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Steps to Putting a Down Payment Together

Posted on Oct 28, 2011 by Thalia Green
Oct 28

In most cases, when you are applying for an auto loan with bad credit or an auto loan with no credit, you'll need to make a down payment. If you don't have the money in savings, it may seem like an insurmountable obstacle. However there are many ways that you can put the money together that you need to get your next car.


Sell some stuff.
You might be surprised at what people are willing to buy! The truth is just about anything can be sold, provided that you pick the right price, and the right audience. Clothes, knick-knacks, toys, kitchenware, outdoor gear, and many other items are great possibilities for making a little extra money. If you're crafty, you could also repurpose or update older items to make them more appealing for potential buyers. Get inspiration from one of the numerous crafting blogs on the web.


Cut unnecessary expenses.
There might be more "fat" in your budget than you realize! If you dine out at restaurants, frequent coffee shops, or go out to the movies, you have room to trim the budget. Think about ways that you could cut your expenses temporarily to help you grow your down payment next egg.


Take a second job.
It will mean sacrificing your free time temporarily, but you could also take a second job on the evenings or weekends. There are a number of ways you can make money from home. Google "work at home jobs blog" to find some options. It's important to note that you should never pay someone for the privilege of working for them. Anyone who says you need to pay to get work is not a legitimate offer, with the possible exception of the occasional background check fee.


Remember that you'll only need to sacrifice your time and resources temporarily, and that the end will justify the means. When you get discouraged, keep your end goal in site. Imagine how great you'll feel driving in your new or new-to-you car! 


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