Buying a car can be an expensive pursuit. These days when money is tight, and people struggle to make ends meet it might be one expense too far for a lot of folks. But for some that isn’t an option because a car is essential to their daily life. For many of us a car is how we get around during the day. It takes us to and from work, helps with the school run and is there in case of emergencies.
For these reasons, cars play a vital role in the lives of so many people. As such, they’re a necessary expense, one that a lot of us can’t live without. So because a car is so essential it’s important to come up with ways you can get yourself a car without breaking the bank. Now there are quite a few ways you can go about doing this. Here are a few to consider to help get you started on the process.
The most popular and common way of getting yourself a car when money’s tight is to buy a pre-owned car. This has become so much more popular in recent years than it ever was before. The great thing nowadays is that you can get good quality used cars for reasonable prices. For example, if you live in Missouri you should check out cheap used cars in St. Louis to see what they have. It’s likely you’ll find something that interests you because there’s so much choice. And the best part is that you can get a top quality used car for a fraction of the cost of a new car.
Take Out a Loan
You might decide you want to take out a loan and use that to buy a car. Loans are useful for emergencies, but it’s easy to get into debt with. As such, you should probably keep a loan as a last resort. If you need a car but you can’t afford one in your current state you might want to think about taking out a loan to help fund the purchase. If you do this, it will be tempting to try to get yourself a new car using the loan. Try to resist this and stick to buying second-hand. The loan is a useful tool, but it will mean that you’ll have to pay it back at some point so bear that in mind.
Another technique that you might think about using to buy a car when money’s tight is to get a car on finance. This is also often known as hire purchase. It’s where you pay nothing upfront, and you essentially rent the car over a set amount of time paying installments. At the end of the set period, you own the car. So in a sense you’re renting for a set period (minimum of one year) and once you’ve paid the final installment you then own the car. This is a great way of buying a car if you don’t have much capital upfront, but you’ve got money coming in on a regular basis.