Dhaule,

Rite now go with used car, as you have other financial needs, once u payoff all your loans and such you can always ride nice brand new cars.

If you buy a car around 20k your payment will be around $400 bucks.... with 0 down payment and assumin you have excellent credit as that will be around 3.9% a.pr for 60 months Your insurance are always higher on new cars then used ones.

Ofcourse with new car you have warranties and you dont have to worry about breaking down or anything , but if you have about a month time frame look around different dealers and news paper ads and craigs list for nice decent cheap car that you can pay cash for.

When you buy used car make sure you take it to a mechanic for inspection before you make the final deal.

This is a very good time to buy new cars as there are big discounts and incentives, but way the job market and economy is you might want to go with something you can pay cash for and not worry about it for another 2/3 yrs ... after tht we all know things will turn around then by that time you will prllly have most of your other loans paid off and you can buy brand new car and keep this one as run around.

Just my 2 cents.... can only advise, you have to call the shot.