We bought our little 2006 Pontiac Wave (sold as the Chevy Aveo in the U.S.) in June of 2006. At the time, I was working as a lease return inspector for GMAC. It was a contract position where I had to use my own vehicle to do the job, and when GM offered us a fantastic deal on a new car at $500 over dealer cost, with zero percent financing over 4 years, we took them up on it.
We had them find us the car we wanted and it was shipped to us from another dealer. We weren't fussy on colour, so long as it wasn't yellow! And I was specific about three things...I didn't want air conditioning, but it had to have a standard transmission, and it must have cruise control. This is an odd option package, but they found us what we wanted, with the bonus that it had power windows and remote power locks as well.
Car payments over 4 years were $145.47 every two weeks, so approximately $300 per month. But we get an added bonus that we no longer have to pay as well.
When you have a car loan, the lender requires that you carry at fault collision insurance on the car. But now that it is paid off, we no longer have to have that if we don't want it. The car now has 138,000 kms (86,000 miles) on it, and although it's in fantastic condition, it's only worth about $4,500 now. If we remove that part of the coverage, I'm thinking we can save almost $50 per month, but I have yet to ask my broker about that. And, we'll shop around for a better price anyhow. Currently paying $98 per month for insurance, and I think that's way too much.
Our little car back in June 2006 when it was brand new!
It's been a great car. Other than change the oil, and replace tires, there was one little problem with the cruise control release switch on the clutch pedal, and I've had one wheel bearing replaced. That's pretty good!
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