Need a 4 door car

[the.gladiator1987]

Ok guys quick questio. If I sell my car, prob for around 2,000, would it better for me to:

A) Buy a used 4 door car
B) Put 2000-3000 down on a newer car. My credit score is 580 so its not good, but with my new jobs I can afford the payments. Especially if its a cheap car, but better than a 2k-3k car.

What would be better? Ive never had a nice reliable newer car, so it would be nice. Either way I need a 4 door car for the baba

 

[redshirt27se]

i'd look at a smaller SUV, maybe a subaru outback or something similar. as the kid gets old you're probably going to need more and more room. maybe even an old beater station wagon if you can't afford much more.

 

[EnderJE]

Never buy new. Take a look at the depreciation the moment that it leaves the lot.

 

[digimon7068]

i'd look at a smaller SUV, maybe a subaru outback or something similar. as the kid gets old you're probably going to need more and more room. maybe even an old beater station wagon if you can't afford much more.

M-I-N-I-V-A-N

 

[digimon7068]

Never buy new. Take a look at the depreciation the moment that it leaves the lot.

i generally put 150,000 to 200,000 on a car before i get rid of it...i like new stuff...most of the things that are gonna go wrong with a vehicle happen during the life of the factory warranty...and, i never buy before june of the model year so, i don't pay top dollar.

 

[the.gladiator1987]

I wouldnt buy new, cant afford it and it would be the worst investment I could make in my situation

Im thinking of a smaller SUV or a 4 door honda or camry

 

[digimon7068]

I wouldnt buy new, cant afford it and it would be the worst investment I could make in my situation

Im thinking of a smaller SUV or a 4 door honda or camry

i know...my comment was directed at ender.

my recommendation? honda accord...best car i ever owned...bar none...my dad is still driving mine, it has 275,000+ miles on it and it still doesn't burn any oil. find a decent used one with 100,000 on it...just make sure the timing belt was changed (they're required every 90,000, i think) and, if not, get it changed...you ought to be able to find one in your price range.

 

[the_alcatraz]

I just bought a 2011 Honda Civic EX-L

It's a great car.

 

[miplank]

Couple things...


Just because you can afford the payments doesn't mean you'll qualify for a loan. With a 580 Fico your shit is beat up and it's going to be rough getting you into an auto. Not saying that it's not possible but you're going to:

a.) over pay for the car and
b.) pay crazy interest

I can't remember that state limit in cali, but I believe it's 24 or 27%. Expect to pay that in interest and then probably somewhere in the neighborhood of 200% of wholesale.

 

[digimon7068]

Couple things...


Just because you can afford the payments doesn't mean you'll qualify for a loan. With a 580 Fico your shit is beat up and it's going to be rough getting you into an auto. Not saying that it's not possible but you're going to:

a.) over pay for the car and
b.) pay crazy interest

I can't remember that state limit in cali, but I believe it's 24 or 27%. Expect to pay that in interest and then probably somewhere in the neighborhood of 200% of wholesale.

this is true...access to credit (even for people with good numbers) has been significantly hamstrung by the changes (i.e., tightening) in lending terms that were put in place after the financial meltdown.

 

[the.gladiator1987]

Couple things...


Just because you can afford the payments doesn't mean you'll qualify for a loan. With a 580 Fico your shit is beat up and it's going to be rough getting you into an auto. Not saying that it's not possible but you're going to:

a.) over pay for the car and
b.) pay crazy interest

I can't remember that state limit in cali, but I believe it's 24 or 27%. Expect to pay that in interest and then probably somewhere in the neighborhood of 200% of wholesale.

Yea very true.. this is what I DONT want to do. Maybe a better optio is to buy a used car, wait a year until my score gets in the 600's, and then apply for a newer car.

We do have some connections to some owner of a dealership..Ill see what he could do and see if it would be worth it. If not, then Im sticking to getting a used car on CL for now. I can still find a good car for 3000 on CL that will be reliable.

 

[miplank]

this is true...access to credit (even for people with good numbers) has been significantly hamstrung by the changes (i.e., tightening) in lending terms that were put in place after the financial meltdown.

Not really anymore...


Banks are loaning like crazy to people with Good/Decent Credit or at the very least good reestablishment after BK or any other Derog.

The key is to find the bank that has the money they have to get out on the street. I had a lady yesterday that got a 19.5% buy rate from one lender and a 6.09% buy rate from another with a 671 on her highest bureau.

*disclaimer* I'm speaking strictly in terms of the auto industry and not the mortgage.

 

[-SD-]

Buy used honda/toyota/nissan
Now is NOT the time to go into debt.

 

[the.gladiator1987]

Buy used honda/toyota/nissan
Now is NOT the time to go into debt.

thanks bor. You are right. Somehow Im gonna have to figure out how Im gonna get 2 cars. My girl needs one - she will prob need a mini suv with decentg as mileage, and Ill get a little honda or camry with super good gas mileage. 4 door as well.

Im NOT selling my silver for a car - id rather walk to work and play with my silver quarters on the way

 

[iggy]

92 dodge caravan ftw

 

[miplank]

With what you can afford there will be no suvs that get decent mileage.


The best thing you can do is keep driving what you are. While it might be a pita to get your kiddo in the back of a 2 door for now it gets the job done. Keep saving your cash and when you get enough go pay cash for a reasonable 4 door car. That way you won't get killed with over paying and high interest.

 

[HAYEZ]

save ur money and drive the 2 door...blowing loot to be less of a hassle is a waste..580 credit score for a 12,000 loan your gonna pay around 420 a month for a shitty 10k car

 

[PICK3]

ololololostr8! @ the standard EF answer "buy a Toyota or Honda" clean with low miles for $3k

 

[-SD-]

Your income streams are not secure enough to sustain a high interest auto loan all while having a baby/mama to care for

 

[digimon7068]

ololololostr8! @ the standard EF answer "buy a Toyota or Honda" clean with low miles for $3k

not really...a 10-yr old clean accord with 120,000+ will probably still run you 5g's...but, you can put another 120,000 on it.