Whether you’re in the market for your first car or need to replace the one you’re currently driving, it can seem like there’s never enough money in the bank to justify your needs. But don’t feel bad, you’re not alone. Nearly 80% of American workers live paycheck to paycheck.
However, if you need a car (and need one quickly), you may be surprised at how many ways there are to get the money you require. Of course, there are loans you can take out, even if you have bad credit (which we’ll cover). However, if you’re resourceful and committed to your goals, you can make quite a bit of money in a short amount of time to fund your automotive needs.
Don’t believe us? Keep reading for our top five tips on how to fund a new vehicle.
1. Get Pre-Approved for a Loan
Ideally, you could take out an auto loan. However, as mentioned above, this can prove difficult if you have bad credit or no credit. Fortunately, there are solutions to these problems.
First, you can find yourself a co-signer, we recommend a parent or grandparent. However, this is quite a favor to ask someone, as they will be equally accountable for the loan, should you fail to make payments. It will also be recorded in their credit history.
Alternatively, there are bad credit loans one can obtain, but those typically come with higher interest rates. Finally, consider asking different used car dealerships about dealership loans. They can sometimes provide decent loans and rates for people with less-than-ideal credit.
2. Sell Your Stuff Online
If you need a new car, you can also sell extra or unused items around your house. Most of us have way more stuff than we actually need that just sits and collects dust. Put your unused or unneeded items up for sale on the Facebook marketplace or Craigslist.
3. Sell or Trade-in Your Current Car
If you already have a car, you have some other options. You can try to sell it privately or trade it into a dealership for credit on your next car. Alternatively, if it’s an old car with very little value, you can look into “junk my car for cash” options to get the most out of it.
4. Pick Up Extra Shifts at Work
If you need a new car and are willing to put in the time, you could make more money at work by picking up extra shifts (if that’s an option). If that’s not an option, you could consider getting a part-time job doing something else. If you work hard for a few months earning extra money, you could fund a new car in no time.
5. Start a Side Gig
Lastly, if you don’t like the idea of working for someone else, start your own thing. You could do favors or chores for people around your neighborhood, such as:
- Mowing lawns
- Removing dog waste from yards
- Walking dogs
- Cleaning houses
- Washing cars
- Getting groceries
- Running errands
- And more
Be creative and think about ways you can help people around your community, including friends and family members.
Need a New Car?
If you need a new car, there are plenty of options to get cash fast, as you can see. However, there’s a lot more to owning a car than just making your monthly payments. Our blog is dedicated to helping car owners save money and take care of their vehicles.
Be sure to check out some of our other articles before you go for more information. Good luck!