My experience says to spend $2000-3000 on a reliable, used car and keep the rest for immediate repairs on the car. Also, use this money as a safety net for other expenses that come up, so you can pay cash for it, instead of add to your credit card debt.
I know this sounds somewhat backwards, but here's my reasoning.
Your credit doesn't matter right now. Your spending habits do. If all you want are expensive things that you can't afford without going into debt, then you are always going to have bad credit, no money, and you'll be working your whole life to afford things you bought years ago. You need to address this version of materialism before it gets you in serious trouble.
A cheap but reliable car is going to save you money in the short and long term, even if you need to fix it right away. Dropping $200 on repairs in a month isn't fun, but a $250 monthly payment is worse. The money you save on car payments can go towards your credit card debt, saving you lots of money in a short time.
Let's do some math.
At $250 a month for a car payment (really, a modest payment for a new car and a low credit rating), you will take 20 months to regain $5000. This mean you might be borrowing your friend's car or taking a bus for almost 2 years if you put all your money on the credit cards. Or, you can make your life easier and buy the cheap car and take those same 2 years to pay down/off the credit cards.
Again, taking 2 years to pay off credit cards when you might be able to pay them off now seems backwards, but there's reasons for my "madness". If you pay off the CC's, you may have the idea that it's OK to use those credit cards again, which gets you back to where you are now, just with more stuff and no $5k. You still won't have a car, you're still borrowing a car or taking the bus, and you still aren't saving for a car due to new credit card bills.
Think of your situation as a hole in the ground, because debt really is this way. Unless you have the ability to jump completely clear of the hole, you're just going to land on the edge, grasping for anything to hold onto before you fall back in, probably taking a bunch of dirt with you, burying you further and making it harder to dig out. Instead, make thought out plans on how to get out of debt and follow the plans, until it's time to change your plan. Digging out slowly means you are less likely to have the hole fall in on your, burying you again.
Since you are just out of college, you have plenty of time to get out of debt, get a nice car, and all the other things you want, but you have to do it intelligently. A cheap, reliable car will save you a lot more money than buying a new car. Even $1000 a year in repairs is less costly than $3000 in monthly payments, repairs, and higher insurance.
When someone talks about credit card debt and trying to afford things like a car, I always point to the book "America's Cheapest Family". I don't get anything for "advertising" for this book, I'm simply another satisfied customer. (Any referral is not mine, as SE/SO has added them to my posts previously.)
This family has several kids, a low income, and finds ways to afford new cars, houses, moving across the country, taking vacations, and more. Most of my advice comes from this book mixed with my own experience. This family also helps others fix their finances in their own real life, so it's not just a bunch of ideals that don't work. This book is filled with examples of how to save money, yes, but it comes from a lot of experience, trials, failures, successes, and time. They make it interesting, since they include their own life experiences in the examples, rather than it just being a dry "financials" textbook. I've read the book twice and it helped me figure out a few more things to get me out of credit card and student loan debt.
Well, good luck and I hope I helped!