Effective tips on how to prepare for the high cost of living during economic uncertainty: optimize spending, build a financial buffer and protect the value of your money.

In the capital city lived a young man named Martin. He worked in a factory for a foreign company. Martin had normal living habits and liked a simple way of life. But his world changed the moment he and his wife had a baby and lost their jobs as economic activity declined. At a time of financial uncertainty, when everything seemed to be going downhill, Martin realised that he had to do something to secure and stabilise his future as soon as possible. He decided to organize all his monthly expenses in order to build up a financial reserve that would help him get through these difficult times. He concentrated on his biggest expenses, which he began to re-evaluate.
Specifically:

Housing,
Car and Transportation,
Food,
Other.

Since Martin has a young family, he needs a car to help them function more comfortably. Martin bought the car back in 2018 for €20,000. It is now 6 years old. He bought the car on finance lease, with an interest rate of 3%. However, the car has recently started to break down frequently. As it is no longer under warranty, he has to pay for any repairs to the car out of his own pocket. He doesn't know when the next thing is going to go wrong, and this causes him a lot of stress, because he can't predict his monthly expenses. His plan for a balanced monthly budget is undermined.

He decides to buy a new car. However, he was unpleasantly surprised at how new cars have become more expensive. In the end, however, he chose a car worth €25,000. He went to the bank to get a lease on it. That's where he stumbled. Not only was he caught off guard by the 8% interest rate, but given his current commitments in the form of a high monthly mortgage payment, a wife on maternity leave and the loss of her job, he would not be able to get the lease.

However, he had an idea!

He saw an ad on the internet for a long-term car lease. With "COVID" cars increasing in value, he decided to sell his old one. It worked. And considerably more profitable than he expected. He got €12,000 for it. So he's going to try renting the car and see. The 12-month commitment and all the services included in the rental price looked interesting. What he liked most was the low monthly payment, which put his family's cash flow under control.

He noticed the PREPAYMENTservice , where he liked the fact that he could rent the car at a great price and at the same time the free money he got from selling the car, plus the de facto appreciation of 5%, by being able to prepay ½ of the rent in advance. The car was supposed to be ready within 24 hours according to the website, so he hurried and made a non-binding reservation, paid the deposit and prepayment for half of the total rent and went to pick up his new car.

His efforts gradually paid off. When the economic situation began to improve, Martin was not only one of the few who maintained financial stability, but he was also prepared for the future. The financial reserve he had built up gave him the security and freedom to make decisions about his life without worry and with flexibility.

Martin's story shows that in times of financial uncertainty, it is important to have a plan and pay attention to your finances. Cutting costs, building a financial reserve and finding the best deals can be key steps to getting through difficult times and achieving stability in life.

Our tip!

Check out the PREPAYMENTservice and choose the discounted cars on offer for your rental today.

What's included in the monthly payment

Your lease consists of monthly payments that include the following services:

Purchase and registration of the vehicle
Vehicle financing
Vehicle depreciation
Motorway vignette valid for the Slovak Republic
Compulsory insurance
Collision insurance
Factory-specified warranty acts
All-season tyre fitting and storage
Assistance services
Check-out of the vehicle at the end of the lease

With us, you can choose from a large variety of vehicles, from economy class to luxury SUVs, waiting for you in stock, no waiting! With AVIS Maxirent'sPREPAYMENT program , you can take advantage of the service with a 6 or 12 month commitment.

If you are considering renting a vehicle, please do not hesitate to contact us. We will be happy to help you with any questions you may have.
Vehicles are in stock, drive within 48 hours.

We value our clients and look forward to offering you the highest level of service.

AVIS Maxirent

How can one prepare for the high cost of living in times of economic uncertainty?