Own Your Car and Save Money
For individuals strapped for cash, and in this day’s economy that is quite a few of us, I have
found owning my own car to be a blessing. An added car payment and inflated car insurance
would surely have broke me long before now. There are pro’s and con’s to owning your vehicle
but by my estimation the pro’s outweigh the con’s.
If you choose to make monthly installments on a new vehicle, in the first year or two a dealer
may cover any mechanical problems but if you keep a payment longer you would foot the bill for
car repairs while continuing to make car payments. Car insurance is also higher on new vehicles.
New vehicles lose value the moment they leave the lot. Therefore you are making payments on a
car that is no longer worth the price you are paying. With added interest a consumer will often
pay thousands more than the sticker price. A used car has lost value but you pay much less for it.
And by purchasing your car in full you, the price you see is the price you pay.
While car payments can improve your credit rating, late payments will hurt it. There are many
good ways to receive great credit scores without taking on costly auto payments. And once your
credit is damaged it is more difficult to repair it. It is easy to get behind on car payments and
once that happens, it takes little time before the car can be repossessed. Economic times are
difficult right now and finding reliable transportation stressful.
If you purchase a previously owned car you can take steps to protect yourself from a bad product
by, buying from a reputable dealer. You can find many good deals for used cars on craiglist or in
your local newspaper. But, if you choose to buy from a private party be sure and have the vehicle
examined by a good auto mechanic. If the owner is uncomfortable with you asking for this, you
will most likely want to pass on spending your hard earned money. It is important you be sure
the car you select will pass smog inspections, and there are no electrical, mechanical or tire
If any minor problems are discovered in an auto check up you may want the owner to fix the
items or reduce the price of the vehicle so you may take care of the issues yourself. The best
advice for purchasing any vehicle is: don’t rush into decisions. Weigh your options and what you
can afford then STICK to that decision.
Using good sense when buying a used vehicle will save you from serious hardship later. Setting
money aside for unexpected repairs and car maintenance is a smart idea and with the pinch of
economic recession you can ease your burden by having one less expense when you own your