What do I need to do as a first time car buyer?

Here is my problem: I just moved to LA, and just landed my first post-college job (tho I%26#039;m 28 years old, and was previously in the military). I have a credit score of 654, and have only been at my job for a month. It pays 40K per year.

I will be looking to finance, and have little other choice but to purchase in the next month or two, and will likely have next to nothing for a down payment.

Please, while I respect all advice, I am looking for an answer to this question, rather than advice on saving up money, waiting until I%26#039;ve been at my job for one year, etc. This is the situation I am in, these are the facts, and I would truly appreciate some solid advice.

I%26#039;m only looking to spend around 12-15K for a newer used or new economy car. Thank you!

What do I need to do as a first time car buyer?

Honda Fit

(base) - $15,385

today cars if well cared for can easily last 150.000 miles

but if not serviced and maintained these areas tend to need repairing or replacement.

* Alternator, 125,000 miles

* Brake rotors, 80,000 miles

* Brake drums, 150,000 miles

* Brake calipers, 150,000 miles

* Clutch, 75,000 miles

* Headlamp, 100,000 miles

* Sealed front bearings, 125,000 miles

* Shock absorbers, 75,000 miles

* Starter, 100,000 miles

* Timing belt, 100,000 miles

* Timing chain, 100,000 miles

If you can afford to buy a new Honda do it.

and yes as soon as the front wheels drive off the dealers lot you car is worth a lot less than it was 5 minutes ago but

you won%26#039;t have to wonder what repairs and or accidents it%26#039;s been through.

Honda Limited Warranty Information

* Bumper-to-Bumper Limited Warranty (years/miles) = 3/36,000.

* Powertrain Limited Warranty (years/miles) = 5/60,000.

* Corrosion Limited Warranty (years/miles) = 5/unlimited.

* Accessory Limited Warranty - All Honda accessories are covered up to 3 years or 36,000 miles, depending on time of installation.

Additional Limited Warranty Information

* Replacement Parts Limited Warranty - Genuine Honda parts, when installed by a Honda dealer, are covered for 1 year or 12,000 miles. Parts purchased from, but not installed by a Honda dealer are covered for 1 year.

My 2008 Fit

(Standard Features)

Base MSRP*: $14,750

Destination and Handling: $635

MSRP as Configured: $15,385

Technical Features

鈥?109-hp, 1.5-liter, 16-Valve SOHC VTEC庐 engine

鈥?5-Speed Automatic Transmission

鈥?LEV-2 (Low-Emission Vehicle)

鈥?Drive-By-Wire鈩?Throttle System

鈥?Front-wheel drive

鈥?MacPherson Strut Front Suspension

鈥?Torsion-Beam Rear Suspension

鈥?Electric Power-Assisted Rack-and-Pinion Steering (EPS)

鈥?Power-Assisted Front Disc/Rear Drum Brakes

鈥?100K +/- Miles No Scheduled Tune-Ups

Safety Features

鈥?3-Point Seat Belts at All Seating Positions

鈥?Front 3-Point Seat Belts with Pretensioners

鈥?Dual-Stage, Dual-Threshold Front Airbags (SRS)

鈥?Front Side Airbags with Passenger-Side Occupant Position Detection System (OPDS)

鈥?Side Curtain Airbags

鈥?Anti-Lock Braking System (ABS)

鈥?Electronic Brake Distribution (EBD)

鈥?Side-Impact Door Beams

鈥?Outboard Lower Anchors and Tethers for Children (LATCH)

鈥?Immobilizer Theft-Deterrent System

鈥?Tire Pressure Monitoring System (TPMS)

What do I need to do as a first time car buyer?

My advice is to buy in March with all of the march madness sales GM is offering 0 % for 60 months and you should not have to much trouble getting financed your credit is not poor but not excellent,you have an average paying job,try to find a co-signer with good credit (ex.parents),one thing that is working against you is you have only been at your job for a month,but beign in the milatary might help and you could get a discount.Look at a chevy aveo, 12-14k for a base model and 5yr/100k mi. warranty.