Buying a used car: I'm looking and it seems to be a reoccuring theme. . .?

Question

when looking for financing I keep getting responses that I must make a minimum of $1500.00 a month. Between my husband and I we make $1450.00 before taxes. We have $200.00 saved up. Anyone have any suggestions on what we can do. Oh, we do not have a trade-in. (we sold it for junk)

Answer 1

You might have to go to a "Buy here -Pay here lot....   It seems like your credit rating could be the issue.

Answer 2

200 saved up? That might buy you a tasnk of gas. But it seems like you have a tight budget, so I suggest buying privately, and please,pleae,please: Make sure you can afford what you buy, cause if you've only saved $200, can you really afford to make a $300/month car payment?

Answer 3

Get a second job.  The $200.00 will not even cover 1/2 the sales tax.

Answer 4

Loan companies know that $1500 a month is not a lot of money to buy a car, put gas and oil in that car, pay insurance, and pay all your other expenses at the same time. I would suggest finding a family member or friend to help you with money or a car, or find someone with a decent car who will accept payments from you.

I do not recommend "buy-here-pay-here" dealers. They sell overpriced junk cars, charge you the maximum interest rate allowed by your state, put you on a tight weekly or byweekly payment plan, put a starter interrupter on your car so that if you are late with one payment the car is disabled, and if you miss a payment, the car is repossessed and your credit rating is hosed. Just don't do it.