hey, I just turned 18 not to long ago and i want to buy a car thats 10k. I have a pretty good job and im pretty sure i can pay the monthly payments per month but i was wondering if theres ANYWAY i can get this car without a co-signer. I don't know my credit score but im pretty sure it can't be bad because i don't have any bills besides insurance. I can put like close to 2k down payment on the car but i don't know if theres anyway i can get it. Please post and give me some advice. = )
2007-08-09 22:09:59 · 9 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
The problem probably isn't that you have bad credit, its that you don't have ANY credit yet. Without a co-signer or some type of active credit, the chances of getting a loan from a bank/credit union is low.
2007-08-09 22:14:00 · answer #1 · answered by scikerz 3 · 2⤊ 1⤋
I wouldn't buy the $10k car if I didn't have the $10k. I would recommend you buy a $2k car and while your driving it, start saving what you would have been paying as a payment so that you can pay cash for a better car. Please visit this page http://www.daveramsey.com/etc/lms/drive_free this guy does a great job of explaining why nobody should have a car payment.
2007-08-10 05:50:53 · answer #2 · answered by modaddy_98 2 · 0⤊ 0⤋
Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen towardyou can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender
2007-08-11 12:16:18 · answer #3 · answered by Anonymous · 0⤊ 1⤋
you can buy a car for 2k - why go into debt when you have enough money for a car. you can't get a fancy car, but for 2k you can find a clean car that can get you around.
what you do is look for low mileage cars. A few years ago i bought a car with like 15000 miles on it for $1300 - these cars are out there, but you have to look for them.
2007-08-10 05:14:54 · answer #4 · answered by art_flood 4 · 1⤊ 1⤋
being young and lack of credit, you are going to get a bad intrest rate..... but that to be expected. i would try to get a loan at your bank they will be the best place to get the loan instead of the house financer of the car lot,
also get the car checked out by a good mechanic, dont want to buy a lemon and if you have cash you have the means to haggle prices down dont be afraid to do so!!!
2007-08-10 05:14:15 · answer #5 · answered by mcheshster27 3 · 2⤊ 1⤋
bad credit history is better than no credit history to a lender.
No one knows if you will pay your bills because you have no history to prove it.
Stay away from the dealerships and just buy from a private party until you get some more life under your belt.
2007-08-10 05:15:03 · answer #6 · answered by ? 6 · 1⤊ 1⤋
the banks mininium monthly incom is 1,600 per month gross if that dose not work try drive finicial a get gettem stared bank the intrest rate sucks but it will get you started
2007-08-10 10:15:08 · answer #7 · answered by CJ 2 · 0⤊ 1⤋
...because you're "18" most contracts (that includes automotive sales) require you to be "21" and have a verifiable "credit rating"... unless you "make a deal" with the automotive dealer... well, it goes back to the "Jerry McGuire" syndrome..."show me the money"....
2007-08-10 05:15:10 · answer #8 · answered by Anonymous · 0⤊ 2⤋
I don't see why not
2007-08-10 05:12:42 · answer #9 · answered by Anonymous · 1⤊ 3⤋