Ilana Gaster: RESP is a savings account for post-secondary education.
Oscar Wieland: I'm telling you right now, there is no way in hell you will afford a car AND insurance, maintenance, repair, and gas. Here, i'll highlight everything you've mentioned. Sorry if I get too basic or too technical. I have no clue what you know about buying and maintaining a car and because you want to do so, I assume you don't.Car - Buying a car, thanks to credit unions, is extremely easy but only if you can make all the car payments which requires a real job. I'm sorry but a 9.60 an hour job is not enough to pay for a car if you only work 6 days a week. Typically, you go to a dealer, pick out a car, set a down payment, and decide on a monthly payment. This monthly payment really depends on how big your down payment was (a good one is about 3 to 5K) and how much you earn (so you can actually make the payments) and since half your money is going into RESPs then I see it impossible for yo! u to buy a car. Insurance - My first problem with insurance is you. You're 15. In the eyes of Allstate, Geico, State Farm (and pretty much every insurance company there is and ever was), you're just an irresponsible little brat with acne who punctuates every sentence with 'dude' such as "Hey, I totally won't wreck this car, dude." Yea. How convincing. This causes your premium to go up. Now I know this stereotype might not apply to you, and they do too. If you present them with a report card with high grades they might think you are responsible and give you a little break, but more than your grades and your acne, the first thing they look at is your car. Is it 'sporty' 'fast' or 'expensive'? If any of these apply, your premium goes through the roof, and with cars like the Lancer and the Impreza, they will because they are delicate and death traps, really. I suggest going for either the Aerio, Echo, Swift, Sentra, Legacy, or Elantra but even so, its too expensive for you to h! andle.Maintenance and Repair - Wait, those cars I just gave yo! u... Why are they all Japanese? Oh yea. The Japanese, for decades, have made the most fuel efficient (we'll get to that next) and most reliable car's on America's roads. Since their invasion in the 1970s, we've stowed away our fun, American cars for the more sensible Japanese. And since they never break down, all you'll have to do is have the oil changed, or even do it yourself! Doesn't that sound fun? This, actually, might be the only section in your favor. Gas - Now, even though you would own a Japanese car of the 'simpleton' type if you were to take my advice, you would have to pay for gas. Not a lot of gas, actually, since these machines are pretty good on using it wisely. However, you might have trouble paying for it. I mean 3 dollars a gallon? Damn. 1 gallon and that's 20 minutes of work gone. That might not sound like much, but overtime it does leave its mark. You might be feeling a bit glum now that you hopefully realize you can't afford a car, but let me make a sug! gestion before you go cry in your room (I would...). Buy a motorcycle. A small entry level bike like a Honda Rebel. It is only 4,000 dollars... Insurance might be a bit high for a 15 year old but low cost maintenance and tons of MPGs make up for it. Not to mention the excitement of having the road by your feet and the wind in your helmet. Go for it. Do it. Fly like an eagle!...Show more
Billie Bratchett: I'm sorry, don't know what RESPs is. It would be easier for you without that, but you c ould satill do what you want, just set your sights on the cheaper cars, only because they are more easily affordable, Acura, even used, is more expensive, but they are nice cars, good luck...
Blythe Noreiga: @ TheSpaceI wont be buying a new car o.o I'll be buying used. I even listed the years of some of the cars I'll be buying, how in god's green earth will I be buying a new 1995 Swift? Get a time machine?My parents really dislike the idea of me getting a motorcycle since my! dad almost killed himself on one. But I guess it might be worth lookin! g into anyway. ...Show more
Kris Bozelle: Hi there..After sitting and reading your blog. No one has said anything about having,a classic Volkswagen for there first car.I paid $750 for my 1972 VW Beetle.She needed some work at first,but I had a great learning experience doing it. I had it 12 years give or take.There cheap and easy to work on. The parts are cheap as well.I would also look into getting a Geo Metro.They are also very cheap and easy to work on too.The auto insurance for these cars,are nothing for a first time driver. Best of luck to you in your driving adventures =)...Show more
Warren Kotter: Yes I have looked at the physical price tag of most cars on Autotrader.ca and Kijiji.ca, and I even crossed out some cars due to it (All bentleys, audis, and lexuses because of their high price). I just havent checked a few cars on the list, which I will get to.I also took a look at reliability for all the cars, and they all have a good reliability record due to! many reliable sites and resources and reviews. ...Show more
Sabra Roers: yes it can be done but while you are looking for cars start checking on car tag prices-can you be put on your parents insurance and how much will it cost--estimate your fuel costs for the amount of driving you will be doing(be honest with yourself you will want to drive all the time-ha) oil changes every 3-4000 miles-tuneups-repair costs if you have an older car(how much can you do ) tires -- front end alignments--do your estimations and look at the money--unless you have good income estimations you will soon find the costs are going up and your time for your job cuts into school work time--its all a balancing game and you don't want to shortchange yourself for the future over a car in the present--if you find that you will be able to afford an auto then go for it!...Show more
Maynard Reevers: Affording A Car
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