Automotive

First Car , First time driving , 5k to spend, advice ?

  • Last Updated:
  • Jun 15th, 2015 8:34 pm
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Jul 22, 2006
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kingkam92 wrote:
Jun 9th, 2015 9:35 pm
Sooner or later I would need it for work, work can be now or even a year later, my salary should be at least 24k after taxes.
That's not enough for car AND mortgage
Sr. Member
Jan 20, 2004
690 posts
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If this is your first car and you are fairly young, your budget is barely enough to cover the insurance. So a $5k car will cost you more than $10k for one year. Also a $5k car does not necessarily mean thats all you will spend, $5k cars wont be in mint condition with all maintenance and repairs completed, guaranteed items will come up soon after purchase that will require parts and labour for.
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Sep 12, 2008
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Ryus wrote:
Jun 10th, 2015 8:47 am
If this is your first car and you are fairly young, your budget is barely enough to cover the insurance. So a $5k car will cost you more than $10k for one year. Also a $5k car does not necessarily mean thats all you will spend, $5k cars wont be in mint condition with all maintenance and repairs completed, guaranteed items will come up soon after purchase that will require parts and labour for.
I agree with Ryus. Since it's your first car and never been insured, the cost of insurance will be very high. I would get estimates from different insurance companies for the car you're thinking of buying. You can decide then if it's within your budget to own a car. Good luck.
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Nov 2, 2014
997 posts
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Scarborough, ON
Buy a beater for under a grand and use the rest to cover most of the insurance for the year.
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The answer to every cheap car question is Civic.
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kitchener
I noticed that this kind of question gets asked a lot....maybe the mods could create some kind of a sticky to which everyone can ad their 2 cents?
[OP]
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Nov 30, 2012
630 posts
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MONTR
thanks for the response guys ...
I know insurance is going to be costly, with the maintenance fees, gas, plates, registration, but at the moment I have no choice.
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Oct 24, 2012
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kingkam92 wrote:
Jun 13th, 2015 12:05 am
thanks for the response guys ...
I know insurance is going to be costly, with the maintenance fees, gas, plates, registration, but at the moment I have no choice.
You live in Quebec, so you won't pay an arm and leg for insurance. Just get the liability insurance (minimum), it will cost you around 70$ a month I guess? No more than 100$ I am sure.

Find a car for 3000$, hunt around on Kijiji, look for something reasonable. Use half of the 2000$ left over for the plate, sales tax and a new set of winter tires (because people selling a used car for that cheap will usually have maybe the one set of tires that is almost finished). The last 1000$ will go towards repairs for the first year.

It will be a crap car and you'll be ashamed, but it will work and you won't have spent more than 5k$
[OP]
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Nov 30, 2012
630 posts
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MONTR
alkizmo wrote:
Jun 13th, 2015 2:09 pm
You live in Quebec, so you won't pay an arm and leg for insurance. Just get the liability insurance (minimum), it will cost you around 70$ a month I guess? No more than 100$ I am sure.

Find a car for 3000$, hunt around on Kijiji, look for something reasonable. Use half of the 2000$ left over for the plate, sales tax and a new set of winter tires (because people selling a used car for that cheap will usually have maybe the one set of tires that is almost finished). The last 1000$ will go towards repairs for the first year.

It will be a crap car and you'll be ashamed, but it will work and you won't have spent more than 5k$

Hey thanks for your response. I might have to get two way insurance, don't you think that is better ? Last time I requested a quote for the insurance on a Honda 2008 automatic, I received a quote for about 2200 $ (around that ) for the year .. I was wondering because maybe It was my first car and first time to drive ?
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Brooklin
Advance search cars on auto trader and kijiji.
- Where Br★★klin At -
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Sep 21, 2011
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OP you live in Quebec so insurance is dirt cheap and isnt electricty dirt cheap i cant imagine what else is dirt cheap there , you probably can afford a car and house where you live, NOW if you were in Toronto that salary would just you insurance lol
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Oct 24, 2012
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kingkam92 wrote:
Jun 15th, 2015 4:19 pm
Hey thanks for your response. I might have to get two way insurance, don't you think that is better ? Last time I requested a quote for the insurance on a Honda 2008 automatic, I received a quote for about 2200 $ (around that ) for the year .. I was wondering because maybe It was my first car and first time to drive ?
Two way insurance will only cover you for repairs on your car when YOU are at fault.

Now, if you get a car 4000$ (Because as I said, your budget is 5000$, and you'll be paying taxes, plates and new tires) then is it really worth the two side insurance? Ask for the difference. Usually the liability-only insurance is dirt cheap, less than half of what you'd pay for 2-side insurance. You probably won't care to get dings and bumps repaired if you caused them. Please remember that you'll be buying a "minoune", you shouldn't bother spending any money on it for cosmetic repairs. Cosmetic damages are all you would cause as a new driver, if you do any real damage, it's because you were immature and irresponsible with your driving.

Just for comparison, I pay about 1440$ for two-side insurance on TWO vehicles with a combined value of 30k$, driven by TWO main drivers (Wife and myself). Your 2,200$ quote is probably only 30% "liability only" coverage.

I still recommend 3000$ car purchase and keep 2000$ for everything else. You'll need that 2000$ for everything else that comes with car ownership. If I understand right, you have very little income as a student, so it isn't like you could easily afford repairs/maintenance down the line.

I also suggest you get a dash cam since you won't be a good defensive driver.
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Jan 28, 2015
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Jenuine wrote:
Jun 9th, 2015 8:59 pm
I don't think you'll be able to find a Civic with less than 130,000 km for less than $5k.
I bought a 2003 Civic with 150k for $3900. Its doable.
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Nov 6, 2010
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Insurance shouldn't be that bad in Quebec compared to Ontario, even for a young driver. I'm primary on my 99 A4 (24 years old) and I pay on average 700$/yearly of insurance for one-way.

I agree with Alkizmo that if this is your first ride that you should put more money aside for maintenance and whatever might happen. Things like tires alone can cost upwards of $400 (and in Quebec you need 2 sets). This is especially true if you're a student and don't have reliable constant income. While I'm making money from co-op I'm trying to do as many things near my maintenance schedule as I can before I go broke again :lol:

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