How do I afford a car without a car loan?
I want to get a car, but I don't want to have to take out a car loan. Any tips for affording a new car?
If you want to hop into the driver’s seat of a new (or new-to-you) car without taking out a car loan, it’s not as difficult as you might think. The easiest thing to do is to choose a car that fits your budget. Depending on your finances, you may be limited to used cars.
You might want to bring home that 2022 Audi—and a lender might try to tell you you should—but you can find a fun, high-performing vehicle for much less. Decide on a vehicle, then set a savings goal. Then, go loan-free by paying cash or paying in full at the dealership.
A few things to remember if you’re buying a used car:
- Review your state’s lemon laws
- Have the car inspected by a trusted mechanic
- Test drive the vehicle
- Ask for maintenance records
- Ask why they’re selling the car
- Get a CarFax report
Taking these precautions can help you avoid a rip-off.
If you’re looking to save money on all your car-related expenses, use Jerry to find a cheap car insurance policy. Compare dozens of competitive quotes and register for your new policy in-app.
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
How do I shop around for car insurance?
I need new car insurance and everyone says to shop around. I'm not sure what that means. How do I shop around for car insurance?
Oct 19, 2021
What is the cheapest insurance in Washington?
I just moved to Seattle and need to switch insurance carriers. What are the cheapest rates I can expect to find in Washington?
Oct 20, 2021
How can you tell if the frame on your truck is bent?
I recently got into an accident. I don't notice any damage, but now my truck is acting strange. I'm worried the frame is bent. How can I tell?
Oct 20, 2021