I'm looking to buy a car.... but.....?

Don't do it.... there are too many "what ifs" in your story and you live off grant money and a part time job and have a child... not a good idea to add another liability to the bills you already have and can't afford.

There is nothing wrong with a car that is reaching 100,000 miles. I own one that is at 177,000 miles. It would never occur to me that it needs to be replaced because of the miles. Keep your current car in good repair, do your oil changes every 3 months and keep up on it's regular maintenance and you can easily add another 100,000 miles to it.

If you finance a car you will have to carry full coverage insurance so that the bank gets their money should something happen to the car and that is very expensive. So you pay the car payment and the high insurance and then what will you do if you need some major repairs?

Instead put some money away for a car repair fund and make sure you have enough to cover even the expensive ones (transmission replacement, etc.) and keep your old car.

nonetheless extremely some individuals do no longer try this, i could initiate purchase suggesting you force a extra much less costly vehicle for some years given your earnings and shortage of credit - bear in mind, shoppers have been given us in this economic disaster, no longer the fed government or banks. come across a vehicle for $4,000, take out a loan and pay it off interior a 300 and sixty 5 days to construct credit and force the vehicle for some years, it is going to lose minimum fee because of the fact it could have already depreciated extensively. you will additionally be waiting to save money with insurance because of the fact in case you very own the vehicle you do no longer would desire to hold collision (try this as quickly as the vehicle depreciates under $2,000), in case you owe on the vehicle you're required to hold the extra costly insurance. in case you % to purchase this vehicle for 10k, you will maximum in all possibility be waiting to guard a loan, yet bear in mind the interest fee would be up given which you haven't any longer any credit (do no longer you have a cellular telephone?), you do no longer % a down charge, yet they might % a co-signer (stay out of this, it is no longer incredibly worth risking a relationship over a vehicle). ideal thank you to verify is to ask a economic business enterprise, yet once you ask diverse banks, do it interior some weeks so the consistent credit checking they are going to do won't harm your credit.