Saving Money Saving Money To Buy A Car?

[Good-Guy]

Having your dream car is a dream of many people in my country. Getting a car is kind of an easy thing in my country due to the fact that many companies in my company have eased the payment policy when it comes to making a payment in order to buy a car. However, despite the fact that it sounds easy, it is not that easy because you still need money and not every one in my country is rich enough to buy a car and this is why many people in my country plan to save money to buy cars. So, what about you? Have you ever saved money in your life to buy a car? I do plan to buy an inexpensive car in the future, but not now. What about you?

 

[Jasmine]

Using your saving to buy luxury items like cars is a good way to avoid debt. You can buy a car by using a bank loan or hire purchase, but this will led you to pay loan installments along with the interest repayment. When I bought my motorbike, I used my own savings.

 

[Good luck]

Saving money to acquire a car of one's choice is not a bad idea at all though it is not easy to save a huge amount of money on a Month basics except one is into one cooperative that can release full money for one after paying one third but mostly,people will rather go for loan to buy car then pay back gradually.

 

[Letlhogonolo]

for me, i like this option of saving a certain amount from our monthly income, like it helps not to take a loan for a depreciating asset. in fact a car if more a liability and needs quiet the maintanance

 

[Good-Guy]

for me, i like this option of saving a certain amount from our monthly income, like it helps not to take a loan for a depreciating asset. in fact a car if more a liability and needs quiet the maintanance

The big problem with buying a car is that even if you buy an inexpensive car, you would need to bear the expenses such as maintenance expenses and petrol expenses. Petrol in my country is becoming expensive day by day and this has been a major problem for many people in our country. Unfortunately, the government cannot do anything about this because petrol is already much expensive at an international level.

 

[funmi]

For me a car is not but a liability only if it used for business purposes other wise it will just be a waste of time and resources. There is this colleague of mine at work that told me of his plans of trying buy a car worth about one million, five hundred thousand naira. And I know what we are earning is not so much for him to be able to afford somuch kind of car within a short space of time knowing that he has no other source of income and he has a wife and kids to take care of so I questioned how he had managed to raise the funds. And he was initially reluctant in providing the answers but later opened up that he had joined a savings plan in a cooperative and was going to be paying them back little by little till he completes his payments. Then I asked him what he needed the car for and he said to drive around and immediately I told him not to buy it just yet and wait for Sometime and use the money to start a business. A farming business and he bought a land and stated making good money.

 

[eldavis]

I have not actually thought about saving money to buy a car before though. For now buying a car is not part of my main agenda, there are so many things I gave in mind to do first, some of them includes starting up a business for myself and investing in real estate.

 

[Alexandoy]

When I was younger I was trying to save money to buy a car. Unfortunately the car during those days were exorbitant and getting a car loan is not an option because banks were so strict. I was past 30 when I was able to buy a used car. As expected the car has many problems and the 1st issue is the air conditioning. In this tropical country it is an ordeal to ride a car with no air conditioning during summer days. But we persisted in using the car because the air conditioning unit was expensive. When I was 40 that was the time that I was granted a car loan by our office. We bought a slightly used Honda Civic that served its purpose. It was a nice car that everyone admired me. From then on we have been used to having a good car that our next purchase was a brand new Ford Escape.

 

[Kendy]

Cars are really expensive these days, although there are some companies which you can buy from hire purchase but I still do not prefer this alternative. I prefer to invest money in feasible ideas like; real estate and agricultural produce because I have a level of assurance that my investment would be less risky. I know investment in cryptocurrency could be one of the best ways to raise money in buying a car but the risk chances. It is only good for one who has the basic knowledge and technicalities used in trading to invest. The last time I tried trusting someone to invest on my behalf, it was not a good experience. One of my relatives bought a vehicle on higher purchase and was able to refund even before the penalty time. It all depends on the level of commitment you put to work. There are people who should not purchase cars through loans especially if it would not serve a purpose of bringing money. The only time I can take a car on hire purchase is when I want to use it to make money from transportation business but if it just for luxury, then I would rather save up till I can afford it.