How to Buy a Car When You’re on a Budget
My first car was 5k, I drove it 5 years, and sold it for 4k
Last year, I decided to sell my first vehicle which had served me well for 5 years, and fly to my new home across the country.
I ended up selling my car for just 1,000 less than I bought it for AFTER using it for 5 years.
The new car I purchased I’m sure will give me the same sort of return.
When you’re on a budget, a fancy car is often at the bottom of your list of priorities. You may even consider leasing to avoid the cost. But by driving a used car, I was able to spend 12 times less than I would have through leasing a vehicle- even if that lease had hypothetically cost me only 200 dollars a month.
Here are some of the best tips I’ve learned regarding what to look for when buying cars on a budget.
What to Look For
1. Reliable Models
Sure, you’ll pay more for a Honda or Toyota- even used, but it will be well worth the money you save in repairs over the course of your time with the car.
My first car was a 2004 Honda Accord. My second is a 2013 Honda CRV. Over the course of the life of both of these vehicles, I have had very minimal repairs.
