How buying a used car helped me
Without getting into details, my family had a pretty big loss last year. It ended up affecting everyone in different ways. I was of course emotionally devastated but it hit me pretty hard financially. I had to really cut back my hours at work and it didn’t like that was going to pick up again anytime soon. It wasn’t long until I realized that I was going to have to drastically make cuts to my household budget.
I did everything I could think of. Started shopping at the discount grocery store, cut ties with cable, downgraded my cell phone plan. I even sold some stuff that I’d been keeping in the attic. It all helped but then the next month came and the next one and it just wasn’t enough.
When I looked at my expenses, my heart broke a little bit when I saw that the biggest thing I had yet to address was my car payment. I only had a year left on the loan and was hoping to scrape through until then but it just wasn’t going to happen.
I went to a few different used car dealerships ( Which I found here: www.carcanuck.ca) and discovered that my car actually had a pretty remarkable resale value. I was pleasantly surprised! I shopped around a bit and finally sold my car to the dealer who made me the best offer. And get this: they gave me so much for my car, I even got enough to put a downpayment on another car. There are so many used cars for sale, I found one that was just what I was looking for, a used toyota. My car payment was significantly less every month and it got better fuel economy, so I’d save money there, too.
I did not think I’d ever be someone touting the value of used cars. In fact, I’d actually always been one of those people who kind of turned their nose up at the idea of one. I was a bit of a snob, I guess. But now I see how wrong I was. I love my car and making this decision changed absolutely everything for me. I made it though what was one of the hardest times in my life with my finances intact thanks to the trade in value of my old car and the quality and price of the used car I got to replace it.