[{"@context":"https:\/\/schema.org\/","@type":"Article","@id":"https:\/\/moneydoneright.com\/personal-finance\/saving-and-budgeting\/how-to-save-for-a-car\/#Article","mainEntityOfPage":"https:\/\/moneydoneright.com\/personal-finance\/saving-and-budgeting\/how-to-save-for-a-car\/","headline":"How to Save For a Car","name":"How to Save For a Car","description":"Buying a car is a major financial decision, and it\u2019s important to start preparing...","datePublished":"2022-02-15","dateModified":"2024-12-27","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/how-to-save-for-a-car.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/how-to-save-for-a-car.jpg","height":460,"width":1900},"url":"https:\/\/moneydoneright.com\/personal-finance\/saving-and-budgeting\/how-to-save-for-a-car\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=s1f3PGbJ2qg#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=s1f3PGbJ2qg","name":"Shopkick Review: How I Use This Rewards App for Free Gift Cards","description":"Today I am reviewing and walking you through the Shopkick app, which you can use to earn gift cards at places like Amazon, Target, Walmart, and more. Keep watching to find out exactly how the app works, the pros and cons of the app, and if you should consider downloading this app!\n\n\u27a1\ufe0f Use Promo Code LOGAN to earn a $5 bonus (1,250 kicks) when you earn at least 10 kicks within the first 7 days of downloading the app!  Download Shopkick here: https:\/\/shopkick.com\/\n\nOther Videos Mentioned In This Video:\n\u27a1\ufe0f BeFrugal Review and Walkthrough: https:\/\/youtu.be\/wiOOCtkolDo\n\u27a1\ufe0f Citi Double Cash Review: https:\/\/youtu.be\/nSi1kdU5o3I\n\nPrograms (Use Coupon Code YOUTUBE for 50% Off!)\n\ud83c\udf93 The Money Course (Paid): https:\/\/www.loganeducation.com\/offers\/FUmjEuPB\/checkout\n\nFree Download:\n\ud83d\udcb8 75 Ways to Save an Extra $100 This Month: https:\/\/moneydoneright.com\/wp-content\/uploads\/75-Ideas-to-Put-an-Extra-100-in-Your-Pocket-Every-Month.pdf\n\ud83e\udd11 15 Referral Programs That Make Me Over $20,000 a Month: https:\/\/www.loganeducation.com\/15-referral-programs\n\nTable of Contents:\n0:00 Shopkick Review\n1:15 Installing The App & Location Settings\n2:00 Create Your Account\n2:45 Promo Code LOGAN\n3:05 How Much Are \"Kicks\" Worth?\n4:00 5 Ways To Earn Kicks\n6:35 Walking Through The App - Nearby Tab\n7:10 Shopping Online Through ShopKick\n8:00 Discover Tab\n8:30 Shopkick Options\n8:45 E-Receipts\n9:55 Account Settings\n10:00 Linking Cards\n10:20 My Saves\n10:30 Invite Friends & Promo Codes\n11:00 Questions & Support\n11:15 Going To Wal-Mart\n12:10 Arriving At Wal-Mart & Receiving Walk-In Kicks!\n14:10 Scanning My First Items\n15:25 Scanning Items I'm Going To Buy\n16:45 Purchasing My Items\n17:20 Scanning My Receipt\n18:45 Receiving Kicks For Purchasing Items\n19:15 Redeeming Shopkick Kicks\n20:00 Breaking Down Kicks Value For Different Rewards\n21:15 Redeeming $100 Amazon Card\n21:30 Shopkick Pros\n22:25 Shopkick Cons\n23:35 Should You Download Shopkick? \n\nI may be compensated if you use the links above.\n\n#shopkick #cashback #rewards","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/s1f3PGbJ2qg\/default.jpg","https:\/\/i.ytimg.com\/vi\/s1f3PGbJ2qg\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/s1f3PGbJ2qg\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/s1f3PGbJ2qg\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/s1f3PGbJ2qg\/maxresdefault.jpg"],"uploadDate":"2021-04-29T16:30:24+00:00","duration":"PT24M40S","embedUrl":"https:\/\/www.youtube.com\/embed\/s1f3PGbJ2qg","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA#Organization","url":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA","name":"Logan Allec","description":"Logan Allec is a CPA and the founder of Choice Tax Relief, which specializes in helping people with their IRS and state tax debt.","logo":{"url":"https:\/\/yt3.ggpht.com\/43_VKqrbO06RGMcxfdQbDXosrkVRq1yf5QgSQEiR4ILUGWV9fJtTh0o2ftYMYqVo6PwnEOPRdg=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=s1f3PGbJ2qg#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=s1f3PGbJ2qg#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=s1f3PGbJ2qg&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=s1f3PGbJ2qg#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":12081}],{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=s1f3PGbJ2qg#VideoObject_interactionStatistic_LikeAction","interactionType":{"@type":"LikeAction"},"userInteractionCount":370}]},"about":["Saving Money"],"wordCount":1106,"articleBody":"Buying a car is a major financial decision, and it\u2019s important to start preparing well in advance.Unless you already have thousands (or tens of thousands) of dollars in disposable funds, you\u2019ll need to save up gradually in order to make a down payment.Keep in mind that every dollar you save in advance will be a dollar you don\u2019t have to take out in credit.While every situation is different, these eight steps should put you on the path toward efficiently saving for a car. Remember that making small, gradual changes tends to be more reliable than trying to optimize your entire approach to personal finance all at once.Table of ContentsToggle1. Identify Your Budget2. Set a Timeline3. Use Shopkick4. Get a Cash-Back Credit Card5. Cancel Unwanted Subscriptions6. Negotiate Lower Costs on Existing Bills7. Bundle Services into One Payment8. Stay Committed to These Changes1. Identify Your BudgetFirst, you\u2019ll need to determine how much money you want to spend on your next vehicle.This will give you something concrete to work toward and help you get an idea of how long it will take you to reach your goal.Of course, you don\u2019t necessarily need to save up the entire sticker price in order to buy a car.How much you want to save for a down payment is ultimately up to you. With that being said, a smaller down payment isn\u2019t always a good thing.Higher down payments involve less risk for the dealer and therefore enable buyers to qualify for lower interest rates.Even if you pay less (or nothing at all) on the day you buy the car, you could end up spending hundreds or thousands more than the purchase price over the term of the loan.After making your down payment, you will have to continue making monthly payments toward your loan until you\u2019ve paid off the entire balance.Along with the down payment, how much money you can put toward those payments each month will put an upper limit on your budget.2. Set a TimelineOnce you know how much you need to save, you can start to think about when you might achieve that goal.If you need an extra $3,000, for example, you might try to save $250 per month and make the down payment after one year.It\u2019s important to be realistic when setting savings goals in order to give yourself something you can reasonably accomplish.3. Use ShopkickShopkick is a powerful cash-back platform that enables users to earn rewards while shopping online and in physical stores.There are also a handful of other ways to generate \u201ckicks,\u201d or points, including scanning the barcodes of specific products and walking into participating stores.Using Shopkick while making other changes to your budget will help you reach your savings goal as quickly as possible.In my Shopkick review, you\u2019ll learn everything you need to know about how Shopkick works and how it can help you save money.If you think Shopkick makes sense for you, use our referral code to get a $5 bonus using the invite code LOGAN. You\u2019ll get the bonus if you create an account and make an in-store scan within seven days of signing up.4. Get a Cash-Back Credit CardAlong with rewards platforms like Shopkick, cash-back credit cards are another way to generate more money for your car purchase.A rewards credit card will enable you to earn cash on your everyday purchases, and you\u2019ll often be able to earn those rewards at the same time that you take advantage of offers from Shopkick.For example, the Citi Double Cash card offers a flat 2% back on all purchases, with no bonuses or additional rewards for any specific categories.If you spend an average of $1,500 each month on purchases that you can make with a credit card, you\u2019ll get $30 back per month simply by using a Citi Double Cash card.5. Cancel Unwanted SubscriptionsFor most Americans, monthly bills and subscription charges are a major part of their budget.While these costs aren\u2019t always avoidable, you may be able to reduce your spending by canceling the subscriptions you no longer need and negotiating the monthly bills you can\u2019t avoid.If you think you might be wasting money on monthly subscriptions, just go through your recent bank and credit card statements and make a note of each subscription you\u2019re paying for.Most digital services are billed monthly, so they should show up on every single statement.From there, take a few minutes to cancel any subscriptions you\u2019re no longer interested in.Providers will continue to bill you automatically even if you don\u2019t use their services, so it\u2019s easy to forget how much you\u2019re really spending on these plans.6. Negotiate Lower Costs on Existing BillsBill negotiation is another straightforward, low-stress way to save money.Most people think these costs are unavoidable, but service providers are often willing to negotiate with customers in order to keep them satisfied and avoid losing their business.If you\u2019re confident in your negotiation skills, you can simply contact your providers on your own and make your best pitch for a lower rate.However, there are also a number of businesses that offer this service for either a flat rate or a cut of the ensuing savings.Billshark is a popular money-saving platform that offers both bill negotiation and subscription canceling.They\u2019ll negotiate with your providers for you and take a 40% cut of all savings for up to 24 months.With that payment structure, you won\u2019t have to pay at all unless they\u2019re able to save you money.7. Bundle Services into One PaymentYou may also be able to save by bundling plans instead of paying for them separately. Hulu, Disney+, and ESPN+, for example, are available in a bundle for one monthly payment of $13.99.If you want access to all three, you should consolidate your accounts as soon as possible in order to minimize your expenses.Similarly, other providers often bundle different services into one package.For example, you might be able to save money by combining your internet and TV subscriptions, or by getting a bundle with both home and auto insurance instead of paying for each one separately.8. Stay Committed to These ChangesSaving up for a car can feel like an unattainable goal, but you can get there by making a few simple changes and staying committed over time.These eight tips will help you optimize your budget and reach your savings target as quickly and painlessly as possible."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Personal Finance","item":"https:\/\/moneydoneright.com\/personal-finance\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Saving And Budgeting","item":"https:\/\/moneydoneright.com\/personal-finance\/\/saving-and-budgeting\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"How to Save For a Car","item":"https:\/\/moneydoneright.com\/personal-finance\/saving-and-budgeting\/how-to-save-for-a-car\/#breadcrumbitem"}]}]