Save for a Car

Car

Being able to travel by car can help people earn more, spend less, and get better value in their housing. Cars, however, are relatively expensive to purchase and maintain. American households spend, on average, more than $8,000 dollars on car purchases and maintenance each year. Individuals can reduce this transportation expense by making wise purchasing decisions. Ask your bank or credit union if they offer car buying workshops or other services to help you with the auto purchase process.

Whether to Buy a Car

  • Consider whether alternative transport -- mass transit, cabs, car sharing, rental cars, or a leased car -- makes sense.

What Car to Buy

  • In deciding whether to purchase a new or used car, make certain to estimate the difference in total costs.

Should You Buy a New or Used Car

  • To purchase a used car, check the Kelly Blue Book price to learn what used cars in a certain condition usually sell for and comparison shop.

How to Shop Around for the Least Expensive Car Loan

  • If you need to take a loan out, learn about how much to borrow, where to get a loan, and information about rates.

How to Save for a Larger Down Payment for a Car

  • The larger your down payment, the lower your debt, interest rate, and interest owed. Learn more about the best way to save for a larger down payment.

Car Buying Resources

  • Links, downloadable materials, and videos. 

Pledge to Save

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

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Tip of the Day

  • Written by Annie Cromwell | January 11, 2014

    Save your loose change. Putting aside fifty cents a day over the course of a year will allow you to save nearly 40% of a $500 emergency fund. http://ow.ly/sj972 

Saver Stories View all »

Challenging Herself to Save

Written by Sara Cooper | April 15, 2014

It all started when Marchale Burton overheard Alabama cooperative extension colleague Isaac Chappelle, coordinator of Alabama Saves, explaining how saving just a little bit – even change – is all it takes to become a saver. “I thought about that,” Burton said, “and wanted to see if it would work.” So, she challenged herself to see how much change she could save.

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Learning to Save

Written by Katie Bryan | October 28, 2013

Kisha Barns’s financial situation was undisciplined, unrestricted, and impulsive before she came into contact with her local America Saves campaign, Charlotte Saves.

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Developing a Savings "Game Plan"

Written by Katie Bryan | October 28, 2013

Eunice Diaz, a teacher in Colorado Springs, had been noticing a pattern. Despite the fact that she and her husband were “making good money,” they were spending their entire earnings and “were still struggling at the end of the month.”

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