Meet My Boyfriend of 3 Years (It’s Serious)

March 28, 2012

2009 Kia Rio5

Everyone, this is Bandit. He’s a 2009 Kia Rio5 and, despite my dad (and most men) hating his maker, I love him! (See, he really is a bandit! But that’s not where his name came from…)

In March 2009, I was in the middle of the biggest spending spree of my life. You know the one I’m talking about. Remember when I moved into my own place, bought all new furniture, went on a couple trips and put everything on credit? Yea, that spending spree. Well, right in the middle of it, I decided it was time to buy a car.

At that point, I had been without a car for just over 2 years. Roxy, the 1991 Hyundai Excel I learned how to drive on, died in my college’s parking lot and I couldn’t afford to fix her for the umpteenth time. So I became a girl who took the bus. I took 2 busses to school, 1 bus to work after school and 2 busses home from work. It’s safe to say I spent at least 90 mins. on the bus everyday.

In March 2009, I reached a point where I just couldn’t take the bus anymore. Call me spoiled but the freedom that comes with having your own car does, in fact, have a price. After a month of researching and test driving, my price was $17,764.60 (interest and taxes included). And it’s been worth every penny.

Sure, I probably could have spent between $5-10,000 for something used. But at what extra price? Would it breakdown? Need any parts replaced? Leak oil? Need constant trips to the mechanic? No thanks. I am reminded of why buying a new car was the smartest decision for me, on an almost daily basis. Here’s why:

1. The Price

After putting $2,500 down, I financed $15,264.60 over 5 years. And that includes the 1.9% interest rate which totalled only $709 over the term of the loan. If I had bought a used vehicle, I still would have had to finance and at a much higher interest rate. This way, I make payments of $117.42 bi-weekly, so it continues to stay affordable. Yes, that means I’ll be making payments for another 2 years, but I’m happy to pay that small bit of interest for minimal stress.

2. The Gas Mileage

I have learned with this car that what it says on the sticker is a lie… but I do get great gas mileage out of Bandit. We’ve driven up our mountainous island and back (400+ km) for less than $30. I remember paying $35+ for 250 km’s in old Roxy. Oh, Roxy…

3. The Maintenance Fees

I don’t know what other dealerships charge for oil changes, fluid changes, tire rotations, etc. but it feels like I’ve been getting it done for free. Ok, not seriously. But in 3 years, I’ve only paid about $225 for 4 visits to the shop. Who can argue with that!?

4. The Warranty

Kia offered the best warranty of all the dealerships I shopped around at. I have 5 years of coverage on basically every part of the car, up to 100,000 km (60,000 miles). Today is our 3 year anniversary and I’ve only put on 32,000 km (19,880 miles), so I don’t think I have anything to worry about there. Oh, and I’ve had to use the warranty once, to get new door handles. I’m sure they wouldn’t have been expensive but it was nice to get them put on hassle free.

5. The Security

Oh my goodness, why did I save the worst for last? I am a huge dork and thought about a lot of things when I purchased this car: airbags and how easy it would be to get a child in and out of a car seat included. Clearly I’m nowhere near that stage in my life but I knew whatever car I bought would be mine for a long, long time.

My mom bought Roxy brand new in 1991. Despite not working for a couple years, my dad eventually fixed her up and drives her all over town now. She’s 21 years old and still zips around like she’s 5. On top of being one of the top rated cars that year, I bought a Kia because it’s owned by Hyundai. And if my mom can get 21 years out of Roxy, I am positive I can get at least 15 out of Bandit.

So, there you have it. I bought a brand new car in 2009 and don’t regret anything about making that decision. And if I ever did regret it, I’m sure the heated seats would try to change my mind again.

Oh wait. You want to know how Bandit got his name? I think it’s one of those you-had-to-be-there moments… One of my girlfriends and I went up to Courtenay, B.C. for a weekend, to visit a friend. On the Saturday morning, we decided to go snowboarding. We drove my car to the ski hill’s bus stop and left it in a random parking lot. Probably still out of it from the night before, I said, “Car, if you can fight off parking tickets and tow trucks, and be here for when we get back, your name will be Bandit.”

Needless to say, we found him in one piece.

  • Bruce Bucks (@BruceBucks) March 28, 2012 at 7:32 am

    Awesome Post! How much do you own on your car? What are you monthly payments? sounds like you got an awesome deal.

    • Cait March 28, 2012 at 12:32 pm

      I owe about $6,050 right now and am paying $117.42 bi-weekly. :)

  • Financial Confessions of a Former Brat March 28, 2012 at 8:47 am

    If I could find an interest rate that low, I’d buy it too.

    • Cait March 28, 2012 at 12:33 pm

      Yea, the interest rate was another selling point, for me.

  • shopping2saving March 28, 2012 at 9:04 am

    Cute car! I don’t know what men have against KIA but they are so adorable. (maybe that’s it?) haha. I gotta chime in and agree with you on loving your car, cuz I love mine too. Although it’s nothing glamorous, a toyota corolla saves so much gas and I love the freedom of having a car! I’m not gonna lie, when I saw this post I was really thinking that this would be a lovey dovey post about a boyfriend!

    • Cait March 28, 2012 at 12:34 pm

      Bahaha… I’m about as single as it gets, girl! But nice to see we both love our cars for the same reason… freedom!

  • ImpulseSave March 28, 2012 at 9:09 am

    I loved this! There is such a strong connection between a girl and her car. I have a 21-year-old Toyota Corolla named Turk and I can’t even think about the day when I’ll have to replace him. What a dear, wonderful car! I got him used, but as far as your “new” purchase is concerned, I think those are all great reasons to go brand-new. Another reason for me would be customization: depending on your budget, you can pick all the little features you would like that you can’t chose in many used cars. For brand-new models with so many extra features to consider – satellite radio, heated seats, GPS navigation, bluetooth – I think that is one great reason to consider buying a brand-new car.

    • Cait March 28, 2012 at 12:41 pm

      You have a car named Turk!? Girl, we gotta talk. That’s what my parents call one of my best guy friends and I’ve never heard anyone else say it before, haha.

  • Sonya March 28, 2012 at 9:39 am

    Can I ask what your credit situation was like when you got the car loan? Like good, mid, bad? Feel totally free to say NYOB but right now I am kind of desperate for a car and can’t find anyone to finance me!

    OK sorry for the random comment but it struck me while reading your post :)

    • Cait March 28, 2012 at 12:42 pm

      Hey Sonya,

      Despite at one point having a lot of debt, I’ve always had pretty good credit. I think my score was around 740, when I financed my car.

      Hope that helps!

      • Sonya April 2, 2012 at 9:23 am

        thanks for responding!

  • MommaStar March 28, 2012 at 9:54 am

    Love the name Bandit for the car.

    My husband and I have named every car we’ve owned even before we met each other.

    Great post.

    • Cait March 28, 2012 at 12:42 pm

      What have some of your car’s names been? :)

  • Cassie March 28, 2012 at 10:56 am

    That’s absolutely hilarious how you named your car. Too cute.

    • Cait March 28, 2012 at 12:43 pm

      Haha, yea… I’m kinda weird!

  • belowhermeans March 28, 2012 at 11:16 am

    M. and I are car shopping and I keep going back to Kia! Glad to read this.

    • Cait March 28, 2012 at 12:44 pm

      Nice! Melissa at just bought one too and I know she’s happy with her decision. Good luck car shopping!

  • Mo' Money Mo' Houses (@momoneymohouses) March 28, 2012 at 1:21 pm

    Good on you! I was considering buying a car a while ago but so far I’ve been getting around fine by bus, but that’s because my work is 10 min. from my house. If I were to live a bit farther away I’d probably buy a car. Though I’m a bit spoiled, my BF has a car so when I need a vehicle he helps me out.

    • Cait March 28, 2012 at 3:29 pm

      My ex had a car too, when I didn’t. It definitely helped me out a few times ;)

  • centsofacountrygirl March 28, 2012 at 6:11 pm

    I get’cha. I love my car too. I bought my little zoom-zoom new as well, and I really don’t regret it. I bought it in 2009 and managed to pay it all off last year. I would be a long time getting anywhere if I didn’t have my car, I really depend on it, so I’m glad I bought a new, dependable sort of car.

    • Cait March 29, 2012 at 5:41 pm

      Wow, you paid it off fast! Good for you!

  • Well Heeled Blog March 28, 2012 at 7:04 pm

    Nice! I really like the way Kias and Scions are styled (and VWs, but those are much more expensive). Maybe for my next car…

    • Cait March 29, 2012 at 5:42 pm

      I would’ve loved a VW but they are really expensive to both buy and fix. Not worth it, in my opinion.

  • Laura March 29, 2012 at 4:28 am

    Great post!! When I bought my car new I received so many unwanted comments about buying a new car. For all the reasons you listed in your post I think buying new was the best option for me!! My car’s name is Monique, she’s a red Mazada 3 and a bit sassy hence the name :)

    • Cait March 29, 2012 at 5:42 pm

      Monique! Love it, haha.

  • Jordann March 29, 2012 at 5:05 am

    Totally agree! Though I bought my car used (4 years old, 49,000km on her), it’s a VW golf so I couldn’t have afforded new, but wanted the quality VW offers. The interest rate and price was just right, and I plan on keeping her forever. Love that car! Plus it’s a hatchback, so it’ll suit my needs for years and years to come.

    • Cait March 29, 2012 at 5:43 pm

      It’s so hard to buy a new VW, eh? Nice you found a used one that didn’t have much mileage. :)

      • Jordann March 30, 2012 at 3:41 am

        Definitely, they are expensive! But they hold value well, I would definitely buy another one, used of course.

  • Melissa March 29, 2012 at 7:51 am

    Bandit!!!! <3<3<3

    • Cait March 29, 2012 at 5:42 pm

      Leo the Rio is better! :P

  • Captain Sweatpants March 29, 2012 at 4:37 pm

    Ummm… I have a question… Why do girls name their cars?? (every girl I know has some sort of nickname for their wheels, every guy I know does not) I mean I love cars, and when I had a car, I adored zooming around in it, but I never wanted to name it… This is one of those girl things I won’t get isn’t it?

    • Cait March 29, 2012 at 5:44 pm

      I wish I had an explanation… but I don’t!

  • Pamela @ March 30, 2012 at 6:57 am

    I love the story of how you named Bandit – very cute! When I was shopping for my 1st car I considered buying used, but I’m glad I went new (Honda Civic). By doing regular maintenance on it, I’ve managed to hold on to it for almost 10 years now!

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