SO CONFUSED HELP!!!!!! SHOULD I TAKE OUT A LOAN FOR A CAR??? COULD I POSSIBLY

  • Thread starter Thread starter Jan E
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Jan E

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To be honest, I don't think you can find a good, dependable car for under $2000.

I loan might be difficult to obtain right now, especially with the economy in the shape it is in, but you might try to do the following.

Look for a good dependable car. Here in Texas you can find them priced anywhere from $5000 to $7000. Get the paper work on the car, year, make, model, mileage, warranty, and price and take it to a bank. Ask to speak to a loan officer. Tell the loan officer what you want and why you want it. Explain your life situation and state firmly, but politely you absolutely need a car in order to better your life. Also, have a reasonable and well thought out plan for making the monthly payments on this loan and be able to prove where this money will come from. If you are truly as responsible as you sound, I think you have a pretty good chance of obtaining a loan for a car. Good luck to you.
 
GET A DECENT CAR FOR $2000? im 17 years old, and because of the financial situation im in im attending county college next year.
the college is about 30 minutes away, so im going to need to buy a car to commute to and from class.
my mother is basically broke, so she cant help me out with buying the car, so my ABSOLUTE max i can spend is $2,000
ive been looking around everywhere, and have found some decent cars.
but my mother just said that she thinks it would be a good idea to take out a loan, and buy a better car.
she thinks all im going to find are 'hunks of junk'
ive found not so bad deals (98 honda, 98K miles, for $1000) (dodge neon, 82K miles, $1200) which makes me think i wont be buying just a piece of cr*p

BUT heres the problems with loans...
to qualify for a loan, i have to have a full time job.
i couldnt be full time until summer, where i would need the car to get to that full time job, therefore id need the car FIRST
also, im going to be a full time student, i dont think i can deal with being full time student and have a full time job
after attending county do want to attend a 4 year college, and i know financial aide is nottt going to cover the full tuition to attend there, so ill have to take out loans for that.
i know more money equals a better car, but i really dont want to have to start owing money NOW when ill have to also owe later in life!

my questions are...
do you think i can find a decent car, that wont need expensive work on it, and wont cr*p out on me in the next 2 years, for under $2000???
should i just listen to my mom, and take out the loan???

honestly any help would be great! im so confused as to what to do!!!
 
Maybe you could try to take out a student loan for the car. You wouldn't have to pay it back until six months after you graduate. The honda for $1000 seems like a great deal. I have a 1996 buick skylark custom with 119000 miles that is super clean and a great runner I'd sell you for 1700.
 
Buy the Honda, put another $1000 on new tires, battery etc...do NOT take out a loan, would be very bad idea with no income, insurance and gas will take what you make.
 
Id say your mom is right.. you might find a car for under $2k that seems fine.. but it wont be.. you pay for what you get and $2k is really cheap and would most likely break down pretty quick..you would end up putting more money into the car then it is worth just to get your self around.. maybe $50 here or $75 there... but it will add up.. its just not a good idea..
 
NO taking out a loan for a car is a very bad idea!!!
Car's loose value so so quickly it is really not worth it!
 
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