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Most people have a dream car, even if they haven’t even passed their test yet. The problem is the majority of those people find that the price is too steep for the purchase to be realistic. That doesn’t have to be the case, though. Whether you’ve always dreamt of driving a Lamborghini or Mercedes Benz, here’s how to afford the car you have always wanted.
Sell Your Current Car
The obvious way to afford a new car is to sell your old one. If you’re looking at purchasing your dream car, the profit you make might not cover it, but it’ll likely give you a great head start. Getting into owning luxury cars as soon as possible is the best way to work up to your ultimate dream car. That way, you can get a feel of the more expensive wheels while engaging in luxury car communities. Finding a buyer for selling luxury car is a different game from selling an ordinary one, but the profits are far higher.
Today, some companies will give you cash for cars. What’s great is they buy used cars in any condition. You don’t even have to fix the issues with your car. Applying for it is also pretty straightforward. Just fill up the online application form indicating your vehicle’s specifics and explicitly describing the condition. Wait for them to get back to you for the schedule of pick up; wait for that day to arrive, and they’ll instantly give you the cash as agreed.
Shop Second Hand
Unless you are determined to own brand new wheels, you should consider shopping second-hand, as this will knock a huge percentage of the price off your new car. There are a couple of things to look out for when buying a used car, though, including whether there’s any paint damage and what the mileage is. Always test drive before a purchase, too.
When buying a second-hand vehicle, you can buy from someone you know, a used car website, or a dealership. All of them have advantages and disadvantages. Buying from someone you know may involve emotional attachments, so it’s best to steer clear unless you’re confident everything will be handled amicably.
Reduce Living Costs
If you’re eager to be in the driving seat of your dream car sooner rather than later, you should figure out ways of reducing your living costs so that you can save faster. It’s not as hard as you’d think! More often than not, people spend more money than they realize on items they could easily live without. Some ways to cut back on living costs include:
- Always Switching Lights Off – To reduce your energy bill, switch the lights off every single time you leave the room. After a while, it becomes second nature.
- Batch Cook Meals – Batch cooking meals is a great way of cutting down your weekly grocery shopping bill. By cooking a large batch and storing it in your freezer, the cost of cooking significantly decreases.
- Say No to Plans – When you have a vision – in this case, of owning your dream car – there are some compromises to make, and that includes not going out every time your friends ask you to.
- Limit Your Coffee Run – Those pricey customized lattes can be limited to about twice a week. There’s nothing bad about pressing your own coffee in the morning.
Open a Savings Account
Visibly seeing how much you’re saving will inspire you to keep going, so open a savings account to gradually build up a large sum of money. It might still take a while, but it’ll ensure you stick to your goal and avoid spending what should be going toward your new car.
Today, there are also investment apps that could greatly help you save money. There’s one you can download that will collect your spare change and move it to your savings account. It will help you save even without realizing it. There’s also one where you can schedule the transfer of the money you wish to save, so you won’t have to do it manually.
Keep an Eye on Car Sales
The right car sale could knock a reasonable percentage off your dream car. So, once you are close to reaching your target budget, keep an eye out for car sales. You might even end up with extra cash to help maintain the car once it’s yours!
There’s no feeling quite like finally sitting behind the wheel of your dream car. By being smart with your money, you can get there sooner than you think.
