 |
Save up the money. Don't go into debt for a
vehicle. |
|
Carefully consider all options. This will
probably be the first test of your financial
decision-making abilities. |
|
You should know exactly what the insurance, gas and
maintenance costs will be for any vehicle you are
considering. |
|
Compare fuel efficiency for different vehicles before
making your decision. This information is
available from the US Department of Energy website www.fueleconomy.gov. |
|
Estimate how many miles you will drive, and you can then estimate
your gas costs. If a vehicle gets mileage of 20 miles per gallon
(mpg), and gas costs $4 per gallon,
then your gas will be costing you $0.20 per mile. A larger vehicle
getting 15 mpg will cost $0.27 per mile at $4.00
per gallon. |
|
How much will it cost you to park the vehicle at
school or at work? |
|
You can save money by buying a slightly used vehicle,
and still get some factory warranty. Check the
sales of ex-rental vehicles. |
|
Newer vehicles usually require less maintenance than
older vehicles. |
| If you don't know much about vehicles, and maybe even
if you do, it would be wise to have your chosen vehicle
inspected professionally for mechanical problems. The American Automobile
Association (AAA) is one organization that
will do a mechanical inspection for a fee. Their
website also offers tips and other help for buying new
or used vehicles. |
|
Do a search to see if there are any liens against the
vehicle. |
|
A careful inspection by an experienced auto body
repair person would be advisable (this saved our bacon
at least once!). |
|
Once you determine how much you can afford to spend on
a vehicle, and what the operating costs will be, use
these numbers to determine what you would have in the
future if you invested the money instead. This
might convince you to use public transit instead of
buying a vehicle. |
