Sup Veeky Forums

Listen to this user

What you want to do is why poor people exist

my mechanic told me it'd be somewhere between a grand or five to put one in depending on where he'd get the tranny from. I bought that shit for a grand, so fuck that.
No clue man, I kept up with oil changes, and didn't drive it as hard as I would've if I was in high school, BUT it did have close to 200k miles on it. No biggie, bound to happen, it was automatic so there's that too. Third owner if that matters.

>$5k for a transmission for a Jetta
A new 6 speed transaxle with an aftermarket LSD for my Boxster would cost me $2500 at the very most, no way in hell a shitbox tranny cost near that much

If you really care that much, get an 8th gen Accord for like $6k-$8k, they really spacious, reliable, and well taken care of cars still drive like they're new

>buys a car for a grand
>wonders why it breaks
wtf is wrong with you?

I'd try to sell my civic for 3k. 2001, 171k miles, needs nothing, clean interior . Find someone like me

do I have the five thousand now?
nope.
do I want to pay five grand to fix a car hardly worth one?
hell nope.

see
You're being scammed

>still in college
>can afford either
I'm skeptical

>anything fun is out of the question because insurance is expensive
I don't think you understand how insurance works

>if I lease, there's nothing good or bad that can happen, it's all covered, easy to pay for, and if I hate the car, I only have to hate it for three years.

Literally nothing about your situation makes leasing a good idea

This guy knows what's up

where you at senpai?

Not for sale, i was just using it as an example. Just find someone slightly autistic about their cars

man if I bought a car for a grand, and it lasted close to three years I made a good decision. shit was super clean, a year newer, and had 60 thousand miles less than your civic.

also, fuck your peasant ass civic. who the fuck is going to pay three grand for a car with that many miles man? I don't know where you're from, but round these parts that many miles means rust.

>drives a $1000 Jetta
>can't afford a replacement transmission
>calls a Civic a peasant car

You know what? Go ahead and lease a brand new car, it's the perfect option for you

No rust. Was in texas/kansas then kentucky then south carolina.

you sound like someone who has their mind made up, if you already know what works, why change?

Shut the fuck up and buy a civic

>new
>leasing
>leasing a new car

Please user, I can only take so much

He's an idiot that won't listen to reason, let him live a life of debt and poverty

i mean i guess there have to be poor, stupid people to make the rest of us look rich and wise

Get a manual (automatic is good too, if that's what you want) Civic in the $5K-$10 range. Take out a loan if you must. You will have a perfectly fine car and not spend your life working just to pay for a car to drive to work.

>taking out a loan for a 5K Civic

dear god guys, please, just stop....

Man I made this thread with the intention of finding out whether leasing or financing was a better option.

But ok let's do this shit instead.

>drives a $1000 jetta
yeah if you found a clean jetta, with no issues for a grand wouldn't you buy it too?
My intention with the thing was to drive it into the ground, and buy/lease something better once I had the money.

Now when I bought that car, $1000 was in my budget and made since. Even then I wouldn't put $3000 on a civic with significantly more miles.

>can't afford a replacement transmission
5x the cost of the car to fix it
FIVE TIMES THE COST OF THE CAR TO FIX IT
man if you had to pay six grand to fix your honda would you?

if I had five grand I wouldn't fix it, I'd do what I'm doing with the three grand and putting into something else, it just makes more sense.

>calls civic a peasant car
yep
jetta's a peasant car too
man I don't even want to lease, but I love the idea of my car being fixed for "free"

You're not actually listening to what we're saying

Neither leasing or financing are good options for you
And it shouldn't cost $5k to fix your Jetta

He said he doesn't have $5,000. Paying that plus some interest on a car that runs just fine is better than borrowing $15,000 or however much the Accord costs.

what fucking part of "you are being scammed" do you not understand?

you came to this board and asked for our advice. good advice has been given to you- far more than Veeky Forums usually gives to slackjawed morons of your capacity.

buy a civic and fuck off.

Ok, on the off chance you aren't trolling and actually want legit advice, let me throw some knowledge at you from a car salesman who has sold hundreds of cars:

-Leasing: only makes sense if you are writing the car off under your business, dealing with a high end luxury car, or in teh US on a work visa and you need to a car for 1-2 years before you fly back to Euroland.

For anyone else, leasing is stupid, it's like taking a mortgage to rent an apartment. Yes, dealerships throw lots of fun incentives at you up front ot make it look appealing, but unless you are one of the three scenarios I described above, leasing isn't for you

-Financing: If you are in college with little to no credit history, then this likely isn't the route for you either. As a good rule of financial practice, your car payment should never be any more than 20% of your gross monthly income. If you have to pay your own insurance, that figure SHOULD also include your insurance premium.

That means if you gross 1000 a month, your car payment (plus insurance if you pay it yourself) should be no more than 200 dollars. For most college kids, but not all, financing a car is too large a burden. Do you have any idea what your credit score is? Any idea what sort of APR you would qualify for? Have you ever negotiated for a car sold from a dealership before?

-Use of the phrase 'peasant car': Shut the fuck up and stop acting like an entitled millennial

-Jetta/transmission/blah: A quote of 5 grand to replace a transmission on a Jetta is ABSURD. AT THE MOST a reputable shop would quote 1500. Getting a decent local transmission shop to swap you in a junkyard unit would run well under a grand. Do with that information what you will

When a mechanic gives a bogus estimate it means he doesn't want to do it. A new (reman, not used) trans for a shitbox should be no more than like 1700 installed.

>-Use of the phrase 'peasant car': Shut the fuck up and stop acting like an entitled millennial

guys who honestly thinks I'll be "spending my life paying for a car"

just telling me to buy a civic isn't reason, the whole reason I don't want to do that is because I want the reliability of a newer car. How does this not make sense? Also I realize I spelled sense like since in my last post, feel free to shit on me.
I don't like the idea of leasing because I won't see the money again, at least if I finance OR BUY A FUCKING CIVIC, at least in a perfect world I end up with a car that I own, and can turn into more money.
I meant to address this earlier my bad. If you're keeping a car outdoors in the north east united states that shit will rust. Most used cars over 100k miles here will without a doubt have rust, garage kept maybe being the exception.

Look if I can try and keep the thread on topic, I don't want to lease, but it seems easier, and safer.

but the scary part for me, whether it's buying a civic for three grand, or financing the accord, if either breaks, and fixing it costs a lot, I land myself back here.

> Still in college.
> Thinking about buying a brand new car

A used Honda will be just as reliable as a new one AS LONG AS YOU FUCKING MAINTAIN IT

Why are you worried about something breaking? You have a job so you should be saving money every month for an emergency fund.

LPG!! I come seeking advice!!

Where should I look around for a auto loan? I want to get a sub 8k loan for a car, I have a part time job where I work a various amount of hours(every week its different). Should I always lie and say I work 25 a week? Would I be better off with a credit union? My credit score used to be 740, but recently dropped to 688. These fico scored were provided to me through my bank.

>I don't like the idea of leasing because I won't see the money again, at least if I finance OR BUY A FUCKING CIVIC, at least in a perfect world I end up with a car that I own, and can turn into more money.

Again, financing is only viable if you can actually afford it, which so far as I know, you can't (because most college kids can't). What do you gross a month? What's your credit score? How stable is your employment? Do you have a plan for making the payments after you graduate if you don't find a job right away?

Again, the general rule of good financial practice is to only finance if you are going to spend 10K or more. For anything under 10K, you should either need to be able to afford it cash, or not buy it at all

See above. It's generally considered bad financial practice to take a loan for any amount under 8K. So to start, bump your budget up to 10K. As far your score, what is it really? There is a big difference between 740 and 688. What caused the drop? Also, do you have something like Credit Karma? If so , what does it currently report your score as?

As far as employment, don't lie. If your score is 688, the bank is going to call your place of employment to verify your position and your hours. Lying will only result in much pain for you later.

Credit Unions are the ideal place to start looking for someone in your position. They offer far better terms than conventional banks and better terms for first time buyers. Also check online sources such a BoA, Roadloans, and Capital One-(Cap 1 also has decent terms for people with weaker credit)

Its currently 688, I don't have any other credit checkers. My bank is wells fago. I have protect my ID but they don't show my credit, only protect against fraud. And I wanted to keep it under 10k cause i wouldn't think I need so much, I just wanted to buy a clean as shit classic car. Could I just pay back the money with the loan that I didn't use?

My guess for the drop is that I used my credit card after paying it all off. Yet, my bank raised my credit limit to 2k from 1.

Thanks for the advice, I didn't want to go somewhere they would try to fuck me with a high APR

1.)Get credit karma. I use it myself, it's totally free, and you get a new score every 7 days. I also get scores from my credit union every month on my statement, but CK is a great additional resource, and can actually help you pinpoint things that are causing changes in your score

2.)A 10K loan vs an 8K loan is really only a difference of about 30 to 40 dollars a month depending on APR, but believe it or not, will open up a drastically nicer segment of cars for you to shop in man. If you really don't want to finance more than 8K, save up enough to put 2K down, and still shop for cars that are around 10K.

3.)With your score, it should be possible to get around 5% APR through a credit union if you have access to one

really? Fuck thats not much of a difference. I just figured I would better have a chance to get the borrow if I ask for less.

I do not, should I look around and open an account? Do they usually ask for some money to put in or something like a bank? Or is it a sign up and go?

just signed up for CK and holy fuck this is a useful resource! I was always afraid my data could get hacked from here or someshit, or that it wasn't that legit

Credit Karma doesn't give you your real FICO score, it is only an approximation. If you want to know your real score and play with it like you can on Credit Karma you need to pay for the real score from myFICO.

I have a Discover card that gives me my score every month for free.

Building credit is never bad, since the guy is in college it's not like he's going to have a lot of history

You realize if you get a loan on a car you are going to have to pay for full coverage insurance right?

It's a great resource, make good use of it. And usually a credit union is going to want some sort of minimum amount like 50-100 dollars that you deposit into a checking account ot get started

No, it gives your transunion and equifax, and it is damn close to your FICO unless you have weird shit on your credit. My Credit Union provides my FICO every month on my statement, and it's within a few points of my scores on Credit Karma every time. It also pays to keep in mind different sources pull from different reporting agencies. My credit Union pulls Equifax exclusively, but Old navy only pulled Transunion for my credit card through them

Building credit IS good, but you want to go about it in a smart way

WF gives me my FICO score, but this is also pretty helpful.
No I did not, but my premiums have gone done so thats not too bad

I don't believe you are correct about Credit Karma unless they have changed in the last year. They used to at least use their own algorithm.
You're also going to need money for sales tax, licensing, etc. depending on your state.

he's right, i use it to, they pull direct scores from transunion and equifax. fico uses an algorithm to combine your score from all 3 agencies, equifax, experian, and trans unions for one super score, which you either have to pay for or have a bank that runs it for you

Interesting, didn't know they changed from their algorithm last I used it. I may have to give it a try as I wasn't impressed with how it worked last time.

But FICO doesn't combine the three scores I'm pretty sure, last time I used myFICO it gave three different score types for each credit agency. Also every loan I've ever applied for only used one credit agency+score at a time.

Miata you fucker.