As one of the “major purchases” in life, car buying is one to be carefully considered. Your first task will be to determine exactly what market you’re going for.
There are a lot of choices to consider when buying a car. Your choices will depend on your situation. Even the climate you live in can pay an important role in this decision.
Important information about cars and fuel economy should always be considered. Guidelines for purchasing a car can be found at the Federal Information Center, as well as a wealth of other money related issues. Check it out, you’ll be surprised at the valuable information you’ll find there.
They even have a government site for kids at FirstGov For Kids . It’s kid friendly and contains everything from Arts to Transportation. Even has a careers page! Well, not to get off track but wanted to make sure check out all the great stuff there!
Back on track. You know my philosophy. Informed Consumer – More Savings! So. Of course your first order of business is to RESEARCH!
Always check several resources to get the best price and the best value.
More than likely the $40,000 they wouldn’t spend on that nice fancy car is sitting in a profitable investment earning an income or interest. And I bet they’re not losing sleep over their huge outstanding debts!
This should give you an idea how they got to be millionaires. Not by spending their money, but rather managing it first.
A good financial plan that allows for proper upkeep and maintenance of your family car will payoff in the end. Cars that are maintained properly require less repair and last a lot longer. The next rule in purchasing an automobile is therefore.
Well that’s simple enough, but sooner or later you’re bound to need one. One thing we know for sure. No matter how well you take care of the treasured family car, eventually you’ll need to replace it.
Cars just don’t last forever! Or, you may want to pass a still usable car to a young newly licensed family member and invest in another for the main family car.
This is always a great way to recycle automobiles and save money at the same time. Plus, it’ll make your young driver happy to have their own wheels.
Or, maybe it won’t when they find out all the responsibilities that come with ownership. And I strongly encourage that you teach them and give them that responsibility right from the start.
Teens who are responsible for their own automobile expenses, such as maintenance, repair, insurance, and gasoline are almost always more responsible drivers.
They will develop pride in their ownership and responsibility and therefore a more caring attitude. Besides, it’s a good way to teach yet another financial lesson.
- hidden accident damage?
- false odometer readings?
- been in a major car crash?
- had a car theft report filed?
- flood damage?
- been labeled a lemon?
It seems shopping for the family car can be just as hazardous as driving it!
Cheryl Johnson is a mother of four helping herself and others become and remain debt free. Publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com – A self-help plan, ideas, and resources for debt management, household budget planning, frugal and debt free living, and extra income opportunities. Including money saving tips for groceries, clothing, bills, home decorating, gifts, weddings, buying a car, and much more.
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