FHL
Contributor

It is my goal to save x amout of cash for a down payment on a new to me Jeep.

I have a small amout and growing already saved, my question is if I reach my goal and want to keep saving should I put the money in a diffrent savings account to go to the car as payments so that I will not be diping into my checking. I want to aggresivly pay of this car with in a three year or less time period.

any sugestions or Ideas? I dont want want to get a loan for over 10 thousand. that is also part of the goal.

thank you for your time.

1 REPLY

FHL,

Thank you for your question. Sounds like you have a really good plan to start saving for a car. I am not a financial expert, so I found a few similar questions that members have asked our CERTIFIED FINANCIAL PLANNER™ in the Ask USAA section of the community:

 

https://communities.usaa.com/t5/Financial-Advice-Q-A/Should-I-invest-in-a-mutual-funds-to-save-for-a...

 

https://communities.usaa.com/t5/Financial-Advice-Q-A/Should-I-buy-car-with-cash-or-do-some-financing...

 

https://communities.usaa.com/t5/Financial-Advice-Blog/Car-Buying-Is-Cool-Worth-the-Cost/ba-p/22428

 

Hope these help!