im 19 years old and i am about ready to buy a used car. The car that I want is $6,000. Im only working part time with a minimum wage job($8 hour). Where do i get started?
2007-09-11 15:19:19 · 6 answers · asked by ? 2 in Cars & Transportation ➔ Buying & Selling
Decide if you can afford a $6,000 car, first. Make a list of all the things the car will cost. Gasoline, insurance, vehicle registration, tires, oil-changes, tune-up & maintenance, and car payments. Seperate your monthly costs from your once-a-year cost. Then, subtract these cost from your wages each month. How much is left for your personal life? This will give you an idea if you are working for the car or if the car is working for you. The car should work for you by getting you to work where you earn enough to pay for the car and have extra money left over for your cell phone, dinner and a movie or a road trip.
2007-09-11 17:46:49 · answer #1 · answered by Don C 1 · 0⤊ 0⤋
Well, I am certain we each recognize the ancient announcing that money talks and all of the relaxation walks. for a used auto for reliability, non-home, this might be fingers down toyota or honda. But is paying the top class for a sixteen y.o. boy valued at the dividends. This is all too based at the manner he drives and cares for, or abuses, his journey. Personally, I'd positioned him an older Caprice or Crown Vic for quite a lot of explanations, and allow him fear approximately the gas invoice. Teaches responsibilty, exceptionally with cash. However, if he's recognized to be the exception to the guideline, and wont bend to see strain, then the common plan of Honda or Toyota makes ultimate feel, as they're going to keep abit in their importance if cared for and will have to be effortless to promote while it's time to improve. By the best way, a carfax is constantly a well notion on any used auto, except its just a few ancient $two hundred door slammer, now not what you indicated as watching for.
2016-09-05 10:59:16 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Since you are buying used and dont have a lot to spend look for either something really good at the 6k range or something in the middle that is realiable for 3k... then keep the extra money in savings for future unexpected repairs. have a parent go see the car since they will give you better advice than a friend of the same age. Do some research on vehicle like on edmunds.com and view the consumer reviews it might give you some insight to unforseen problems.
2007-09-11 15:28:25 · answer #3 · answered by henrysol 4 · 0⤊ 0⤋
At your age, you have no credit rating probably, so figure a high down payment, then a high interest rate. Equals high monthly payments. Don't forget insurance costs and general maintenance. At your wage, it is going to be tight but you can do it as long as you stay out of trouble and not get a bunch of tickets to jack up your insurance. Good luck. Stay away from the buy here, pay here lots.
2007-09-11 15:28:02 · answer #4 · answered by Ron G 5 · 0⤊ 0⤋
Find someone who's willing to co-sign for a loan, then make sure you do a good job wherever you work so you can keep up the payments.
he worst thing you can do to someone who puts their trust in you and co-signs is to burn them - my niece did that to me, and I had to pay off the car, then setup a payment plan for her to pay me back. Fortunately she did, but not before ruining her credit and placing a dark spot on mine.
2007-09-11 15:29:50 · answer #5 · answered by HyperDog 7 · 0⤊ 0⤋
car loan from your bank if possible
and get it over like 36 months so its lower payments
but try to avoid getting financing through the dealer because they'll try to make the most profit they can
2007-09-11 15:28:04 · answer #6 · answered by Anonymous · 0⤊ 0⤋