Buying and owning a car can be a nerve racking experience- especially for young ones
Every week, the e-mails roll in. "I'm a 19 year old male with a clean driving record, and I'm nearly ready to buy a car. But I can't find insurance for anything under $300 a month!" Heaven forbid you have a violation like a speeding ticket or careless driving charge. That being the case, you might as well get a bus pass until you turn 35.
Your messages haven't fallen in front of un-sympathetic eyes, as your author is a sub-25 year old male who pays an arm and a leg for insurance as well.
Some young drivers over the course of a year will likely pay more in insurance premiums than they did for the vehicle itself.
Been there, done that.
My first car, a 1988 Isuzu I-Mark cost me $1800 to buy and $2900 a year to insure- and that was only the basic coverage needed to drive. Had it been stolen or crashed, I'd have still been out of a car.
New cars are even more costly, and leasing one generally requires full insurance coverage which costs hundreds more.
Is it totally hopeless if you're under 25 and looking for a new or used set of wheels? The answer is no- but it can definitely seem that way. It's not hopeless, but it is expensive. No two ways about that.
Jordan Martin is 18 years old and just finished high school. He currently drives a Honda Civic and is looking for something newer in time for the spring. He explains some of the concerns that teenagers face when buying a car, starting with choosing one. "You'd usually want something fun to drive which is good on gas and reliable- maybe a little sporty or with a decent stereo. But it can't cost a whole lot either."
A good match in his case is a machine like the 2007 Ford Focus SE. Having been driving one while preparing this report, I handed Jordan the keys to hear his take on it. With 136 horsepower, heated seats, air conditioning, heated mirrors, alloy wheels, a body-kit and spoiler and even a 6-CD changer, it still comes in under $20,000. "It seems to handle really well" he says. "And I think it looks cool with that body kit. It's a nice car to drive."
Perhaps he'll consider it for springtime.
Of course, he'd have to insure it- which can be a bit of a problem. He explains "For students, the biggest blow to the wallet is insurance. Some may find their insurance payments are higher than the car payments, which may cause a lot of young people to rethink how much money they want to spend on a new car."
Every week, the e-mails roll in. "I'm a 19 year old male with a clean driving record, and I'm nearly ready to buy a car. But I can't find insurance for anything under $300 a month!" Heaven forbid you have a violation like a speeding ticket or careless driving charge. That being the case, you might as well get a bus pass until you turn 35.
Your messages haven't fallen in front of un-sympathetic eyes, as your author is a sub-25 year old male who pays an arm and a leg for insurance as well.
Some young drivers over the course of a year will likely pay more in insurance premiums than they did for the vehicle itself.
Been there, done that.
My first car, a 1988 Isuzu I-Mark cost me $1800 to buy and $2900 a year to insure- and that was only the basic coverage needed to drive. Had it been stolen or crashed, I'd have still been out of a car.
New cars are even more costly, and leasing one generally requires full insurance coverage which costs hundreds more.
Is it totally hopeless if you're under 25 and looking for a new or used set of wheels? The answer is no- but it can definitely seem that way. It's not hopeless, but it is expensive. No two ways about that.
Jordan Martin is 18 years old and just finished high school. He currently drives a Honda Civic and is looking for something newer in time for the spring. He explains some of the concerns that teenagers face when buying a car, starting with choosing one. "You'd usually want something fun to drive which is good on gas and reliable- maybe a little sporty or with a decent stereo. But it can't cost a whole lot either."
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| Jordan Martin |
A good match in his case is a machine like the 2007 Ford Focus SE. Having been driving one while preparing this report, I handed Jordan the keys to hear his take on it. With 136 horsepower, heated seats, air conditioning, heated mirrors, alloy wheels, a body-kit and spoiler and even a 6-CD changer, it still comes in under $20,000. "It seems to handle really well" he says. "And I think it looks cool with that body kit. It's a nice car to drive."
Perhaps he'll consider it for springtime.
Of course, he'd have to insure it- which can be a bit of a problem. He explains "For students, the biggest blow to the wallet is insurance. Some may find their insurance payments are higher than the car payments, which may cause a lot of young people to rethink how much money they want to spend on a new car."