For my first car purchase my Father decided to teach me an alternative way to buy a vehicle. He was a frugal shopper who did not believe in using loans. From odd jobs I had managed to amass $500 which he assured me was enough to grab a great deal at a local auto auction in Tucson, Arizona.
Upon registration at the auction, each bidder was provided a card bearing a number. As the Auctioneer began, the bidders were required to raise their hand while holding their identifying numbered card. The auction was massive with over five hundred vehicles from which to choose.
As I watched others my age scrambling to buy trucks, I purposely chose a car that was large and ugly in order to have less bidding competition. Feeling the adrenaline pumping as the bidding began, I felt as if I had just jumped off a cliff free falling. As I held my hand high with the auctioneer’s words “going once, twice and sold” I became a car owner.
Equipped with air conditioning and electric seats, I was soon to be King of the road. Proudly I claimed my vehicle minimizing the fact that the paint had worn off and the tattered interior needed replacement. With some work and little expense it could be restored. The important thing was I owned a running vehicle without a loan payment.
Many of us own the same car for over ten years. Why pay high-end interest rates and be locked into a monthly loan payment? There are a myriad of ways to obtain transportation without requiring a loan.
1. Local police auctions
Police auctions offer mechanically sound cars and trucks. Once the bidding has been completed and payment made, you’ll drive away debt free.
2. Local newspaper and magazine ads
Cities around America have local ads in newspapers and magazines for cars and truck for sale by owner. ‘Auto trader.com’ is another quick resource on line. In many of these cases a thrifty shopper can obtain a ride for under five thousand dollars or less.
Listings posted daily with new deals for finding that next car or truck. Looking at a rural area outside of your township can sometimes shake out an even better deal.
4. ‘Yahoo Autos’
Yahoo always comes out with ways to help the consumer. The above web site can assist you in finding that one deal you might have missed in other searches. Avoiding car loans is one way to keep your financial situation under control. In these tough times if you have a car without the financial burden of a loan job loss does not mean losing your ride.