How I did it: Well i got a good job and didnt have much debt at the time. I immediately paid off any debt i had and began researching cars. I figured out a specific group of vehicles and price ranges i was looking at. however i knew at the time i didnt have the cash for these and i really didnt want to finance a car 100%. So i saved $1000 dollars a month for 11 months. At this point i couldnt wait any longer so i found a good car and worked out a deal.....put $10k down.

Lessons & tips: Honestly, if your goal is to get a brand new or barely used car, your money is better off staying in your savings account. I heard it plenty of times and you will too but newer cars just depreciate sooo much so quick. Keep the money for a down on a house or a business investment. MAKE THE MONEY WORK FOR YOU and soon enough youll be all to buy a new car with cash.

research heavily before making any purchase, take someone with you that has experience, if you are financing some of the car and dont have good credit  try and get a co-signer (but be responsible and be on-time).

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Sep 03, 2009, 03:38PM PDT | 1 comment | 2 cheers