Being granted a driver’s license is a milestone in every young adult’s lifetime. The freedom to operate a motor vehicle is the first half of attaining mobile independence, and having a set of wheels at his or her disposal is the second half. Sarasota Car Sales details four ways that teens can save money to buy a car.
Start Saving Money as Soon as Possible
It is said that the early bird gets the worm. In this case, the teens who start saving money as soon as possible get their vehicles earlier than their peers who fail to do so. By safeguarding money that is given to you on special occasions and/or from after-school and weekend jobs, the amount you accumulate over time will bring you that much closer to buying your very own car.
Create and Stick with a Goal
Desirable results are much easier to attain if you have a set goal. When in the market for your first automobile, do your homework to determine the kind of vehicle you wish to purchase and all the expenses involved including the price range of the car, taxes, licensing, registration fees, and insurance premiums. Routine gas and maintenance costs should be figured in as well.
Establish a Savings Account
Research banks and go with one that offers a no-fee, FDIC-insured savings account that can be set up with a parent’s assistance. The smart choice is to establish a high-yield savings account that provides an annual percentage yield (APY) that is higher than the national average. As you deposit money, your account will earn interest over time, automatically increasing its dollar amount while remaining accessible for your use.
Get creative with ways to earn money. Besides cash gifts that you receive throughout the year and a steady part-time job, you can look for other profitable opportunities to carry you closer to your ultimate financial aim. Babysitting children, dog-walking/sitting, doing yard work for neighbors, or even doing extra chores in your own home can prove successful in watching your car fund grow in leaps and bounds.
Sarasota Car Sales is the perfect dealership for teens to visit to find exceptional pre-owned vehicles at reasonable prices. We makes and models to fulfill every young driver’s needs and specifications. You can visit us at 7150 S Tamiami Trail in Sarasota and call us at 941-925-7150. We look forward to meeting you and turning your dream of auto ownership into a very doable reality.