Budget For Repairs When Saving Up For A Used Car

Budget for Repairs When Saving Up for a Used Car

The only thing harder than saving up for a car is when your new vehicle needs repairs three months later. To stay prepared, aim to stay under budget, then save the excess for repairs.

Picture: John Lloyd/Flickr

When you get into the cheaper models of used cars, repairs become an inevitability over time. While buying a $3000 junker is obviously not as great a buying a $5000 car that's reliable, all other things being equal, you should expect that you'll need to spend some amount of money over time. To that end, try saving at least $500-$1000 of your budget for repairs, rather than pushing the limit of your budget for something that's just "nicer".

LPT: If you have 5000€ available for a used car, spend 3500€ for the car and use the rest to get it into perfect technical condition. [Reddit]


Comments

    If you have to save up for a used car you probably don't have repairs in your budget..

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