Save Money Hound shows you how to save money for a car with some easy tips.
If you have finished reading How to Save Money for a Car Part 1, you will probably have finished your coffee break by now and decided on your dream car make and model. You should now have a better idea what you can afford and have decided on a suitable budget for your dream car. Save Money Hound will put that car budget to the test to check that you have added in extra costs on top on your basic car budget.
Besides the purchase price of the car, you will need to factor in drive away costs, including any taxes and duties, dealer delivery charges and other additional costs. Just for safety measure add at least one to two thousand dollars to your budget for a bit of fat.
If you are looking at more than the baseline model, you will also need to factor in at least a few thousand dollars extra in your budget if you want extra accessories and goodies or if you are eyeing the top of the line model.
If you are trading in you car, do a bit of research to see how much you think you can get for your car. Consider whether you are going to trade in your car at a car dealer or sell privately? Research whether you might save money if you sell your car privately.
So you know what your goal will be to save money for a car. Decide on your time line for when you need to buy your car by. Set yourself a simple goal. “I will buy my new car for a cost of no more than $15,000 by this date”. Work backward with your goal and work out how long it will take you to save money to buy this car.
Consider whether you intend to pay for your car completely by cash or a combination of cash and hire purchase. It is a good idea to pay for your car completely by cash but if is not possible, decide how much you will pay by cash and how much you will borrow.
Is your goal realistic to save dollars by a certain date? Can you afford it? What will you have to give up to buy this dream car? Good luck saving money for that dream car. It will take lots of hard work so start saving now.
Other Save Money Hound articles
Save Money for a Car Part 1
How to save money on gas
Easy tips to save money
How to save money on bills
Top ways to save money
