24, new to financial world, need advice

[project15]

Originally Posted by MaverickSB

Car fuel is expensive. This is the reason I am selling the car. Its runs me close to $60/week. It takes on 91 fuel type, and in santa barbara that runs about 3.75/gal. right now. Its a V8. Bleh.

Just guessing, but it's probably a mid-90's domestic v8? If that's the case, I don't think you NEED to use 91 octane unless it's turbo'd or supercharged.

Also, with a new car, you'll still be paying at least $40 a week in gas, so is a $300 monthly car payment really worth it to save maybe $80 in gas?

Another thing...if you can take off comprehensive and collision insurance on your old car, do it! You should NOT be paying the extra money to fully insure a $2800 car. With a new(er) car that is financed, you have to pay for comp and collision insurance, so keep that in mind too.