Can’t Afford a New Car? 4 Options that Will Make You Feel Rich

Cars are big-ticket items.  They will easily set you back 20 grand or more, and that’s only for a small car.  If you don’t make a lot of money, it’s difficult to qualify for a car loan for the car of your dreams.  However, you don’t have to fret.  There are several other options for buying a car that will make you feel rich.  Take a look at these four ways you can still afford a car.

Opt for a Car Lease Instead of Buying

If there is a new car you really want to drive but you can’t afford the monthly payment and insurance, you can get a car lease instead.  A lease is basically like renting a car for a long period of time, but you can do it a lot more affordably than buying.  The great thing is that nobody will know the difference but you.  You will get to drive a nice car for less money, which will make you feel richer.

“How sweet it is to drive you”.  Chrysler 300C SRT8 6.1 front 20100801 by M 93, on Flickr.  This work is licensed under a Creative Commons Attribution 3.0 Unported License.

Get a Relative to Be a Cosigner

Sometimes you’re perfectly capable of making a monthly car payment, but the loan provider won’t approve you because of your credit score, age or some other random reason.  If you’re faced with this situation, one thing you can do is convince a relative to cosign the car loan with you.  By signing, they basically agree to pay the loan if you are incapable.

As long as you can prove to your potential cosigner that you can make the monthly car payment, they have nothing to worry about.  You will just use them to get the car loan and that will be the end of it.  It’s great because you’ll be able to buy a car that you wouldn’t normally be able to have.

Look for a Used Car from a Dealership

If you can’t afford a brand new car, that doesn’t mean you have to drive around in a junker.  You can still feel rich by driving a car that is only a few years old.  Used car dealerships often have cars for sale that are only a few years old because they come from car rental companies.  Rental cars are usually only used for one to three years.  That means you can look through the Holt Chrysler Jeep Dodge used car and pre-owned inventory for a great car that will make you feel rich, even though it isn’t brand new.

Shop for Pre-Owned Vehicles from the Classified Ads

Of course, you don’t have to use a dealership to buy a pre-owned car.  You can look through your local classified ads for cars that are for sale by owners in your area.  This is a great way to get a good deal on a pre-owned vehicle because you won’t be charged any dealer and licensing fees.  Plus, cars in the classified ads usually sell for less.

Just because you can’t afford a brand new car that has a high price tag, it doesn’t mean you can’t still drive a nice car.  You just may have to look for other options like the ones mentioned here.