My New Car!!!
I purchased my first car in July of 2008. It's a 1999 Saturn with a bunch of cool little features in it. I wanted a Saturn mainly for the good gas milieage it gets. It averages 34-38 mpg all over the place. I wanted a four-door car as well so insurance wouldn't be as expensive and so I'd have a little more room to haul stuff to and from college. I like to say this is my credit-building purchase. I pulled out a loan for the first time for kicks to pay for the car. I had no idea how good my credit was or how much I could get on my own from the bank without a co-signer. Ends up my credit isn't much different than my parents. I didn't have a problem at all and after getting the loan, my credit score increased 16 points! I paid off half the loan right away and now I'm just going to wait out the year for the tiny monthly payments to pay off the rest for me. I love automated payments! My bank takes out the amount every month for me, so as long as I have a job and a little money, I shouldn't ever worry about NOT making my payments on time.
Long story short, I found out I'd save a lot of money if I got on my parents insurance instead of starting up my own. True to that, I'm saving close to $900 a year just on insurance! I just had to make a quick trip to the bank with my dad and add his name to the registered owners of the vehicle and now we're all set! If this lasts for 3-5 years, I'll feel as though I got my moneys worth out of it. It had 120xxx miles on it when I bought it, has cruise control, electric windows, a sweet remote that can lock and unlock the doors, open the trunk, and honk the horn. It has a CD player and drives way smoothly (compared to my parents old red junker car falling apart).
$4000 for car
$500 for registration
$46 to fill the sucker up with gas...
