Money saving tips to shrink that car loan

640 × 384
Are you planning a new car purchase soon? Want to put down larger down payment so you don’t have to borrow so much? Looking for some painless ways to save money for that down car loan without having to change your life? This article is going share some money saving tips to help maximize your down payment and reduce your overall car loan. All without impacting daily life.
Make your own coffee
Simply making your own coffee each day could save you a lot of cash over the space of a year. At $3-5 per coffee, even if you stopped buying one per day you could save $1,825 a year (@$5 per coffee). If you drink more, you save more. Make your own, buy an insulated cup and you still get your caffeine hit.
Make your own lunch
You can take self-sufficiency one step further by making your own lunch. Rather than spending $7-$10 on a sandwich, make your own. Don’t buy a salad, make your own. As well as saving money, you will likely also be saving calories as even the most basic sandwich can be fattening. At $7 per day over a year, you could save up to $2,555. That does include weekends, but you get the idea. Taking $2,500 off a car loan could make a real impact on your monthly payment.
Cut the cord
Cable TV is expensive and not always necessary. You could save in excess of $100 a month by cancelling your cable TV and using one of the many streaming services instead. Try Netflix, Hulu, Amazon Prime Video or one of the others to still get your TV hit without such a high cost. Use over the air channels for local programming. Streaming costs money, but $10 or so instead of $100.
Renegotiate utilities
If you live in a town or city and have the luxury of being able to negotiate your utility bills or switch provider altogether, that can save big too. Switching could save a couple of hundred dollars per year and it’s well worth doing. You can do the same for broadband, your cell phone and every other regular outgoing too. That way you pay less but receive exactly the same service. That’s even more you can save off a car loan.
Save automatically
Setting up a standing order to take a fixed amount out of your checking account whenever you get paid is a simple way to save. If the money isn’t available to spend, you cannot spend it. Setting this up to take the money the day after payday is best.
Get cashback
There are cashback credit cards, coupon websites, Groupon and others that can help you save money while still buying the things you need. Set up a special email account so you don’t get spammed into submission and use all the coupons and discounts you can.
Categories: News
Tags: car loan