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Buying a used car advice?

inb4 "This isn't an advice forum bugger off wanker."

I have $2900 from an insurance settlement. I want to buy a car a used car that is $5000. If I go into a dealership and offer $2900 down will they sell me the car? What is it, like less than $3000 I would owe?

I have terrible credit but I do have a job now and I can pay it off in less than a year.

Help.

ask krypton, he's awesome with cars.

krypton are you posting.

lol

$5000
-
$2900
______
$1100

That's not much man. Maybe you should start getting into the habit of saving.

quote:

Originally posted by Spam $5000 - $2900 ______ $1100 That's not much man. Maybe you should start getting into the habit of saving.

Nice maths there, mate.

quote:

Originally posted by Sushipunk Nice maths there, mate.

lol, I was sitting here trying to make that work.

Ugh, I've been circling cars I want whose prices match my needs only to discover they are the opening bids for public motor auctions /;

quote:

Originally posted by Sushipunk Nice maths there, mate.

Shhhh, he wouldn't have noticed if you hadn't said anything.

If you get a car for $5,000, your prolly gonna pay closer to $6,000 after taxes & fee's. Shoot for an "out the door" price you wanna pay. If i had that amount to spend on a used car, I would go for a used Lexus.

why do you have terrible credit?

i owe for a lot of things. a lot of wrecked things.

Most dealers wouldn't finance 2.1K loan on a 5K car. You're better off offering the dealer cash and getting a bank loan/credit line. You're even more better off (financially) if you buy privately.

get a toyota and you'll be fine

quote:

Originally posted by jonSun I would go for a used Lexus.

For $5k? What would it be, an 89 LS with 600,000 miles??

my ex had a 92 lexus (forget which model but the big long 4 door) and it had 200k miles on it and it ran better than my car with 80k miles on it. that thing was a soldier...he drove it down from ohio and everything with 100k miles on it already.

Lexus are great cars, but I don't think you can really get one for $5k...can you?

no i don't think so. unless you go to an auction maybe, that's the only way i see that happening, and you need a buyer's license to go to those.

quote:

Originally posted by Spam $5000 - $2900 ______ $9057

There, I fixed it. Sorry to tell you this, FromAbove, but it's over nine thousand... get a lawn mower instead.

quote:

Originally posted by Slylee no i don't think so. unless you go to an auction maybe, that's the only way i see that happening, and you need a buyer's license to go to those.

i get all my cars from auctions but you really need to watch out easy to pick up a lemon like that

quote:

Originally posted by Zild i get all my cars from auctions but you really need to watch out easy to pick up a lemon like that

lllllllllllllllllllllllllllllllaaaaaaaaaaandooooool

quote:

Originally posted by fbgdavidson For $5k? What would it be, an 89 LS with 600,000 miles??

Nah you could easily get a 95-98ish for 5k. http://tinyurl.com/nd7meo Found a few like this. Not bad really, but yeah mileage is high and you have to expect problems.

quote:

Originally posted by Slylee no i don't think so. unless you go to an auction maybe, that's the only way i see that happening, and you need a buyer's license to go to those.

Not with all. You are correct for dealers auctions, but there are also public auctions.

quote:

Originally posted by OrZonE Most dealers wouldn't finance 2.1K loan on a 5K car. You're better off offering the dealer cash and getting a bank loan/credit line. You're even more better off (financially) if you buy privately.

This

quote:

Originally posted by Slylee get a toyota and you'll be fine

And This.

Depending on what you want, a early 00's Corolla, Camry, or even Tacoma for that matter will get you by. You can also get a late 90's 4runner.

You can also get a honda or acura. Stay away from the v6 acuras and the older luxury acuras. Also stay away from a civic or integra if you live in a high theft area. If you do live in an area like that, make sure that the civic or integra is automatic so a thief wont even bother. The automatics last very a long too, 200k+. Mitsu's Nissan's etc are fine too, as long as they are not luxurious and have 123213 options.

Personally, i would stay away from anything german and in the mid90's. I have seen several friends struggle with their car right as soon as they buy it. If you were working with more money, sure. But your not so just get something decent and reliable.

quote:

Originally posted by gehzumteufel Not with all. You are correct for dealers auctions, but there are also public auctions.

Yeah there are public auctions, but those rarely have something in the 5k range. 500 range yeah, but 5k not really.

The majority of those auctions are tow/impound auctions, they are there because the owner doesn't want to pay the 1000 to get a car that's only worth 1500 dollars.

Or can't afford to pay the $1700 (tow plus 30 days storage for unlicensed driver in California) needed to get an $8000 car out. My gf's bf got a car at auction for $2000 that has a private party "good" kbb value of $8700.

But yeah, I doubt that's typical or usual.

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