How to buy a car for free

Buy the asset first

Driving license in Austria is usually acquired at the age of 18. An exciting event. The first time being on the road alone. Why not buy a car right away? Well, without money it is difficult. And that problem was solved by the banking and marketing industry. It is called leasing.

“You don’t have the money needed for a new car? No problem. We do not care about your assets. We give you credit”. That is the theme of the leasing industry. Lease once, and regret it for a lifetime. A car is taking out between 300 and 1,000 $ from your bank account — per month. Leasing rates, gasoline, insurance, and repairs are a constant cash outflow. If you can’t build a business around a purchased car — it is a massive liability in everybody’s budget.

And yet it provides mobility. It is getting out of the city. Flexibility. A feeling of personal freedom. It is showing the kids more of the world than the small neighborhood. For some people driving a car adds emotional value. There is always a good reason to buy and own one. Is it possible to get a car for free?

Savings first