Need advice please
 

Big problem with my car situation:

Ok, my beater '87 chevy got pulled over AGAIN for having a loud exhaust (no muffler, 02 sensor fell off). They just warned me, but this will happen again, i'm sure of it. I can't afford to fix this car, plus it's not worth it: Blown shocks, bad tires, bad brakes, exhaust problems, rust everywhere, etc etc. I know it's not safe driving it, but it's all I have right now.

So i need a new car, I know that. This isn't a case of wanting a new car, I actually need one. The dilema is here: I have to fix the conquest and my motorcycle before I can sell them to get any real money. But in the time im fixing them, I can get pulled over again for the exhaust (plus be in the deathtrap in the first place).

Buying the motorcyle was perhaps the worst financial mistake of my life (19 years old), I know this now. I can't go back in the past, so I've got to fix what I have now. I'm willing to sell both my conquest and the motorcycle to get a safe, working car, but due to money and winter, this is near impossible at the moment.

Should I try to finance a newer car? Should I buy another beater? Should I continue driving the current beater till I can fix and sell the other cars?

I'm going a little crazy right now, sorry for the rant.

PS: Not looking for "Well you should have done this in the first place, blah blah blah" type flames. If you think you can help my situation, please post, if not, don't.

Re: Need advice please
 

You should look into financing a nice used vehicle if you have the income to do so. I think if you eventually want a decent car, buying another beater will only put you that much further behind since it will probably need work too. What is wrong with your bike and 'Quest?

Re: Need advice please
 

Quest needs light body work done to it, and the clutch still has engagement issues. I plan on buying an SS clutch line and new washers for the clutch line-to-slave cylinder to see if that fixes my air leak. If it does, I will see if my prior 'clutch-not-disengaging' problem still exists (when i put new MC and SC in, the hydralic problem masked the other problem).

Bike needs new tires, and could use a new chain and sprokets. I'd like to wetsand then clear coat the fairings also.


After talking to a few people, I think I will start buying the necesary parts to fix the quest. That way, it if runs I can drive it (even though rust is financial suicide), and if it runs I can (obviouslly) sell it faster. I'm thinking financing a newer car would just set me too far back....but maybe not =\

Re: Need advice please
 

I bought a used car. I make very minimal payments (185/mo) on what I think is a damn nice car. I have a 99 Integra. Something to look into if you can afford low monthly payments. I know there are options out there that would be even LOWER monthly payments.

Re: Need advice please
 

Damn clean 2G!

Re: Need advice please
 

If you guys are gonna post cars for sale do it in the right spot!

Re: Need advice please
 

But when buying a used car, don't you need full coverage insurance? I could afford the monthly payment, but it's the insurance that would kill me.

Re: Need advice please
 

If you have a lean on it yes you have to have full coverage. Otherwise you are just required to carry liability.

CRAIG

Re: Need advice please
 

Take out a personal loan, cash it and then use that for a car. If the bank knows you intend to buy a car then you have to carry full coverage and they have a say it what you buy.

Re: Need advice please
 

I'm not a big fan of debt though. In fact, I refuse to go in debt. It's the same way with college money also.

Re: Need advice please
 

Sometimes to get ahead you get a little behind. Just commit to making it better.

Re: Need advice please
 

I cannot believe I am saying this but...Nicely put Allan. I really have to agree with him on this one. Curb your spending on stupid shit and buy yourself something decent to drive. You will be happier in the end. I know I was.

Re: Need advice please
 

I hate debt too but certain types of debt are okay. In this situation I would say borrowing $$ wouldn't be bad depending on how much you borrow and what you buy.

Re: Need advice please
 

I just bought IndiEPs old car. Im loving it. I will probably break it. It cost me 3k and i pay 102 dollars over 3 years ( ill complete it in less than 1). Point is, if you dont buy shit like smokes, fast food, movies etc, that 100 dollars a month isnt even NOTICABLE. Tell the bank you lend from that its for bills and car REPAIRS.

Re: Need advice please
 

Ok, maybe i'll do that. The car I want is in a rather attainable price range (3-5k), so it shouldn't be hard to get a loan for that amount. I already have a bit of money saved up also. I don't buy useless crap anymore either, it's all cable bill, gas, insurance, food for myself (not junk), and soon a cell phone. I'm pretty good with my money :)

Also, I'm not familiar with loans. Would I be able to even attain one with no credit history? I'm 19 and don't own a credit card yet =\

Re: Need advice please
 

Get a credit card! It will help build your credit. I would get 2 and use them alot but pay them off right away. So Use them for stuff you would pay cash for and then have the cash to pay for the bill.

Otherwise right now for a loan your probably gonna need a co-signer without come collateral or VERY high intrest.

Re: Need advice please
 

A credit card will not be enough. You need a certain amount of credit points, have posessions they can take, and have a certain DTI ( debt to income) ratio of like 45 % or less. Just have your parents co sign. I got a 12.5% rate.

Re: Need advice please
 

I know a credit card won't cut it right now for a load but if used correctly a credit card is the best way to build credit. But it can also be your worst nightmare. Just ask me how I know.

Re: Need advice please
 

Your very right. A loan over at least 6 months + proper use of a credit card + renters credit will get you very VERY nice credit. This will allow you to get lower intrest rates, buy a house etc. I bet your card owns your laptop ;)

Re: Need advice please
 

12.5?!?! Dude, that is terrible. I just got a 5.9 about one month ago. I did not have a co-signer either. But, I do have over 750 on my credit score.