Car & Boyfriiend; HELP

[Anonymous]

Go get the car you want, used or new, from $15,000-$20,00 and build your auto loan history.

It will help you tremendously with a lower rate later on.

You are considering putting $10,000 into just buying a car outright. Why not put a $5,000 Down payment on a new $20,000 vehicle, which will not only get you a better rate, but most likely start you off "on top of your loan", which means you are below 100% of the car's current value, which also means you would be eligible for refinancing if you got a rate you didn't like. 

This way you have a reliable vehicle, an auto loan history, a very low payment each month ($250/mo at 72mos 3-5%), a clean break if you get into financial woes.

Keep that other $5,000 in a savings account as an "emergency vehicle fund", which in a new vehicle's case, will mostly just be for picking up payments on slow months. that $5000 will cover you for almost 2 years worth of payments if things go wrong.

Seems like a no brainer to me !

[Anonymous]

Take yourself down to the Mitsubishi dealer. I put 190k miles in 6 years on one before I totaled it. You can pick up a 2 year old nicely equipped Lancer for about $13k.

Oh, and the only thing I ever did maintenance & repair wise was an oil change about twice a year.

[LuckyBird]

We bought both of our daughters new Nissan Versa sedans when they went to college.  They are great little cars, very reliable, and very affordable.  Nicely equipped with mid-level trim package for around $15K.  Not stripped-down base models at all.  They are cute and sporty and the girls love them.  Also significantly roomier (back seat and trunk especially) than many other small "student/young adult" type cars by other makers.  Nissan frequently offers great financing deals and I believe their underwriting is pretty lenient for first-time buyers.  Maybe check them out - you could make a good down payment & probably end up with a monthly payment of $200 or so, maybe even less.

One of ours (a 2015) was just purchased last fall but the other one we bought in spring of 2012, so she's had it for over 3 years now and we haven't had a moment's trouble from it.  And the dealership we bought them from (and my 2012 Altima) gave us lifetime power-train warranties on all of them.  I'm Nissan for life now!

[Anonymous]

I will tell you the same thing, I tell my 21 yo daughter (college student) as well. Dont ever become dependent on a boy friend,.even though the relationship is good, trusty, and loving....well, I will leave it at that.

Also, I would suggest you watch a few episodes of Judge Judy, half her shows are about BF / GF relationships, money, and cars...

[Anonymous]

---

@Anonymous wrote:

I will tell you the same thing, I tell my 21 yo daughter (college student) as well. Dont ever become dependent on a boy friend,.even though the relationship is good, trusty, and loving....well, I will leave it at that.

Also, I would suggest you watch a few episodes of Judge Judy, half her shows are about BF / GF relationships, money, and cars...

---

I learned a lot from watching Judge Judy and The People's Court.  

[Anonymous]

Thanks for all of the advice! My boyfriend isn't too happy about my choice, so I can't really ask him ..

Does anyone have any tips on going to car dealerships? I went to the Mistubishi Dealership in Arlington Texas and it was a nightmare. I had a copy of my credit report and a paper from my credit union agreeing to finance a used car for me at 5% (Not great but you guys know how it goes) and I brought my report in case they could match the financing.

Anyway, I felt like they were pressuring me to buy a car right there like I couldn't even look a few minutes by myself, and they kept bringing managers by everytime I wanted to leave. I want to take my time to get a car, I mean I'm gonna have it for awhile. I like the idea of improving my credit with a revolving loan since I have such a thin profile, but I don't know if I can go through that pain again.

[Anonymous]

Lol you could get yourself a reliable 04'/'05 used 4-dr Honda Civic in good condition with 120,000 miles for $3K-$5K which should last you til your graduation, even longer. These cars are made to go 200K+ miles as long as you do routine check ups (oil changes etc.)

Good gas mileage and if it breaks down Civic parts are easily found anywhere and everywhere for cheap.

Sounds like your "bf" is a stuck up **bleep**. Don't believe the hype.

[jzamarripa3220]

Hi there, my best advice is to do some online shopping/browsing before you step foot in a dealership. That way you can compare more efficiently like check the car fax and kelly blue book and what not, to make sure you're getting a good deal. Plus a little exposure to the market will help you know how much certain cars are going for. I actually really needed an upgrade for a a few months so I just ended up financing an 08 ford (that I saw online) with only 60k miles for just a little more than 9k, which included their "second best warranty". I had to trade in a beater that they really couldn't do anything with but when it came down to the actual loan application, I didn't even have to provide my proof of income. I'm a 21 year old student too, but I've actually been building credit for two whole years now. Oh, and don't sign anything before you read it and I mean all of it. Also don't be afraid to take your time. Remember that you're spending your hard earned money and not nobody else's. My point is, go out and get your own vehicle. You can even negotiate a price over the web.
P.S. Explain to your bf that buying an expensive car isn't in you plans for the immediate future. Hopefully he is understanding enough to respect your decision.

[Anonymous]

I would only ever get a car loan if you were 100% comfortable with making payments.

As another user said though, buying in cash does mean you are debt free, and it also means your monthly insurance rates go down!

The first car I ever purchased was for $2500 and it gave me 80,000 miles with only $2,000 in repairs. Was worth it in my opinion as I didn't want aby debt.

And sorry for saying this, I have family in the automotive industry; but why buy a foreign car? Why not support an American company over a Japanese one?

We are all blessed to live in a country as great as America, and I hope you feel the same way. Take pride in buying everything you can that is made in this beautiful country.

[Anonymous]

Many of your foreign brands are now assembled in plants right here in the US. Choose a car that is from a reliable brand & model. Check it carefully. Bring a mechanically inclined friend or relative with you. (BTW, that's NOT your boyfriend who has a hard on for one or two brands.) Be aggressive with the salesmen. Sometimes I get accused of being a b because I make it clear that I'm not talking to them. I'm browsing.