How dificult is it to manage owning a vehicle?

[fa7592]

I am 17 years old and have been working my first job for about 5 months now, solely saving my money for a car that I can buy before my senior year of high school. I want to know if maybe it will be too difficult to manage owning a car, which I will pretty much be paying for completely by myself. I usually make around $250 every paycheck, as I work during the week after school for about 4-5 hours a day.

Gas is killer these days, with it being just around $4.00 in my area. Considering that I will be driving my car both to school, and to work (assuming that by then I am still working at this job, and haven't one a little closer to my house), that's going to put quite a dent in my wallet, don't you think? My dad is currently paying for my insurance right now, because I only drive his car whenever I have the chance, but I'm around 90% sure that if I do end up getting a car of my own, that I will be paying for my own insurance as well.

I also have to put into account any damages/maintenance fees that (hopefully will very seldom) come up. I don't know how much that costs, but assuming I get a car that's in decent shape it shouldn't be a monthly thing, should it? Are there any other things that I should consider before buying a car? I will definitely be buying a used car, most likely from a private seller and not a dealership to avoid any monthly installment fees for the car itself.

So, what's the final verdict? I very much would like to have my own car for my last year of high school, but obviously if it is too much to handle and/or will put me in a lot of financial stress, then of course I will back off from getting one right now.

[mcfroggin]

How much have you saved?

[disneysteve]

Is your $250 check weekly or bi-weekly? Other than the car, are there any other expenses that you need to cover out of that money. How secure is that job? If you were to lose the job for some reason, would your parents help out with the car expenses?

You should be able to get estimates on car insurance online so you have an idea how much that will run. Figure out approximately how many miles you'd be driving each week to estimate gas costs. Your parents should be able to tell you how much registration is in your state. Maintenance can certainly be variable depending on the vehicle and how well cared for it has been before you get it as well as how well you take care of it.

If your pay is weekly, meaning you earn about $1,000/month, you can certainly afford to buy and maintain a car if that is your only expense right now. Don't forget to think about the future, though. What happens after high school? If you go away to college, will you still have the same income? Some colleges don't permit freshman to have cars on campus so you might have to park it at home but still pay registration and insurance. Or you might be putting a lot more miles on it if you commute to school or live on campus and drive some distance home a few times each year.

[MonkeyMama]

I think you have thought through most the costs. What else is there? Annual taxes? Won't be significant if you go older vehicle.

I have personally found little difference in maintenance/upkeep in newer cars versus older cars. Try to find a car in the family - something you know has been well taken care of. Buying outside family/friends *ups* the unreliable factor. Don't buy any car without having a trusted mechanic check it over. In general, if the car looks immaculate, it's been kept well. If it looks like crap, it hasn't been kept well. Kind of my experience. You'll know an immaculate engine when you see it. Search out older models that are rarely driven. My second vehicle was a 7-year-old Mustang - had been mostly garaged, barely driven, and still had that new car smell. Cost $5k-ish - a very nice car.

All that said, I think cars can be a very expensive endeavor to take on. BUT, I was always was able to work more and open to more work possibilities with a car. So, having a car since I was 16, MORE than paid for itself. Just depends on public transport options in your area, etc. I live in a VERY spread out metro area. I did pay $1k for my first car (from relative) and drove it 7 years, so I didn't have a lot of auto expenses. Gas was pretty cheap back then, so I may be biased in that regard, too. I wouldn't say I could have afforded anything more than that, back then.

[fa7592]

Originally Posted by mcfroggin

How much have you saved?

Well right now, I have about 1200 saved up. I just recently started working weeknights. Up until April I had been working weekends only. I plan on saving up as much as I can by the end of the summer, and then according to what I have, get a car that will suit me.

Originally Posted by disneysteve

Is your $250 check weekly or bi-weekly? Other than the car, are there any other expenses that you need to cover out of that money. How secure is that job? If you were to lose the job for some reason, would your parents help out with the car expenses?

You should be able to get estimates on car insurance online so you have an idea how much that will run. Figure out approximately how many miles you'd be driving each week to estimate gas costs. Your parents should be able to tell you how much registration is in your state. Maintenance can certainly be variable depending on the vehicle and how well cared for it has been before you get it as well as how well you take care of it.

If your pay is weekly, meaning you earn about $1,000/month, you can certainly afford to buy and maintain a car if that is your only expense right now. Don't forget to think about the future, though. What happens after high school? If you go away to college, will you still have the same income? Some colleges don't permit freshman to have cars on campus so you might have to park it at home but still pay registration and insurance. Or you might be putting a lot more miles on it if you commute to school or live on campus and drive some distance home a few times each year.

I get my paychecks bi-weekly. I wish I got paid 250 weekly...
As for my job, it's at a fast food restaurant, so I don't imagine that it's all that secure. People get fired for the littlest thing at fast food joints. However, I am not a bad person, and have a strong friendship with the manager and all my other co-workers, so I don't think I need to worry about me getting fired. I definitely want to quit, however, because it is a good 15-20 minute drive from my house, and I want to work somewhere other than at a fast food restaurant. I know the drill though, I'm not going to quit this job until I have secured another job for me. If I were to get fired for some reason, my parents would definitely help me out, but just for a limited period of time. For college, I am most likely going to be going to a school that is close to my house, so I will most likely be driving to and from class every day, or just whenever I have class.

[greenskeeper]

save as much as you can until the time comes to buy the car. Then pay cash. Even with the $1200 you have right now you can get a decent car if you look around.

Be sure to have some cash set aside for maintenance and repairs.

While driving dad's car around take note of how much gas you go through in a week. Add in the cost of insurance per month and you should be able to do it.

Remember, you don't have to have the nicest looking car around, just one that gets you from point A to B!

[Mr Nice Guy]

I suggest you see if your parents will match a portion of the down payment. Maybe they will be able to pitch half, a third, a quarter. First, continue working and SAVE SAVE SAVE. Dont buy stupid shoes or things that a lot of your classmates buy. It will pay off for you in the end. Once you have shown your parents how responsible you are they may be less reluctant to help you. If not, at least you tried!

If at all possible, do NOT buy a piece of crap car. I know you want to have wheels 24/7 ASAP, but a junker is way more trouble than it is worth. "He who is prudent and lies in wait for an enemy who is not, will be victorious." - Sun Tzu

[Sukhdeep]

It is Nice post

[jerrycates]

Think it this way. It is like having a 3year old kid with you all day.. every day. Where your mind is thinking about it even when you are busy at work. Thinking of where to bring it after work. Take care of it when you get home. Feed it with the best too!

[landon.bruno]

It’s not that difficult unless and until you are quite particular about your investments. Don’t mess up with your insurance be regular and neat driver. That is enough for managing a vehicle.

[elessar78]

Since you have some time and going to a private seller, learn/practice your negotiation skills. It's very useful tool in many walks of life and could save you a few hundred bucks.

But it sounds like you're doing the right things. The first car I bought was brand new and rather nice for a kid my age (after college), big mistake. Should've gone with the cheaper used Camry, instead opted for a flashy two-door Accord and paid twice as much for it. Basically, if you want to learn about owning and maintaining a car, you need to own one. But own one that's a "learner" car. There can be a lot that goes into making sure your purchase runs for a long time.

Also, project a few years into the future about your needs. Be realistic about these needs and how a car fits into your life/self-perception. Again I bought a two-door accord when I was 23 and single. Now I'm 32 with a paid off car with a wife and kid, it's not so practical anymore.

[nick__45]

Originally Posted by fa7592

I am 17 years old and have been working my first job for about 5 months now, solely saving my money for a car that I can buy before my senior year of high school. I want to know if maybe it will be too difficult to manage owning a car, which I will pretty much be paying for completely by myself. I usually make around $250 every paycheck, as I work during the week after school for about 4-5 hours a day.

Gas is killer these days, with it being just around $4.00 in my area. Considering that I will be driving my car both to school, and to work (assuming that by then I am still working at this job, and haven't one a little closer to my house), that's going to put quite a dent in my wallet, don't you think? My dad is currently paying for my insurance right now, because I only drive his car whenever I have the chance, but I'm around 90% sure that if I do end up getting a car of my own, that I will be paying for my own insurance as well.

I also have to put into account any damages/maintenance fees that (hopefully will very seldom) come up. I don't know how much that costs, but assuming I get a car that's in decent shape it shouldn't be a monthly thing, should it? Are there any other things that I should consider before buying a car? I will definitely be buying a used car, most likely from a private seller and not a dealership to avoid any monthly installment fees for the car itself.

So, what's the final verdict? I very much would like to have my own car for my last year of high school, but obviously if it is too much to handle and/or will put me in a lot of financial stress, then of course I will back off from getting one right now.

Why don't you focus on your school work and go to college? Once you finish that, owning a car is a piece a cake. If you think small, you'll get small. If you don't have to have a car of your own, I wouldn't get it. If you're a male driver, the insurance fee would kill you. If you are a female driver, the maintenance/repair bills would kill you because repair shops love young female drivers coming in for that free inspection or discount oil change.

[nick__45]

Originally Posted by Savings Guy

Don't make your life difficult you are just 17 years old. Give it more time , save some more money and then get a better car , keep on driving you dad's car till then. Don't stress yourself , I will say concentrate more on your studies.

Education and good career make owning finer things in life an option you can decide without stressing yourself out. I can drive cars from any value up to $70k but I opt for something in the $2k range ($600 before I replaced the essential to make it running top notch.) To me, driving a visually $600 car that has new parts is very stress free. I can park it anywhere and no-one wants to steal it. A little ding here and there won't bother me. High mileage is actually a badge of honor. The only thing stressing me is high gas price but my Corolla gets 35 mpg so I spend less than $8 a day in gas to make ~$700. That is not a bad trade-off. If gas was $2.5, I would be driving a truck getting half the mileage.