Auto loan and trading in broken car

[Anonymous]

I’m looking at buying a used car, I currently have a car loan that I just refinanced for $4900. The transmission on the car is shot. My wife is due with our 4th kid anyday and I need a vehicle that can fit our growing family and is reliable. The car might get $1000 for trade in, that’s a maybe. What is the best way to go about this and keep my payments under $300? If that’s even possible.
Last I checked scores were around 640 since I went on vacation and racked up a few credit card bills. I have no money to put down at all.

[Brian_Earl_Spilner]

You'll basically be looking for a car that's $10k or less and a 60-72 mos contract. It's possible to do no down payment, but not likely. Try looking at carvana. You can pre qual on a soft pull and it will give you an idea of what you should be looking for along with expected rates, down payments and contract lengths. When I was shopping, they actually were giving me better rates than cap1.

[SweetCreditObsession]

Also try your CUs and Cap1 Auto Navigator. Best wishes.

[Anonymous]

Even if you don't want to keep the car, you should find a used transmission online and pay a shop to put it in then sell it.

If it costs you $1500 to do this but makes the car worth $5k again instead of $1k, you will have just saved $2500.