How much do I need to save up for when buying my first car?
I'm about to turn 16 and I need a car because I have a split household and my family can't always drive me. I also plan on doing a collge program through my highschool. I live in minnesota. I would like an estimated cost.
- 8 years agoFavorite Answer
Well ur going to need at least 15,000 probably more depending on Wht u want I mean a brand new camero might be 45,000 waaaay different than a crappy 2,000 dollar car that doesn't hav ac it just really , I mean if I were u if get a good used car with great gas mileage
- 8 years ago
Depends on the car you want but you want to pay cash and avoid payments. You can get a cheap used car for as little as $1000 but it won't be as nice as a used car for $5000 in general. These are generalized numbers as I am not referencing anything specifically.
Just save a large amount and then find a car on craigslist and work with one parent or the other to purchase it. You have to be 18 to "own" a car and register it and all that jazz so it would be worthwhile to talk to your parents about this because you will have to have one or the other help you!
- BillLv 78 years ago
I suggest you save $8000 for your car and its insurance. $5000 for the car +$1500 for the first years insurance and the rest($1500) for an emergency fund to be used only if the car breaks down and needs repairs or new tires or brakes. Good luck
- MikeLv 48 years ago
As much as it costs to buy it.