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Hit a little life snag
Bucketman
Call meSkraggRegistered User regular
Call meSkraggRegistered User regular
So some of you may remember a year or so ago I was asking for advice about my living situation and my GF and some other stuff. Well that all concluded. I moved back home with my dad got 2 good jobs and started going to school. Things where great, I was paying off my debt and doing good in school and got to see all my old friends. Life was enjoyable again.
Until last Saturday.
On my way to work on Saturday morning my car broke down. The Transmission went out. Lo and behold this I found out one of the problem I have had since I got the car was actully the tansmission and not what I thought it was. (basically this was inevitable). So now I have no cash, no way to work (there is no public transportation out here) and there is no one who can help me.
So i've been tossing ideas around the last few days and so far the best thing I could come up with is going to my bank and seeing if I could get a small personal/student loan out to get either a new car(well new used car) or fix the tranny in my current one. The only snag here is I don't have very good credit (due to my past few years of trouble) and I don't know if I anyone I know has good enough credit/is willing to co sign for me.
So H/A I was hoping I could get your opinions on my current situation. What should I do? Am I on the right corse? Thanks in advance.
Until last Saturday.
On my way to work on Saturday morning my car broke down. The Transmission went out. Lo and behold this I found out one of the problem I have had since I got the car was actully the tansmission and not what I thought it was. (basically this was inevitable). So now I have no cash, no way to work (there is no public transportation out here) and there is no one who can help me.
So i've been tossing ideas around the last few days and so far the best thing I could come up with is going to my bank and seeing if I could get a small personal/student loan out to get either a new car(well new used car) or fix the tranny in my current one. The only snag here is I don't have very good credit (due to my past few years of trouble) and I don't know if I anyone I know has good enough credit/is willing to co sign for me.
So H/A I was hoping I could get your opinions on my current situation. What should I do? Am I on the right corse? Thanks in advance.
Bucketman on
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Are you a member of a credit union? If not, could you join one in your area? I found in my experinces CU are more leniant and have better rates for getting a car loan.
Also, what about a motorcycle? They can be cheap, and yet allow you to get around quickly so you don't have to clean up for work. Depending on your current weather, of course.
Yeah, I should mention I live in very rural area. I have a bike but it takes me over 30 minutes to get to either job by car. And one of them starts at 4:30 in the morning.
Go get a quote on the rebuild and then see if buying a new used car is a better option.
You should bring:
Check Stubs (last 2 paychecks)
2 forms of ID (just in case)
You should know how much you make a year (w/o taxes)
You should have a general idea of what your expenses are. (Rent, credit card bills, school stuff). Besides your credit, a lot of loans are based on what your expenses are vs. what you make a year.
My mother worked as a loan officer in a credit union, and the aforementioned things are what she always made me bring/know. Best of luck.
If your car isn't too terribly old, you can use it as collateral for it's own repair bill. Bring your check stubs, a couple of ID's, and clean yourself up nice when you go in. Don't go asking for money in tattered jeans and a tshirt. Get 2 or 3 estimates so you have a solid idea of how much money you actually need and don't borrow any more than that.
You'll want to be fairly certain, also, that nothing else vital is on the verge of crapping out on the car. Borrowing money to repair it and having it break again right away won't go over well. If there's anything else that urgently needs repair and won't be outrageously expensive, it may be worth seeing if you can get enough to cover that as well.
At the end of the day, the worst that can happen is the bank says no, so you might as well try it.
Also, ask your dad if he'd co-sign. That would probably take care of everything.
If all else fails, a 30 min bike ride sucks but it beats losing your jobs and dropping out of school. As a side-effect, you'll be in great shape with an hour+ bike ride every day.
The limed part is really important too. Dress up like a job interview. You gotta impress them.
EDIT: missed your most recent post. that's too bad : / There's a chain in the midwest called Carhop that sells used cars, and lets you set up payment deals relatively easily. Is with what the Buy Here Pay Here place is about?
water spirals the wrong way out the sink
Yeah pretty much, its places that advertise "No Credit? Bad Credit? NO PROBLEM!" that kind of place. Shitty prices and shitty rates..but you gotta take what you can get.