There comes a time in every car owner’s life when they decide it’s time for an upgrade. During your search however, you find that the new car you want to buy is a little out of your price range. Rather than looking for a different car to buy, there might be a way that you can afford the car you really want. All it takes is a little bit of work and time, and you could find that the new car you’ve had your eye on is actually within reach. Here’s how to do it:

Work on Your Savings

The first thing you’ll want to do is start working on your savings. The more you have saved up, the easier it is to afford a new car when the time comes. By placing down a larger initial payment at the time of the sale, you can lower your monthly payments, and make affording the car easier as you go forward. Open up a separate savings account, and when you have some extra money, place it in. After a few months of this, you should have a decent amount in there, making a new car purchase easier.

Start Cutting Costs

If you really want to increase your savings, you’ll have to focus on cutting costs. Look at your monthly budget, and try to find some areas where you can trim the fat. Maybe you don’t need to buy lunch every day at work, but instead bring your lunch from home. Or maybe instead of driving to work every day, you could start up a carpool with other employees in your area. Even if you only save a few dollars here and there, it all adds up over time, and brings you one step closer to a new car.

Look for Extra Ways to Make Money

The other big way to improve your savings, and to more easily afford the monthly payments, is to bring in some extra money. Many of us are busy with full-time jobs, but there are still ways you could earn some extra money on the side. A part-time job on the weekend is one option, having a yard sale is another, or even finding some freelance work with one of your skills. Here’s a great list of some extra ways to earn cash to get you started. Again, you don’t need to bring in a lot of money in order for this to make a difference – every little bit helps.

Improve Your Credit Ratings

Credit ratings play a large role when it comes to monthly car payments. If you have a bad credit rating, you will find that you get a higher interest rate, or even denied the lease you’re after. Improving your credit score should therefore be a priority, but this takes time. Start paying off your other debts, and work on making your payments on time. Here is a list of the factors that go into your credit rating – use it to help determine why yours is low, and how to fix it.

Get a Good Value for Your Old Car

Since you’re upgrading to a new car, you likely won’t need your current car any longer. This is good, because you can use the value of it to help afford your new car, no matter what sort of condition it is in. When shopping for a new car, talk to the dealer about the trade-in worth for your current car. If it seems like an acceptable amount, go with that option. If not, consider selling the car on your own, or if your car is in bad shape, look at scrap car prices.

Learn to Haggle

Haggling is a big part of buying a new car. It’s the car dealers responsibility to sell you a new car for as much as they can. However, there is typically some wiggle room, and with a little bit of knowledge, persistence, and luck, you could get a much better deal. Here are some additional tips on haggling for a new car that will hopefully help you out the next time you’re at a dealership.

Be Willing to Settle

Finally, after all of this, you still might not be able to afford that car you want. If this happens, it might be time to settle for something less. First look to see if there is a way to make that specific car model cheaper, perhaps by buying it used or removing some of the features. If not, start looking around for cars that are similar to what you want, but with a cheaper price tag.

Sometimes no matter what you do, that car you want will remain out of reach. But if you try the tactics above, you should find yourself a little closer to your goal, and hopefully that will be enough. Just remember that making a new car more affordable takes time and patience, but is well worth it in the end.