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My first car out of college was actually my father's '66 Ford Galaxie 500, which I shared with him!
Since he only used the car on weekends, his reasoning was that, if I used his car for work for a couple of years, I could save a whole lot of my meager paycheck. My father's advice was good, and I used his car for two years, meanwhile salting away as much of my paycheck as I could.
The result was that, in 1971, I bought a beautiful brand-new Dodge Charger SE with leather bucket seats and a nice assortment of options, and I bought it for CASH. Ever since then, because of the financial foundation that I was able to establish in my earliest working years--thanks to my father's wise counsel--I have bought all of my new cars for cash, and in the process I have saved a small fortune on finance charges.
I did the exact opposite.
Bought a brand new 97 Mustang GT and moved out of my parent's house.
If I had saved back then, I would have been in a better position now. Not that things are bad now... but could have been better. For example, I could have had a bigger and a nicer house.
Purchased a 06 Jetta in 07 as a year old model from Enterprise. It had 28,000 miles on it, and has treated me great for the 5 years I've owned it. This year, we replaced my wife's car with our FIRST new car, a 12 Jetta TDI. Great car, and am loving the new car ownership. With the money we'd saved for the downpayment combined with the sale of her car, and the TDI's great depreciation we should have our head way above water for the life of the loan in case I decide to get rid of the car soon after it's paid off.
If I had saved back then, I would have been in a better position now. Not that things are bad now... but could have been better. For example, I could have had a bigger and a nicer house.
Hand me down Cutlass Supreme with the plush interior and most of the power accessories. I circled America in it by myself once. On a Sunday, I drove it in the fairly quiet Financial District in Manhattan - both next to the then-standing WTC and on Wall Street, with California plates! Only had a flat tire in Forsyth, GA during that trip.
1982 Buick Riviera that I bought from the original owner who worked at a Buick Dealershp. This was the worst piece of crap I have ever owned. I lost count of how may batteries and starters I had to replace in five years of ownership The engine finally blew and I have been driving Hondas ever since.
Bought my first "new" car while in college. A 1997 Ford Probe, which was a dealer demo, or company car, or something like that. I remember it had 3000 miles. First car after I graduated, two years after, was a brand new Jeep Wrangler.
At the time I didn't have loans, I had left college before finishing. Right before i got married I bought a 2k7 g6 v6 new for $16500
Great decision still rocking now, good fuel minor stuff to keep it going. 5 years old and like 72k. I mean it is nothing but been great and paid for.
Now I went back to school, finished and got a good job. I was driving my widest 2k cavalier it was giving me some problems when I needed reliable transportation. So I bought a 2k camaro. I eventually sold the cavalier and still drive the camaro daily except for my 85 camaro fun car.
Plan is pay some loans down more then, buy a new suv for the wife and I get my g6 back as my DD.
I bought my first car in HS in 1989. 84 Nissan 300ZX for $2k with a tranny problem. Swapped out the tranny and drove it till an 18 wheeler decided to use it as a speed bump.
My personal opinion on vehicles is that you never buy anything younger than 4-5 years old. The money you save will easily pay for any form of mechanical problems you are likely to face as long as you have someone check the car out first. (unless you are a very knowledgeable about vehicles/mechanics yourself).
When I graduated from college in 1994 I bought myself a second-hand 1984 Pontiac Parisienne.
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I lost count of how may batteries and starters I had to replace in five years of ownership The engine finally blew and I have been driving Hondas ever since.
