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Cars are, for most people, a necessary purchase. Unless you live in a particularly well-connected city, it’s likely that your car will be the main way you travel to work, get groceries and travel pretty much everywhere else. But, when you need a car but don’t have the finances quite in place, you can end up in a real Catch-22.
So, without further ado, here are a couple of things to think about while you search for your car to help you get the best deal and not break the bank in the meantime!
Consider Leasing or Financing
To buy a car right off, you will need to have all the funds in place. However, leasing or financing a car is a good way to get some wheels for a monthly fee.
Leasing a car is quite a simple process and you shouldn’t even need to make a down payment. Plus, when the lease ends (the average lease is around 3 years) you have the choice of whether you want to renew your lease or just walk away. This is a good deal for many people as it means that you can drive a good car while saving up to own one. It’s also a good deal for people who really like cars as you can trade in your lease for another car too.
Leasing may also be a good idea if you are struggling to find car insurance you can afford as many leased cars come with insurance as part of the deal. Obviously, you should check that you are getting the best deal here, but it is certainly worth considering.
Financing is slightly different. You will need to make a small down payment but then each monthly payment you make goes towards eventually owning the car when the finance agreement is complete – usually around 5 years. This is a great way to get to own a car in the end, but, like the leasing agreement, you can always trade it in and start again if another car catches your eye.
Financing can be an expensive option depending on the car you get so do the math to figure out how much you will be paying overall. However, as this option allows you to get the car you want now for an affordable monthly cost, it will certainly fulfil your immediate needs.
Have a look at WCVolvoCars.com for some more details and to figure out if either of these options could be for you.
Go For Second Hand
If you are a car fanatic, it might not have occurred to you, but you can find some incredibly snazzy used cars on the market that sell for much cheaper than their new counterparts – even when they are only a year or two old and have barely any mileage.
Buying a second hand car can be a bit of a gamble as you don’t always know why someone is selling, but if you go to a trusted trader, you should be able to find a decent car at a reasonable price. Second hand cars should always be recommended to new drivers as they may also be cheaper to insure.