Get an affordable car rental or buy a new car – don’t kill yourself financially with that purchase

Apart from getting a loan to buy, the other option you can do is to get an affordable car rental. In case you don’t know, you can also negotiate a lease, and not just to buy. But you must be careful or your expenses can skyrocket.

You need to know why you need to buy a vehicle in the first place.

Take note of these 3 elements:

1 – You must know your credit score

2- know which model you want

3 – and how much can you pay

The first thing to find out about leasing is the misconceptions of many people. Most of them feel that leasing will mean that you are not really the owner. And when it comes time to buy a new car, you have nothing tangible to change.

Ultimately it depends on what your plan is for the future of your new purchase.

Do the math. If you can negotiate a good rate that is within your range and compare it to the money spent on an interest-bearing loan, you may be able to save money.

If you intend to use it for a very long period of time, then leasing is not right for you. But if you are always changing vehicles, then it may be a good alternative for you.

Many people feel that buying a car is an asset, and when it comes time to trade, they have something of value to trade. But the key point that many people missed is that the value depreciates very quickly. In fact, it depreciates at the time you buy it.

If you ever get a chance to read Robert Kiyosaki’s “Rich Dad Poor Dad,” he will tell you that the vehicle is a liability and not an asset. You may think that once you’ve paid off your loans, everything will be fine. But if you calculate the interest you’ve paid and the depreciation value, you can change your mind about buying a new car.

This article doesn’t cover everything from getting an affordable car rental that you can afford or buy, but it should at least give you something to think about before making a decision.