ways to save for a car on low income

[o2bnocn]

I think it's time I get realistic about saving for a vehicle. I kept putting it off because I'm considered low income. I'm a virtual assistant right now and the paychecks can range to different amounts. I do odd gigs to supplement income, but it only helps so much. I know I might be able to get into a better position if I had a vehicle so I could actually work outside the house.

Any ideas and suggestions?

Please only positive and helpful comments. Trying to remain positive about my position.

[charmaine56]

rent a room,help out a person who needs to get out of the heat. and save that money for your car.

[cdavis31]

An outside job would be more helpful as you get paid more. Have you tried Inbox Dollars? Wishing you luck

[Skyisbluetoday]

Keep track of your spending everyday. Good luck to you!

[tgreen20]

I would say if you got to save for a car then it may not be the best time to get a car, if you are considered low income.

Reasons:
1.) Insurance is high
2.) Gas
3.) Up keep on the car
4.) Break downs of the car
5.) Yearly tag fees

The list goes on, I don't have a car because it's not in my budget the bus is way cheaper

[Tresbn00]

Or you could consider an Elio for sixty eight hundred dollars if you can wait a few months. An Elio is a three wheeled, two seat car (passenger sits behind the driver) that gets eighty five miles to the gallon with an eight gallon tank. In some states you will need a motorcycle license to drive it but the insurance should be cheap. The Elio company has come out with a unique financing campaign as well. I was told that you make your car payment every time you fill your tank which is really innovative. So gas prices by us are about two dollars a gallon which would be sixteen dollars to fill up an Elio. Instead of paying sixteen dollars you pay thirty two dollars and the other sixteen dollars goes towards your car payment.  I am thinking about getting one as a third vehicle. I drive my scooter on nice days which is about eighty five miles to the gallon, Jeep on snowy days and I would drive the Elio on rainy days.

[sherryinutah]

I have income and I have the money I earn online.  It's fairly easy for me to save the money I earn online if I want to save for something special.  I also live without a vehicle and I love not having to pay for auto insurance.

My suggestion is to think about how much you would pay each month for a vehicle and set it aside.  If I imagine paying $200 per month and $50 for auto insurance....

I would start setting $250 a month aside and pretend that I'm covering vehicle expenses.  If you absolutely need it for something else you can "tap" into that because it's savings.  Good luck.

 

[dancer139]

when i was younger i saved for my first car by putting back 5 bucks every pay check.  then bumped it up to 10 bucks.  I could walk to work back then.  But any money I could put back i would.  i used coupons at the stores to save money and  babysat for money  LOL   i know its harder these days,,  but you just have to start that nest egg for your "car" and keep filling the Egg 

[o2bnocn]

I would say if you got to save for a car then it may not be the best time to get a car, if you are considered low income.

Reasons:
1.) Insurance is high
2.) Gas
3.) Up keep on the car
4.) Break downs of the car
5.) Yearly tag fees

The list goes on, I don't have a car because it's not in my budget the bus is way cheaper

Thanks for letting me know. I already thought about all of this. I'm hoping to get a better job after the vehicle so I can afford it. It's just really looking like its time for me to buy a vehicle even if it takes me two years to do so.

[o2bnocn]

Thanks for all the suggestions. Trying to think outside and in the box. Wish me good luck. I think I'll be able to save $75 with my next paycheck. It's not much but it's a good start.

[dreamyxo]

Make sure your credit is good.  Not sure if you are saving for a new or used car but credit is important.  When your credit is good you will get better rates to finance.  Choose a car you can afford.

[oldbuddy]

Or you could consider an Elio for sixty eight hundred dollars if you can wait a few months. An Elio is a three wheeled, two seat car (passenger sits behind the driver) that gets eighty five miles to the gallon with an eight gallon tank. In some states you will need a motorcycle license to drive it but the insurance should be cheap. The Elio company has come out with a unique financing campaign as well. I was told that you make your car payment every time you fill your tank which is really innovative. So gas prices by us are about two dollars a gallon which would be sixteen dollars to fill up an Elio. Instead of paying sixteen dollars you pay thirty two dollars and the other sixteen dollars goes towards your car payment.  I am thinking about getting one as a third vehicle. I drive my scooter on nice days which is about eighty five miles to the gallon, Jeep on snowy days and I would drive the Elio on rainy days.

Looks like with 55,000 already spoken for, it might be pretty hard to get one. My thinking is there is bound to be some owners that are not going to be happy, so maybe there will be a few used ones around once they get popular.

[Liquidfire_43]

Maybe apply for a loan? Depends if you need it as soon as possible.. If you need the car to get a better paying job, then a loan might be something to look into. As a investor of lending club, I seen a lot of notes from home, car, or other purchases.

You have to pay every month with a loan term of 3 or 5 years.. But if you looking for a car (lower than 10k), then most monthly payments will be $100-$300 a month (depending),, If you need the car now, then a loan might be an option.. If you are just saving for one then you must look at ur finances and try to skim off un needed expenses

[ancmetro]

   Any type of transportation is very expensive. Using an automobile is even worse: Monthly payments, insurance, fuel, repairs, parking and even tickets are all stacked up against you. So, think about it before you make any decision.

[patapon555]

You really should sit down and think about how much car you can afford. Maybe you need to get a really cheap and old car.