Small Budget Sacrifices To Make To Manage A Monthly Car Loan

Automotive Finance, Credit Education, Used Car Dealer, Used Cars

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Most young people are intimidated by the prospects of financing a used car. But even if you don’t think you have the resources to pay for the car of your dreams, you probably do. Purchasing a fabulous used car does come at a cost, but you don’t have to sacrifice that much. There are likely many little things you can give up that aren’t painful. In fact, these small budget sacrifices probably won’t feel like sacrifices at all.

To find extra money in your budget every month to finance a used car, try looking in these overlooked places.

1. Look at your credit card statements

Most people get their credit card statement and they pay it. Because almost everything is online, most people pay their bills without even checking their credit charges. To find extra money in your budget, make sure to go over your statements to check for things like gym memberships that you signed up for and never use, subscriptions that you have that you likewise don’t need, or even inconsistencies in your billing that you didn’t authorize. You would be surprised to find that most people pay for things they don’t even know they were paying for, simply because they don’t check their credit card statements.

2. Make your lunch at home

Instead of heading for fast food every day, pack a lunch and take it with you. $10 might not seem like all that much. But when you add up $10 a day on work days for a month that can equal as much as $200. When you pack your lunch, you can save all that money to pay for the financing for a used car.

3. Wait for the movie to come out on video

Going to the movies is fun, but it is incredibly expensive. The average ticket price for a movie is as much as $10-$12 in some cities. When you add in the cost of popcorn or candy, and a babysitter if you have kids, going to the movies for two people can cost anywhere from $50 to $100. If you skip the movies once a month and opt to stay home and hit the Redbox, you can put those funds toward financing an excellent used car.

4. Skip the latte

Sure, hitting the coffee stand mid-day is a great pick-me-up, but it isn’t going to get the car of your dreams to pick YOU up. Instead of getting your mid-day or morning cup of joe from a high-priced barista, make a cup at home or grab a fountain drink from the gas station. Most lattes and specialty coffees cost upwards of $5 a day; when you add that up, that amounts to about $150 that you can apply towards financing a used car.

5. Use the free apps instead of subscriptions

If you are a Pandora or Spotify user and have bought into the hype that a subscription is worth the cost, it isn’t. $14 a month might not seem like a whole lot, but it can start to add up. An additional $14 can put you into a higher-end used-car category, and all you have to do is put up with some commercials — which is more important to you?

6. Cut the cable

How much time do you actually spend watching television? Most people rarely watch TV anymore, but it is one of those things that they have an emotional attachment to. The average cost of “basic” cable, which grants you nothing but junk, is about $60 a month. That is a huge amount to pay for something you rarely use. But $60 is a lot to throw into your monthly financing budget.

If you think you can’t afford a used car from Ride Time, think again. If you cut out the little extras you pay for every month that you don’t need, you would be surprised at how much you have to put towards financing the used car of your dreams. Small sacrifices aren’t really that much of a loss, and they are well worth it to drive around in luxury. Check out the vast inventory at Ride Time to choose the car you’ve always dreamed of.


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