Buying a brand new car upfront requires you to have a considerate cash availability; most people cannot afford to buy one car upfront in their entire life.
Only a very small percentage of people is able to buy a car upfront, most people take loans or get the car on a lease.
Here we are providing you with the best five alternatives to buying a brand new car upfront.
Look for a Used Car
The best alternative to buy a brand new car is to choose one that is slightly used. If you have some cash available, you could buy a used car upfront which will be cheaper than a brand new one. A car with a one-year use, loses thousands of dollars on the initial price.
More simply, one can say that buying two or more years of used cars, can save you thousands of dollars.
There is a great variety of used cars on the market so you can choose the car that you like and suit your needs. You have to go for little maintenance, and it will look like a new one.
Buying a used car upfront can save you on taking a loan where you will pay a lot on interests and might leave you with a burden to deal with.
Lease Your Next Car
Another alternative is to buy a car on lease. Leasing is an opportunity that allows a person to use a vehicle freely and to own the car once the payments are completed.
A good thing about taking a car on a lease is that you do not have to find a dealer if you want to sell the car later on. You can send it back to the person or company who gave it to you on lease.
If we talk about cost, leasing involves a down payment, first-month payment and other administration fees associated with the lease plan.
The lease payment is always lower than loan payments.
The monthly lease payments are usually a low-cost outing and most people are able to pay it without any hassle.
Moreover, it allows a person to drive the car over a long period as well.
Have you ever heard about car subscriptions?
They are new, but the best solution to buy a new car. This service allows a buyer to pay monthly fees without any interest charges.
Moreover, there is no down payment so one not have to worry about it.
The monthly fees start from a few hundred dollars and go up to 2000$ depending on the car model and company.
Use a Ridesharing Service
If it is hard for you to pay a monthly fee, then a ridesharing service is an excellent alternative to choose. Ridesharing services include UBER, Lyft and more.
One can easily get a new car if he joins some ridesharing service. Your task is to drive and make money.
The monthly earning from ridesharing can be used to pay up the monthly fee, to pay for maintenance and fuel refilling as well.
If you are living in some urban area, getting a new car by joining the ridesharing service will be useful.