We all have so much pressure on us to save, what with the turbulent economic times around us and uncertainties in the job market. Different people could have different reasons and personal goals for saving money. But the bottom line is that we all need to save and put some funds aside each month. Some of the biggest expenses in out life time are our house, car and cool expensive gadgets. Of course we all need a home and the car is the next essential commodity in our life. And if we find our funds short to buy the car of our dreams, we better start saving.
The average U.S. household has more than 2 cars. The statistics reveal the many benefits of owning a car, with convenience and safety as the top leading factors. Plus, having a nice car standing in your doorway gives a good impression of you. Getting easy and handy transportation is a prime advantage as you can go anywhere you want without depending on others. When you own a car, you boost your credit rating too. Moreover you can plan some great outings and trips in your car with your family. These are some good reasons that will motivate you to own a car and save for it.
Let us take some good reason and benefits of saving for a car:-
- You can plan and set realistic goals after deciding upon your budget and the car that you are interested in.
- One can pick from a wide range of cars and they can be from small compacts cars to big sedans and crossovers.
- There are options of buying used cars or new cars. Again it will depend on the individual situations and preferences.
- Once you have a budget, you need to set a time frame as to how you will save the money in such a short time.
- The advantage of planning and saving for a car is that you know exactly how much you will be able to save and when exactly can you plan to buy the car.
- Once you save and have the money ready for the down payment, you can march ahead confidently and ask for the key to your new car.
- Plan on how you are going to pay for the car loans without disturbing the basic and important monthly expenditures of your family.
- Saving and buying the car will make you proud of your achievement and you can reward yourself by going out on along drive with your family in the car you just bought.
A car has become a necessity and is mo longer a luxury. You are not buying a vehicle here but prestige and convenience as well as safety for your family. If you think you are short of money for the car of your dreams, act now and start saving. You can also use a fixed rate bond to save and give a boost to your savings.
Putting away some money regularly is the best way of saving up for expensive item like car. The more you save, the higher will be your down payment and lower will be your monthly installments. Plus, you end up paying lower interest in the long run.
When you purchase a car with cash saved from your hard earned money, you get a feeling of pride. And one is amazed as to how much money they can free up in their budget. The best part is, if you pay maximum cash, you can negotiate on the price of the car with the dealership and lower the costs. This is another good reason to save for the car.