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A place for Get Rich Slowly readers to ask questions
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 Post subject: Re: Need a car and have bad credit...out of options, need ad
PostPosted: Sat Jul 21, 2012 10:14 am 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1152
Zitara1121 wrote:
Thanks for all of the helpful tips. i have resigned myself to accept this new reality. While not having a car is still not an option, i am ready to start looking for a cheap car. I can buy a 1,000 car now and save that monthly payment until it breaks down and hopefully have enough saved so i can get something more reliable. Any tips or advice on searching and purchasing a "transition car"? I have a grand to spend right now.

Thanks

Try craigslist or your local newspaper classified ads.


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 Post subject: Re: Need a car and have bad credit...out of options, need ad
PostPosted: Sat Jul 21, 2012 5:18 pm 

Joined: Fri May 04, 2012 2:23 pm
Posts: 810
ignore what blue book says. the vehicle is only worth what someone is willing to pay for it. and as cars get older and crappier, the more variance you'll have. take your $1000 to a private party and beat them up on price. wave the money around, let the seller smell it, do whatever it takes. Give them a sob story. Get on your knees and beg. And always point out the facts, your have cash with you right now. If they don't want to budge, go to the next guy, wash, rinse repeat. You'll fetch the best deal via private party. Make sure to go over the car with a fine tooth comb and point out ever little deficiency.

good luck. and don't forget about TTL.

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"If you only have 1 year to live, move to Penn...as it will seem like an eternity."


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 Post subject: Re: Need a car and have bad credit...out of options, need ad
PostPosted: Sat Jul 21, 2012 7:56 pm 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 959
If you don't know much about cars, take someone with you that do especially a mechanic.

Ask for service records or what they have done on the car recently.

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Be what you want to attract.


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 Post subject: Re: Need a car and have bad credit...out of options, need ad
PostPosted: Wed Jul 25, 2012 8:28 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
In college I bought a car for $1,000 cash. I requested that the sale be contingent on my (trusted) mechanic looking the car over before things were final. (As I recall, the purchase price was more like $1,100 but my mechanic found $100 worth of repairs that needed doing so that was knocked off the purchase price.) I drove that car for 2+ years in college, and only bought a new one after I graduated because the car leaked so I would get rained on during/after any precipitation. Otherwise the car ran fine, had well under 100k miles, and was in pretty good shape.


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 Post subject: Re: Need a car and have bad credit...out of options, need ad
PostPosted: Wed Jul 25, 2012 9:58 am 
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Joined: Thu May 17, 2012 10:05 am
Posts: 1012
peaceofmind wrote:
In college I bought a car for $1,000 cash. I requested that the sale be contingent on my (trusted) mechanic looking the car over before things were final. (As I recall, the purchase price was more like $1,100 but my mechanic found $100 worth of repairs that needed doing so that was knocked off the purchase price.) I drove that car for 2+ years in college, and only bought a new one after I graduated because the car leaked so I would get rained on during/after any precipitation. Otherwise the car ran fine, had well under 100k miles, and was in pretty good shape.


I did the same thing. Got a steal for an economy vehicle for $6000 cash. I used it for 4-5 years before I bought my first new vehicle. The car had leaked when it rained eventually and I determined it wasn't worth fixing. Plus I got it with 47k miles on it. By the time I replaced the vehicle it had almost 100k.

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