Jump to content

Menu

Teen needs a (really) cheap car. Ideas?


Jenny in Florida
 Share

Recommended Posts

My son paid us $1000 (about half of what would have been the likely trade-in value) to take possession of my old car when I bought my current one about a year ago. Three weeks ago, he rear-ended someone on the highway (was probably following too closely, but it was also a construction zone AND rush hour AND the person in front of him stopped suddenly). He and his girlfriend, who was in the passenger seat, are fine, but the car was a total loss.

 

He's in college and working a couple of different part-time jobs, and now that I'm working full-time, I just can't be on call to drive him all over town, even if I thought it was appropriate to come to his rescue under the circumstances. So, for the last couple of weeks, I've been pitching in with rides occasionally when it doesn't cause me too much inconvenience, and he's been burning through money taking Ubers. (The bus system here is not great, doesn't run at many of the times he needs to go places and doesn't get within anything like a reasonable walking distance of some of the places he needs to go.)

 

By cleaning out his savings and borrowing a bit from us, he has scraped together $2,500, and he/we have been scouring the town for two weeks trying to find something he can afford that has a decent chance of running safely and reliably enough to get him around for a year or so while he saves up enough to replace it with something better.

 

Thus far, we have completely struck out.

 

We have made multiple trips to the two or three brand-name, reputable dealerships that occasionally have one or two vehicles on their lots in his price range. We have contacted a few private sellers regarding listings from NextDoor and Craig's List and Cars.com. He has put the word out through Facebook and with assorted friends in person about what he is looking for, and my husband and I have done the same through our own friends and co-workers. Last week, we were desperate enough to visit a couple of the small, side-of-the-road buy here-pay here lots. Thus far, he has test driven four or five cars, of which two seemed worthy of consideration. We took each of those to a mechanic I used for several years, and both flunked inspections in a big, big way. 

 

Please understand that, given my son's budget, we don't expect to get anything pretty or new or even close to "good." We're just looking for something that isn't actively unsafe or 80% or more likely to leave him stranded on the side of the road  in the middle of the night.

 

The first car came back from the inspection with a list of more than $1,300 worth of necessary repairs, several hundred dollars of which were immediate safety concerns. (I asked the mechanic if he would let his kid buy the car, and he laughed and said, "No way!")

 

When we took in the second one, the shop called me before we even managed to walk across the street to get a snack. They refused to even charge me for the inspection, because they found so many catastrophic problems in the time it took them to pull the car into the bay.

 

And those were the cream of the crop so far. 

 

We are not really car people. I mean, I like cars, and I'm capable of checking fluids and adding oil and doing minor stuff, non-engine stuff like changing tires, but in terms of actually knowing enough to judge the condition of a car or to take on one that needs lots of upkeep, just no. (My son might actually be less competent in this arena than I am, and he has neither the time nor the energy to make a project of learning.) My husband is no help, either.

 

So, at this point, I'm stumped. 

 

We could take a little more money out of savings to boost the budget a bit, but given that my son is already cleaning out his savings and doesn't always get enough hours to cover more than gas, tolls and his share of the insurance, I'm extremely hesitant to have him take on more debt, even when he'd be owing it to us. And given that we already gave him a sweet deal on the previous vehicle and it was his fault he no longer has it, I'm not inclined to ride to his rescue with money in the form of a gift. 

 

As long as he's having to take Ubers a few times a week, he really isn't able to save any additional money to add to his budget, either. 

 

Please tell me there's some avenue we haven't explored? Some magic door we haven't opened? The kid needs transportation, and I need to be able to be done with worrying about this problem and with devoting my weekends to pointless and desperate shopping.

 

  • Like 1
Link to comment
Share on other sites

I mentioned this on another thread recently, but when my dd and her dh first returned to the US (after living on a shoestring in Central America), they had next to nothing in savings, but really needed to have a reliable car.  They ended up leasing a car at $165/month.  It's brand new, and has been the perfect option for them, a real life-saver.

 

If your ds were to do something like that, he would be able to afford $165/month for about 15 months.  (Of course that doesn't count insurance and gas.)  He wouldn't be able to sell it in the end, but on the other hand, he probably wouldn't be able to sell a really cheap used car for much either.  Maybe in 15 months he'd have a job so would be able to continue the payments?  I think typically they are 3-year leases.

 

Just a thought.

 

ETA:  You probably have to be a certain age to lease a car.  So if you did this route, you might have to lease it under your name?  Not sure how that would work.

 

 

 

 

Edited by J-rap
  • Like 6
Link to comment
Share on other sites

I mentioned this on another thread recently, but when my dd and her dh first returned to the US (after living on a shoestring in Central America), they had next to nothing in savings, but really needed to have a reliable car.  They ended up leasing a car at $165/month.  It's brand new, and has been the perfect option for them, a real life-saver.

 

If your ds were to do something like that, he would be able to afford $165/month for about 15 months.  (Of course that doesn't count insurance and gas.)  He wouldn't be able to sell it in the end, but on the other hand, he probably wouldn't be able to sell a really cheap used car for much either.  Maybe in 15 months he'd have a job so would be able to continue the payments?  I think typically they are 3-year leases.

 

Just a thought.

 

Given that he's 19 and working only part-time and has no credit record, no one is going to lease a car to him in his name, even if he could afford that much per month. 

 

Thanks for the out-of-the-box thought, though!

  • Like 2
Link to comment
Share on other sites

Yes, I'd consider maybe using the $2,500 as a downpayment (and/or saving some of it to make monthly payments) on a good used car or a new car of the most basic model of a reliable make.  

 

If you really want him to buy something for $2,500 cash, I'd look for private sellers who are old people.  They tend to drive more carefully and are less likely to have worn out the brakes, transmission, engine, clutch, etc.  My dad always bought cheap cars (usually a good deal less than $2500!) and they were often great deals, but he had been a used car salesman in his youth and knew what to look for.  My first car was a plymouth voyager, I think, that he got for less than a thousand.  When it was totaled by a falling tree several years later, the insurance paid $1400!  Dad was pleased. :)

  • Like 5
Link to comment
Share on other sites

Could he start building credit so at least this isn't a permanent situation?

 

My best friend in high school bought a Toyota Corrola used for about $2k with a loan; she had a part-time job at Target and obviously no credit. Her payments were maybe $120/month. I am not sure if her mom cosigned on the loan, but she wasn't really the type to do so so my friend might have just gotten the loan herself, I am not sure.

Link to comment
Share on other sites

If he can afford to save for a year to replace a $2500 car with a better car, he can probably afford to make $150/month payments.  Alternatively, he can just consider this a year in which he pays for transportation (I am not sure how much cab rides and uber cost, so if it's really very expensive, like $300/month, that would be unworkable) while building credit for a car purchase, and saves the $2500 for that future car.

 

Don't you guys have a bus route there too?  I thought I remembered from a previous thread.

Link to comment
Share on other sites

Ime, you won't find anything at dealers at that price. You will need to scour fsbo. He'll need to be persistent.

 

Google can help with finding which old cars are dependable. I think there's a make of an old Ford that is notoriously dependable yet cheap.

 

Is the old car gone already? It isn't fixable for $2000?

  • Like 1
Link to comment
Share on other sites

I just reread and saw that you've only been looking for 2 weeks.  It may very well take a lot longer than that.  You're looking for a unicorn - these unicorns exist, but they are rare. 

 

If he is not making enough money to barely cover more than gas, insurance, and tolls, I'd say this job is not economically viable for him, and encourage him to find something with more hours or better pay or closer or something.  

Link to comment
Share on other sites

Do you attend a church or know people well enough who go to one where you could ask if they have a car ministry?  The last 2 churches we've attended had connections to get cheap cars, usually a person who repairs/sells cars that are pretty high miles but just to help people out.  

 

Check with junkyards/used car parts places or even repair places and see if they have any leads.  Some places will allow people to advertise their older cars to sell them quickly.

 

ALSO, what about bulletin boards at colleges?  

 

Our oldest ds is still driving his $1200 car (200 Hyundai Elantra, over 120k miles) after a year and has only had to put a few hundred dollars into some repairs that were just unforeseen even with a quick evaluation by a repair guy before we bought.  But still, he owns it outright--the total costs other than gas come to about $150/month to be able to have a vehicle and independence!  It was sitting out in front of a local car repair place, which is where we see vehicles regularly.

 

I would just say that it's a good idea to have someone who can look over the car and find any urgent repairs to either help you avoid a lemon or at least lower the cost of the car.

  • Like 2
Link to comment
Share on other sites

When you are looking for a car under $2500, you have to expect that it will come with some problems.  Now, we don't have inspections required in my state, and I assume when you say it failed inspections, you are referring to the legal inspections many other states require to title or register a car.  So I assume the problems you are encountering so far are major.

 

No, the inspections were us taking the car he was considering to a mechanic not affiliated with the dealer and paying to have it looked over. But, yes, the problems were major.

Link to comment
Share on other sites

If he can afford to save for a year to replace a $2500 car with a better car, he can probably afford to make $150/month payments.  Alternatively, he can just consider this a year in which he pays for transportation (I am not sure how much cab rides and uber cost, so if it's really very expensive, like $300/month, that would be unworkable) while building credit for a car purchase, and saves the $2500 for that future car.

 

Don't you guys have a bus route there too?  I thought I remembered from a previous thread.

 

Ubering around town is VERY expensive. This past week, for example, he was substitute teaching at his old dance school for a few days. He gets paid $10 per hour to teach. If he takes a bus , it's a $2 bus ride from campus to as close as he can get and then $8 in Uber to get from there to the dance school. So, if he teaches three classes, he makes $30, but it costs him $20 just to get there and back. 

 

By contrast, it's less than $4 in gas for him to make the same trip.

 

He has two other part-time jobs, both of which involve erratic and late-night hours. Our bus options are pretty limited, and even when there is a bus option, it's often not available when he needs to get somewhere.

 

So, with a functional vehicle, he will be able to work more and have more options for where to work. (He actually has an interview for a very promising new job possibility coming up next week.)

 

As long as he lives with us, now that he is a licensed driver, he/we have to pay to have him on our insurance. His share of that is $150, and that has to be paid whether he has a car or not. So, the combination of that with the very high cost of Ubering is a real budget killer.

Link to comment
Share on other sites

Ime, you won't find anything at dealers at that price. You will need to scour fsbo. He'll need to be persistent.

 

Google can help with finding which old cars are dependable. I think there's a make of an old Ford that is notoriously dependable yet cheap.

 

Is the old car gone already? It isn't fixable for $2000?

 

We've done quite a bit of research online and have a list of models that would be promising. One of the two that we took in for an inspection was one of those models. Thus far, none of the others have shown up anywhere.

 

And, yes, we sold the old car for salvage. The mechanic we paid to look at it advised us to do so; he said that there was no way to return the car to a safely drive-able condition.

Link to comment
Share on other sites

Yes, a job with erratic hours and especially only a few hours at a time would be difficult to justify for the transportation cost.  This makes it seem like a loan for a used car might be a decent investment on his part; he might have to pay more per month to carry comprehensive insurance on it (but likely not a ton more, since it wouldn't be worth a ton of money to start with) but if he could get a job that pays more, has more hours, costs him less overall in transportation and/or less time walking and taking the bus and etc., it might be worth the cost.

  • Like 1
Link to comment
Share on other sites

I just reread and saw that you've only been looking for 2 weeks.  It may very well take a lot longer than that.  You're looking for a unicorn - these unicorns exist, but they are rare. 

 

If he is not making enough money to barely cover more than gas, insurance, and tolls, I'd say this job is not economically viable for him, and encourage him to find something with more hours or better pay or closer or something.  

 

We really don't have the luxury of taking a lot more time for this. Between the bus and Uber fares necessary to get him to school and work and the fact that he still has to cover the cost of keeping up auto insurance even while not driving, my son is, as he puts it "hemorrhaging money." 

 

As I mentioned, he is actively looking for a new job and already has an interview scheduled for next week. Part of the challenge is finding something with hours that are enough to cover his expenses and also work around his college schedule.

Link to comment
Share on other sites

Mm, there are times in life where you're not actively saving money, you're just making enough to barely cover your expenses.  

 

If he decides to quite driving entirely, can he sign a form that says he will not drive while he is living with you and an insurance company would be willing to not count him as an insured driver in your household?  I think it's called excluding a driver.  If he won't be able to drive at all for a while until he's established credit and found a job that he can hold long enough with enough hours to maybe get a car loan in a year, he might as well not be paying insurance rates at the same time.

  • Like 1
Link to comment
Share on other sites

I would say you're definitely looking for a private seller.  Cast the net wide, see a lot of cars (surely he can arrange most of this and do it?), be willing especially to find ones with cosmetic problems or no radio or no air conditioning but a decent motor and brakes. 

 

He can "arrange" much of this, but he can't get anywhere to actually look at anything without someone to drive him.

 

And, sure, as I said originally, we're not worried about getting him anything pretty. The best possibility we've found so far had a shattered rear-view mirror on the driver's side, sun visors that flapped freely, ripped upholstery, multiple scratches and small dents, a non-functional radio, etc. 

 

None of that turned us off, but the "No way!" from the mechanic and the estimated $1,000 worth of repairs that would have been needed more or less immediately to make it roadworthy did.

Link to comment
Share on other sites

Mm, there are times in life where you're not actively saving money, you're just making enough to barely cover your expenses.  

 

If he decides to quite driving entirely, can he sign a form that says he will not drive while he is living with you and an insurance company would be willing to not count him as an insured driver in your household?  I think it's called excluding a driver.  If he won't be able to drive at all for a while until he's established credit and found a job that he can hold long enough with enough hours to maybe get a car loan in a year, he might as well not be paying insurance rates at the same time.

 

Our insurance company has told us that any adult old enough to have a license must be included on our insurance. In fact, there was a period of time when my husband didn't even have a license because he had let it expire while he was having health issues that made it difficult for him to drive. I still had to cover him on my insurance, because the idea was that, in an emergency or something he might drive my car.

Link to comment
Share on other sites

You might look for a $1500 car, giving you some room for repairs.

 

Could he Uber to look at cars?  I realize it costs money, and that he's trying to save, but overall it would save money if he can find a car.  

 

Hmmm, we saw three cars last weekend that were under $2,000.

 

Two of them had to be jump-started. 

 

One of those had flickering lights on the dashboard that indicated the possibility of an electrical problem and could barely be shifted from gear to gear because there were many cracks in the plastic casing around the gearshift. (There was more, but those were the deciding factors.)

 

The second was in such rough shape that the person showing it to us actually refused to let us take it for a test drive or to a mechanic for inspection, because he was afraid we'd get stuck on the side of the road while driving it.

 

The third began billowing smoke from under the hood while we were discussing other issues.

 

On NextDoor today, there was one vehicle listed for $1,500. The posting specifies that it needs a new engine and other work.

 

Given the rotten track record we've had, it's likely he could spend a large chunk of the cash he's hoping to spend on a car just to Uber all over town following up on dead end leads.

Link to comment
Share on other sites

Not sure if you are looking for specific cars that typically have a good history.

The old Volvo 200 series DL we had ran to 500,000+ miles

I also had a Corolla that ran forever. Of the two, the Volvo was more expensive to repair.

I would think for $2500 you should be able to get one of those if there are any in your area.

 

  • Like 2
Link to comment
Share on other sites

Yes, a job with erratic hours and especially only a few hours at a time would be difficult to justify for the transportation cost.  This makes it seem like a loan for a used car might be a decent investment on his part; he might have to pay more per month to carry comprehensive insurance on it (but likely not a ton more, since it wouldn't be worth a ton of money to start with) but if he could get a job that pays more, has more hours, costs him less overall in transportation and/or less time walking and taking the bus and etc., it might be worth the cost.

 

Comprehensive on the car we sold him for $1,000, the one that was worth only $2,000 - $2,500, would have cost $300 per month.

 

My husband actually went to talk to our credit union about taking a small loan, enough to get my son's budget up to maybe $5,000. They do not make car loans that small. He would have to put down all the cash he has as a down payment and then borrow at least $7,000 beyond that, which is way more than I want him to take on at the moment, especially given the additional insurance cost it would require.

Link to comment
Share on other sites

Not sure if you are looking for specific cars that typically have a good history.

The old Volvo 200 series DL we had ran to 500,000+ miles

I also had a Corolla that ran forever. Of the two, the Volvo was more expensive to repair.

I would think for $2500 you should be able to get one of those if there are any in your area.

 

I haven't seen any Volvos of any age for sale in his price range.

 

Corollas are on our wish list, but he hasn't seen any available.

 

Mainly, what I was hoping was that someone would have some suggestions about other places to look for cars for sale that might be more fruitful than what we're doing so far.

  • Like 1
Link to comment
Share on other sites

Don't know about Florida if that is where you are looking...here there are weekend car lots where individual have a venue for selling their vehicles, also the weekend coupon / hot deals paper often has a page or two for used vehicles. This must be somewhere online as well; I have just always seen it still in paper format.

If you attend a church, it may not hurt to ask around or post something on the bulletin board. Our church lets you post a need even if you are not a member but has to be approved. Estate sales sometimes involve vehicles as well.

Link to comment
Share on other sites

scooter and non-toll roads if lease wont work

 

otherwise, could he drive you to work and use your car to get to school, then swap again later?

 

howabout one of you carpool?

 

Scooters have a pretty limited use given our weather here. And a few of the places he needs to go regularly are very difficult to reach without using the highways and/or toll roads.

 

Our schedules really don't mesh well enough to coordinate, especially since his is so erratic.

 

None of my co-workers who are on a matching schedule live anywhere near me. 

 

Plus, frankly, I just don't want to hand over my car keys to him because he already wrecked the first car I essentially gave him. I want him to have enough emotional and financial investment in what he's driving to be motivated to take care of it.

  • Like 2
Link to comment
Share on other sites

 I agree that keep looking is reasonable given the time frame. Narrow your search to a few reliable models and be prepared to drive a ways and to do at least $500 in repairs. If you can contribute to his initial repairs, that would be nice. Don't forget to consider cars people are asking ridiculously high prices for. Show them printouts from kbb and you may be able to negotiate a more reasonable price. Is there anywhere he can bike rather than uber? Consider stick shifts if he knows how to drive them or has someone who could teach him.

Link to comment
Share on other sites

I have a Honda Odyssey I want to sell for $1000. Will need a brake job soon, but runs good. Too bad I'm not in Florida. Ă°Å¸Ëœ Maybe you need to look further afield. There might be a town you can go to on the weekend with more options. We have had to drive an hour to an hour and a half away for the rare cheap and reliable car. And it's paid off. My husband's $2000 Volvo is still going, and we've had it for 8 years. We're hoping to get 2 more years out of it, til we can save for a used truck. DH would Ă¢Â¤Ă¯Â¸ a truck.

 

We are a cheap car family, and I pray about it before we buy. We were nearly broke, and needed a minivan to fit 3 car seats. God brought this minivan to us for only $3000. We had it for 5 years with no major repairs! Just replaced it for a $5000 odyssey.

  • Like 2
Link to comment
Share on other sites

 I agree that keep looking is reasonable given the time frame. Narrow your search to a few reliable models and be prepared to drive a ways and to do at least $500 in repairs. If you can contribute to his initial repairs, that would be nice. Don't forget to consider cars people are asking ridiculously high prices for. Show them printouts from kbb and you may be able to negotiate a more reasonable price. Is there anywhere he can bike rather than uber? Consider stick shifts if he knows how to drive them or has someone who could teach him.

 

Yes, we always check the KBB to make sure the posted price is in line with that estimate.

 

None of the locations he needs to get to are really bike-able. In theory, our local buses take bikes; however, in practice the racks on the front of the buses take only two bikes each and are frequently full before he can try to board.

 

He does know how to drive a manual. The car I passed down to him was a stick shift, and he (like me) prefers that to an automatic. Thus far, he has not seen any manual transmissions in his price range.

Link to comment
Share on other sites

I want to say thank you, by the way, to all of the folks tossing in ideas. I truly appreciate it!

 

I'm just tired and frustrated and so ready to be done with this process. I'm sure that is coming through in my responses, but it's absolutely  not directed at any of you lovely folks who are trying so hard to help!

  • Like 1
Link to comment
Share on other sites

Have you checked estate sales? I don't know if cars might be sold that way or not, but it might be worth checking.

 

Also, given his price range, check the status of the title before you buy a car. I expect many cars that were in the recent hurricanes and were flooded might hit the market.

  • Like 1
Link to comment
Share on other sites

WeĂ¢â‚¬â„¢ve been able to buy reasonable cars for around a thousand, but we live in a low COL area. My husband once bought an $800 beater just to drive back and forth to work when he had a long commute, but it was from an individual and not a dealer. And again, this is really a super LCOL area.

 

I agree with the others. This is probably a unicorn. I think youĂ¢â‚¬â„¢ll either have to help him take out a loan or he will have to pay for public transportation.

Link to comment
Share on other sites

 

My husband actually went to talk to our credit union about taking a small loan, enough to get my son's budget up to maybe $5,000. They do not make car loans that small. He would have to put down all the cash he has as a down payment and then borrow at least $7,000 beyond that, which is way more than I want him to take on at the moment, especially given the additional insurance cost it would require.

If your dh was willing to do that, how about a small personal loan (from the credit union) instead? Those loans don't have the same restrictions as a car loan.

  • Like 3
Link to comment
Share on other sites

We looked at leasing a car for our daughter. We never did because when I checked how much it would cost to add it to our insurance policy, the cost was through the roof. We ended up buying a second hand car. Nextdoor is a good source in our area for cheap second hand cars.

Link to comment
Share on other sites

Auction. If there are auctions in your area, there may be people who specialize in buying cars from them for people like you. Ask around. I don't know that people like you (and me) should buy at auction without a car person to help. The car I know that went to auction needed a new transmission and didn't run.

Link to comment
Share on other sites

I am kind of in a rush so just skimmed the other responses so sorry if this is a repeat:

 

Have you checked whether car prices are lower in other states nearby?

 

If you can't find anything better and if you can at all afford it I would probably give him a small loan in this case as he really seems to need the transportation.

Link to comment
Share on other sites

Auction. If there are auctions in your area, there may be people who specialize in buying cars from them for people like you. Ask around. I don't know that people like you (and me) should buy at auction without a car person to help. The car I know that went to auction needed a new transmission and didn't run.

Seconding this. There are car mechanics that go to car auctions. If you hire one to find you a car, it's already been looked over, and auctions can be cheaper than dealerships.

Link to comment
Share on other sites

Gosh Jenny I am really sorry about your problem.  We bought my son his first car which was 4k and lasted about five years.  He was paying insurance and maintaining it fine even with the low wage job he had then.  He had a wreck with front end damage but repaired it enough that it was still driveable.  But when it got more issues, he decided to finally sell it back to us and we would donate it to charity and get a tax deduction.  He buys a new old car. get a loan, and it didn't last more than two years before gigantic issue arose and he couldn't see putting thousands more into the car which had given him quite a number of issue already.  Sold that car to the mechanic but we had to lend him 4K to pay off that loan so he could buy a new old truck from an aquaintance.  All cars and trucks were Toyotas.  Car#2 was just a really bad toyota.  My dh's 16 year old Toyota Tundra is still running great and hasn't needed any large repairs.  But it is still worth more than 2K too. 

 

Which brings up another point kind of irrelevant but I never thought we would be still supporting our adult children so much when they were little.  The world has changed.  All my adult non dependents are still needing some help- not because they are irresponsible but just the way things turned out- like in a week a day I will be having my youngest come home (dependent) while still having my second and her husband in my guest room along with a big dog and two extra cats (they just started jobs here in town, her husband hasn't even gotten his first pay check because they mailed it, and there house hasn't sold yet.  As I was telling my dh yesterday, I think some of the shows that are so popular nowadays like Stranger Things and many others are partly because the world now is hard to live in and we use escapist media- lots of popular shows about times past, times in the future, and magical elements too. 

 

I really do feel for you as I walk around this house that needs much updating and some repairs but kids, kids, kids.

Link to comment
Share on other sites

I read the OP and the suggestion by J-Rap to look into the possibility of him Leasing a car, which if he can do it I think would be great.. With regard to the purchase of a Used Car, the Inspection by a trusted Mechanic is IMO extremely important. I would want to know: That the car had not been in a major accident. That the car had not been in a Flood or Fire. That the Steering, Suspension and Brakes are in excellent condition.  

 

Other things can be repaired, but those things are deeply involved with safety.

 

He needs to stop tailgating.  In the states where I lived most of my life (CA and TX) and here in Colombia, if someone rear ends someone else, they are automatically at fault. For car insurance purposes and for traffic violation purposes. 

 

Good luck on him getting a reliable vehicle.  The suggestions I made in the first paragraph  apply to ANY used car, in ANY price range.

Link to comment
Share on other sites

We are looking for something similar, and craigslist seems to be the place with cars in that range. 

 

And hugs. I don't blame him one bit for the accident, if it was on I-4 that road is a mess. Just saw an article that it is the most dangerous road in America right now. 

 

And I agree the bus isn't a valid option here. 

  • Like 2
Link to comment
Share on other sites

Hm.  Only "creative" idea I have is what about selling your car to him?  If he can afford $150ish a month, you could use that money to buy yourself a new car.  So let's say you could get a payment for $250-$300 a month.  You'd be paying half or less than that for it.

 

No clue if you are in any position to do that or what the situation is, but just trying to think of something.

 

I do think sometimes you can get extremely lucky and get something used that isn't too bad.  We sold an old car to a neighbor for $400.  It needed probably about $1000 worth of work.  Now he has put over 20,000 miles on it (he drives a lot) without any problems whatsoever. 

 

I would not get a lease for him.  No way.  Because insurance will go up.  If there is any ding on it you have to pay for it in the end.  Just..no..I don't like that idea at all. 

  • Like 3
Link to comment
Share on other sites

I'm sorry. My dh in our first two years of marriage (very early 20s) had FOUR accidents where he rear ended someone on a highway. Obviously it was his fault and made me crazy but it was one of those things that made me believe all the science about the brain not being fully developed. He hasn't had another accident in over twenty years. He's a very smart responsible guy but something about young men following too closely. Ugh.

 

About the car- my 19 yo will likely need a car sometime in the next year for internships that are worthwhile. We have put it off as long as possible because car ownership is so darn expensive. We have gone over all of the options and have decided that when the time comes we will co-sign with him on a relatively new economical car with the intent that he take over payments when possible, or he makes payments if and when he is able. It seems the best way for our family. He will build his credit while having something reliable for highway driving around a metro area. We will also have to incur the higher insurance. Hopefully it will be a help we provide to him for a couple of years and then he can take it over. This kid has been driving since he turned 16 and has done pretty extensive driving without an accident or ticket so I would call him a good driver. But, of course, always the chance of a mishap.

 

I really feel for you (and there was another thread about young people chipping in to buy a shared car). These things seem so much more expensive than they were when we were just starting out. When I graduated in the 90s credit was easy to come by and things were not just so very expensive. I remember in college and high school my dad used to find cars for $500- $1000. We'd drive them for a few years for the cost of repairs here and there and then he would sell them again for $500. That doesn't seem like an option anymore. Our first apartment was $300/mo. Married at 21, we had an apartment, a car loan, a leased car, and even with the high risk insurance we incurred because dh was a bad driver, we were still able to "make it" in our early years. Like college, things have gotten so expensive I think as parents we can end up helping and supporting into those young adult years without spoiling or enabling them to postpone adulthood. It's just hard.

 

All that rambling to say, I am sorry you are in this situation. If you can help and want to, I wouldn't feel bad about helping a young adult secure transportation. If you can't help or don't wish to, that is okay too.

 

We have in temporary situations used Uber and rental cars. While not cost effective they were better ideas for us than taking on another car and insurance costs. Oldest ds has an internship just for this semester that he has used Uber for. Totally not cost effective but a temporary fix. In the past, dh rented a car while ds drove his. Again, foolish in the short term but a fix for us when we just weren't ready to take on a car purchase and insurance.

 

Our old car that we have had 13 years is a Ford Freestyle with a whole bunch of miles and a deer strike in it's past. It is a great car and worth far more to us than KBB value. We'll hold onto it until it dies because it is just too hard to find a used car. If you are still on any local homeschool groups or FB groups you could post that you are looking for something and perhaps offer a bit over KBB. This car will be just sitting not really being used after second ds goes to college. We plan to hold onto it for the next kid and to be used over breaks but if someone came to us wanting to purchase it for a decent price we might consider it even though we hadn't thought of actively trying to sell it.

Link to comment
Share on other sites

This might be a time suck...But there are major roads around here that are the roads that lead from little towns and exburbs to other little towns and exburbs that used to be "country roads" but now get a lot more traffic.

 

There are always cars for sale parked on people's front lawns. But it is sporadic. My SIL lives in on such road and family and friends park their cars on her land when they want to sell them.I

 

The thing that stink is that you guys are pressed for time...so you can't be taking "country" drives to look for a car.

 

Did your son set get his super secret job?

Link to comment
Share on other sites

I see a few options  (just skimmed previous posts)

 

1) Buffer his funds with a 'family loan' (what we have done with our girls)

 

2) Ask if you can co-sign the credit union loan and have him purchase a car for closer to his budget then turn around and pay the remaining funds back on the loan balance (still has same monthly payment...)   Some credit unions offer 'personal' loans-- higher  interest but usually for under $2000

 

3) Look out of state (check state laws as far as 'car tax issues' some states have you pay an 'import' tax so you end up paying double the sales tax or rather pay tax in both states).  We had to replace a car in a hurry with limited funds and ended up driving 4 hours to get it.

 

4) Have him take a driving course (NOT typical drivers ed for high school students)--- seriously there are several good ones out there that cater to adults-- they are usually a few hundred dollars but some insurance companies will give some credit.  BMW has some that are excellent...  DH plans on having our youngest take one as a 'graduation gift' in a few years.

 

 

  • Like 2
Link to comment
Share on other sites

I would also consider whether it is time to consider financing a car as a way to build credit and as a way to not have to do this again in a year or two. You might have to either 1. do as someone mentioned above, take out a personal loan in your name and have him make payments - that, however, does not build his credit. or 2. if you go to some of the smaller "we finance anyone" type of lots, you could probably get a decent car for 5-7k. 

 

We have bought cars at those type of lots before and you just have to use good judgment and ask around for recommendations of which lot. Yes, you will probably pay a higher interest, but it will help him establish credit. Some do the financing on their own lot, some use a larger finance companies. 

What I've found around here is that most dealers do not keep those "just above dead" type of cars, they sell them off and it is those smaller lots that typically carry that inventory. 

 

Otherwise private sellers are your best bet. The country roads is a good suggestion, also regular household auctions. Those cars tend to go high around here though. 

  • Like 1
Link to comment
Share on other sites

We have always purchased cars for $2,000 so it's reasonable to me to find cars in that range that aren't horrendous. If he can drive a manual transmission car, even better! Actually that is one of our requirements for that price range - if he can't, time to learn.

 

The last two we liked most were the chevy cavilear and the Saturn something. Cavilears are harder now because they stopped making them a while back. But both cars chugged along until another car took them out of commission.

 

We always buy private sell, check them out to the best of our abilities and take our chance. The only dud we got was my sons first car which he paid more than it was worth and I had said that i wouldn't buy that car but he did anyways (I should have put my foot down). But even with issues - it can't pass emissions, needs oil constantly and the speedometer and odometer stopped working - it has got him through 3 years of community college and the ability to save up to buy a better car now. So even with issues it served its purpose.

 

I look forward to the day we pay more for a car but so far the $2k cars have each lasted about 3-5 years, not bad. It was only my sons that only lasted 3... all the rest were going on 5 years when a car accident took them out.

Edited by xixstar
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

Ă—
Ă—
  • Create New...