I know when you are starting out with a new business you need to save money everywhere you can. Is it possible that one of those ways could be with your vehicle?
I used to be one of those people who had to own a new car every three years. It didn’t matter how much money I was wasting, I think it was tied up with my image somehow that I had to have a new car to show I was doing well. Even when I had a low paying job (and was working for the man) and could not afford my car payment, I still purchased a new car.
So the other day I did some math. My husband bought a used truck back in 2007. It was a 2003 Ford F150 “one owner” truck in very good condition. My husband paid $8,900 for the truck and has driven it for years (it is now 2016). He is meticulous about his automobiles and has taken very good care of this truck and is now thinking about getting a “newer” used truck to replace it.
We looked on autotrader.com and in the bluebook and found his truck is worth about $7,500 due to the excellent condition it is still in and its relatively low miles. So I figured that means, after he sells the truck, he only really paid $1,400 for the truck ($8,900 – $7,500 = $1,400). As he has owned it 10 years, when I divided $1400 by 10 years, that is an annual cost of $140 for his truck and a monthly cost of $12!
Wow. I was blow away by this. I realize I have wasted so much money over the years on new cars. Cars I buy for $28,000 and three years later they are worth $18,000 or less. I’ll admit that buying a new vehicle can be quite exciting. If you can afford to do it, and money is no object, then you should absolutely buy new if you want. I am just telling you the lesson I learned from my husband about buying high quality used cars and selling them for almost what you paid for them – and saving tons of money. Money you can use to start your business!
So what do you do if you want to buy a used car but are short on funds? There are multiple payday lenders that can help you get the money for a high quality used car.
Remember, used vehicles can be just as nice and efficient as new vehicles and come with a much lower price tag. Search for cars on sites like cars.com and autotrader.com and look for “one owner vehicles” or cars with low miles and be sure to always ask for a Carfax to make sure the care is free of accidents because that can really affect the value.
Other benefits of buying a used vehicle are:
No Depreciation (or little anyway)
Lower Price (buy it after someone else paid the depreciation)
Huge Array of Vehicle Options
If you are interested in purchasing a used vehicle, and need to get your car financed and won’t quality for a traditional bank loan, contact Check Into Cash and see how they can help you. And remember, if you are looking to save money to get your business started, or just save money overall, do the math and you will probably see that buying a high-quality used vehicle is a much better way to go.
If buying a used car can help you start your business, it is truly a win-win scenario.