Buying A Car Part 1

It’s April! Graduation is six week away and this month is going to be crazy! Between finishing up graduate school, finding a job, getting a car, and moving, I am not sure how I am going to survive. This blog is the only thing keeping me sane! Let’s just say I cannot wait to graduate.The time to start researching for a car has come.

I initially thought I wanted to spend no more than $12,000 on my first car, but I am not sure if that is going to be enough. I am willing to stretch the budget to $15,000. Although that will require a bigger loan. I currently have $10K saved up. I want a small affordable car with great gas mileage and low total miles. Four door car is a must! I am planning to keep this baby for years!

I have been looking at US News Rankings of Best Affordable Cars. This is the new 2012 list, but I am looking at previous models of the ranked cars since I am buying used. My husband, currently, has a Mitsubishi Lancer (paid about 13K). I like the car, although, the engine is noisy and it shakes when it gets on the highway. All in all I would not mind getting another one. Some people have told me to look at the Honda Civic, Hyundai Accent, or Hyundai Elentra.

Things I am looking for in my car:

  • Great Gas Mileage
  • Best Price
  • Drives Well
  • Low Monthly Insurance Rate

I am not much of a car girl. I don’t care how pretty the interior is or if it can hit high speeds on the highway. I don’t drive over 70 mph, anyways. I honestly just want the best fuel economy for my buck. Oh, and I don’t want a super tiny car, unless it is a mini cooper ;P

I need to narrow down the list to three cars. Any preferences, comments, advice?

SavvyFinancialLatina

6 responses to “Buying A Car Part 1

  1. I just bought my first car a little over a month ago. I got a 2012 Kia Rio and I looooooove it! It gets incredible gas mileage. I consistently get more than 500 km to a tank, which costs me about $40 to fill. (I’m not sure how that translates to miles or the cost of gas in the States. I just know that it gets awesome fuel economy!)

    It’s literally the same as the Hyundai Accent (Kia is owned by Hyundai), except it has a few more fun features, like heated seats, better stereo, better warranty, etc, for the same price. When I was car shopping, it came down to those two, but the Kia won out. Also, the Honda Fit was a nice little car, too, and a bit cheaper than the Civic.

    Good luck!

    • Hi! I paid just shy of $21,000 for it all in (including taxes, freight, fees, plates, etc.). I put about $7,000 down on it and financed the rest. (I actually financed it over seven years, which I would normally consider to be insane, but I knew I was going to be going to grad school soon, so I wanted to keep my payments down. Hoping to still pay it off within three years.) I got the “boiler plate model,” which is basically the cheapest automatic model that also comes with air conditioning. (All the goodies I mentioned come standard with this model.)

      I also really need to say that it makes me so sad how much more expensive cars are in Canada vs the States. More cars are even manufactured here than in the States. Heck, the Ford plant is only a few blocks from my house! Haha. Ahh, so it goes.

      If you’re more interested, I actually did a whole series on my blog about the process of buying a car. You can check it out here: http://www.broketo.ca/search/label/leo%20the%20rio Otherwise, I’d be happy to answer any specific questions. I feel like a mini expert now!

  2. Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  3. Pingback: I bought a car! | SavvyFinancialLatina·

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s