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I have til Monday to buy a car...

The insurance company finally got to my paperwork (with a little nudge)...but theyre getting ready to finish everything and fax me my paperwork to pay off the car. I may end up with 500 after they payoff my car! However...I only have until the 4th (thats when they take the rental back) to buy a new car. I have no money to put down, and my mom may not want to co-sign for me again...however my loan was in good standing...im so stressed now!!! i have less than a week to start ALL over again....If i dont find a car i wont have a way to work or to my doc. apointments!!!

 
Anonymous

Asked by Anonymous at 1:30 PM on Dec. 29, 2009 in Money & Work

This question is closed.
Answers (5)
  • I don't agree that a $500 car would be such a good idea. Rushing a car purchase is not a good idea, however is doable. When my van was totaled I had my new car by the end of the weekend, because I had been thinking of getting a new car anyways. Use the $500 for a down payment. You said your loan was in good standing so most likely you can get another car loan without your Mom, your choices just might be limited.
    kc932

    Answer by kc932 at 3:59 PM on Dec. 29, 2009

  • Find a used car that you can afford on Craigslist.
    rkoloms

    Answer by rkoloms at 1:44 PM on Dec. 29, 2009

  • I don't think parents should ever co-sign for their adult children. If they don't have the money they shouldn't even consider getting a car until they have money saved up. It risk's the parents credit rating if adult child defaults on the loan. Not a good thing.

    Anonymous

    Answer by Anonymous at 1:51 PM on Dec. 29, 2009

  • If you are getting back $500, then buy a $500 cash car. It doesn't need to be fancy, it just needs to get you to work and back. When you save enough money to buy a nicer car, then you can reward yourself with a nicer car. There are lots of good older cars out there.
    Anonymous

    Answer by Anonymous at 2:22 PM on Dec. 29, 2009

  • Can you find another mode of transportation until you can afford more of a down payment?

    Taxi
    Bus
    Pay someone else to drive you places
    walk
    etc.

    A rushed car purchase can NOT be a good thing.
    Anonymous

    Answer by Anonymous at 3:03 PM on Dec. 29, 2009

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