New car buyer

Walk away and buy a used car.

>>14714912
Ok here is the basics. Your car payment should never be more than 20% of your gross monthly income (that's the max, depending on your financial situation, you might want to shoot for 10-15%).

If you make 1000 gross in a month, your car payment shouldn't be any more than 200 dollars

As a first time buyer, it's in you interest to shop around. Check local banks (and Credit Unions if you have access) to see what rates you quality for. With a traditional bank expect around 10% as a first time buyer. With a credit union expect about 5%

If you are going to go with something new, stick with something that has good resale value, and will be within your budget.

While your money will go much farther with a gently used (2-4 year old) car, it's much easier to qualify for financing on a new car, and new cars offer much strong first time buyer incentives. Weigh your options with both, and make the choice that works best for you financially

File: miata_is_always_the_answer.jpg (53KB, 700x700px) Image search: [Google]

53KB, 700x700px

>>14714912

>>14714912
90s corolla

>>14714912
90s corolla/90s civic

>>14714937
Thanks bro
>>14716089
>>14716200
Is this a trick? Two people saying the same on chans usually means meme

>>14714912
How much cash do you have on hand for a down payment?

>>14714912
Life is difficult. It is more difficult if you are stupid.

>>14714912
Just ask them how much, after they tell you, say deal but I want the car washed for free. They might give you a hard time and if they do tell them now you want 2 car washes for free and keep adding it up until they cave

>>14716353
>usually means meme

it is a meme just like the miata meme. A few years ago it used to be the volvo 240 meme, dont fall for it.

>>14714937
This.

Especially the part about shopping around for a loan. I when to three different places, and I went from a 3% APR to 1.99%. Some places will even give you better interest rates depending on the car you buy.

Not OP, but a college student with 0 credit. I have no car, no way to get groceries without bumming a ride off a friend, and need a car.

I had previously gone to one of those super cheap car lots and got something as cheap as humanly possible, but it broke down every 3-5 weeks and died after less than a year.

How can I get a car with no credit and like $1000 for a down payment? I work and have scholarships to the point I could probably make payments of $125 a month, but I don't think I can get financed.

>>14717284
Bum rides until you have 2k and buy a car off Craigslist.

>>14717455
That's what I did last time and the car broke down usually twice a month, until dying for good after less than a year

>>14717592
If you can't get a reliable car off CL for 2 grand, maybe you should just buy a bicycle.

>>14717592
You have to know what to look for. Or bring someone who does.