With cars today having such a wide range of offerings and prices out there, you might be wondering why you should get a vehicle for under $10,000. I mean, you can get a really sweet ride for around $25-$40 grand, am I right?
So why should you buy cheaper?
We've partnered with Reedman Toll Chevy to bring you this post.
Well here are a few reasons we think that keeping your budget under $10,000 might be the right choice for you.
If This is a First Car
Most of us started somewhere, and it probably wasn't with a high priced, brand new rig. Starting with an inexpensive car is a good idea for a first vehicle, especially if it's for your teenager or young adult child. Whether you're paying the bill or they are helping out, you'll likely want to keep the payments as low as possible. And if you have it in your budget to pay cash and can find the right vehicle, even better!
Teach your child about the responsibilities of owning a car, but make sure they can handle the financial obligations.
This is a Second Car
If you already have one car payment yet find yourself in need of another vehicle, you might want to tighten the reins on this one and keep it very reasonable. Having vehicle payments that are too high can make it very difficult to keep your finances on track and afford the other things you need. I'm sure you've heard the term ‘payment broke'. It's no fun having so many payments that your paycheck is already spent before you get it.
You Have a Limited Budget
You might not be in the financial position to purchase a $40,000 vehicle, and that's okay. Luckily there are a huge variety of options out there today for under $10,000. Just take a look at these cars for example. Shop around and do your research, and I'm sure you will find the right choice.
But be aware, many autos that are priced under $10,000 don't last long! There are many people trying to save money on their new car purchase.
These are just a few reasons why you should get a vehicle for under $10,000. You might have a few of your own. But whatever you decide, make sure you're doing what's right for you and your family. Have you ever paid under $10,000 for a car? Share what it was in the comments.