How to save money fast for a car

To save money fast for a car, there are several options available to you. As you usually won’t need to save as much as you would for a downpayment on a new house, saving for a car should prove to be a little easier. However, you’ll still need to be smart with your money if you want to be sitting behind the wheel any time soon.

Try to fix things yourself

A great way to make some significant savings is to try to fix anything that breaks yourself. Thanks to YouTube and the internet at large, you can now find out how to fix pretty much anything online. From leaky pipes to the zipper on your jeans, it’s always more cost-efficient to fix these things yourself rather than pay someone else to do it, or replace them entirely.

Think before you splurge

Succumbing to instant gratification is one of the biggest opponents of saving money fast. Before you make a significant expenditure, be it an impulse decision or not, give yourself at least three to four days to think it over. This prevents the impulsive part of your brain that wants to get that quick serotonin hit once you make a purchase from taking over. 

If you really want to test yourself, consider only making significant purchases after 30 days have passed. This is a sure-fire way to keep your impulse buying in check and gives you enough time to suss out if there’s a better deal elsewhere.

Buy your car at the end of a financial quarter

If you want to get a good deal on a car, the best time to buy is usually at the end of March, June, September, and December. Why? Because most car dealers are given specific sales targets to reach so that they can claim their financial bonuses. While these targets are set weekly and monthly, the big bonuses are given out quarterly. This means that you’re more likely to be given a better deal on a car at the end of each financial quarter as the car dealer will be keen to hit their quarterly sales target. 

Banking team