- 4 years ago
- Wedding: October 2014
FYI I have friends who drive their old cars from the late 90s, early 2000s and they work just fine. I drove an old 98 chevy before I bought my current car. It cost $17K before taxes, so by your standards it’s a crap car, but I bought it new and that’s all i could afford at the time…with a steady income that was a few times more than the price of the car.
Fwiw my fi and I make a good salary combined, and have 6 months expenses in the bank and we still drive one 8-year-old jeep between us, because it’s paid off. We can make do with one car and while a new car would be shiny and fun, money is better, and $0 car payment is better than having less money and a shiny car.
How many applications have you put in? How soon do you need a car?
“Transportation comes in different forms – which include walking, public transport, all the way to the fanciest car in the world. I think you need to line up your expectations with your current situation. And also, stop getting so caught up with what other people have in their savings, it’s irrelevant here.”
I actually tried using the public bus for a full year to get to class. I live 15 mins away from school. It took an hour to get there with the bus. I would have to wake up at 6:00 am every morning for my 8:00 am classes. The busses were always late. The drivers were rude. The worst problem of all was the lack of safety. Many times I had men approach me and making me feel uncomfortable. Maybe it’s different where you live. I know NY and Boston are good for transportation. I am in Florida, and our system here sucks. If I got a job that was 30 minutes away it would probably take me 2 hours to get there one way by bus. It severely limits my job options. That is the main issue. It has nothing to do with me feeling like I deserve a fancy car or anything. Currently, I rely on my boyfriend for transportation and it’s still difficult, it will not work for us on the long term, especially if I get a job that is further away from his.
I don’t have “standards”. I just don’t want to buy a cheap car because that’s all I can afford in cash and in 2 years it doesn’t work anymore because it was used or not good quality. That’s really it. How long did your car last you?
Have you name put on your power and water to build credit. Also google it. I am sure you can find some good advice on google.
I need a car in 2 years. The reason why I am trying to do this so much in advance is because I read it takes 3-7 years to build credit. Really, I should have started much sooner.
I have no idea what your banker was thinking. Chase Freedom is not a starter card, especially for someone with no income or credit history.
You’ve gotten great advice here, and you really need to slow your roll and do some research on what credit is and how it works.
And in terms of cars – my car was $12000. It was two years old when I bought it used and it has been going strong for nine years now. A 50k car is not normal, especially for a first car. You don’t even know how to drive or have your license yet, per your previous posts, so I don’t know why you’re so fixated on buying an expensive car.
May I suggest you start reading the forums on http://www.creditboards.com?
It’s an excellent resource for all things credit–from building to rebuilding. There is even a board related to auto financing and another for credit cards.
I think they will be able to help you a lot
And yes, I agree with PPs, you can get a great car for much much less than $50k. Buy a Toyota or a Honda, they’re very reliable. You could get a great used one for a fraction of your savings.
I do still think that you should try for the secured card. What’s one more inquiry at this point? It’s likely that many of those inquiries haven’t even hit your credit report yet.
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