I shared here that Dave says that instead of making payments (if you could even qualify without a credit history), just use the down payment and buy the best car you can.
You should be able to get a car that runs and drives for $2,000, but I cannot find a single 1996-2000 Civic on Craigslist. I didn't find any Corollas or Camries, either. When I widened it to any Toyota 196 or later I found this:
2000 Toyota Sienna minivan free canoe and Thule roof bar with purchase for $1,000.
Grab a square-nosed shovel, drive it to the dump, shovel out the back, and drive to a car wash.
Maybe you can get something for the roof rack and the canoe.
It would make the wrong kind of boat tail.
The best Accord I found was this 2000:
2000 Honda Accord - $1,800
I sure hope the Sienna gets worse fuel economy and it is a weird 2-seater, but the Accord is salvage--not restored salvage, just salvage.
As I recall, those aren't legal to drive.
I had one, while I restored it.
Quote:
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Passenger rear window does not roll down, driver side door key hole is jammed only able to be unlocked from passenger side. Needs a new battery
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Maybe there are other vehicles for $2,000 or less, but you should still be able to find something.
Then Dave would have you put that $490.48 payment in the bank and in 5-6 months you would have another $2,000.
Sell your beater for what you paid and buy a $4,000 car.
Here is a
2008 Toyota Prius with 190,000 for $3,900
After that I would say invest the rest, but Dave said to keep saving and then say sell your $4,000 car and with another $4,000 you saved in 8-9 months you buy an $8,000 car. Repeat until you can pay cash for a new car.