Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Buying a car - advice needed
If it costs more to fix the car than the car is worth, then those repairs are not worth it.  Hit craigslist and look for another junker that runs, but is in your cash price range.  Pay to get it looked at by a mechanic as a condition of sale.  Use consumer reports to try and find a good model. Somebody in your position does not need a $15K car.  You need a series of $2K or $4K cars that you will replace more often, but pay cash for.  Car buying, especially from a dealer financed, place isn't how I would recommend building your credit back up. EDIT in response to your updates: Build your credit the smart way, by not paying interest charges.  Use your lower limit card, and annually apply for more credit, which you use and pay off each and every month.  Borrowing is not going to help you.  Just because you can afford to make payments, doesn't automatically make payments a wise decision.  You have to examine the value of the loan, not what the payments are.  Shop for a good price, shop for a good rate, then purchase.  The amount you can pay every month should only be a factor than can kill the deal, not allow it. Pay cash for your vehicle until you can qualify for a low cost loan from a credit union or a bank.  It is a waste of money and time to pay a penalty interest rate because you want to build your credit.  Time is what will heal your credit score. If you really must borrow for the purchase, you must secure a loan prior to shopping for a car.  Visit a few credit unions and get pre-qualified.  Once you have a pre-approved loan in place, you can let the deal try and beat your loan for a better deal.  Don't make the mistake of letting the dealer do all the financing first.