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My First Car

My story starts in May 2006 when I graduated from Cabrini College.
I had decided as a graduation present to myself that I was
going to buy a brand new car and I did not
care what the cost. Well, this is where my mistake began...

The car I wanted more than anything was the Madza3 sport. It
was the car I had been dreaming about. I loved the way
it looked. It was small and sporty and I thought it just
matched my personality perfectly! I took the car for a test drive
and my mind was made up, this was the car I had to have.

When I sat down to take a look at my finances I
thought I was in great shape, however, I neglected to look at
the long run when I had to start to pay my student
loans and other essentials. When I went to the car dealership to
buy my car, I found that I needed my brother to co-sign
my loan because I did not have any credit. After all was
said and done, my car payment was a little over $400.00 a
month plus insurance but I had my Madza and that was all
that mattered to me.

About six months down the line, I began to see how foolish
I was to buy a brand new car right out of college.
I began to struggle to pay the car payment and all of
the other bills and loans that I was acquiring. I also did
not take into account that teaching can be an expensive job. I
lived from paycheck to paycheck for about a year until I decided
I had to do something about it.

My solution?

I ending up having to trade my car in so that I
could own a car that I could afford. This time around, I
made sure to sit down ahead of time and figure out what
was a car payment that I could afford. Next, I looked up
my car's trade in price. I then began to look for cars
that were in my price range and had the necessities I needed.

So what was the new car? I decided on a 2008 Honda Fit.
This car was affordable, met my needs, and the insurance was in my
budget. For the past 2 years I had been driving my Honda Fit
and it has treated me well.

Please take my struggles into consideration when buying your first car.
Try to learn from my mistakes and be sure to
do your homework!

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