I'm about turn 16, need thoughts for a good car, cheap one? And how to afford? - 1
I'm turning 16 in June. As soon as I turn 16, I'm going after my permit. But I need help on how to afford one too. I got a job offer in the summer for $18hr. I know that there's much more to learn about that, so where do I go for all of that info? Tips and sources appreciated.
Added (1). My thoughts are on a chevy, toyota, maybe honda.
Don't get one until you know what insurance will cost. At your age, insurance can cost more than the car. A "cheap" car might actually cost more, because of the insurance. You can save money by getting a car that is more expensive, but has cheaper insurance.
A more expensive car usually equals more expensive insurance. That's the general rule, and there are a few exceptions. That's why it's only a general rule.
At your age, the age and value of the vehicle will be a minor factor. You'll be sixteen, male and a brand-new driver, which scares the living snot out of insurance companies. New drivers crash five times more than experienced drivers, and teenage guys crash more than blind people and kamikaze pilots combined. I might be exaggerating a little, but only a little. And every insurance company in the world knows the statistics. No kidding, insurance companies would rather insure blind people than teenage guys.
Before you buy anything, find out how much it will cost to insure. There's no use in buying a car if you're just going to park it for two years until you can afford the insurance, and forget about cleverly rearranging the technical details to get a lower price. Insurance companies don't call that cleverly rearranging the details, they just call it lying and void the contract when the truth comes out. And remember, insurance companies never ask questions they can't find the real answers to.
For your first car, look for an older, run of the mill, 4 cylinder, sedan.
Save up so you have enough money to pay for the car in cash and also save enough to be able to pay for 6 months insurance in advance. At your (too) young age, DO NOT finance a car, DO NOT pay for insurance monthly. That is always more expensive and is for "losers" who should not have a car if they can't even afford to pay for it up front along with 6 months insurance in advance.
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