Car payments have always been financial quick in my household. It's a sinking feeling when the majority of your monthly payment is going towards interest every month. By the time we paid off a vehicle we had paid for it three times over. More people are also starting to realize that having a payment is a big financial burden. This is especially true for people who have a nagging vehicle payment along with costly repairs on a monthly basis. It can be very frustrating to be weighed down with a payment while driving a un reliable vehicle at the same time. Before you know it your in a pit. It can feel as though you're working just to pay for your car. There is a way to get out of this financial trap. However please remember that while it can be enticing to get rid of your payment quickly, making this decision takes careful planning and self discipline.

The first step is to carefully evaluate your budget. See where you can cut costs in order to set aside towards a vehicle. If you're living on one income it may even be a good idea for you or your to get a part time job, you can use the extra income to set aside every month, and save everything from this at least until you can reach your goals. It can take time to save up for a depending on how much you can realistically put away each month. This is the part that takes self discipline. Let's pretend that you have $400 per month to put in your savings account. If the vehicle you want costs about 5k then you will need to save for just over a year to get the you need. When you put into savings it's important to leave it there. Let it add up and avoid spending it unless you need it for an emergency. Pretend the isn't even there. Once you've saved up enough for the vehicle that fits the needs of your family, there are few things you should consider before buying anything. In most states the 'lemon law' only applies if you a vehicle with a warranty. I know this from first hand experience because my and I bought a 'Ford Exploder' with no warranty. The vehicle started to have issues less than 30 days after our initial purchase.