I need car saving advice help!!!?

Question

Hey guys Im 25 without a car. Im trying to save up for it but have no clue how to begin. How much do I put down? I really want a car but need some expert advice on how much to save, who do I take with me when purchasing it, is it true that being 25 my insurance rates are low? I dont care if its a used car but I do want a car in the year 2001-06...help anyone thanx!

Answer 1

First off, save and put as much as y ou can as a down payment.  Don't be lured in by $0 down, that is how people get in trouble.  You should have enough to cover the taxes and fees, and at least 10% of the purchase price of the car.  20% would be better.  

So figure on a $10,000 car, the taxes and fees are roughly $1000 (varies by state and dealer).  Plus $1000 into the car means $2k on $10,000.  You will still be a little upside down, but not near as badly as if you had financed the entire balance.

Yes, most car insurance gets a price break at 25 yrs old.

Who to take with you?  A certified ASE mechanic.  If you don't know one, shop for a car and make sure you get a mechanic to inspet it before you sign anything.  It will cost you $100 or so, but it can potentially save you thousands.  Get it inspected before you sign, because the minute ink is on you paper you own a car and its problems.