subject: Cars and Economy - What You Shouldn't Save Money on [print this page] Cars and Economy - What You Shouldn't Save Money on
Everyone is looking for a cheap car. Even if you want the best car your money can buy, you would want to end up with the cheapest car. On the other hand, cheap cars are indeed available. But you would want to really save on a cheap car that really gives you savings and value at the same time. People concentrate only on the purchase of the cheapest car. This is quite understandable since it is not advisable to spend more than you can afford. Otherwise, you would be buried in debt for a longer time than you have planned. But you should also consider the maintenance and use of a cheap car.
Purchase Price over Maintenance Costs
Again, even if you are looking to buy cheap cars it is always important to go beyond the purchase price. For instance, you may opt to buy a secondhand cheap car instead of buying a brand new car. When doing so, you actually save on the purchase price a lot. However, you would have to check out cheap cars thoroughly before buying. You would not want to end up with a craggy old car. You would only have the cheapest car if you end up with a cheap car that is in good condition.
Even then, you would need to anticipate the level and extent of car maintenance. Secondhand cheap cars would generally need more maintenance. The older the car, the more expensive it would be to maintain a cheap car. So in the end, even if you get the cheapest car, your overall expense would still come out more expensive. So don't save on the purchase price for the cheapest car if it's going to cost you most to maintain.
Don't Keep the Car Too Long
If you think you are saving money when keeping cheap cars longer, you may be wrong. Especially with older cheap cars, you should let it go when it starts causing you bigger problems and repairs. The cheapest car might end up in the junk yard. But you would still save money on maintenance. Even if you have to check out the cheap cars in the market to get the cheapest car again, this is still a cheaper option. But again, choose the cheap car that would give you value for your money. Don't try to save money by keeping a junk car.
Don't Look for the Cheapest Premium
Even when buying cheap cars, car insurance is still mandated by law. That is why you would need to include budget for insurance. Even if you have the cheapest car in the market this is still so. Some take this as a burden. That is why they simply get the minimum insurance requirement for their cheap car. But then the insurance protects you as well. So instead of trying to save money on insurance, you should set a budget and try to find the car insurance policy that would offer the most coverage for you and your cheap car. By doing so you will get the most coverage that you can afford. But on the other hand, you don't end up spending more than what you can afford either.
