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How To Buy A Car While Still Studying In The University
As a young adult, most of us would like to reach a milestone. And more often than not, that includes having your own car. However, many college students are still intimidated to do this step, thinking that only those who are wealthy enough can purchase one. If you are dedicated to having your own ride, this post will guide you. As always, it is best to have an informed decision rather than suffer the consequences in the future.
Ask Yourself, Can You Afford It?pay someone to do my homeowrk online
When you plan to buy a car, you need to be realistic. Can your monthly income (assuming that you are working) handle your added expenses? Or if you have cash at hand, can you afford the gas and even parking space every month?
As much as you want to be driving your own car, you shouldn’t jeopardize other expenses as well. College can be expensive, and we are not just talking about the tuition fee itself. You also have to consider your school supplies, books, and even your daily food.hire someone to take my online class
The rule of thumb is, your car should be around 15% – 20% of your monthly budget. So before you start scouting for a car, write down the numbers so you can set a budget.
Be With Someone Who Knows About Cars
If you are not familiar with what’s a good car from not, then we recommend that you call a friend or even a family member to be with you. That way, they can ask the right question at the dealership. Some salespeople are good at manipulating you to buy more expensive cars. After all, that’s a bigger commission for them. Yet again, that could put a dent in your budget. But with an expert on your side, you can choose a model that works perfectly for your needs. And the best part, you won’t go bankrupt.
Go For Used Cars
Who says you need a brand new car? If you are not particular about the model, then pre-used ones should do you good. The most important thing is that you get from point A to point B. If you must know, there are a lot of great used cars that are of high quality and very affordable.
Go To Different Dealers
Like shopping for clothes and other smaller items, you need to scout for the best deals. Going to just one dealer isn’t recommended. Talk to different sales agents and get the best deals. Take advantage of the promo or wait for it, if there will be any. Having said that, maintain a good relationship with the agents so you will be updated if there are promos and discounts.
Beware Of Extremely Cheap Cars
It’s tempting to buy the cheapest car around. But you have to be careful. Maybe you will be spending less on the actual car, but how about the repairs? Again, and we couldn’t emphasize this enough, be with someone who knows about cars.
Change Your Lifestyle
If you want to buy your own car, then it’s best that you change your lifestyle as early as now. You need to assess what are your major expenses and try to cut some of it if possible. For example, are you always buying brewed coffee every day? Why don’t you make your own or find a cheaper option? Do you often party over the weekend? Perhaps, it’s about time that you say no to your friends and just enjoy Netflix on Friday nights. Also, if you need to buy books for college, we suggest finding secondhand ones as these are generally cheaper. Simply put, be smart with your choices.
Improve Your Credit Score
For those who plan to get financing for their car, you must boost your credit score. Now, we understand that as a college student, your score might be lower. If you don’t have a credit card, then apply for one to establish a good credit score. The danger here is that you might overspend. In that case, you need to be disciplined. Do not swipe your card for unnecessary purchases.
Look For A Cosigner
Another option is to look for a cosigner. But if you will take this path, make sure that you will pay your loans on time. Otherwise, you are putting both your credit scores in jeopardy.
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