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Going Green On A Shoestring Budget

Going green saves costs in the long term. However, it doesn’t mean that it is a simple decision. Saving money tomorrow and building a better future for the planet is appealing. Yet, it comes at a cost. When you are working with a shoestring budget, every cost needs to be carefully measured and weighed. So, you might find yourself stuck between a rock and a hard place, facing an impossible decision. On the one hand, you want your next car to be a green purchase. But the environmentally-friendly purchase could have a devastating effect on your small budget.

At this point, it becomes crucial to define what going green truly means. A green vehicle is, in essence, a vehicle that has a low carbon impact on the environment. Electric cars are the most popular choice when it comes to green purchases. But when you can’t afford to buy an electric car, some alternatives can also be beneficial for the environment.

Leasing an electric car

It might seem like a strange idea if you are not familiar with the leasing process, but you can take a hire purchase contract on an electric vehicle without purchasing it. Also called a leasing agreement, the process allows you to drive the car without owning it for the duration of the lease, which varies typically between 24 and 36 months. At the end of the lease, you can decide to buy the vehicle by paying what is left of its value. Every month, you are to pay rental fees to the financing company. However, the vehicle is not paid in full at the end of the lease. Therefore, it is an affordable option for those who want to drive an electric vehicle but can’t afford it.

Considering a used vehicle

Contrary to common belief, electric cars are not the only vehicles that can be described as green. Indeed, the purchase of a used vehicle can be an eco-friendly decision. Indeed, some older models can be more fuel-efficient than modern cars. More importantly, you don’t encourage manufacturing pollution when you buy a second-hand vehicle. If cost remains an issue, you’d be pleased to know that many car dealers offer financing solutions, such as used BMW car finance plans for buyers. To ensure you keep environmental impacts as low as possible, you may want to focus on some essential factors:

  • Fuel-efficiency
  • Location of the vehicle
  • Mileage (ideally, you want the car to last for another few years, so the mileage can’t be too high)

Downsize your vehicle

If you are in the process of selling your current vehicle to finance the new one, you could save money by opting for a smaller car. The market domination of SUVs is appealing to car owners. However, SUVs are one of the leading contributors to the increase in carbon emissions in the world. Even if it isn’t an electric vehicle, a smaller car will reduce your carbon footprint significantly. As the sales of SUVs has tripled in the UK over the past decade, it will be difficult for enthusiast owners to switch to a small, urban vehicle. Yet, the switch could support positive climate gains in the long term.

In conclusion, a shoestring budget makes your quest for a green vehicle challenging, but it doesn’t mean it is impossible. Financing plans and smart decisions can dramatically decrease your carbon footprint, even if you don’t purchase an EV.