Advice on saving for a car....

[Illuminous]

So. I was in an accident. I'm trying to sell my car off, although it's slow going, but I want some advice on how to save up for/buy a car. This is the plan as it stands.

Borrow the parents car for three months.
Save up as much as I can, consolidate credit cards, change cell phone plans so it's cheaper, apple for work at home or other part time jobs. I'll even do cleaning on the weekends
Put the money i make off my car and from said jobs into savings account.
In 3 months see where I am. My sister said she'd provide additional help if necc.

I want to save up 3K for a downpayment on a car that's ~13K. I'm looking at a Hyundai accent, Honda Fit or something equally reliable, preferably a hatchback, that's used.

Are there any other ways to save? is that enough downpayment? Can I trade in a busted car, or should I keep trying to sell it? Are those good choices for cars?

[Kitty]

Would it be possible to buy a more inexpensive car? 13k seems like it might be out of your budget (just my opinion based on what you've written here, I don't know your financial situation).

Car loans tend to have OK interest rate. I got approved for a loan recently and I think the interest rate was only like 4%. This was through a credit union, so maybe joining one would help?

[WorkInProgress]

I think you've got your options figured out, in terms of boosting savings in the short term. I've got nothing new for you.

3k is plenty for a down payment. I put nothing (except my trade, but I'll get to that) down when I bought my car, and I don't feel like I've been robbed because of it.

I traded in a car that the dealer couldn't even start. No kidding. For well over bluebook (still not lots, but I'm sure I couldn't have sold it for more). I used that as my down payment.

And here (http://www.slate.com/id/2151465/)'s a Slate article discussing various small cars, including the Fit, which you mentioned.

[winneythepooh7]

Honestly you are not going to get much for that kind of trade-in, if anything. I had a 1996 or 1998 (something like that) car in great condition when I purchased my current vehicle. I got zip for it. If I had the means to park it on the street for sale, I would have done that. In any event, I put $1000 down on my car. It was also used. It also is still under warranty and I rarely drive it so things are still covered which is a major positive for me. A couple people have also pointed out in the past that if you are financing, there's really no need to put a down-payment on a car. It just makes the interest higher. I will let someone else who is more of an expert elaborate on that though, as well as good ways to finagle with the salesmen ;).

[Illuminous]

Would it be possible to buy a more inexpensive car? 13k seems like it might be out of your budget (just my opinion based on what you've written here, I don't know your financial situation).

Car loans tend to have OK interest rate. I got approved for a loan recently and I think the interest rate was only like 4%. This was through a credit union, so maybe joining one would help?

It is, but I dont want a car that's older than a 2000, and I do really want a hatchback. I haven't seen any cars that are foreign (family tradition, hah) and a hatchback for less than 13K, even used. I think the hatchback market is prtty tough, becuase so far ,I've only seen about 3 at used car lots. Granted, I haven't gone to a ton, but still. I can afford maybe 300 on monthly payments, and I'm hoping to get the dealer to take 2K off, Honeslty i'm looking at more like 11K, after haggling. I've got my mom's haggling spirit, so hopefully i cna pull it off.

My mom once got 5K taken off a used Lexus that only had 30K miles or something. She's amazing.

WIP, that article is why I'm so keen on the fit. EVERYTHING comes standard and jsut about everything from Consumer reports to Car and driver has rated it as the best cheapie car out there. It's the end of the year too, so hopefully there'll be some nice deals regarding that.

[Sanman111]

I would check out a used scion XA, they can be had for 10-11k , the fit is new, hot and is unlikely to be discounted much.

[Spinney]

I bought a 2002 chevy cavalier for under $7000 Canadian, from a dealer, about 2 weeks ago. Maybe cars are just a lot cheaper here, but I doubt it. You really should be able to find a reliable car for under $13000.

Only 50,000 kms on it too. Most cars that old have been driven twice as far. From what other people have told me if I'm good about changing the oil I could drive it for another 8 or 10 years.

[wordsmith]

This bit from the Slate article kills me:

Adjusted for inflation, the infamous '86 Yugo hatchback—named the "GV," for "Great Value"—would still cost less than $7,500 today. And it would indeed be a great value! You simply can't find a new car for that price anymore. Just a single car in the 2007 model year lists for less than $10,000 (the Chevy Aveo, the Yugo of the new millennium), and even it comes in at an eye-popping $9,995.
It turns out most bottom-of-the-line cars these days will run you more like $12,000 to $17,000. This is disappointingly luxe for a car cheapskate like me. (I drive a '96 Saturn with 103,000 miles on it.)

...because it's so me, except substitute '93 Geo (which was the new Yugo before the Aveo was the new Yugo) and up the miles a bit.

Actually, I'm sure that when I can no longer find Geos to drive to dust, I'll pick up an Aveo, since it's sorta what Chevy replaced the Geos with, or the closest thing. But I will NOT pay anything near $10k for such a bare bones car, so I'll just have to wait/keep limping along until they're old and cheap.

[Illuminous]

Whoever said finding a Fit would be tough was right. I e-mailed a dealer and he said all the ones he had comnig in were sold and he doesn't have any Civic hatchbacks.

I read this the other day: http://www.caranddriver.com/comparisons/10925/15000-cheap-skates.html

I'm almost tempted to get a Kia b/c they're so damned cheap, but I hear the worst things about them. *sigh* I have three months, but it seems all teh dealers around here have very small stocks with no hatchbacks.

[Priya]

Have you thought about buying a Civic - not a hatchback? My sister has a two-door and it's very low maintanence and was a pretty good deal.

You could easily find one that's a few years old for around 13k or less....they're everywhere.