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MrsBeauregardless t1_ja520vi wrote

Call the credit card companies right away and explain your situation. They will work with you.

Sell your car, use that $3500 to get a vehicle that runs, as in a Toyota or a Honda from the early aughts, with 200k miles on it. Do not incur a whole ‘nother car payment. I mean that the cash from the sale of your car needs to completely cover the cost of the car you’re buying.

Is the personal loan from a friend or family member? Can that person do without payments until you can get a full time job or a second part time job?

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opmeTK OP t1_ja55sj3 wrote

It’s a private loan, sorry. Not from a friend or family, but from Upstart. Gonna be tough to find a car for $3,500, I’ve looked and a ton of junkers even are asking $5-6k. I’m not a car guy either so it’s tough to tell what cars are in good condition and what ones aren’t but I’ll do my best for sure

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MrsBeauregardless t1_ja56tr6 wrote

One tip I suggest is to put the word out with everyone you know. Tell them about your car situation, and that you need a car for $3000. If they’re going to trade one in or something, that amount might be what the dealership would give them, so why not let you buy it for that instead.

Also, here’s how I choose vehicles: go to the library and look at Consumer Reports’ repair records as far back as they have issues.

Make a list of all the makes and models where the repair records are all red circles or semicircles, and not black dots or black semicircles.

Go through those repair records from book to book, and see which vehicles from your list have repair records that are getting better, vs. those who never seem to correct the problems, or they’re getting worse.

Then, narrow your options down to the good ones that stay good or get better over the years. That’s half the battle right there.

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opmeTK OP t1_ja572zs wrote

I appreciate that advice. I’ll do that tomorrow. There’s a library near me.

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MrsBeauregardless t1_ja57koh wrote

The reason I say $3000 and not $3500 is because you need money for taxes, tags, and registration — incidental repairs, AAA.

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MrsBeauregardless t1_ja58cj4 wrote

See whether there are YouTube videos with tips on what to look for when buying an old used car.

You will also need to learn to do things like change your own brake pads, oil changes, and stuff like that, anyway.

You’ll become a car guy, by necessity.

Maybe also talk to mechanics about what they would recommend if they were in your shoes.

Hey! I bet there is some sort of car subReddit that might have just that sort of answer for you.

Also, join r/PovertyFinance for more advice.

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