Opinions on start up loan?

I start my first job Friday. So I was wondering if it would be a good idea to get a start up loan to get a car or should I just save up and purchase one thats for sale in a yard or on craigslist? Keep in mind I probably need a car quicker then I think cause my husband & I will probably be on two t totally different shifts. I don't really like the whole loan thing, but then again it might be best. If you've gotten a start up loan I would love to hear how it worked for you.

6 Answers

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  • Anonymous
    8 years ago
    Best Answer

    I've bought every single one of my cars used and loan free. I'd save up and purchase one because in this economy you never know when you might lose your job and you might have a hard time finding another one. Nothing is certain these days.

    Also I'm not sure what Mark is talking about. I bought my last car off of craigslist and wasn't murdered. There has only been 2 murders out of 100s of millions of transactions on craigslist anyway and one was an escort. Just take your hubby with you and maybe a mechanic.

  • Mark
    Lv 6
    8 years ago

    First of all, it's always never safe buying a car from a yard sale or craigslist. Lots of murders happen that way.

    I would just save some money of at least $5,000 or more and make sure you have good credit score of 650 and above and pay it off within the next 3 yrs.

  • You should wait at least a year. Make sure you like the job, and make sure you can keep it. They may unexpectantly have to let you go, you never know. Never make a huge decision like that quickly. Also, it won't take you that long if you save all you can.

  • Anonymous
    8 years ago

    never get a loan unless it is the only choice you have

    save up and buy something used

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  • 8 years ago

    Get it from GM. Tell them you are too big to fail. Tell them to give you more money so you can pay off the loan.

  • 8 years ago

    Wait a few weeks, you might hate it and quit.

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