needs advice.

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amurdaugh2010
amurdaugh2010 Posts: 39
in Chit-Chat
I'm out of a car. Like really out of a car. I'm 21 with a full time job, full time bills, and a single mom to a 2 year old. Should I try to get an auto-loan? I can't borrow a car though, and it will take me months to save up a down payment because I've burned through my savings with medical bills.

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  • BOATS52
    BOATS52 Posts: 46
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    Save your money and get your savings back up is there a car pool or other public transporation options? Good Luck.... gas on the west coast is $4.25 a gallon which sucks !
  • T_Wright
    T_Wright Posts: 1
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    There is also a program where you can get a car for when ever you need it, I don't know that much about it but you can check into it and see if it would work for you! Good luck
  • amurdaugh2010
    amurdaugh2010 Posts: 39
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    I live in a really rural area, and there's no public transportation here. and i've never heard of the whole using a car when you need it. but car pooling isn't an option because I live 30 minutes from town in the country country. my nearest neighbor is like three dirt roads away.
  • digitalbill
    digitalbill Posts: 1,410 Member
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    I hate to say it but, you might have to get (financially) raped by one of those "Buy here, pay here" places.
    Get the absolute cheapest thing you can with four doors and pay it off as quickly as possible.
    Once the vehicle is paid off, start putting aside whatever you can for savings. A car payment is a real big ball and chain to carry around on a brand new car.
    I totally understand the whole dependability thing but, you need to weigh your options.
    As a 21 year old with (I am assuming), very little credit history, you are looking at a pretty high rate even for a new car.
    It has gotten tougher in the past few years to get a loan and the problem with new cars is the depreciation value.
    At least one of those crappy used car places are pretty inexpensive.
  • BohemianDestiny
    BohemianDestiny Posts: 47 Member
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    I'm going to have to agree with digitalbill on this one. I grew up in the country and I understand how hard it is to get rides. You need to have your own car and from what you've said, that sounds like your only option in the short term.

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