Know what to do if you can’t make your car payment. If you find yourself in a situation where you are struggling to make a car payment, the worst possible thing you can do is to avoid your lender. Instead, work to avoid repossession by staying in contact and asking about hardship programs. #9 Put yourself in position to succeed long-term. Establish an emergency savings account. Budget-busting unexpected expenses have a way of popping up in life and vehicles can be a major source of these. Save on gas. Consider ways you can get more out of the gas you buy, like using the air conditioning sparingly and removing heavy items from the trunk. Save on your insurance. Shopping for the best insurance deal is always a good idea, but think about all the ways you could get a better deal, like improving your credit score, buying a used car instead of a new one and avoiding 4-wheel drive and high performance cars. © 2013 BALANCE
Know what to do if you can’t make your car payment. If you find yourself in a situation where you are struggling to make a car payment, the worst possible thing you can do is to avoid your lender. Instead, work to avoid repossession by staying in contact and asking about hardship programs. #9 Put yourself in position to succeed long-term. Establish an emergency savings account. Budget-busting unexpected expenses have a way of popping up in life and vehicles can be a major source of these. Save on gas. Consider ways you can get more out of the gas you buy, like using the air conditioning sparingly and removing heavy items from the trunk. Save on your insurance. Shopping for the best insurance deal is always a good idea, but think about all the ways you could get a better deal, like improving your credit score, buying a used car instead of a new one and avoiding 4-wheel drive and high performance cars. © 2013 BALANCE
The-9-Step-Car-Buying-GPS.docx