Skip to main content

Buying a New Car

Thankfully, I have been debt free except for mortgage for over a year, and without a personal car payment on my own car for more than two years. My car is approaching 200,000 miles and knowing deciding what kind of car to buy has consumed a lot of time for me and I find myself wondering what the best kind of car is to get when the time comes.

Budgeting the money for a new car is a major motivation for this. And in order to know how much to budget, I have to consider what kind of car I will purchase which is the subject of this post. In terms of changes since I last bought a car, I now have a pug. As a result, there is more fur than you can shake a stick at and I am considering a car with a hatchback/cargo area for the dog where he could be safe and comfortable as opposed to being stuck with having a bulky crate in the back seat.

Other than that, I know that I want to maintain with either a small or mid-size car, but nothing larger (although truth-be-told, I'd love to have one) but I just refuse to spend the additional cash on it at this point. My results for consideration also have gas mileage in mind since I have about 20 miles of commuting each way.

For consideration, I am looking at:
Toyota Matrix
Honda Fit
Nissan Rogue
Toyota Prius
Toyota Corolla

The difficulty with such a range is that the price points for the more expensive cars like the prius can be anywhere from 8-10K more than the less expensive cars in my list. One thing is almost certain for me though--I will almost certainly buy new. As someone who has seen that people have a used cars (and had been driven around in used cars growing up), I never cared for the feeling that transportation is questionable. For my purposes, I want it to be reliable without worry. Finance Fox buys only new used cars, but I have found that the idea of having a new car that is reliable, that I hold for the full payment term, payoff early, and then drive for an additional 2+ years can also work out quite well.



Comments

Popular posts from this blog

Do Better With Your Time

Recently, I've been extremely busy with some work commitments. The interesting thing for me is that this increased work activity has really helped crystallize some of my feelings with regard to time. And these ideas are a critical part about my view on personal finance. I'm curious to know if others feel similarly. Time is money. That is, Time, in some way, contains energy. Money, is also energy. In the act of working, I am able to compound and increase the amount of money that I have. I am exchanging my time and effort and thought which are components of my work, for the productivity that I produce. And this production gets me money from my employer. However, the first dollars that I make each day, week, or month are the most valuable. Then the ones that I make at the end are the most valuable. (Forget about taxes for a minute.) The reason is, the first ones help me have a place to live and food to eat. And the last ones are the ones that I can use to really improve my life lo...

On Buying a Lifestyle...with a Fixed-Rate Mortgage

Despite all of the back and forth about sub-prime mortgages and the housing bubble, I am feeling just fine. The reason is that when purchasing, I followed some old advice: Don't expect to flip. In general, I've been told by many people that you shouldn't buy a home unless you plan to hold on to it for 7 years or longer. If the market does well and you decide to sell, fine. But if you want to be sure not to lose money, don't buy something that you only want for a year or two. I've been in my current location for more than 3 years. I like it. And I have no intention of leaving in the short or medium term. It seems to me, that real estate, like any asset class, has its ups and downs. But as a practical point, I don't look at my home as an asset per se. Rather, I consider it to be a fixed expense that I need to survive, much like food and water. Therefore, as long as the payment is reasonable and it functions to keep me warm and sheltered and comfortable, that is a...

Awkward Family Money Situations

I was about to write this as a comment, but its quite long and brings up a ton of issues so here goes. First, check out  <a href=" http://hereverycentcounts.blogspot.com/2007/06/money-and-etiquette-why-are-important.html ">this story at here every cent counts</a>. Now on to my response. I am just mortified by this story. I cannot even imagine that people with kids would expect someone in college to pay for their own dinner. I'm assuming that this is an aunt/uncle/great aunt/great uncle situation and that you are a young college student in late teens, early twenties with no full time job. All of my answers below are based on those assumptions. If that is the case, they should *splurge* the 20 bucks for dinner. They are an adult here and as much as I believe that you should be independent, while you are in college and struggling for money, you should be treated on an occasion like this. Big Question: How do your mom and/or dad and/or other immediate family ...