I really wouldn't bring your car. There are no places to park, and you'll get parking tickets unless you're really good at getting up at 7:45 am to go drive your car until the street cleaners have passed. There's cheap airfare, amtrak, and craigslist rideshare to get down there.

Also, I generally found while looking for a place on craigslist, that while there are a lot of cheap places listed, they're heavily competed due to rent control. Places with a room for 500-600 will get hundreds and hundreds of responses, and you'll have to do an awkward interview for the room, which is like a combination date/job interview. It will take time to find a room. Nearly everyone I know that has moved to the bay area has crashed on a friend's couch for 2-3 months, or take an expensive, short term sublet.

You probably figured this out already, but living a little bit out of town (along the peninsula for example) can cut your rent by 40%, which would be more than the caltrain/bart fare to get you into town every day.

Depending on your motivations, it could completely defeat the purpose of heading here though.

Take the train or fly, buy a bicycle or walk and take the bus. This city isn't that car friendly but the transit is alright. You're not coming here to sit in traffic or improve your parallel parking skills, are you? Thought not :-)