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Started By
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How would you advise a genuinely broke person regarding buying a car?
Posted on 5/30/17 at 2:42 pm
Posted on 5/30/17 at 2:42 pm
Person has zero dollars. Person has zero credit. Person has a paying job, but has recently lost transportation. Almost zero family resources. None of the family has an extra car, or can really help drive back and forth to work...
What option is there other than getting ripped off purchasing something with a ridiculous interest rate...
What option is there other than getting ripped off purchasing something with a ridiculous interest rate...
Posted on 5/30/17 at 3:06 pm to AUjim
Public transportation for a few months until cash saved up!
This world is going to shite because so many people lack common skills like initiative and personal responsibility.
This world is going to shite because so many people lack common skills like initiative and personal responsibility.
Posted on 5/30/17 at 3:21 pm to AUjim
If work is close enough get a bicycle. Zero dollars isn't much help.
Posted on 5/30/17 at 3:40 pm to BeerMoney
Any coworkers they could car pool with - pay gas money for pickup / drop off?
Posted on 5/30/17 at 4:32 pm to AUjim
Sounds like they need to hit Goodwill and get a 10 speed.
Posted on 5/30/17 at 4:39 pm to ItNeverRains
Bike isn't really an option due to how far work is in addition to other family transportation responsibilities… Significant other and children
Posted on 5/30/17 at 4:44 pm to AUjim
Unfortunately, if they don't have any cash or anyone to help them out at a reasonable rate - taking a loan at a terrible interest rate is about the only option here.
Poor people get railed during times of desperation. What kind of people do they know? Would something like gofundme be a decent option for them to get $1000 for a beater?
Poor people get railed during times of desperation. What kind of people do they know? Would something like gofundme be a decent option for them to get $1000 for a beater?
Posted on 5/30/17 at 6:18 pm to tlsu15
Yeah OP could lend him $1000.
I'm sure the guy could afford $100 a month payment.
I'm sure the guy could afford $100 a month payment.
Posted on 5/30/17 at 6:23 pm to cjared036
But then there's gas and insurance at the bare minimum
Posted on 5/30/17 at 6:38 pm to AUjim
If I liked them I would buy the car they need and sell it to them with owner financing at a reasonable interest rate.
Posted on 5/30/17 at 7:03 pm to AUjim
Does this person have cable/cellphones/any other monthly expense that can be cut? Sell any non-necessities on Craigslist. Scape together any other cash. Buy a beater. Deliver pizzas in the beater for extra cash. Sounds like this guy needs a Dave Ramsey book.
Posted on 5/30/17 at 8:01 pm to Ric Flair
only real option if he has to have a vehicle is some fly by night buy here pay here used car lot. If someone as big as Car-Mart thinks he's not a big risk by their standards (which is low), they may take a chance on him for as little as 500$ down on something they've had on the lot for a while. But a lot of fly by night car lots will put you in a clunker for $500 down, which is about half the wholesale value of the vehicle, and take 200$ per month for a couple years. Of course no one finishes the term before the car breaks down to parts value, but it might buy him a few months of time to get something better.
This post was edited on 5/30/17 at 8:06 pm
Posted on 5/30/17 at 8:30 pm to AUjim
Save up and pay cash for a shite car
Posted on 5/30/17 at 10:28 pm to blzr
How do they save up if they can't get to and from their job?
Posted on 5/31/17 at 5:55 am to AUjim
quote:
Bike isn't really an option due to how far work is in addition to other family transportation responsibilities… Significant other and children
Nor is a car based on the parameters you've given. Guy needs to go to one of those job is your credit places and buy the cheapest thing on the lot. He's gonna pay a shite ton of interest. Nobody in the family can loan this guy $ to buy a beater?
Posted on 5/31/17 at 7:18 am to AUjim
Find another job closer to home that doesn't require a car.
Posted on 5/31/17 at 8:46 am to AUjim
I assume he lives in the semi-rural Deep South, since in most other parts of the country he could rely on public transit. He needs a short term solution while he works on the longer one: he needs a carpool, stat. Ask around at work, or in the building, or at nearby businesses. He may be able to walk/bike to a pickup spot, where someone going in his direction will take him the rest of the way to work. Think of it as "assisted hitchhiking". Depending on his locale, he might find a carpool through craigslist or social networking. A post on FB describing his route to work w/a request for friends/family to share might generate a ride....
Which brings us to the longer term solution. He needs to cancel all non essential repeating bills: landline, cable, whatever else he's paying every month that's not utilities/rent/heath insurance/food. Then he needs to find supplemental work...he's not going to make this happen on his primary income, so he needs a side hustle. Bartender, grass cutting and weed pulling, tutoring, swimming lessons, odd jobs/carpentry, house or office cleaning, pet sitting, etc. There are a slew of things you can pick up to make a little side cash.....plus, everyone in the household needs to be contributing. Significant other, kids old enough to work: no one should be sitting on the couch, everyone should be contributing to the support of the household during this push to re-establish reliable transportation.
Many of us have been in this situation, and we often pulled through with a combination of busting azz and a little help from friends. We also learned to spend carefully, to trade wants for needs, and to help out others who might be in a similar spot. You sound like you might be in a position to help him a little bit--
Which brings us to the longer term solution. He needs to cancel all non essential repeating bills: landline, cable, whatever else he's paying every month that's not utilities/rent/heath insurance/food. Then he needs to find supplemental work...he's not going to make this happen on his primary income, so he needs a side hustle. Bartender, grass cutting and weed pulling, tutoring, swimming lessons, odd jobs/carpentry, house or office cleaning, pet sitting, etc. There are a slew of things you can pick up to make a little side cash.....plus, everyone in the household needs to be contributing. Significant other, kids old enough to work: no one should be sitting on the couch, everyone should be contributing to the support of the household during this push to re-establish reliable transportation.
Many of us have been in this situation, and we often pulled through with a combination of busting azz and a little help from friends. We also learned to spend carefully, to trade wants for needs, and to help out others who might be in a similar spot. You sound like you might be in a position to help him a little bit--
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