What kind of car can I get for $100-150 car payments?

Question

I have no credit established

I will trade in my car for about $1200

I have a job that pays under the table

Is it possible to get a car newer than 2001?

Answer 1

I doubt it.

You would need proof of earnings.

I was tempted to say,   a car you have to pedal, but NAH I won't do that.

All kidding aside, watch the paper for some of them that brag, NO CREDIT, NO PROBLEM. But make sure you get a usable warranty or buy it so cheap you can afford to pay for repairs.

With gas prices escalating, there might be some newer gas hogs going for drastically lower prices. But then, you have to feed them hogs.

Answer 2

its a buyers market/ most anything posible

Answer 3

No.

Answer 4

For that kind of money you have to get an UGLY duckling in good mechanical condition.  In another words - you have to be willing to make some sacrifice.

If you want a recent year model and good condition, it will also be expensive.

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Let me give an example.  My 94 Civic has 187K miles.  It gets 41 MPG.  The car runs like new.  It is rock solid.  I drove it from NYC to Chicago and back (1600 miles in 2 days).  If I had to sell it, I would not get more than few grands.  This is the kind of UGLY duckling you need to look for.

Good Luck...

Answer 5

Open up an account at a credit union they are way better for loans.

I bought a 97 honda civic in 2004 for $6000.  I put $600 down had a 5% interest rate ( my credit wasnt very good ) and my payments were $147 for 48 months including gap goverage.

Answer 6

Ha!  Good luck!!!

Answer 7

You have to have 1500.00 provable income and be 18 to even think about loan.  cars that are worth only 3-4000 will not be finacable without near perfect credit.  You will be able to pay cash only in your situation. if you had no credit and lived at residence for 1 year and been on same job for 1 year you could with 1/3 down payment get a car for about 7000.00+++ with payments in the 300's. and no it is impossible.  without job you could not get car even at buy here pay here place which requires a down payment in cash of what they paid for car. No matter what someone else writes if they got car they had co-buyer  100.00 payment is about a 3-4000.00 car , then add tax, tag and dealer fee and you get almost 5000.00 which is more then 125.00 a month for 3 yeqars which would not be possible since an old car would not be financed for more then 1-3 years.