Other savings strategies to consider:
Buy a car with a high degree of gasoline kilometers: you can search for rated gasoline kilometers for most online vehicles. Large SUVs tend to burn much more fuel than compact cars with carburetion, and hybrid models tend to be the most energy efficient. Not all electric cars consume fuel, but they cost much more than gas burners.
If you plan to buy a car, use a budgeting program to understand what it will actually cost. You must take into account purchasing and tax costs, insurance, maintenance, tolls and parking fees, gasoline and various costs. It is a good idea to create a separate fund for emergency repairs. If you still have money left, think about putting money aside for your next car purchase – the more you save, the higher your potential stake.
If you already have credit problems or find the budget on your income intimidating, consider talking to a nonprofit credit advisor. You can often get useful tips, little or no cost.
Remember, the vehicles are necessities for many Americans, but they should not be a financial burden. Careful budgeting will help you cover transportation costs and stay on the path to financial success.