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Location: San Ramon, Seattle, Anchorage, Reykjavik
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You are in Memphis, where cars don't rust. You also probably won't drive all that much so gas mileage is irrelevant. And you want cheap insurance. I'd find a 150-200k mile Toyota 4Runner with a good maintenance history (as for receipts). Get it checked out (worth the money) and you should be able to find a great reliable car for $2500-3000.
I'm talking about only a few hundred in the bank, no experience driving, moving out on my own for the first time. I need a vehicle, but I'm afraid of getting a used car because I don't want to get something that's just going to be plagued with problems, become a financial burden, and then I have to somehow sell it and drop another few thousand dollars on another one.
I'm afraid of getting an expensive car that I have to make down payments on because I don't want to get trapped into a financial commitment and contract that I'm not prepared to go into only to possibly not find a job where I'm going, and now have to scramble to find a job and pay for a new place to live AND a vehicle I can barely afford, all just to keep from getting delinquent debts and hurting my credit score which would make it even HARDER to get another vehicle AND a place to live.
I've considered a moped or a bicycle, but it seems like there's few places in the U.S. where that is realistic.
Under 25 and no driving experience, you car insurance would cost you more than a car payment would, even if you bought a 2 year old Nissan Versa, Chevy Sonic, Chevy Spark or Ford Fiesta.
Depending on where you live and how often you need--really need--to travel by car, your least burden transportation option could be using the bus and/or Uber or Lyft.
You are in Memphis, where cars don't rust. You also probably won't drive all that much so gas mileage is irrelevant. And you want cheap insurance. I'd find a 150-200k mile Toyota 4Runner with a good maintenance history (as for receipts). Get it checked out (worth the money) and you should be able to find a great reliable car for $2500-3000.
Is the $2500 he needs to buy it going to fall out of the sky?
OP might just have to work and go to school at the same time. Believe it or not, people actually do this.
I worked as a 3rd shift security guard when I went to school. There was no one around and I could do my homework while I was at work.
Good job for a student. I'd work/do homework all night, go to class in the morning, go to sleep, go back to class at night, go to work, repeat.
I worked security on the weekend, too. No days off. I always seemed to have more money than most of my classmates because I had no time to spend it!
And I had a old, dirt cheap car. It got the job done.
What we used to do was buy really cheap used cars. People sell them for whatever reason for cheap if they don't want to deal with the car....I have found that you don't know what is going to happen with a used car. It can last for ages, or not.
I have bought cheap used cars and they lasted for a while. One lasted for years....Conversely an expensive used car broke down the same day, it didn't even make it home.
It is just a suggestion that worked for us, at least for a while.
Nashville is one of the hottest of the revitalizing areas of the south, full of young hipsters working hard and playing hard. If you can find a way to get back into college then go for it! Most jobs you seem interested in require that type of documented self-discipline. As for on-line classes that's great you've done well in these as they are typically more work and project heavy than sitting in a traditional college classroom. You need to get copies of all of your transcripts so you are ahead of the game because "advisors" are not necessarily "knowers." As for your credit score, start paying some nominal amount of rent, and have your folks give you receipts. In lieu of traditional credit cards etc... you need some type of proof that you are responsible enough to be a "risk" should you approach a small credit union or start up bank for a small personal loan (which you can then pay off and begin a new way to build credit). Finally, try to find a city/place to land with good public transportation. While waiting for a bus may be time consuming you can network, make friends, and learn about interesting opportunities. Best of luck, remain open and positive! 🙂
The OP says he only has a few hundred in the bank and people recommending him $6-12k cars.
The only viable option is to get a bike, you can pickup a decent bike for $400-600 that saves gas and you can ride it to work.
For a car, $500-1200 cars do exist and you do need to know how to check and maintain them before getting one.
I have seen very good cars for $800-1500 if you know what to look for and just some general car skills to fix and maintain.
The best bang for the buck are cars that have very good reliability and high miles. This is opposite of people says old cars and low miles because those don't come cheap either. High mileage old cars, if well maintained can be bought dirt cheap.
There are people running a 1990 Corolla with 198k mi for $450 and the thing still runs and gets 38mpg.
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