2007-03-13 05:41:07 · 6 answers · asked by lala0022 1 in Cars & Transportation ➔ Buying & Selling
Buy only what car you can with cash.
As far as insurance goes, depending on the value of your car, you may want to drop the part of the insurance that pays for damage to your own car - it's saves a good bit of money and it's usually not required by law.
For instance, I'm driving a 12 year old Corolla with 285,000 miles on it. It has reached the resale value of approximately "will haul off for free". Why should I pay an extra 250- 300 dollars a year insurance on something that is basically worthless?
The one place you DON'T want to skimp is liability for someone else's car. There's a lot of $50 - 75K cars out there. If your insurance doesn't cover it, their insurance company's lawyer will be in touch for the remainder.
Keep your insurance to a minimum and pay cash for the car. The money you save can be put aside to pay cash for the NEXT car!
2007-03-13 06:03:00 · answer #1 · answered by pater47 5 · 0⤊ 0⤋
you need to do alot of research or else you are going to get taken advantage of. if you do buy used plan to have 2-5 thousand saved up or maybe even more. but you get what you pay for. check out some internet buying guides before you buy anything.
2007-03-13 08:02:43 · answer #2 · answered by MiaDiva28 6 · 0⤊ 0⤋
thats correct. May I suggest that you purchase a Jeep. I have two and I love them. The first one I bought was a 93 and I still drive it (has 264, 000) miles and still going strong.
2007-03-13 05:44:11 · answer #3 · answered by workaholic 2 · 0⤊ 0⤋
If you pay cash for the vehicle,
yes that is correct.
Although, it is difficult to find a solid, reliable, used vehicle that is dirt cheap.
2007-03-13 06:23:37 · answer #4 · answered by msdagney 4 · 1⤊ 0⤋
Only if you pay for it in full. If you have to borrow money then you will have a payment.
2007-03-13 05:44:08 · answer #5 · answered by jtcampbell1 2 · 2⤊ 0⤋
up keep fuel, depreciation.. b e carefull shop around take some one with you.
2007-03-13 05:47:59 · answer #6 · answered by Grand pa 7 · 1⤊ 0⤋