It’s time to put your freedom on a pedestal. Cars have long been associated as a symbol of independence. It’s the first step to buying, riding and building your own asset holding. You may have travelled in your parent’s car, but nothing compares to the feeling of saving and purchasing your own dream ride. 

With Elon Musk’s Tesla paving it’s way to India, owning your dream car just became a priority. Even if you’re not into an electric car and want to own your first vehicle, the freedom is yours to mobilize. 

Follow these simple steps and you’ll be on your way to ride in your dream car, in no time. 

1. Where is your money parked?

Learning how to drive is important and so is the need to know how to park your car. Finances ride the same way. Start off with taking a stock of your financial inventory. How much money can you afford to allocate towards the new car? Can you fuel your dream with your current savings and earning?

2.             Budget The Buy

Knowing what you can afford and sticking to your budget is key to ensuring a debt-free journey. Before you set out for a road trip, you never fail to finalize your destination, route and itinerary. Follow the same rules for your car purchase. Shortlist your favorites, plan a payment route with your financial expert and an actionable pathway to ensure your road trip is all fun minus the bumps.

3.             Save, Invest, Repeat

If you wish to get the maximum mileage out of your investments, you need to save wisely, invest smartly and repeat the cycle. But that’s a saying of common sense, isn’t it? Well, it is. But most people find it difficult to follow the route. In excitement, need for gratification or sheer passion take a detour on their budget to power their preferences. Best practice would be to accelerate your income, put an impermeant break on unwanted expenses and gear your investments in instruments that drive you closer to your goal. 

4.             Distance yourself from debt

Don’t be lured by the easy installment loan ads. Remember, tomorrow is unpredictable. If your finances are in reverse mode, you cannot steer ahead, can you? There are multiple ways to plan and ride in your dream car without getting into the debt trap. Reach out to your financial planner to discover which one works best for you. 

5.             Travel the Good Road 

Imagine yourself on your way, enjoying a road trip on a long weekend. The car you’ve just purchased, on your own merit. There’s loud music, your favorite genre, you are in the company of friends or family. That feeling is so empowering even in thought. Don’t shush that thought as just another dream. You can make it happen and travel the good road.

Trust an expert to give your dreams root and wings. Reach out to our qualified financial planner to help you make the right turns towards your destination of saving and purchasing your dream car.