Vroom!

[danalwyn]

Also, I now have a car, despite the Dealership's last ditch attempt not to sell it to me.

Everyone on the internet lined up on the side of the Corolla. Unfortunately, everyone in real life lined up on the side of the Civic, and liking the Civic's handling slightly better, I went with it. So now I have a silver Civic.

I did not, however, qualify for financing (credit history not long enough for the financing department), which means that I had to buy it outright which, when combined with my IRA payment, has decreased my financial reserves significantly. I've got to do something about that credit history problem.

This is causing me significant distress since A) I normally never spend money if I can avoid it, and B) a significant chunk of my net wealth is now caught up in a very vulnerable piece of machinery. I really should avoid all this buying things stuff in the future. It just makes me nervous, which is the state in which I've been spending the last day or so. Plus, I keep wondering if I could have gotten a better deal. Obviously, I need to get hit on the head and contract amnesia for a bit. It will probably make me happier.

Comments

[silverjackal.livejournal.com]

Congratulations on the car! May it serve you well for many years.

I've got to do something about that credit history problem.

Do you have a credit card? If you don't get one of the no annual fee ones, use it regularly for small purchases such as groceries, and pay it off every month so that you never carry a balance/incur fees. This was the way I built up my credit rating prior to buying a house, because I had no other financing in my history (having paid for things out of pocket, including my first (used) car).

I really should avoid all this buying things stuff in the future. It just makes me nervous

Heh. You're not alone in this, believe me. I think it took me a year or so to be accustomed to the debt when I took out my first mortgage. For someone who had no debt prior, suddenly being in for more than 100,000 was a purpetual source of anxiety until I became accustomed to it. Unfortunately unless one pursues a career with an astronomical pay scale, or comes from considerable money, there's no way around basic aquisitions. Personal vehicles are unfortunately *necessary* in much of North America (I literally couldn't get to work without mine -- no public transit to speak of). Likewise it doesn't make sense to pay rent if one can own one's own home (assuming moving isn't in the near future).

Try not to second guess yourself, because this wasn't a wrong choice even if you didn't get the "best" possible deal. You have insurance for if something unfortunate should occur, and the rest will take care of itself with time.

[peribothron.livejournal.com]

I know it's after the fact, but did you look at getting financing from a Credit union? If you're still in CA, you could probably get a CEFCU loan (they won't do out of state cars).
In the long run, you will save money by buying it outright.
Ditto silverjackal, but you can also get cashback on everything, which nets you money, as long as you don't carry a balance from month to month. just make sure you get a no-fee card, like discover, amex or citi. You may start with a low limit, but it will build as you pay it off month by month.