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I am 17 and I’m hoping to get a job this summer but to do that I would have to have a car… I can start saving money from babysitting and tutoring now but I was wondering what the lowest amount I could expect to pay for a used car would be. I don’t need anything fancy, just an automatic cause I can’t drive stick, but other than that I’m not picky at all. Also, I don’t mind paying in increments but what’s the minimum amount I should save?

2 Comments »

1. 

   OK, at age 17 you cannot legally own and insure a car until you are 18. Also, getting a loan for your first car with little to no credit history is damn near impossible unless you want a high interest risk loan that in the end will bite you in the butt. I myself would save at least $3k for the car & have another $1K ready for insurance and immediate repairs. Good cars cost money & I mean a lot of it. Beaters are cheap, but they nickel & dime you to death in repairs. There is no minimum per say. It’s the best car you can get for what you have saved up.

   Comment by The Eagle Keeper — March 21, 2011 @ 9:04 am

2. 

   $3000 is about right.
   you can buy lots of good used cars from private owners for 3000.
   you should start shopping now that is how you learn prices and models ,etc.
   it is fun to look at Craigslist everyday to see what is for sale in your area.
   and then if you google "edmunds.com" you see reviewas , miles per gallon etc of any car.
   if you use their " appraise my car" option. you can put info in and see what they think the car is worth.
   and dont buy a car 180,000 miles on it, try to stay to 130,000 at most. and not older than a year model 2000.
   if the car has new tires that will save $400 later on.
   but go look at craigslist so can become informed and then research cars that intrest you.

   But in Dallas the car dealers have trashed out the craigslist site . but you can still look.

   So google "auto trader" and the put in your info ,like year model , maximum price $3000 and select used cars and then select " from private seller.

   i just did that and saw a few cars that fit your budget, like a little neon with good tires , A/C everything working for 2600. but it had 160,000 miles on it.

   good luck.

   Comment by Mark — March 21, 2011 @ 9:04 am

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