I am trying to buy a scion tc 2007, but i have no credit at all!! is this good or bad when u go to buy a car? will dealers work with first license drivers with no credit?
2007-01-24 05:00:44 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
Unfortunately, it's bad. They will work with you, but you will pay a higher interest rate, and you may need a cosigner.
2007-01-24 07:36:43 · answer #1 · answered by oj 5 · 0⤊ 0⤋
Credit score below 600 is considered to be a bad score. Excellent Credit: 750+ Good Credit: 700-749 Fair Credit: 650-699 Poor Credit: 600-649 Bad Credit: below 600
2016-05-24 04:34:55 · answer #2 · answered by ? 4 · 0⤊ 0⤋
No credit is bad, but not as bad as having bad credit. Start off with a credit card or two from a bank like Bank of America, then look at getting the AmericanExpress blue card. Keep paying the bills on time and it will greatly increase your credit score.
2007-01-24 05:08:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Having no credit is not good. It's not as bad as bad credit, but it says that there is no record of how you pay for things when you don't have cash right then and there. The company wants to see that you are responsible and will make your payments and make them on time. You can build your credit easy. Get a credit card and make small purchases and pay on time for 3 months. I don't know if you have a cell phone, but thats a way to show that you will pay on time too.
2007-01-24 05:23:08 · answer #4 · answered by Baileysmom 3 · 0⤊ 0⤋
No credit can be worse then bad credit. The lender will care but the dealer will not. You may want to go to a bank and deposit $1000.00 with them and then use it as security for an $800.00 loan. Pay it on time every time and it will help you. Also make sure that you are paying ALL of your bills on time every time. Also keep your debt to income very low(less then 10%)
2007-01-24 05:13:34 · answer #5 · answered by Today is the Day 4 · 0⤊ 0⤋
bad. Cuz with no credit you can dont anything. But it gives a chance to build good credit. Its better to start off with no credit than bad credit.
2007-01-24 05:08:27 · answer #6 · answered by tennisboyusa 3 · 0⤊ 0⤋
you should first attempt to acquire a gasoline credit card....anyone u wish...example...exxon, amoco, etc...after keeping and USING this and paying ON TIME for about 6 months...try to get a department store credit card...example, jc penney, sears, etc..keep this one as well for about 6 months..use this and pay on time as required then you may attempt to acquire a major mc or visa again use and pay on time...this will build an excellent credit history -- now after 1 year you will be able to purchase that new vehicle w/o getting stuck paying 16% interest or even higher...work on developing your credit and ALWAYS PAY YOUR BILLS ON TIME
2007-01-24 07:20:37 · answer #7 · answered by sunbun 6 · 0⤊ 0⤋
Bad - you may have trouble getting reasonable financing. The dealers don't care about your credit unless you are financing through them.
2007-01-24 05:07:03 · answer #8 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
this is not good. no credit is sometimes worse than bad credit
2007-01-24 05:18:49 · answer #9 · answered by tigerlilliebuick 3 · 0⤊ 0⤋