When did you buy your first Vehicle? Also a question about Private pay

[yoeun]

I bought my first vehicle in the US when i was 19. It was a nice coupe but didn't last very long. I'm 24 now and have been offered a job in CF (starting in Aug 4th is my swear in date). I'm debating if i should purchase a new Nissan Xterra Off Road. I'm not quite sure if its a good idea buying a car with no income for 2 months until i get sworn in, but damn is it ever hard to look away.

When did you guys first buy your vehicle (your own and not with dads money) and what make/model?

edit -
How accurate is the private pay? per month it states 2500$ (before taxes i assume). I spoke to a friend about financial advise. It looks to me that I may be able to afford a new car, its just a question of exactly how much i get paid

 

[Michael OLeary]

Considering you're about to spend a few months stuck in St Jean, and then wherever your trade training is.  And that little, often overlooked, fact that if something unfortunate happens you could be there even longer, or not there at all (but still have the debt).  Perhaps over the next while (I.e., the next few years possibly), you should just think about a vehicle as transportation rather than something that accessories a mostly theoretical lifestyle. A new SUV is a big investment that will depreciate substantially while it sits in a gravel parking lot on a base.

You may want to start by reviewing this thread: Entering the CF and YOUR Money....

 

[Rinker]

My first was a Mitsubishi Montero, totaled 5 days in (Flipped it in the air, landed and rolled it). Then I bought a corsica, but the bottom was rusting out, so I bought a Cavalier, it works but I drove it too hard on the back roads and now the transmission is falling apart. So I bought a VW gulf, and just last night it blew a gasket spilled oil all over my drive way. And I'm not even 18 yet. And what I would really like to buy now is a Jeep Brute.

 

[aesop081]

How accurate is the private pay?

Accurate ?

What is posted on the CF website IS the pay....theres no accuracy issue. All before tax and other deductions of course.

 

[Occam]

I bought my first vehicle in the US when i was 19. It was a nice coupe but didn't last very long. I'm 24 now and have been offered a job in CF (starting in Aug 4th is my swear in date). I'm debating if i should purchase a new Nissan Xterra Off Road. I'm not quite sure if its a good idea buying a car with no income for 2 months until i get sworn in, but damn is it ever hard to look away.

Call me crazy, but has it occurred to you that it might be a really bad idea to make financial commitments based upon a job that you don't even have yet?

What if you break a leg between now and August 4th?  What if you fail BMQ? 

Frankly, I'd be surprised if any lender would give you money for a new vehicle if you go in and tell them "No, I don't have a job right now, but I might have a job with the military in a few months".  I strongly suspect they'll laugh in your face.

Think about what you're doing, and don't become an administrative burden before you've even enrolled.

 

[Jammer]

In any case I waited two, (2) years AFTER I was posted to Petawawa, and only then did I buy a used veh on a 3 yr loan.
Buying a new veh is one of the worst investments out there. Do you really need a 4 X 4? Starting out you would be better off with a "previously enjoyed" small car.
Lots of folks here have horror stories of young'uns going out a getting big trucks or race cars only to find themselves standing on front of their COs explaining why creditors are calling the Base to find out why Pte Johnny can't make his car payment(s).
Just a thought to ponder.

 

[dapaterson]

I'd echo Jammer's comments.  For your first year (at least!) you'll be busy undergoing military training with little need for a car - and for weekend get-aways you can always rent (which is also one way to try a vareity of different cars before making a decision).

Do a rough calculation of how much a car will cost in your first year - payments, insurance, and gas - then stop to think that you'll be getting minimal use from it because the CF will be filling your time with other endeavours.  Why not save that money instead - then, once you're at your first posting, you'll either have a bigger downpayment for your car, or cash for some other toys (mmm.... big screen plasma TV...)

 

[Rinker]

Yea I am selling my car before going into the army, if I pass backcheck etc. So I would not recomend making an impulse drive. Plus where are you gonna go in your first year withj a 4x4.

 

[1feral1]

I bought my first car, a 1966 Mecury Meteor 2 door, with bucket seats/counsol and a 289, 3 speed auto transmission. $500. That was Sep 1975.

On signing on with the Militia at the age of 16 in Jan 1976, a Militia Private's daily rate was a whopping $16.50, with $1.50 meal allowance which was paid in cash, at a meal allowance parade before lunch.

Those were the days when a 24 pack of beer was $7.85.

OWDU

 

[Good2Golf]

'73 Charger, 440 auto, $2200 in '86.  Still have it, but the 8 MPG (yes, that's not a typo) means it comes out only for special occasions.

As others have said, a car is but one thing to think of -- start your financial discipline NOW!  ALWAYS put a little bit of your pay away in savings that you WILL NOT touch -- be honest with yourself here, don't cheat or you have a high likelyhood of being that guy in front of the OC or the CO explaining your crappy financial situation (that's after you Platoon WO has already had at you...) 

A new car is a horrible thing from a financial point of view, especially for a young person trying to get good momentum on making yourself comfortable throughout your life. 

Try this as a thought...new car, say a $2000 down payment and great payments say $399 plus tax a month.  Add $200 a month for insurance (probably more for young male), add $150 a month for gas, add an average of $75 a month for other consumables related to running the car and now do the math for your 72 month finance.

2000 + 875 month = $65,000 over six years!    Sound like a lot...yup, it is. 

Trust us, many of us would have altered the plan a bit if we had done this at an early age.  :nod:

Take your $2500/month and take of tax, single quarters, messing, as well as the bit you were going to invest in savings, and you'll see that a few hundred dollars a month into savings for that same period.

In the end, the choice is yours, but make sure you make your choice being fully informed, and having though of just how much that shiny new car will really cost you.  Maybe a beater/starter isn't such a bad thing to start.  I don't know how many guys I can count who had that flashy Camaro during their first posting and now, years 'down the road', wish they hadn't been so fast to max monthly payments that fit within a naively optimistic personal budget.

Hey, if you want a cool little 4 x 4 look for something like a cool FJ55 Land Cruiser, something that has personality and a bit of that retro style...  ;D

Cheers
G2G

 

[Biohazardxj]

Back in '85, after I had a year in, I went looking for a loan for a used car.  I think it was around 5 grand.  The banks laughed at me.  Mind you, back then a private didn't make a hell of a lot and being 21 I didn't have any credit history.  If I were you I would wait until you have finished BMQ/SQ, QL3 and are posted to your first base.

 

[chris_log]

I bought a brand new car (just over $23 000) on Pte pay, was paying more then you would pay for R&Q (and even more now) and was paying around $250 a month for insurance. So it is more then doable to buy a car as a Pte, go for it (especially if you're getting used).

As to the type of car, I got a very normal four door car. I wanted a truck and am now regretting not getting one (although right now I'm paying far less for gas then I would have done with a truck). Most CF bases are in parts of the country with more 'extreme' weather conditions or in areas where road maintenance and plowing is hit or miss...if I could go back I'd have bought a truck or jeep. More versatile and fun.

Also, completely contrary to what others seem to be telling you, having a car in St Jean and wherever you go for the rest of your training is EXTREMELY beneficial. You can get around better on weekends (which, believe it or not, you will get at some point) which is nice when you have lots you want to do and don't want to spend much of your time waiting for a bus etc and, even better, you can drive people with you into Montreal etc and split the gas costs. If you can bring a car with you, do it. I'm going away on course again, on the other side of the country, for three months and I'll be driving myself despite the added mileage, cost and aggravation. Why? Because being car-less on any base sucks. 

 

[X-mo-1979]

My first car was a 1983 cutlass.Bought it after returning from my first tour in 2002.
paid 500 for it,2000 bucks worth of welding and 20 bucks of paint to paint the interior as a huge Newfoundland republic flag.

I couldn't afford anything as a PTE,except alcohol and fast food anyway.I was making 480 bucks a pay.However cigarettes were 5 bucks a pack and gas was in the 80's....ALL THE TIME!

I say wait till you get your training done.And buy second hand.
Never again will I buy new,it isn't worth it at all.I currently have a 2001 I bought second hand that is running great.

And if your good a good looking bay wop,the Ontario women go for your accent/think your Irish anyway...who needs a nice car?

 

[mariomike]

I might as well, belatedly, add my fleet:
My first car was a ( new ) 1973 Chrysler Newport.
My second/current car was/is, a ( new ) 1990 Buick LeSabre.
It takes a licking, but keeps on ticking.

 

[bradlupa]

As others have said, Really think about it if you really want a vehicle got to a used car lot and see if you can find a car or truck that you can pay out right. 

What i did as my wife is pregnant and has to have a vehicle, as do i so that when and if i get time off from basic i can see the baby, we went to a local used dealer and found a 2001 pontiac Aztec for 2500 as is (plus tax) it has 200 000 km but it will work for at least a couple of years and we bought a CAA membership for 60 bucks so that i know that she will be o.k. if she breaks down.

just a side note for the safety of the vehicle it needed wiper blades that was it so for 2825 and 30 for wiper blade we have a vehicle that will do plus on the upside no payments/ no chances of getting a call from creditors to the CO's office 

 

[ajp]

There is a definite benefit to having a car on course, especially when the amenities you are allowed to use a a little further away.  I always kept my personal luxuries in a couple of rubbermaid bins in my trunk, and a box of cigars under the seat.  Made for a nice getaway during the opportunities that came up.  I always had at least three guys pile in if I mentioned I was heading to town (Gagetown to Freddy).  And any time I went further to PEI or NS there were always passengers to help with the gas prices. 

My first Registered to me car was a 92 Corsica......It worked.

It Died.

I have a Mazda 3 now that I got with a significant down payment from a tour. 

My advice....Save and wait.  But I know the benefits of having a car.  I am also just starting to save money now...I am SO BAD with finances.

 

[mariomike]

Really think about it if you really want a vehicle got to a used car lot and see if you can find a car or truck that you can pay out right. 

I don't care for used car lots. They feel like adoption agencies to me. That's just a personal opinion. Best to buy from someone you know. Like a neighborhood. widow. Or, your mechanic.
Your mechanic is a special person in your life. Buddy up to him/her. If you drive for a living, the mechanics in your departmental garage are the way to go.
The 1973 Chrysler was quite a car. Back then, you didn't have to wear safety belts. I remember the salesman rolling the seat forward, rolled up the belt and stuck it in the crack to make it disappear! hahaha
It had no wind or road feel at all. Just touch the brake. Some tire squeal.  One finger on the steering wheel.

 

[bradlupa]

I don't care for used car lots. They feel like adoption agencies to me. That's just a personal opinion. Best to buy from someone you know. Like a neighborhood. widow. Or, your mechanic.

I'm not saying that you shouldn't talk to people such as a mechanic or friend, but there are good used car lots such as one where they buy from auctions only for dealers as there are some benefits for buying used. Now the reason i say a used car lot is that i find that dealers ie GM Dodge, etc over charge for the vehicles they buy.  Now there are so exceptions such as they usually have lower km's but if you just want to buy a car to get you through till you can afford a new/newer vehicle then why not.  The vehicle has to pass a safety and if your good friends with your mechanic have him check it out while you on the test drive as i did.  Food for thought 

 

[blacktriangle]

Hey Kam, are you married or common law? If you are, you won't have to pay for rations and quarters and it will give you a bit more cash. If not...

Depending on tax rates etc you can expect to clear $1400 a month for the first year, $1800 a month for the second year and about $2200 a month for the third year.