New car......no but not bad credit history...with money down?

Question

ok.........any car specialists out there..... i have 8500 to put down on a vehicle that i would like to get for 25000 and have no credit history....im working on getting a card but everyone keeps denying me.

but will a bank finance me with not a large rate, seeing that im gonna put a good amount down?

Answer 1

If your bank doesn't accept, go there : http://simple-credit-cards-and-loans.com?=yh060307

Also take a look there, it may help you : http://index-go.com/improve-credit-score-get-out-of-debts-fast.asp


Good luck !

Answer 2

It depends on several factors. First, they will not likely give you a loan without a co-signer. So if your parents or any other family members are still with us and willing, they would be your co-signer. Other factors that will govern the rate are length of the loan, your job history, and your income. Putting a large amount down will help a lot. On building credit, you will have to get small loans for several hundred bucks for something like a stereo or PC and pay it off on time and failthfully. This builds credit. Also, as for credit cards you will have to apply with a bank who is willing to extend credit to someone in your position. Many times you can get the applications in such places like college campuses as they are targeting the younger age group with little or no credit history so they can stick it to them with a high rate and annual fees. Without a credit history, you will have to endure a high rate, but only apply for a minimum credit limit like $300 or $500. Use it spareingly, and pay it on time and you will build credit. After a year or two you can look for a better deal on a card with lenders that do not charge annual fees and that have more reasonable rates.

Answer 3

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 4

If you want to get a credit card to help build credit, Try Orchard Credit Cards. I was 30 with no credit, applied with them, got a card. 3 years later I have a few CC's.

Answer 5

A new car dealer will easily give you the loan with that much down. You will get a higher interest rate and they will have plenty of time to repossess if you fail. Virtually no risk for them.

Answer 6

You may need a co-signer. Good luck!