You want to go to college, but you need transportation? How can you afford your own car when you are also facing huge school fees? There are several ways you can make it happen. Here are some tips quoted by Otodiva.com from tractionnews.com. Come on, let's see!
1. Paid off
Do you have money saved from leftover pocket money or do you still have extra money from a side job?? You may have to decide to pay off the car in full if it is in this position. If you can, this means significant savings in the long run. Interest rate, no matter how low, can add hundreds or millions of dollars extra over time versus the original price tag. Paying in cash is a way to avoid additional fees. Besides that, Owning the car outright means you won't be at risk of defaulting on the loan and seeing the vehicle repossessed.
2. Buy Used
What easier way to pay cash than to buy something cheaper? Buying a new car comes with a hefty price tag, but the vehicle will start depreciating as soon as you take it home. Not like real estate, like housing, cars generally do not retain or increase their value as they age. An exception to this can sometimes be vintage vehicles, but it is not the ideal kind of trip suitable for freshmen. Depends on your budget and goals, You might be able to find something with low mileage and still on the newer side, as below 5 year, with a much cheaper price than the same when it was new.
3. Test Drive Vehicle
Even if you get to the parking lot in a few minutes, then you immediately get the right vehicle and you immediately try it, then you feel like you fit the car, don't buy it yet. Try going, to view a number of vehicles and test drive each. You may find that the same vehicle you like on one lot is cheaper on another, especially if you decide to buy with a private seller and bypass the dealer. Savings on direct purchases from previous vehicle owners can reach millions of rupiah.
4. Do an Inspection
Whether you decide to buy from a dealer or a private seller, taking the car to a trusted mechanic before purchasing is a must. Even if the car seems like a fantastic deal, there may be hidden problems lurking beneath the surface waiting to raise your costs tremendously. Check thoroughly for signs of trouble, such as undisclosed water damage.
Another way to check a vehicle is to purchase a copy of its history report. You can review the history for any red flags, such as past accidents involving vehicles. You don't want to accidentally buy a useless item with a bad record, right??
5. Consider Long-Term Costs
Often, when someone is in the market to buy a vehicle, the main focus is on the price tag which says the price of the car itself. If your finances are tight, You may also want to factor in future costs. In addition to any loan payments you may owe, maintenance, Mileage and insurance are also worth looking into before finalizing your purchase.
Some higher end brands come with higher maintenance costs as well. Some vehicles have bad enough gas mileage that you may find that vehicle use is unsustainable over time. Finally, some vehicles are more expensive to insure due to considerations such as the cost to repair or replace them.
Doing your due diligence first can help you get an excellent trip at an affordable cost, both upfront and long term. While better costs may be a necessity for the average person, when you're facing mounting college debt, it's clear that's your priority.
Read too, Tips to Avoid Panic When the Car Reverses on an Uphill Road
