4 Positive Financial Secrets of Purchasing an Eco-Friendly Vehicle
There are many hidden positives to buying an Eco-friendly vehicle. Many of which are reflected in their built-in features. Focusing on these features may change the way you approach shopping for an environmentally friendly vehicle. Better yet, your choice of vehicle may change your life in more ways than you realize. The next car you own could end up being a 10-15 yr investment with life-altering positive impacts on your finances. There is more than meets the eye with buying a new car.
Most people believe that investing in a vehicle is all expense and no profit aside from transportation. While vehicles provide the common comforts, designs, and leisures that initially draw us in, other features will preserve your long-term income. Consider the positive impacts an eco-friendly car has on your future finances. Here are a few of the many hidden facts and benefits they don’t want you to know about eco-friendly vehicle savings.
“Eco-Friendly” Doesn’t Mean Buy Electric
This is a nicer way of saying the most cost-friendly option is most likely not a hybrid or electric-powered vehicle. It’s important when considering an investment like a new car, to assume electric-based cars are not going to save you much money in the long run. While hybrid vehicles are gas-efficient, they also come with a higher electricity cost. There’s an innumerable selection of more cost-efficient options than just hybrid and electric vehicles. Don’t fall for the first car that falls under the term “eco-friendly”. What may be considered eco-friendly may not necessarily be cost-friendly.
People tend to automatically think of electric cars when ‘eco-friendly’ is mentioned. However, the term eco-friendly refers to any built-in fuel, emission, and electronic conservatory-based vehicles; not just electric cars. The mainstream push that electric-powered vehicles are the best long-term financial and conservatory investment is extremely misleading. Don’t fall for the public eco-friendly push that your next car must be a hybrid to be considered eco-friendly.
Yearly Fuel Savings
Relevant sources estimate an eco-friendly vehicle can have a monthly savings upside of around 1 thousand dollars as opposed to traditional options. Those potential savings are based on just gas savings alone. While that may not seem like much, additional 11-12k annual savings can single-handedly pay for numerous family leisures. What yearly vacation would you take with that much savings? With the right eco-friendly vehicle, the choice can be yours. Once you go eco, you’ll find it difficult to change considering the enticing savings associated with a cost and eco-efficient car.
There Are Affordable Options
Among the best-kept secrets are the financing options available beyond your immediate salary. These options at your disposal make buying a vehicle cheap and affordable. Especially for active students, the right loan can make the downpayment of a vehicle easily affordable in monthly installments. A single financing application could open the door to endless possibilities.
Unfortunately, most people operate under the false pretense that a new car means breaking the bank. On the contrary, financing options can not only make purchasing a vehicle easy, they can add money to your pocket. Another often taught falsehood is you must meet a certain financial standard or income to afford a new car. This is another misleading tale that keeps people from even pursuing the thought of buying a new vehicle.
It Could Boost Your Credit Score
Beyond being an affordable option, monthly payments provide a significant opportunity in boosting your credit score. Whether you’re making payments on a car or personal loan, meeting those payments on time will boost your score immensely. With the convenience of monthly payment plans, your credit score can go from good to great after just a few easy payments.
The Deciding Factor
Wasting your money on a gas-guzzling, emission-wasting vehicle will end up costing you much more than the sale price. Worse yet, the tolls of high-emission vehicles on motor longevity could cost you a new vehicle sooner than you’d hoped. Low emission and a gas-efficient vehicle is your key to minimize expenses and a positive financial outlook. The key to unlocking an affordable vehicle and future is in your hands. Only you can take that key and walk through the door of a car that brings about these financial securities.