Can someone talk to me about buying a car for the first time in your name?

Okay, I am in college and work two part time jobs... My old car is still in working condition but I think with all the driving I do I need to get something newer. I was looking at 2002-2005 Jeep Liberties and the price is between 8 and 15 thousand... I make about $10,000 a year from my jobs but on top of that I get $18,000 from my school. So that%26#039;s over $20,000 a year that is my money to pay rent, gas, food, etc... I have been saving up and was thinking that I could put a $2,000 down payment on a car this summer... But I don%26#039;t really know about buying a car in your own name and how you get approved and etc.. Let%26#039;s say the car I get is $12,000, even though I make $28,000 a year I%26#039;d probably still have to have someone sign for me since I can%26#039;t show the scholarships and etc right? And what would my finance rate probably be? I have 16 months of credit history with 0 late payments on anything. Basically, what is the best route to go? Aside from paying full cash cause I cant do that.

Can someone talk to me about buying a car for the first time in your name?

I%26#039;d keep driving the beater until I could pay cash for my next car. I wouldn%26#039;t get a Jeep Liberty cause they are pretty low on reliability. If the car you have now runs and doesn%26#039;t eat you up on repairs then keep driving it and save the equivalent of a car payment each month - soon you%26#039;ll have enough to pay cash.

Remember that just because you have to pay $300 one month for a car repair doesn%26#039;t mean the old car is expensive. A car note on a new car is going to be at least $300 EVERY month. Older, paid for cars rule!

Can someone talk to me about buying a car for the first time in your name?

I would first go with a Honda CR-V or Honda Pilot because they are both better on gas and more reliable. In the case of the CR-V, it is also less expensive.

Your interest rate will be between 6-8%.

I personally would try to get something a bit older, less than 10k, and put 2k, down. You don%26#039;t want to finance too much because the payment will be high and that will be another headache you will have to go along with school, jobs. Try to focus more on your schooling.

When you get out of school and get a good job, get a nice, USED car.

Never buy a new car.

Can someone talk to me about buying a car for the first time in your name?

If you can, pay in cash. Do not take out a loan. If you do need to take out a loan, find the bank and get preapproved for your loan first. Also, when you first walk in to buy a car, the salesman will ask how much a month you can afford. This is where they get you, because they will draw a loan out as long as they can to get you approved. Walk in and state that you are looking for a midsized car, truck, or whatever you want in a certain price range, and never buy a car the first day you look. Make sure that you visit multiple dealerships and view various different types of the specific car you are looking for. (SUV, CAR, TRUCK, ETC) Last but not least, know the MSRP of the specific type of car you are looking for.

And I recommend going for a hybrid! lol. I loved my prius, but I wrecked it.