Get an affordable car rental or buy a new car – You don’t kill yourself financially on that purchase
Besides getting a loan to buy, the other option you can make is to get an affordable car rental. In case you don’t know, you can also negotiate a lease, and not just for the purchase. But you have to be careful or your expenses could skyrocket.
First of all, you need to know why you need to buy a vehicle.
Take note of these 3 elements:
1 – You must know your credit score
2 – know which model you want
3 – and how much you can afford
The first thing to find out about leasing is the misconceptions of many people. Most of them feel that the lease will mean that you are not really the owner. And when it comes time to get a new car, you have nothing tangible to trade.
Ultimately, it depends on what your plan is for the future of your new purchase.
Do the math. If you can negotiate a good rate that is within your range and compare it to money spent on an interest-bearing loan, you may be able to save money.
If you intend to use it for a very long period of time, then the lease is not suitable for you. But if you are always changing vehicles, then it may be a good alternative for you.
Many people feel that buying a car is an asset, and when it comes time to switch, they have something of value to trade in. But the key point that many people did not notice is that the value depreciates very quickly. In fact, it depreciates at the time of purchase.
If you ever have the opportunity to read “Rich Dad Poor Dad” by Robert Kiyosaki, he will tell you that the vehicle is a liability and not an asset. You might think that once you have paid off your loans, everything will be fine. But if you calculate the interest you’ve paid and the depreciation value, you may change your mind about buying a new car.
This article doesn’t cover everything between getting an affordable car rental you can afford or buying, but it should at least give you something to ponder before making a decision.