Automotive Digital Marketing

Professional Community for Car Dealers, Automotive Marketers and Sales Managers

Loading... Be Patient!

Budget Buyer: How to Buy a Car on a Limited Income

When you're working with a limited budget but need a car to get to work and to provide transportation for the family, it might seem like your options are limited. There are a few ideas that you can look into so that you can at least get a vehicle that runs and that will get you to where you need to go so that you can save money to get something better in the future. When you begin looking for cars, make sure you get a vehicle history report and information about whether it's been in any accidents or needs any type of mechanical work done.

Donations

Talk to your friends and family to see if they have a vehicle that they want to sell or give to you. If they haven't had any success in selling the car, there is a possibility that they might give it to you in exchange for doing work around the house. Another option would be for them to loan you a car so that you can get back and forth to work. This will give you a chance to make more money to buy something. 

Leasing Options

Some car dealerships have new cars that you can lease. The lease period is only for a certain length of time, typically about 24 months. There are some lease options that are less than $200 a month. As long as you make the payments on time, you don't have anything to worry about, and you can get a different car when the lease ends. 

Take Out a Loan

One of the things that you might not want to do but might have to do is take out a loan. You'll likely need to take the vehicle you're interested in purchasing to the finance company. Once the company sees the condition of the vehicle and talks to the person who is selling the vehicle, then you would get the money to buy the car. You would then make payments to the loan company instead of an individual or car dealer. 

Buy Used

There are likely several car dealerships in your area that sell used cars. They might not be a brand new car, but they will usually be something that you can afford. You usually don't have to worry about your credit score as much with a new car. Since used cars are less expensive, it won't take as long to pay it off. When you purchase a used car, consider buying from a dealership like Young Automotive Group or a similar dealership that specializes in used cars or has a big used car section. Ask if the dealership can report your payments that are made to credit bureaus so that your score can improve. 

Buying a car without a lot of money can seem challenging. If you talk to people about your situation and can offer proof that you can afford a payment, then you can usually get farther than if you aren't working. Negotiate any price to get the best payments or overall price for the car possible.

 

Views: 19

Tags: finance, parts, value, vehicle

Comment

Oops... You need to stop "Lurking" on ADM and become a more genuine Automotive Professional by completing your membership registration. As a registered ADM Member, you can post comments, publish your own articles (be a star!) and start Forum discussions. Stop being an online "Peeping Tom" and JOIN ADM RIGHT NOW!

Join Automotive Digital Marketing

ADMPC is a Network for Car Dealers, Automotive Marketing, Advertising and Management Pros sharing Digital Strategies and Execution Tactics.

Please Consider Automotive Marketing Professional Community Sponsors

ADM Badge

Loading…

Based On Your Interests...

ADM Consulting, LLC

Onsite/Offsite Combination ADM Consulting & Coaching
Select the maximum amount you want to pay each month
$USD
Sign up for

Automotive Marketing Tools

Get ADM Toolbar

Click here to take the ADM Member Survey

Getting too many emails from ADM? Click mailbox below to control which types of alerts and updates you are sent......


Instagram

Top Automotive Marketing Forum Discussions

3. Confirm and Cultivate Your HVA

Posted by Garry House on August 17, 2017

4. Understanding Customer Intent

Posted by Colin Forrest on September 22, 2017

Share the Best Content w/AutoMarketing Community

© 2017   Created by Ralph Paglia.   Powered by

ADM Badges  |  Report an Issue  |  Terms of Service