4 Last-Minute Ideas For Coming Up With A Car Down Payment
When you plan on getting a new or used car, it's important to save money. However, it's not always possible to know when you will need a vehicle, and you may find yourself needing to finance a new or used car unexpectedly. While financing may be available for people with all credit histories, most car dealers will need at least a small down payment before they can finance the vehicle you want. Here are some money-earning ideas to help you come up with a down payment at the last minute.
Idea #1: Pawn What You No Longer Need
You may be sitting on a small goldmine with old electronics or other big ticket items that you no longer use, want, or need. Assess whether you own old jewelry, televisions, musical instruments, or other pricey items that you can pawn for instant cash that can be used for a car down payment. Getting cash for them can be as easy as walking into a pawn shop, handing over your items, and walking out with cash.
Idea #2: Try Driving for a Ride Share Service
Ride sharing services allow you to earn money just by taking people to or from work, school, or other destinations. If you still have a vehicle or can borrow one from family or friends, you can turn spare time into cash. With apps and instant payment options for a variety of services, the money can quickly add up and empower you to make the down payment for your new or used car.
Idea #3: Sell Hair or Blood Plasma
While the idea of selling parts of your body for money can seem eerie at first, you can make a fair amount of money from selling your hair, and a steady amount of money can come your way from selling your blood plasma. If you have long hair that you have treated well, you may be able to make upwards of $1,000 or more when selling your hair, and blood plasma can result in around $70 per week if you donate twice per week.
Idea #4: List Personal Items on Craigslist
Not every item is the right fit for a pawn shop, but you can sell nearly anything on Craigslist. Since this site is divided by individual cities, you can target locals, so that you don't even have to pay for shipping. You can use Craigslist to list any type of item you can imagine, from mini-refrigerators to a collection of baseball cards. That can transform your old junk into cash in your hand that you can use for your car down payment.
Finally, keep in mind that you should talk to your car dealer about working with you on the down payment. You may be able to make a smaller down payment if you can pay a little more on your car note each month, or you may be able to pay the down payment in a couple of installment payments. When you unexpectedly need a car, speak to your car dealership about how you can fit the emergency expense into your budget.