Overhaulin'

Just graduated college (Bachelors) and want to buy a car. Should I get a used cheap one or a brand new one ?

Should I lease? Is there a good site I can use to understand what to do. Is there a company that has good financing options for people like me (since I am new grad I don't think I have much of a credit, add to that student loans). Any suggestions ? I need a cheap solution to this problem.. Thank you

Public Comments

1. Buy used.
2. Buy used. Leasing has a lot of fine print.
3. Not a lot of credit & heavy student debt combined with recent grad & little work history. I suggest you pay cash for a used car while you establish a good credit history. You can finance or lease a car if you have a trustworthy co-signer. But truthfully that is what it will take. New or used makes no diff at this point, it's what you can afford & how good the deal is.
4. You should save for a little while and you can buy a nice used car outright. After you pay off some or all of your student loans would be a better time to lease a new car.
5. I would def buy a used (good condition) car. Im about to grad in May and already have a leased car and am making payments on it. You have to think about gas, insurance, and the car payments each month, plus your student loans will be added soon, if not already. If you have a good job that pays well then you prob don't have to worry. But make a budget to see if you can afford a leased car or just a used car.
6. get a used car less then a hundred miles 160,000 is when things start braking
7. Please don't go into long term debt right out of college. Buy a reasonably priced used car and enjoy life before you get buried in debt and other adult responsibilities. A lease would be a terrible decision.
8. get a new one. take advantage of recent college grad, and the rebate from the new car. you can finance a new longer and get better interest rates. maybe even get away with nothing down. this is the one time in your life that you can take advantage of recent college grad money.. take it. get a new car ... affordable payment... But most importantly buy the new car that you will keep for 100k miles. so think long term ... load it up ... you will enjoy this reminder of your accomplishment. and when you get to 100k miles you will be able to step up again. buying used is mostly a crap shoot. leasing is ok if you don't drive a whole bunch, but being young and having a new car you will not walk across the street, so leasing may not be the best.