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Wagon update: $750 to savings plus my first new car

August 6th, 2010 at 08:14 am

Today, we managed to put $750 from the paycheck, some freelance work, and ironically the check the junkyard gave me for my dead car, into savings. So yay! It's a step in the right direction.

I cut my savings goal in half for the year, to $6,000, to reflect recent events, namely hubby giving the $5,000 we had already saved to a friend in a fix. I'm trying to just forget all about that. Otherwise, we would have been on track to save $12,000 this year. But now, there's no way I can save that much by the end of the year.

We bought my first new car ever last night-- Honda Fit. It's my first new car and my first car note. Of course, we used the super cheap 0.9 percent dealer financing, for 60 months, but will certainly be paying it off early. The goal is to have it paid off in 24-36 months.

Some have wondered why we didn't buy used. Normally, I would. But, we drive cars until they die and we needed to have at least one sure bet, perfect safe vehicle to get the kids around town. Plus, the used Fits cost about what we paid new. With no other debt-- including mortgage, we thought it was safe to take on a car note. It will be about $200 a month.

6 Responses to “Wagon update: $750 to savings plus my first new car”

  1. Ima saver Says:

    Congratulations on your first new car. I am a little different from most on this forum, we always buy a brand new car. My husband's motto is, "life is too short to drive an ugly car"

  2. NJDebbie Says:

    My son drives a 2008 Honda Fit (we bought it new)and he loves it. You get great gas mileage.

  3. MomEsq Says:

    I bought my first new car this year too! With the financing and the cash back offers, it was the same price as a used car and we liked the fact that we'd have the full warranty as well as the most up to date safety features and better gas mileage. The Fit looks cute!! Enjoy it!

  4. HouseHopeful Says:

    I just bought my first real new car last month! A friend has the fit & loves it. Congrats

  5. M E 2 Says:


    New car and pretty car aren't mutually exclusive.

    A new car can be ugly and an older/car can be gorgeous.

  6. Ima saver Says:

    I agree, M E 2. we have a 1933 ford victoria and I think it is beautiful. However, we like the looks of corvettes and that is what we both drive. My husband has a yellow one (2008) and I drive the new red one.

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