Everyone would love to have their own personal car to cruise around with-go to work, attend to urgent needs, without having to spend time waiting at the bus stop for a cab to come along. However, putting some money away to save for a car seems to be a difficult thing to do on its own. And it's one of the reasons people don't have a car of their own.
We may not all be lucky to get friends that can gift us a car like the trending video of the guy whose friends bought a car for. But we can actually have our own as well.
As expensive as a car may be, you can still save to buy your dream car.
So, if you are looking to own a car but don't know how to go about it, this post is just for you. Naijauto will be sharing with you how to save money for your first car.
1. Decide on the type of car you are looking to buy
This is the first place to start. Settle on the kind of car you would want to drive, this is to help you know how much you will be expecting to save. You have to first find out why you want a car. Is it to drive to work or are you buying for family use? This is what you should know. You may even opt to budget for a brand new car, or a foreign used or a Nigerian used car. Whichever one, you need to determine the type of car that will meet your specifications and go for it.
>>> More details can be found at: Factors to decide what type of car you need most
Consider whether you will buy new or used, big or small car!
2. Consider the cost of maintaining the car
While everyone wants to own a car, not all ever thinks about the ongoing cost of maintaining the car. You wouldn't want to be in a situation whereby you are unable to pay for running cost on the car. These maintenance can be in the form of vehicle registration, driving license, repairs, servicing and fuelling the vehicle. Not to talk of the car tyres and battery that may need replacing. Just know what you are getting into if you've decided to acquire your own car. It comes with sacrifices though.
3. Map out a budget that you will stick to
Now, you’ve know what you should be expecting when you become a car owner, the next step to follow is to make a budget for the car and stick to it.Check out your income and your expenses to know how much you are able to put aside every week for the car. Depending on what you earn and the price of the car, it may take you longer or lesser time to save up the money. While saving, know that the price of the car may go up.
As a way to motivate yourself to continue saving for your own car, you can place some pictures of the car on your fridge or the wall in your room. This will make you focus on your car goal as you see the pictures every day.
4. Reduce your spending
Sure you have a goal to buy a car, you can reduce your expenses to meet your goal. If you are the type that likes buying trending wears and gadgets because everyone around has them, you might reconsider your decision. If you have no need for an item, don't buy it.Don't even buy on impulse.Remember, you want to drive your dream car. Make sacrifices towards making it a reality.
>>> Recommended for you: Car financing: 10 Dos and Don’ts when you want to buy a car
5. Earn more money
We believe you have something doing to have thought about buying a car. Get a job if you don't have one. If you are already earning look for ways to earn more money. Many options abound. You may take on double shift at work, or look for another stream of income.
6. Negotiate the price of the car
Let's say, you’ve decided to buy a used car, you can ask for a lower price. How will you do it?
Inspect the car. Check out the car's service history, the kilometers it has travelled and the features it came with. This should help you know the value of the car so you can negotiate for a lower price.
Detailed instructions on how to negotiate car price, especially a used car is already put in our previous post. Please check 7 effective ways to negotiate the price of a used car.
Follow each step and you will have your first car within budget
These tips should help you save up some money for your first car in no distant time. So go on, start saving for your first car.
>>> Check out other car buying tips on our car buying and selling section!