i want to buy a new car ....?

Question

im 16 lol i want to buy a acura or jetta im paying for it .. i havent really discussed this wiith my parents yet they want to give me my moms old car . you can pay a car off month by month right ? i dont know i just need someone to explain the whole buying new car thing haha help please =]

Answer 1

I'm 47 and never bought a new car. I could've done the time payment thing.... But dear, there are high-pressure sales men/women out there just waiting for the young, the nieve, the vulnerable, and the suckerst to plunk down their down payments and sign the paperwork for a car that is going to costs so much more than the sticker price you see in the car's window. Why? Because they get a commission. They act like your best friends and call themselves helping you.... But they're really out to help themselves & their employers to your money.

So! I'd like to suggest that you take you mom's old car for now. Get your driving experience....which is really important (more so than impressing friends)....Someone pointed out that you'll probably get into some accidents and it's better to be driving an old clunker than a pretty one. So true.... I must have hit our fence 20 times before I learned how to back out of the driveway w/o hitting it! But that was me....

SAVE your money for when you're of legal age to buy a vehicle. And tell your Dad to explain some of the ins and outs of car buying to you. Ask him for examples....like HIS first car purchase.... Ask around too....other relatives and friends. Maybe you can take a trip to the library and do a search there. Knowledge is power......And for a woman to have some knowledge in this field is a great thing!! Especially when it does come time to buy that car. You'll be in control and not the salesman. BTW, don't go in there alone. Take your Dad, another relative or friend. That's so you don't get bullied or pushed..... Good luck!! Happy driving....

Answer 2

To tell the truth, owning a brand new vehicle, with very few exceptions (the Acura and Volkswagen Jetta aren't among these), isn't all it's cracked up to be. The way many dealerships and automotive companies make their money is by fooling younger drivers (about 35 years old and younger) into buying on a month-by-month basis. Also, as soon as you sign the purchase papers, the vehicle's value drops immediately by over 25%. That means, for a $20,000 car like the Jetta, it's now worth less than $15,000 before you've put even 1 mile on it.

Another interesting thing to note - If you buy on a month-by-month basis, you end up paying, when all is said and done, close to 1.3 to 1.5 times what the original price of the vehicle was. For the $20,000 Jetta, you'd really be paying somewhere between $27,000 and $30,000 dollars in taxes, titles, interest, fees, and other amenities. The way the dealership does this is, each month, when you pay your money, the money doesn't go toward the $20,000 for the car, but instead toward the interest owed on the car. If there's any money left over after that, then it goes into subtracting from the $20,000. I was nearly fooled into purchasing a brand new Jeep Wrangler, until I looked into it more and found out how the payment plans really worked. I would've been paying that Jeep off for the next ten years or more. Also, if you fall behind even a little in your payments, then the payments go up, and the dealership can reposess your car. Where I live, the only way to avoid this is to pay for the car with cash or buy what's called "private party" (this is where it's just you and the previous owner, no dealerships, no credit, and, on the downside, no warranty).

Possibly the best way to go about this would be to accept the usage of your mother's previous vehicle for the time being, and save up until you have enough to purchase either a new car outright (with cash, not credit) or a well-taken-care of used vehicle. I bought my first car the very same way. My father let me use his old truck for about two years, and by then I'd saved enough money for a great slightly-used vehicle, which I still drive to this day.

Another small bonus to buying a car that is 1-2 years old is that, other than saving a lot of money, it's not old enough yet to where the car begins experiencing major problems. Always look for a well-maintained car (this is where someone you trust who's good with engines comes in play - they can check it out for any minor or major problems).

The last piece of advice I'd like to offer is this - luxury vehicles, like Acuras, tend to drop their price faster than any other car, up to a 35% loss after signing. This means that a typical Acura, about $35,000, will immediately drop to around $23,000 - $25,000. If you buy used, then this drop has already been done, and you could buy an Acura for between $20,000 and $25,000 with all the benefits of a new car except the smell (which can be replaced with your favorite air freshener instead).

If you have any more questions, please, just ask.

Answer 3

Since you're 16, like me haha :), I suggest buying a used Acura. The Jetta is a good car, but reliability is an issue with it. My uncle has an Acura Integra w/260K miles, and it still runs strong! The '94-'01 gen. Integra is an awesome car, it's very fun, gets great gas mileage, and you can modify if you want even! It's definitely going to be under $10K.

And yes, you can pay a car off month by month if you're actually planning on buying a NEW car...but work out the financial aspects of buying a car with your parents and they'll work something out for you.

Good luck! :D

Answer 4

You'll need a loan from a bank to make monthly payments. At 16, you're out of luck because 18 is when you can legally sign contracts.

Every teen wants a new car but don't know the costs involved such as insurance, gas, maintenance, etc. Just drive your mom's car and save enough so you can buy one with cash when you turn 18.

Answer 5

don't buy a new car, the odds are that you'll bang up your first car. You probably think that you're a good driver and all but, it happens! take the used car from your mom and save your money. at 16, you don't need to be taking out loans to pay off a car. be young and live it up....I had an old hoopty and loved it

Answer 6

your best bet is to not go with a new car. As soon as you drive it off the lot you will owe more than it is worth. If you want a new one try to find one about a year old with low miles so that it wont depreciate as fast. In order to get monthly payments you would have to have credit and at 16 you dont have credit. And to get low payments on a car you have to have good credit.

Answer 7

I know mom's car is not cool but think about it. It is paid for. Nothing worse than tying yourself down with a car payment and having to forgo some of the things others are doing cause you got to work to pay for it. Bad enough having to put gas in it and maintain it.

Answer 8

At 16 you're not going to be able to get a loan; you can't sign contracts until you turn 18. Take your mom's old car and build experience with it.