So here is my situation. I have a car that is very dangerous to drive at this point. Like I am seriously worried that either I or the car won't make it through the upcoming winter months. Now, I would love to just...get a new one, but I can't, and here's why. The only thing on my credit report are about $26,000 in school loans, which I do not start paying back until January 2011 because I am waiting for them to get consolidated. I have been disapproved for everything from a high interest rate car loan, to a department store credit card. I cannot even get anything at this point to start building my credit, nor do I think there would even be enough time for that to take effect even if I could.
I have about $3,300 left on my current cars loan. I do have enough to pay it off saved up however, even if I did pay it off, I can't buy another car in cash and I cannot sell my car and get a new one because I won't be able to get a loan. I don't have enough money to pay my current car off and pay for a new one in cash either.
I earn about $1,200 a month and that is AFTER all my monthly requirements (rent, car payments, bills, food, etc.) so that gives you guys a feel for where I am at financially, and I have about $4,000 in savings, which I really didn't want to tap into but I would if I had to.
Do any of you guys have any idea for how I can get through this? The main goal I would have is to get a new car within the next month. Is that possible? I would love to have an auto loan so I can use it to start building my credit for the future, however getting a new car in general without one would still be okay because I am mainly just worried about my safety.