So I'm looking in to buying a vehicle for the first time

[Slydragon]

I just want something nice that works.

This is my first time so I'm lost and kinda not wanting to do it. I hate hassling over crap and on top of that my credit is shot, It was ok up until 7 years ago when my daughters mom up and left and left me with my girl when she was 3 months so I had to adjust from 2 incomes to just mine for rent and everything else and my credit went to because I could only really afford basic stuff.

So I would bus it with her everywhere, I put her in a sling(yea I know I look gay, but it was easy that way damn it) and put my headphones on and off we go. I would go to work on the bus and my mom would pick her up from there because she live close to the store.

Then I moved back home when she was 2 years because the apartment went to under new management, 2 weeks after I left a dead body was found there over drugs. Also my grandma was dying and my mom needed help.

We been sharing a car and it work for awhile but now I need a car of my own. So I got 3500.00 saved up and I don't mind paying for a older car straight up cash. I seen some on auto trader/craigslist but what else is there to pay? I know you pay to change the le and crap like that (what else/how much?)

With my crappy credit should I just look at private sellers and not even bother with dealers? I'm really clueless/lost on this. I have had the cash for awhile now but I been putting it off. I tried about a year ago and got burnt because the dealer said it was a done deal, to get insurance and bring it back. I go back and he pulls the bank wants more down. So I did not get it and I had just paid almost 200.00 on insurance that was canceled and I only got half of it back so that turned me off and I waited a year till I had a bit more cash.

[balli]

With my crappy credit should I just look at private sellers and not even bother with dealers?

I don't know how much the current economy has frozen up auto lending for poor credit customers, but typically, buying a car on credit is one of the best things you can do to restore your rating. If you can get a loan, could get a co-signer to bring your rates down and you have a steady job, I'd put that $3500 down on a cheaper car (like 7000) and pay off the rest in monthly installments. I don't think it matters if you get the loan through a bank or the dealership, but with the economy right now, well financed dealerships might be more willing to take the risk on lending you the cash.

Oh... and my 2 cents- get a bike.

[Slydragon]

Oh... and my 2 cents- get a bike.

With a car seat in back for my daughter.

[PM5K]

I was a little confused before I read this thread because I'd seen you in a car before, but now that I've read it I understand.

Props to you for doing whatever you have to do to take care of your daughter.

As for your question, remember your daughter when buying a vehicle, you want something safe and reliable to transport her in.

If it was me I'd want to have more than 3500.00, but you'll probably get something better than what you are already driving.

Are you getting an income tax return, or is that the money you already have?

As for costs: I can't give you an exact idea but your insurance may go up, you'll also have to pay tax and registration. You may or may not have to get a new inspection, it depends on how much time is left on the current.

Also, often when people get to selling their vehicle sometimes they put off some maintenance items since they are getting rid of it so you might have to get the oil changed, or the serpentine belt, things like that.

With 3500 and ty credit Craigslist is going to be your best bet. I'm no expert but you'll probably want to set aside 250.00 for the taxes, etc so that leaves you with 3250.00 to buy a car. (Registration on my vehicle runs 55.00 but on a car it might be less, and tax on a car sale is 6.25%) You can actually call a le transfer place and they can let you know about how much it would cost on a 3K dollar vehicle.

Also: If you ed up your credit seven years ago it should be fine now, most accounts will come off after seven years, but that depends on what exactly you mean when you say that your credit is shot.

Good luck, I'm also in the process of getting a new vehicle, not my first, but something new so it's time to sell the old one.

Also: I was just looking at the buyers order from my last vehicle, it was bought from a dealer, not a private sale so if you buy on Craigslist or something you probably won't have to pay all of this, and a lot of it is probably BS that they put, like undercoating or key fees (If you watch Seinfeld you know what I mean), any way here is the fees they charged me:

MISC County Fees
Administrative Fee
DOC Stamps
State Inspection
TAG And le
Sales Tax

Also, I know a guy that can do an inspection for you if you'd like, last time I checked he charges 100.00, he's inspected the last two vehicles I've bought.

[PM5K]

With a car seat in back for my daughter.

[Slydragon]

No my income tax is going to house taxes this year. My mom is a house wife, which is great because she picks up my daughter from school and watches her while I work so my dad is the only working person and he just barely makes it also so I'm helping there because they help me so much threw out the years.

[Slydragon]

Can that be stackable in case she invites some friends to come along to the park also.

[PM5K]

Well you can certainly still get something decent with 3500.00

[PM5K]

Can that be stackable in case she invites some friends to come along to the park also.

I'd just buy her and her friends bikes too, you can get bikes for everybody for cheap from Walmart...

[Slydragon]

So say I get a car from craigslist and I see it and like it, How would it work? Do I pay the guy and he hands over the keys/ le or is there more paper work first then I head over to the le office?

[PM5K]

Used car sales are typically as-is, you'd really want to get a third party inspection because if the whole thing falls apart and you wind up with a 4K dollar bill from the mechanic you're out of luck.

I can't say exactly how it goes but when I bought a car from a private party I had a mechanic check it out, then we went to the le place where he signed the le over, I paid him, then I paid the le place the taxes and registration fees.

I probably wouldn't want to do it any other way, that's really how it should be done, the only thing I don't know about specifically is what should happen with the plates, when I bought that one I kept the plates and I never got new ones.

[JohnnySixString]

Used car sales are typically as-is, you'd really want to get a third party inspection because if the whole thing falls apart and you wind up with a 4K dollar bill from the mechanic you're out of luck.

I can't say exactly how it goes but when I bought a car from a private party I had a mechanic check it out, then we went to the le place where he signed the le over, I paid him, then I paid the le place the taxes and registration fees.

I probably wouldn't want to do it any other way, that's really how it should be done, the only thing I don't know about specifically is what should happen with the plates, when I bought that one I kept the plates and I never got new ones.

Most definitely get a third party inspection. I used lemonbusters quite a few years ago and the guy came out to the truck. It was just over $100 and he did a thorough job checking everything. You can get a local mechanic shop to do it cheaper, just make sure they're ASE certified. And don't forget you'll need insurance, so set some cash aside for that. Car loans are great for building credit, but they are also fabulous at destroying it should anything happen. If you have stable work and can handle the payments though, you could look at something in the $6-7000 range so you could put down half and pay it off easier. And build your credit up that much quicker too. If you don't want a payment over your head right now, you can still find plenty of good used cars in your price range. Craigslist is a start, but autotrader.com and others have cars in the $3000 range too. And lots of dealers have decent cars in your price range and you can haggle them down easier than a private seller. In any case, like PM5K stated, get a third party inspection.

As far as le and stuff goes, when you buy from a private seller all they have to do is sign the back of the le and the tansfer form from the county, which you can print off the net. You then take the le and the form to the tax collector office and pay for the tax, le transfer fee and registration if necessary. Find out when the plates expire when you transfer the le and registration. I once helped a guy con a crackhead out of his car. He showed up with the guy's le that he had signed in order to be advanced some crack. I printed up the form and told him all he had to do was get the seller's signature on it. It's amazing what a crackhead will sign in order to get that rock! Later that same day, he had a $3000 car for about $100 worth of crack. And I didn't feel the least bit bad about the cops ordering the crackhead to surrender the car keys, because he was an asshole neighbor,lol. I'm not telling the story for you to find a crackhead to con (but hey, ya never know), but that's how I find out that's all you need to transfer a le with a private "seller".

[Blake]

I just want something nice that works.

This is my first time so I'm lost and kinda not wanting to do it. I hate hassling over crap and on top of that my credit is shot, It was ok up until 7 years ago when my daughters mom up and left and left me with my girl when she was 3 months so I had to adjust from 2 incomes to just mine for rent and everything else and my credit went to because I could only really afford basic stuff.

So I would bus it with her everywhere, I put her in a sling(yea I know I look gay, but it was easy that way damn it) and put my headphones on and off we go. I would go to work on the bus and my mom would pick her up from there because she live close to the store.

Then I moved back home when she was 2 years because the apartment went to under new management, 2 weeks after I left a dead body was found there over drugs. Also my grandma was dying and my mom needed help.

We been sharing a car and it work for awhile but now I need a car of my own. So I got 3500.00 saved up and I don't mind paying for a older car straight up cash. I seen some on auto trader/craigslist but what else is there to pay? I know you pay to change the le and crap like that (what else/how much?)

With my crappy credit should I just look at private sellers and not even bother with dealers? I'm really clueless/lost on this. I have had the cash for awhile now but I been putting it off. I tried about a year ago and got burnt because the dealer said it was a done deal, to get insurance and bring it back. I go back and he pulls the bank wants more down. So I did not get it and I had just paid almost 200.00 on insurance that was canceled and I only got half of it back so that turned me off and I waited a year till I had a bit more cash.

man, I feel for ya.

Whatever you do, stay away from the little used car dealerships.

Also, while you are living at home, take advantage and do you and yourself a favor and go to college.

[CosmicCowboy]

Considering your financial situation, the first thing you need to remember is to not let your ego get involved. You are looking for a vehicle that can get you and your daughter from point A to point B.

You can find vehicles under $1000 cash that run. They may be ugly, they may have body damage, but they will serve their purpose. Tax and le is cheaper the cheaper the vehicle is. Drive it till it breaks. If it's a little thing, fix it yourself. If it's a big thing take the car to Newell Salvage or SMI, sell it for $250 and start over.

Unless your job is absolutely 100% secure you are nuts to dump all your savings into a down payment on a used car and take on new debt on top of that.

[CosmicCowboy]

Heres an example.

http://sanantonio.craigslist.org/cto/1018596693.html

Buy it, spend another $500 and you have a good reliable car that's paid for and still have cash in the bank.

[CosmicCowboy]

Heres another one to look at...

http://sanantonio.craigslist.org/cto/1018514923.html

[ORION]

Might be cheaper to buy a Chinese immigrant and a rickshaw

[Slydragon]

CosmicCowboy I been looking at cars like that (90's) They must have AC tho because my daughter has eczema and the heat is brutal on her even more so in a hot car in mid summer.

Thanks for the replies, I'm off tomorrow so I will look around/call places/people

Once again, thanks for the info everyone.

[ORION]

CosmicCowboy I been looking at cars like that (90's) They must have AC tho because my daughter has eczema and the heat is brutal on her even more so in a hot car in mid summer.

Thanks for the replies, I'm off tomorrow so I will look around/call places/people

Once again, thanks for the info everyone.

anytime...

[Taco]

go to carmax, you can get a good used car with warranty

http://www.carmax.com/

[Drachen]

This may sound like a silly question, but do you have your money in a bank, or a credit union?? If it is a credit union, I would absolutely try to get a car loan (despite your credit). I would even take the advice of the person that said you shouldn't blow your whole wad. Maybe you could look for a car in the 2-3k range and get a 1k loan (Say you had a 2k car, you would pay 1k down and get a 1k loan for 2-3 years, or if it was a 3k car, you would pay 2k down and get a 1k loan for 2-3 years). This would allow you rebuild your credit while not having to drain your savings. Also, if (as noted above) something happened to your job, you could pay off the loan because you already have the money in the bank. If you are not a member of a credit union, join one now. The ownership is different (the members are the owners not the stock holders) and most of them had very little to zero exposure to the housing mess, so their money wasn't drained having to cover sub-prime home loans, or the derivatives that have taken down the financial system. This has allowed them to continue lending at about the same rate. I bank at firstmark and they haven't even increased their rates for auto loans since before 08/07 (which is when I joined). They have the same rate if it is a new/used/or motorcycle loan, and their best rate is 4.24%. I realize you won't get that rate, but I wanted to show you it doesn't start high. I know I sound like a commercial for them, but it is because in my 29 years I have never had a better banking exp. than with them. If you already have a relationship with a credit union, they can probably help you, but if not, open a savings with $5 to become a member then start talking to them about a loan.

Ok, commercial over. Really I am sorry, I don't work for them, but I like them. Also, if you have questions about rebuilding your credit, I know a pretty good amount about that because I decided I wanted to buy a house in May 07 and my credit scores ranged from 495 to 520, so I started working on my credit and bought a house in April 08 with credit scores ranging from 660-685. I worked very hard on it, and learned a lot through the process. If you don't want this to be a thread hijack, then just PM me.

[RandomGuy]

You should seriously consider a new car.

I recently bought my first new car, and can offer some help if you want.

The next couple of months will be the best time in your lifetime to purchase a new car, simply because there are so many unsold cars out there, dealerships are DESPERATE to sell. You will get a great deal, if you manage your purchase carefully. Get a quote, and don’t be afraid to ask for more, no matter what kind of “no haggle” policy they might say they have.

New cars make sense from a couple of standpoints:

One is that your costs are very predictable. Buy and older car and you have much more variability in terms of not knowing when a repair bill will creep up on you.

New cars make sense if you intend on holding them for 5+ years. 7-10 would be ideal, longer if the car has proven reliable.

With this in mind, choose something small and fuel efficient, with a good safety rating.

From there, go on to find one that is fuel efficient. Gas is fairly cheap now, but WILL get more expensive, sooner than most think. Going for something fuel efficient now is a choice you will not regret.

Start with either the fuel economy:
http://www.fueleconomy.gov/feg/findacar.htm

or the safety rating and then to fuel economy:
http://www.iihs.org/ratings/default.aspx

The corolla or civic is generally a good choice, but don’t discount a good Ford Focus, which would end up being a VERY cheap option, and is pretty fairly equivalent to either the corolla or civic, don’t let anyone tell you otherwise.

This is all I have time for at present, but check your mailbox.

[RandomGuy]

This may sound like a silly question, but do you have your money in a bank, or a credit union?? If it is a credit union, I would absolutely try to get a car loan (despite your credit). I would even take the advice of the person that said you shouldn't blow your whole wad. Maybe you could look for a car in the 2-3k range and get a 1k loan (Say you had a 2k car, you would pay 1k down and get a 1k loan for 2-3 years, or if it was a 3k car, you would pay 2k down and get a 1k loan for 2-3 years). This would allow you rebuild your credit while not having to drain your savings. Also, if (as noted above) something happened to your job, you could pay off the loan because you already have the money in the bank. If you are not a member of a credit union, join one now. The ownership is different (the members are the owners not the stock holders) and most of them had very little to zero exposure to the housing mess, so their money wasn't drained having to cover sub-prime home loans, or the derivatives that have taken down the financial system. This has allowed them to continue lending at about the same rate. I bank at firstmark and they haven't even increased their rates for auto loans since before 08/07 (which is when I joined). They have the same rate if it is a new/used/or motorcycle loan, and their best rate is 4.24%. I realize you won't get that rate, but I wanted to show you it doesn't start high. I know I sound like a commercial for them, but it is because in my 29 years I have never had a better banking exp. than with them. If you already have a relationship with a credit union, they can probably help you, but if not, open a savings with $5 to become a member then start talking to them about a loan.

Ok, commercial over. Really I am sorry, I don't work for them, but I like them. Also, if you have questions about rebuilding your credit, I know a pretty good amount about that because I decided I wanted to buy a house in May 07 and my credit scores ranged from 495 to 520, so I started working on my credit and bought a house in April 08 with credit scores ranging from 660-685. I worked very hard on it, and learned a lot through the process. If you don't want this to be a thread hijack, then just PM me.

I agree. Credit unions are a great way to go these days.

The problem is finding one in your area of course, and if you plan on moving that makes thing problematic.

[RandomGuy]

Ok, commercial over. Really I am sorry, I don't work for them, but I like them. Also, if you have questions about rebuilding your credit, I know a pretty good amount about that because I decided I wanted to buy a house in May 07 and my credit scores ranged from 495 to 520, so I started working on my credit and bought a house in April 08 with credit scores ranging from 660-685. I worked very hard on it, and learned a lot through the process. If you don't want this to be a thread hijack, then just PM me.

Yup. One important part of this process is both knowing your credit score and how it is calculated.

[Drachen]

You should seriously consider a new car.

I recently bought my first new car, and can offer some help if you want.

The next couple of months will be the best time in your lifetime to purchase a new car, simply because there are so many unsold cars out there, dealerships are DESPERATE to sell. You will get a great deal, if you manage your purchase carefully. Get a quote, and don’t be afraid to ask for more, no matter what kind of “no haggle” policy they might say they have.

New cars make sense from a couple of standpoints:

One is that your costs are very predictable. Buy and older car and you have much more variability in terms of not knowing when a repair bill will creep up on you.

New cars make sense if you intend on holding them for 5+ years. 7-10 would be ideal, longer if the car has proven reliable.

With this in mind, choose something small and fuel efficient, with a good safety rating.

From there, go on to find one that is fuel efficient. Gas is fairly cheap now, but WILL get more expensive, sooner than most think. Going for something fuel efficient now is a choice you will not regret.

Start with either the fuel economy:
http://www.fueleconomy.gov/feg/findacar.htm

or the safety rating and then to fuel economy:
http://www.iihs.org/ratings/default.aspx

The corolla or civic is generally a good choice, but don’t discount a good Ford Focus, which would end up being a VERY cheap option, and is pretty fairly equivalent to either the corolla or civic, don’t let anyone tell you otherwise.

This is all I have time for at present, but check your mailbox.

Just so you know Ford just released their warantee figures (how much they have to pay out for issues on their cars that are under warantee) and they have dropped by 50% since 2004. They are now saving 1.2 billion a year because of this. It is interesting what great things can happen when a car company focuses on quality. Also the focus and the fusion have won best initial quality (above corolla and civic). I can't remember which year (last year or the year before, or maybe both). All this info leads to the point that Fords are now a viable option for purchases. Though, even though I understand the argument for a new car, with your current situation I still don't know that I would go with a new car.