Unless you live in the centre of a large town or city, you will likely need some form of transportation. For most people, this means a car of their own, and this may often represent a significant purchase. If you're in this position for the first time and are considering your options, how can you stretch your budget as far as possible?
What to Think Of
Most people understand that they will need a certain amount of cash to not only purchase the vehicle but to run it on a monthly basis. In due course, they may have to replace it and will, therefore, need to take into account the thorny subject of depreciation.
Every vehicle will depreciate, but some at a faster rate than others. You certainly need to take this into account if you are thinking of buying a brand-new car, but you can often get a deal that is far better if you shop with a used car dealer instead. After all, the vehicle will lose the highest value during its first few months on the road, and the rate of depreciation will taper off significantly after that. You should, therefore, look for a car that is still relatively new and in excellent condition, but will have a much smaller sticker price.
Snapping a Bargain
People may decide to sell a recently acquired new vehicle for a variety of reasons, but their loss could be your gain. After all, it will still have an extended warranty and should be in great condition. You may be able to buy a vehicle that has several upgrades or accessories that would otherwise have been costly to purchase.
If you really don't mind what type of car you drive around in, then you can usually find an even better bargain. Shop for a vehicle that is not quite as fashionable or that may sport an unusual colour scheme. Dealers know that these vehicles may be more challenging to sell, and will typically price them accordingly.
When you buy a used car that comes with a warranty, check the details carefully. If you can, plan to purchase a replacement before this guarantee wears out, and you will maximise your annual budget accordingly.
Have a look at the range of vehicles on offer at your local used car dealer. See if you can strike a deal for the less fashionable model, complete with a great warranty.