This post is sponsored by Cars.com
Can I tell you how amazing life is without car payments? When buying a car it’s so easy to get caught up in having the newest, nicest, biggest car that most people lose themselves financially in the process. Since having children I am passionate about living debt free and sharing my excitement about it with others. So, here are 3 easy ways to make sure you never have another car payment again.
Save Your Money
Yes, it’s that obvious. Do whatever you can to save, for example many years ago we got rid of our TV service. It was close to $150 per month and we just didn’t need TV anymore. Take a look at your bills and see what can be cut and also call around to get price comparisons on things like home insurance, internet etc.. to see where you can save. If you have time you can pick up a second job, or ask for extra hours at your current job.
A few years ago the thought of buying a used car was completely foreign to me and my husband. Without much thought we had always dismissed the idea thinking that any used car was a money pit. We’ve learned it’s quite the opposite actually. As soon as you drive a car off the lot it deprecates in value. You are paying a premium for a warranty when the fact is, most new cars never even need a service covered by a warranty. It’s also possible to get a warranty worked into your deal when buying a used car and the savings is huge. We bought our first used car this past January and it was practically brand new! I couldn’t believe the amount of money we saved just by buying barely used. A great resource for buying used is Cars.com
Ignore the pressure
Everyone has the same thoughts, you think “well, it’s only $100 more per month” or “but I really need leather” or my favorite, “it’s interest free for 60 months”. Those are just traps to get you to spend more than you can, and buy more than you need. It’s SO easy to get caught up in having the nicest car, but speaking from experience I can tell you the feeling of having no car payments is much nicer than having the “best” car 😉
No matter what you do, just know that it is possible to be car payment free. You have to believe you can do it, put a plan in action and find out for yourself how rewarding it is to pay all cash for such a big purchase.