Hello, everyone. I don't post often here at all.
Here are two of my threads about my past financial situations:
1) From April 2011: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Sad-and-unemployed-Really-would-appreciate-ad...
2)From June 2012: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Question-about-Answering-a-Debt-Collection-La...
I'm coming out of having paid off a collection debt back in December 2012 (the payment plan worked out better than I thought it would, luckily enough). Since April, I've been "promoted" at my job at the post office from Casual mail handler to being a Mail Handler Assistant, which is essentially the same exact job with the exact same privileges (ha ha) but with $4 more per hour and I get some annual leave. I used the time between post-Christmas 2012 and June to start saving for a car. My family was annoyed that I was saving up for a Tercel (I saved up $2500 max) instead of a $4000+ car, because they assumed the car would be loaded with costly problems and I'd pretty much be wasting my money. Well, the '95 Tercel STD (no AC!) I ended up getting in July did have its considerable problems, (I got it off of Craigslist from a University of Georgia grad -- I drove 45 miles east to Athens, GA, from here in metro Atlanta to go meet with her, too!), but otherwise, I ended up loving it. 
Well, most recently, midnight, on Jan. 26, I hadn't yet done the state-required emissions to renew my tag before my birthday on Feb. 11, when, on my way to work that morning (I work nights), this driver hits me on my driver's side door while I was making a right. She was begging me not to call the police, and I wish I hadn't had to, either, because my car was a '95, so my insurance was surely going to total it, and I was depressed about it, but I ended up doing it, anyway. She blamed it all on the driver in front of me in the intersection for confusing her on which way it was going, and the police officer on the report ended up giving her a citation for "Failure to Yield." I was sent home with no citation; she was found at fault. So far, I don't feel injured. Seems like the Tercel was the only thing damaged: her 2002 Mustang and she suffered nothing.
My insurance (Progressive) totaled my car out, and they're giving me $1600 for it. I don't really have a car right now. I'm still driving their rental, a 2013 Focus. It's OK, but it's not my car.
My family's overjoyed that I've lost my Tercel. (blargh) They're pushing me towards getting a 2012 or 2013 car with a carnote. My Equifax score's down by 7 points (currently 646) because this Hyundai dealership salesman pulled my credit back in December and said he could get me into a 2012 Civic LX for as low as $200/month, no money down (ha). My biggest problem with getting a new car right now is that, I may be turning 30 in a week (yikes!), but I've only been driving for about two years (it'll be two years next month), so any new car I'll try to get, my insurance will jack my rate up 200% of what I was paying on my Tercel. My Tercel, I was paying just $94.63/month; any car from the 2000s and newer, the rate goes up to $150+. I typically have about $400 left after every paycheck. I don't know if it's worth it for me to get a new car just because I "don't know much about cars" and it'll be "better for me in the long run" or whatever. I still want to pay off my debts. I still want to save up for school. I still want to buy a new computer. I don't want to worry about retaining value on a car: I'll keep the car maintained and running; I just want the freedom to take the car somewhere hours away and be back with no financial repercussions. I just need a car that's a gas-sipper, that's reliable, that I can take anywhere, and will protect me on the road. My only modern requirement is that the next time I'm in some dumb accident, it won't immediately mean I have to get another car. I'm tempted to just go back to getting another "beater." My family may think I'm too much of a spendthrift, and that my brother claims that most people don't have as much money as I do after all bills are paid, but I don't feel comfortable taking on another huge amount of debt: I already have about $17K of student loans to pay off. All of my old revolving debt is almost paid off.
My brother says I should just suck it up and pay the extra insurance per month, too, since I took too long to get a license, (yeah, too bad about not getting help from my family, it's all MY fault, right...?), and it'll go down over time, anyways. Uhhhh...
Also, after I have to give the rental back on Saturday, my driving options revert to using my mom's 2001 Camry again, until I get a new car.
What do you all think?
Well at the end of the day its your decision and yours alone. If you don't feel comfortable taking on a car note then don't. Sometimes I wish I took that route myself lol. There are some decent "beaters" out there. Maybe a corolla? Civic? They make decent beaters, great on gas, reliable and your insurance shouldn't cost you know more than what you were paying.
Also you are working my dream job lol. I used to be a mail handler back in 2007 for the Christmas season. I LOVED THAT JOB! I got layed off Dec 31 2007 lol. They called me back a year later but I already had another job. They haven't called back since.
But I am happy where I am now.
Also you are working my dream job lol. I used to be a mail handler back in 2007 for the Christmas season. I LOVED THAT JOB! I got layed off Dec 31 2007 lol. They called me back a year later but I already had another job. They haven't called back since.
But I am happy where I am now.
golby260, it is so refreshing to read a post like yours It's pretty easy for family members to spend your money. Don't let them control your actions or make decisions for you or guilt you into spending money you don't want to spend.
After all, if you do buy something with a monthly payment - are they going to chip in the money each and every month until the car is paid? I don't think so 
In fact, I think you did a very wise thing by getting the original vehicle from craigslist and banking your funds after expenses. Why not do the same thing with this "new to you" vehicle?
Making car payments is one of the ways that keep people broke. As you pointed out earlier, not only does the car payment become another expense, but you have additional insurance costs as well if you get a newer vehicle.
Read Dave Ramsey's website and his thoughts about car payments for good info to bolster your argument against having a car payment. I think you will like his analysis