How To Save Up For A Vehicle?

Do you want to buy a vehicle and settle comfortably by the time you finish your twenties? And the vehicle should be a really good one? Well, there is only one way around it! Unless you get lucky and become an instant millionaire you will have to earn it the hard way.

I myself had to save up for my first vehicle. It was a very difficult task. But now when I sit in my vehicle the feeling is ecstatic. So let me share with you with the tips that worked for me!

Start early

It is never too early to start saving and also never too late. So start immediately. Try to save every penny, however insignificant it may seem. You should have a separate savings account for this particular purpose and save in it. Then you will be able to assess at any given time how much you have saved and how much more you need to save. Have a piggy till at home to save up the pennies. At the end of a year or two you will be surprised to find the sum you would have thus saved. Also keep in mind to avoid wasting or spending money on anything unnecessarily at least until you reach your goal.

Know the price

Yu should always know which vehicle you want and how much you should be saving for it. Only then will you be able to calculate a daily or monthly target that you will need to achieve. If you are looking at vehicle that is quite expensive, you can check out some lease options. Then once you pay a lump sum as the down payment you will be able to lease it out in exchange for a monthly payment. This is a very famous corporate car leasing method and is no become a very popular method of people acquiring vehicle for personal uses too.

A second job

You can also take up a second job. The second job at will enable you to live the usual comfortable life with your main income whilst also providing a mode for saving up for a vehicle. You should always be mindful to not spend the earnings from the second job as well. Instead you should save it up for the vehicle. Even though there are cheapest car rental in Singaporeoptions now available, it will be great if you can buy your own vehicle. So make sure to get a reasonably paying second job and use the cash you earn from it for savings. The more you save the faster you can reach your goal!


Finally, you will need to be absolutely determined. If you are not determined on your goal then saving up the cash would be an almost impossible task for you. Only if, you set your heart to it and believe you can achieve it, will you be able to achieve it!

Writen by Jessica Reed