pay for the full insurance coverage. You still have to pay for maintainence as well. This all adds up quickly.
Compare all this with something such as a sub $1000 used car. You’ve just spent less than a grand on the car, which is thousands and thousands less than anything new.Even if you drop five grand you still are way ahead of the game.
The cost for insurance is much lower. Since your car is so cheap, you only need the minimum level of insurance required by your state law, which will save you money every month.
This might not seem like the best plan to many of you since it seems like an old car like this would break down constantly.It doesn’t have to be this way. I like to go for reliable imports such as a pre-owned Honda. These are very reliable, lasting hundredes of thousands of miles.
The best way to find old cars like this is to check used car listings, which will many different vehicle options to choose from.Be sure that you investigate the background of any car you’re looking at before you pull the trigger.
If you are willing to drive an old, beat up car, you will be shocked at how much money you can save. Driving an old, cheap car really helps free up your budget while still fufilling the basic task of getting you from place to place. Give some thought to it, you just might make the best financial decision of your life.
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Tags: auto, finance, Cars, Cars
