Purchasing a vehicle is a big decision and a financial commitment that can last for many years. Careful thought and consideration must be given to purchasing and owning a vehicle, as well as exploring alternatives to ownership.
Time working to pay a vehicle will take time from other pursuits including if you have studies. Be realistic about your time constraints.
- Do you need transportation to get to work, school or activities?
- If you live near a city centre, and the public transit is good, you may find owning a vehicle and its costs (parking etc) limiting.
- Car-sharing programs, or vehicle rental may be a better option than the ownership and costs of a vehicle
- A vehicle that is not in use still costs money in depreciation and insurance