Buy here, pay here last resort?
I'm 18 and i'm a full time college student and i work part time. I have no credit or co signer and i make about $400 a month. I had a 2000 honda civic but it got towed because i was in an accident (not with another car) and i don't want to pay $250 to get it out and pay more to get the tires fixed and the drivers door was already busted so its really not worth paying for. My last resort is a buy here, pay here dealer because i don't have time to save my money because i can't go to school and work while taking public transportation, not with my busy and tight schedule! I literally have 10 minutes to leave school and get to work! My parents are helpless in this situation because my dad has bad credit and isn't definitely not going to help! I can do a $1000 down payment and pay about $300 a month. I've been employed for about 5 months and i'm looking for more work. Please help i'm desperate! If this isn't the best option then what is? I can't get a loan because i have no credit and i will definitely not find anyone to cosign for me! What should i look out for with these dealers?! Please don't tell me to wait and save my money because i don't have time for that! I can't buy off of craiglist either because they ask for the money up front and i only have $1000 to give and i doubt i would find a good car that will last me a long time with that price!
$1000 down will get you a car.
A good car that will last a long time? Highly unlikely.
They tend to charge Way more than a car is worth. So for $1000 down, you might get a $1500 car. You will pay $6996-7995+ interest.
That's how it works.
I doubt you will get anyone to finance you with a salary of $400 a month. The car payment and insurance will cost you more than that.
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