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5 Things You Can Do With the Money You Save From Buying a Used Car

Make All Five Happen With Express Auto Credit

used cars in El Paso

Buying a car is an investment but it’s a different type of investment because unlike a house, it doesn’t increase in value over time. Anyone will tell you that the second you drive your new car off the lot it’s already depreciated in value. So why buy new? We all want that new car smell or knowing that we’re the first to use it. However, when a used car is as good as new, there’s no reason to go the other route.

If you’re currently in the process of saving for a car, then you’re already on the right path. Even if you haven’t set aside money but know that you need a car because let’s face it commuting in El Paso sans vehicle is quite impossible, you can still take advantage of the savings you’ll earn when you buy used.

Just how much can you save? To put it into perspective, we’ve listed the five ways you can spend that money both wisely and with pleasure, you decide!

1. Pay off a credit card or put a good chunk of money towards the balance.

Credit card debt can be suffocating. Even when you pay more than the monthly minimum, it can feel like there’s no end in sight. And that’s because of the interest you accumulate month after month of having a balance. With the extra money you’ll have from not having an outrageous car payment, you can start paying off that credit card and soon the balance will be wiped out! It’s not impossible and you have to start somewhere.

2. Go on a weekend getaway.

We all deserve some time away from our offices and busy work lives. Numerous studies have pointed to the correlation between vacation and productivity, citing that time away from work can make us more productive and creative once we return. According to Sabine Sonnentag, a professor of organizational psychology at the University of Mannheim in Germany, even a weekend getaway can reduce stress. We suggest you use the money you saved from buying a used car and take a weekend trip to Phoenix or Austin, or even up north to Ruidoso.

3. Buy a new phone because yours is on its last lifeline.

If you’ve delayed buying a new phone because you truly can’t afford one, we commend you. While others are quick to buy the latest phone, you’ve done your best effort to stick to the one you have. But perhaps it’s now time for a new one! You won’t feel guilty when you trade in your iPhone 5 for the iPhone 8 or maybe even the X!

4. Start that side business you keep talking about.

Having a passion is important. When you realize that passion is profitable, acting on it tends to be the most difficult aspect of it all. Whether you’re looking to sell pet portraits, custom jewelry, screen print T-shirts, or even services you provide on the side such as baking cakes, having the funds to get that business going is key! With the money you’ll save from buying a used car, you can put it towards your dream project. Buy the supplies you need, start advertising, and watch your vision become a reality.   

5. Put it into savings.

When you’re living paycheck to paycheck it’s nearly impossible to even imagine setting aside $10 towards your saving’s account. Setting aside money for a future vacation or to pay off debt is wise. A savings account comes in handy when an unexpected emergency happens such as a visit to the doctor’s office, issues with your car, or problems inside the home. When you’re able to put more money into savings, you’ll feel better and more secure when an unexpected expense comes around.

How will you use your extra cash?

At Express Auto Credit, we believe in helping customers get a vehicle that they can truly afford. Buying used comes with numerous benefits and saving a lot of money just so happens to be one of them! So tell us — what will you do with the money you save when you buy used?! Come see us today at 11131 Alameda Ave in Socorro, TX.

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