Financing after 2 repos????

[drkaje]

$2K can get a reliable car.

[Anonymous]

Definitely try to find a decent car for the $2000 you have.  My sister just got a Honda Accord (2002 or something around there) with 130k miles on it for $2250.  You could probably find a domestic around that age with less than 100k for $2000 or so.  If you pick smart and get a mechanic to look at it before buying, you can find a fairly reliable car.  Save your monthly payments to avoid bankrupcy and get a car loan when your credit (and you) is ready.

[FrugalRican]

My name is FrugalRican for a reason.

When I moved to New Jersey, I had 2K to get a car, because I needed it right away.

Found a 1993 Toyota Tercel for 1.6K which only had 99K miles that has treated me oh so well for the last 4 years. The deals are out there. Avoid the high car payments for the ridiculous interest rate you would get with those scores. I know it's not the "sexy" idea, but it's your best choice right now.

[MetalguitarJames]

I'm going to have to agree with the rest of the folks here regarding financing with that score. I went through something similar but much much worse. After being honorably discharged from the AF in 2003 I lost two cars and a home. That's right....Two repo's and a Foreclosure. I ended up securing financing through a BHPH lot and was hit with 32% interest. They also installed a "Pass Time" device that would require a monthly code to allow the ignition to be turned over. 

Take it from me and pet cemetery "You don't want to go down that road". My score was in the 480's at the time and I purchased a 1998 Suzuki Esteem. Sticker was $6k w/ 70k miles. Talked them down to $5k with a $1k down payment. $4k financed at 32% interest was rough no doubt but I paid it off early. I learned that buying a vehicle outright with a couple of grand would have saved me a ton of frustration. Grab a hold of your credit problems and get them figured out. It will pave the way for an easier life later on. 

[Anonymous]

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@MetalguitarJames wrote:

I'm going to have to agree with the rest of the folks here regarding financing with that score. I went through something similar but much much worse. After being honorably discharged from the AF in 2003 I lost two cars and a home. That's right....Two repo's and a Foreclosure. I ended up securing financing through a BHPH lot and was hit with 32% interest. They also installed a "Pass Time" device that would require a monthly code to allow the ignition to be turned over. 

Take it from me and pet cemetery "You don't want to go down that road". My score was in the 480's at the time and I purchased a 1998 Suzuki Esteem. Sticker was $6k w/ 70k miles. Talked them down to $5k with a $1k down payment. $4k financed at 32% interest was rough no doubt but I paid it off early. I learned that buying a vehicle outright with a couple of grand would have saved me a ton of frustration. Grab a hold of your credit problems and get them figured out. It will pave the way for an easier life later on. 

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Wow, a device to disable the ignition?  That is intense.  I never heard of this before.  Glad you got through it all though.

[Repo-ed]

I paid 3k cash for my current car (I have a repo, as well) and I couldn't be happier.  I found it on Craiglist.  My father did go with me, to go over it with a fine-tooth-comb.

I highly reccomend paying cash-in-full for a used car, but please don't go by yourself, and don't take just a "guy", and he not have ANY mechanical/car knowledge such as timing belts and green fluid on the oil dip-stick.  Or to make sure the car wasn't warmed up before you got there, so that you can start it cold and listen to it and check the fluids...etc.