I bought my accord and love paying for it, my mom bought my first car for me and payed insurance on it, it was a 1992 chevy beretta gt back in 1998 I just got my accord in May and then modded the shit out of it, all out of my own bank account, it makes me appreciate my car a hell of alot more that is for sure!
I also pay GAP insurance added to mine which is like $15 more to cover my mods incase i get in a wreck or something.
As long as you appreciate the free ride and don't treat it like shit i see no probs, i had to run alot of errands for my mom though when she bought my first car for me, i had no probs with it though.