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Thread: Would a new ccar be right for a first-time driver?

  1. #1

    Default Would a new ccar be right for a first-time driver?

    Just want peoples input on this? Would it be the right move or not? I like how those Nissan Versas and Sentras look and with enough looking around on the web I bet I could find a good deal. For those who may have experience financing (not leasing as its the same thing as renting, I want something I can call mine) tell me how difficult it would to get financing and what the process is like?

  2. #2

    Default Re: Would a new ccar be right for a first-time driver?

    My first car was a Ford ranger 5 speed, then an old gmc jimmy, them a Chevy Malibu, now a Subaru Impreza.

    My recommendation would be something along the lines of the Malibu. It is a car that is not that expensive, good on had mileage and doesn't usually have much in terms of mechanical issues. I drove my Malibu for 5 years and didn't have any issues, i just decided that i wanted a new car after finishing school and getting a good job.

    For a first car i wouldn't go all out but search the lots for a good midsize car, but be sure to do your homework on the machine you are looking at, and also the reputation of the business you are dealing with.

  3. #3


    I'll lay it down for you.

    It says your 21, and you live in Colorado.

    1) Do you have any credit to your name?
    2) Do you have a working job to pay 199-299 a month for such and such a month on a brand new vehicle? This price varies.
    3) If you take out a loan, that loan will have a certain amount of interest depending on that history.
    4) No prior driving history, first time vehicle owner = about 100 insurance depending on Colorado laws.

    Your looking at about 300-400 dollars monthly just to own the vehicle. Some loans also have a very high APR. I'm also skipping another amount of dues to register and other things the first month. So about 500 bucks.

    If you have no credit history, you cannot even take out the loan. No bank will give a 21 year old a 15k loan or more with no credit, or a loan with a ridiculous APR. You might as well just not.

    Here's a simple article I found to explain the lease vs. finance question: Car Financing: Buying vs Leasing -

    As a new car driver, do yourself a favor and purchase a cheap used car. It will be better and cheaper for you in the long run.

  4. #4


    I think credit untions are a bit more leaniant than banks, wouldnt they?

  5. #5


    Quote Originally Posted by BabyBalto View Post
    I think credit untions are a bit more leaniant than banks, wouldnt they?
    Credit unions are more lenient than banks, that's for sure. But you have to be a member of them in order to get a loan from them. Most credit unions have a 'minimum deposit amount' which you need to pay in every month. And they're sensible people - if you've got no credit history, and don't have a well paying job that you've been paying into them every month for some time then they won't lend to you either.

    It was on the news in the UK this week that 1 in 5 drivers will write their car off within the first year. That's pretty high odds, and insurance costs reflect that.

    There's really no point in buying a new car if you can't afford it, if you've got a 1 in 5 chance of writing it off, never mind all the usual bumps and scrapes that you run the risk of anyway, especially as a new driver. If you're going to have to take out a loan for it then it's not worth it. You know that cars depreciate mega amounts as soon as you drive them away from the showroom, right? If you default on a payment your car could get repossessed, and even then you'll STILL owe money on it, because of its depreciated worth.

    I'd recommend you start saving (and you'll need to have some money put buy for when it needs new tires, or the windscreen cracks, or the check engine light comes on and you can't work out why), and buy a second or third hand car, with reasonable mileage left in it. You can get some nice newer cars for a lot cheaper than you'd get new, and some of them have barely got any miles on them, for whatever reason. Save a nice car for when you know how to drive properly, you can afford it, and you'll actually appreciate having a good car.

  6. #6


    Out of all the makes I've looked at so far, it looks like Volkswagen has the best offers right now: 0.9 APR for 66 months.

    However, I will not look at a Toyota, Lexus or Scion product. I am VERY Anti Toyota, ever since that thing that happened to them in 2009.
    Last edited by Balto91; 20-Feb-2013 at 21:01.

  7. #7

    Default Re: Would a new ccar be right for a first-time driver?

    From what i her vw, is a pretty good car. But I'll say again, for a first time buyer, of you have no credit, a new car may not be the best choice. When i bought my Subaru in 2011 i had some credit and still didn't qualify for their best rate.

  8. #8


    Its classic german engineering. I can probably shop around for a good rate like I can a good price.

  9. #9


    You will not qualify for that rate. Read the fine print.

    Have your parents or another experienced family member help you out before you go and make a mistake.

    Best of luck.

    Its classic german engineering
    At your local neighborhood Ford dealer™

  10. #10


    I like Fords, those new Fiestas are attractive. Hmm.........maybe there is a first-time buyer program.

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