Is It a Good Idea to Buy a Used Car with Your Second Stimulus Check?
Congress passed the CARES Act back in March 2020 to help American citizens affected by the economic crisis brought about by the COVID-19 pandemic. Under the act, the US Treasury paid affected citizens a check of $1,200 as the first stimulus money to assist them to bring their lives back on track. Recently, the Treasury again announced that a second stimulus check worth $600 is on its way to help American citizens further and with the economy all opened up, it can be a boon for many out there.
Now, if you have decided to use the $600 or even $500 as a down payment to buy a used car, it is a good idea. If you still do not know how to spend the money, we suggest that you take the used car route. Here, we explore the reasons as to why buying a used car with the second stimulus check is beneficial both in the short and long term and give you a clearer picture about the thought forming in your mind. Let’s get started.
Things you need to know about the second stimulus check
1. Every eligible American adult will receive the second stimulus check individually.
2. Marital status will not matter. Both partners in a marriage will receive $600 each.
3. A dependent child is also eligible to receive the second stimulus check.
4. The second $600 will be on top of the first stimulus’s $1,200.
So, given your current living situation, you are either eligible to receive $600 as a single adult or $1,200 or more as a married family without or with children. Either way, you can keep a part of the second stimulus check to take care of your immediate financial needs and invest the rest in a used car.
Why buy a used car with the second stimulus check?
Given the current pandemic scenario, driving around in your personal car is way safer both for you and your family. The chances of COVID-19 infection drastically increases when you use public transport, a medium that sees a large number of people every day coming from different corners of the state. However, your car will have a limited number of users. You can also sanitize regularly as per your liking. The virus isn’t likely to go away anytime soon and a family used car can help to keep the safety shields up.
From another angle, you can effectively take care of any family emergency with a car at hand. Remember, our hospital infrastructure is already overwhelmed and ambulances are becoming hard to come by at short notice. People are even having to travel farther than their usual pharmacy stores to fetch the drugs they need. With a used car, these situations can become simple. Without paying a fortune, your family can own a ride that can save lives.
Plus, you can also cut down on your daily travel time, drive your kids to school safely, increase productivity at work by saving energy spent on commute, restart your business, pursue a side gig, or work overtime. All these become possible when you own a car. These factors naturally make buying a used car with the second stimulus check a great idea.
Pick the right dealership
Although $600 is no small amount, not all used car dealerships can get you a quality used vehicle for that amount. But the story is different at Family Auto of Easley where the inventory is large enough to find you a quality used car that can easily fit your $600 down budget. You also get a 2-years/36,000 miles warranty on any can you choose. And you can finance the vehicle with our buy here pay here no credit check auto loans where your bad credit score is not a problem at Family Auto. In fact, we specialize in the bad credit financing.So, take the smart decision, go ahead with buying a used car, and put the second stimulus check to the best possible use.
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