Hello,
Yesterday my car broke down and I am not prepared financially to make a purchase but I need to act quickly in order to have a vehicle to go to work. I have a few different options that I'm exploring but I would like to hear your opinions on my options. My head gasket is blown which is not fixable. So it is out of the question to fix my car.
Background: I have a credit score of 667 and I make about $2,200 a month with about 1000-1300 in total expenses per month. I have a good driving history over the past 5 years.
Here's what I am thinking of doing
*(1) borrowing a family member's car for 1.5-2 months to save up roughly $2,000-$3,000 for a down payment on a car ranging from $5,000-$7,000. *(2) buying a car for $2,000-$3,000 to avoid financing *(3) Using the $2,000-$3,000 for a large down payment on a lease.
I want something reliable but I also don't want to get wrapped up in big monthly payments + car insurance. But, I cant afford to buy a car and pump money into fixing it within the first 3-6 months.
My head is kind of spinning since this happened so if there are any details you would like to know just ask me I will respond as quickly as I can.
Thanks for your time.
Submitted March 30, 2017 at 01:41PM by etmsphr http://ift.tt/2ofqimn
