How to buy a car without a loan, if you can not postpone?
You want to buy a new car, but your income does not allow you to make savings? Maybe it’s better to buy a car on credit? No, there is another, more economical way out.
Buying a car on credit – is it profitable?
According to statistics, about half of Russian families do not own a vehicle. And those who have already become a car owner, often purchased a car using borrowed funds. When a large purchase does not have enough of its own money, it seems that there is no other way out. But let’s first calculate how profitable such a deal is.
Since we will consider a family lacking free money, we’ll consider as an example not the purchase of a BMW 4 series worth 2,800,000 rubles, but the usual Russian for 450,000.
The standard parameters of a car loan among Russian banks at the moment are as follows: the rate is about 15% per annum, the term is up to 5 years, the down payment is from 10%. To buy a cheap Russian car in the cabin, you will need to accumulate about 50,000 rubles as a down payment. The remaining 400,000 can be borrowed from the bank (on this page you can familiarize yourself with the best offers on auto loans).
With a loan term of 5 years and a rate of 15% the amount of the monthly payment for a happy car owner will be 9,576 rubles. In the end, he will transfer the bank 574,588 rubles. Overpayment will be 174,588 rubles, or 43.65% of the amount borrowed. It turns out that a person will buy one car, and will almost pay for one and a half . Not the most profitable deal for him. Especially there is to take into account the constant shortage of money.
Why there is no money for large purchases?
Let us ask ourselves the question: “Why can’t we save money to buy expensive goods?” The answer, as a rule, will be: “Because we earn little”. But not everything is so simple.
A person gets more money in his life than he thinks . Let’s try to estimate at least approximately how much an average Russian in the outback can earn. Suppose he gets not the biggest salary – 30 000 rubles per month. For the year it turns out 360 000. A man can start his working career at 22 years old, and he will retire at 65. It turns out that his work experience will be 43 years. Even if his earnings do not increase, then during his working life a person will receive 15,480,000 rubles. Is it not possible to allocate 450,000 of them for the purchase of ?
Then why do not we have enough money for large purchases? Because people are not used to keeping track of their expenses and are not able to plan them .
What and how do we spend our salary?
All human expenses can be divided into short-term, medium-term and long-term. In the short-term spending includes such goods and services that a person acquires or pays every day (week, month). These include food, personal care products, utilities, transportation costs, gasoline, communications, loans, and similar expenses.
Medium-term expenses are regular payments that a person makes once a quarter or a year. This may include spending on vacation, minor repairs to apartments, cars, buying clothes, gifts for the holidays, paying taxes, insurance and so on.
And finally, long-term expenses are large purchases that a person makes every few years (or even decades). These include the purchase of apartments, villas, car.
And now let’s remember how we usually spend our salary. As a rule, money first of all leaves on the most necessary – products, a communal flat, credits and similar things. Even more often after receiving wages, people buy for themselves what they “really want.” Then the necessary clothes, materials for the planned minor repairs are acquired, other urgent expenses are made, depending on the specific situation. And already further … And then the money, as a rule, simply ends. Funds in order to postpone the purchase of a car or giving, does not remain. And this happens month after month.
How to properly manage your family budget
Why do we have enough money only for the most necessary short-term expenses? Because we close them as a matter of priority. The way out of this situation is very simple. To have enough money to buy expensive things, you need to pay each primarily set aside money for major purchases planned, and then spend the balance of the purchase of basic necessities.
Take our example of buying a loan . As we remember, the client’s monthly payment to the bank was then 9,576 rubles. And what if you do differently? To plan the purchase of a car in advance, and after receiving each salary, first of all, put this amount into a separate account. Even if in the family both spouses receive only 25-30 thousand rubles a month, then such a family budget is enough for accumulation and for necessary expenses. Only now you need to save money in the first place, and not “if it works.”
Contributing to a specially created target account of 10,000 rubles a month , the spouses will accumulate the necessary amount of 450,000 rubles in 3 years and 9 months. However, as a result of inflation in 4 years the car will cost more. But after all, money can be put on a bank deposit at interest. The resulting income will block the price increase (if not completely, then in part).
Recall also that when buying a loan overpayment for a car amounted to 174,000 rubles. This considerable amount was paid from the family budget to the bank as a reward for the funds provided. But with the right approach to budget planning and refusal of bank loans, this amount can be sent to pay for rest, purchase new clothes or other needs for which “there is always not enough money.” The resulting financial surplus is a reward for those who learn to plan their expenses.