Previous Thread
Next Thread
New Reply
Print Thread
Joined: Jan 2005
Posts: 125
fabric862
Member
fabric862 Jan 29, 2:00am - #386655 
Member

Joined: Jan 2005
Posts: 125
Beltsville, MD
SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY!

what do you recommend?
Joined: Dec 2004
Posts: 150
xTc_celica
Member
xTc_celica Jan 29, 2:04am - #386656 

Member
2000 Toyota Celica

Joined: Dec 2004
Posts: 150
norton, ks
you might have to cosign with someone, i had to do that it sucked... because if you miss the payment, either they can pay it for you and take the car, or if neither one of you pay it ruins their credit.

<img src="/ubbthreads/images/graemlins/flip.gif" alt="" />
Joined: Jan 2005
Posts: 125
fabric862
Member
fabric862 Jan 29, 2:13am - #386657 
Member

Joined: Jan 2005
Posts: 125
Beltsville, MD
I need to do this on my own, my parent wont help.
Joined: Jun 2002
Posts: 497
RedSunCelica
FWD
RedSunCelica Jan 29, 2:20am - #386658 

FWD
1995 Toyota Celica

Joined: Jun 2002
Posts: 497
San Diego CA
do you have a job and how long have youbeen there for?
your young and want a loan for a car and im guessing itll be between 10-20g car loan. I had to get my mom to co-sign for me and i was 20 with a good paying job no credit history. Ask a older friend or a cousin if they will co sign for you

[Linked Image]
Joined: Jan 2005
Posts: 125
fabric862
Member
fabric862 Jan 29, 2:25am - #386659 
Member

Joined: Jan 2005
Posts: 125
Beltsville, MD
I have been with mcdonalds for 3 years, recently quit.
I have been with ups for 3 months now.
I am a full time college student.
Joined: Apr 2003
Posts: 2,451
DiabloGTS
Wheezy Joe
DiabloGTS Jan 29, 2:33am - #386660 

Wheezy Joe
2002 Kawasaki Ninja 250

Joined: Apr 2003
Posts: 2,451
Lafayette, LA
You're living in MD, so let me help you:

Go to the Gaithersburg Hyundai dealership, they will finance anyone (I got started there)

Get something simple to start with, Elantra or something, pay it off in 2 years, trade it for something nicer, use the trade as a downpayment.

That's how I got my Celica. wave

To have played and laughed with enthusiasm
and sung with exultation
To know even one life has breathed easier
This is to have succeeded.
Joined: Jun 2004
Posts: 1,696
Polykarb
Metal Storm 2040
Polykarb Jan 29, 3:07am - #386661 

Metal Storm 2040
2000 Toyota Celica

Joined: Jun 2004
Posts: 1,696
Tampa, Florida
Originally Posted by xTc_celica
you might have to cosign with someone, i had to do that it sucked... because if you miss the payment, either they can pay it for you and take the car, or if neither one of you pay it ruins their credit.


That is what i had to do. That is the only way.

FF TWINCAM BEAUTY: CELICA
Joined: Jul 2004
Posts: 89
L3M1315
Member
L3M1315 Jan 29, 3:43am - #386662 

Member
2000 Toyota Celica

Joined: Jul 2004
Posts: 89
Madison WI
Get a credit card. Use it, pay it off every month, establish good credit. Graduate from college and take your degree with you to a dealership and get low financing on a used car. Just, as soon as you can, get yourself a good credit history cause you'll need that the rest of your life.

If you "need" a car that you can't pay for, you're gonna need a cosigner, and that is the only way right now.
Joined: Jan 2004
Posts: 42
Skyla
Member
Skyla Jan 29, 4:29am - #386663 
2002 Spec. Blue Toyota Celica GT
Member
2002 Toyota Celica GT

Joined: Jan 2004
Posts: 42
Ontario
its true...i had to get my mom to cosign for me...cuz i had credit history...
but they also have these things called security credit cards...aparently it builds up credit history REALLY well...dont remember how it works...but look into it too...

or if you get a credit card to build history, make sure you USE it and pay it off...if ou just get it, and dont use it, it doesnt do anything wink wink

this is no longer a guys hobbie.





Joined: Jan 2004
Posts: 1,612
eric_h
2low2slow
eric_h Jan 29, 4:37am - #386664 

2low2slow
2002 Toyota Celica GT

Joined: Jan 2004
Posts: 1,612
St.George, UT
if you dont have credit or co signer get a checking account or credit card and
use it for a few months and go back and check if anyone will finance you

good luck

[Linked Image]
A boats a boat, but the mystery box could be anything....Even a boat!
Joined: Aug 2004
Posts: 733
g96818
Yoda Master
g96818 Jan 29, 6:22am - #386665 

Yoda Master
2000 Toyota Celica GTS

Joined: Aug 2004
Posts: 733
Hon, HI
Originally Posted by eric_h
if you dont have credit or co signer get a checking account or credit card and
use it for a few months and go back and check if anyone will finance you

good luck


i was gonna say that
Joined: Jan 2004
Posts: 699
KULOD
Senior Member
KULOD Jan 29, 7:19am - #386666 

Senior Member
00 Toyota Celica

Joined: Jan 2004
Posts: 699
LIL RHODY
beg laughsilly
Joined: May 2004
Posts: 2,979
RookieGTS
Boobie Vision
RookieGTS Jan 29, 7:36am - #386667 

Boobie Vision
2000 Toyota Celica

Joined: May 2004
Posts: 2,979
925 Nor Cal
my parents co-signed for me when i got my first car, now after 2 years i got this celica under my name.
Joined: Nov 2004
Posts: 4
Dragon5180
New Member
Dragon5180 Jan 29, 7:41am - #386668 
2000 Blue Mica Toyota Celica GT
New Member
2000 Toyota Celica GT

Joined: Nov 2004
Posts: 4
Richmond, VA.
Just a hint.
If you try to get a loan and get denied don't just go around town applying. If you apply more then 3 times in one year you get a mark on your credit score. angry I know, It sucks. When I got My Celica I was 22. I still had to get my Mom to cosign. How embarrassing is that. lol cry
Joined: Feb 2004
Posts: 430
e_degala
Senior Member
e_degala Jan 29, 10:14am - #386669 

Senior Member
2000 Toyota Celica

Joined: Feb 2004
Posts: 430
northeast
like posted above, you gotta establish credit asap to build your credit score. don't think you have to get a mastercard, visa, or amex you can get an easier card to like walmart, jcpenney, or filennes that will help build it for future loans. but at eighteen, i doubt anything would help your credit score immediately and if you do get a loan you're gonna have a hella high interest rate.

Import Wars: 5/21, 6/18, 8/06, 10/08
Plymouth Meet: 5/28
HIN Boston: 4/30
Joined: Jan 2005
Posts: 55
WantaToyota
Member
WantaToyota Feb 5, 11:45pm - #386670 

Member

Joined: Jan 2005
Posts: 55
Twin Cities, Minnesota
if you need some credit get a crddit card and just be sure to pay the stuff off or like if you cant get one yet or whatever you can try jus like goin and gettin a target card or sumthin and just use it a bit that will give you somecredit
Joined: Apr 2003
Posts: 111
Loth
Member
Loth Feb 6, 8:45am - #386671 

Member
2001 Toyota Celica

Joined: Apr 2003
Posts: 111
San Jose, CA
I was the same way, I needed a co-signer, But I got a credit card charged up a lot of money on it (about 5 grand total thus far) and paid it off fully each month. Now after only a year and a half I have super good credit and can get a loan all by my self and Im only 20.

Quote:
Originally posted by stefanoc:


karma will be a bitch

Joined: Jul 2004
Posts: 282
AdamVIP
Member
AdamVIP Feb 6, 4:37pm - #386672 
Member

Joined: Jul 2004
Posts: 282
CA
Youre pretty much hosed. I had above 700 credit and was paying all my bills on time and places still wanted 10% because it was my first car loan. I bitched and got one for 6.25. I could have gotten lower with a co signer but i didnt want to ask my parents
Joined: May 2004
Posts: 621
jyboygenius
Senior Member
jyboygenius Feb 6, 5:55pm - #386673 
2001 Silver Toyota Celica
Senior Member
2001 Toyota Celica

Joined: May 2004
Posts: 621
Colorado, USA
OK, UNEMPLOYED AND ONLY A STUDENT. YOU'RE NOT GETTING A LOAN. LIKE THE OTHERS SAID,YOU'LL HAFTA CO-SIGN.

Enzo Ferrari " You may be a Ferrari owner; but, you may not necessarly be a Ferrari Driver."
Joined: Jul 2004
Posts: 20
yellowgt
Member
yellowgt Feb 6, 6:37pm - #386674 
2002 Super Yellow Toyota Celica GT
Member
2002 Toyota Celica GT

Joined: Jul 2004
Posts: 20
Alberta, Canada
you have to be working a half decent job and you have to be there for a long time. Put it the years and they will be sure that they will be able to collect their money from you. This is the only way to do it yourself. It will take time.Stick wh it and it will pay off. I have been at one of my jobs for over 10 years and i took on a second job two years ago. Trust in this.
Joined: Jun 2004
Posts: 3,748
hombredelassrtas
CF Connoisseur
hombredelassrtas Feb 6, 6:46pm - #386675 

CF Connoisseur
2004 Toyota Celica

Joined: Jun 2004
Posts: 3,748
Gainesville, FL
wow great job diablo gts. workn the systme wink If you cant find a buddy to cosign with you do waht diablo did. Seems to be the best rout.

[Linked Image]
Joined: Dec 2004
Posts: 419
vcel523
Senior Member
vcel523 Feb 7, 1:35am - #386676 

Senior Member
2003 Toyota Celica GT

Joined: Dec 2004
Posts: 419
Los Angeles, California
I'd have your parents sign for it. Then just transfer payments into their account. OR get a credit card and start using it.
Joined: Oct 2003
Posts: 1,227
hephaestus
Specialist
hephaestus Feb 7, 2:42am - #386677 
Specialist

Joined: Oct 2003
Posts: 1,227
New Jersey
I say the same as everyone. Get someone to co sign it. Either a girlfriend or friend with good credit. Get someone to get a loan for you and pay them back with mega interest (that takes trust and doesn't help with your credit history).
Otherwise you have to play the waiting game. Get a crap card like Bank One or Capital One and use it always and always pay it off full and on time. I would say get a gas card and some retail stores credit card and build the credit up from there, but that's longer and what most early teenagers do. Also, you don't want to open to many new accounts at once. That will deny you anything new and look bad.
Save up money in your bank accounts no matter the amount.
Get a credit card through the bank and use it and pay it off on time and in full. When you have enough money saved up in those accounts get a cheap loan from your bank. The cheapest you can get ($500-$1000). Pay it back no matter on the interest.
After a year or so, you will have the best credit on the planet.
I know you need it now, but we all need things now.
18 and no credit/ bad credit to get a loan is like an illegal trying to get a government job.
Join the conversation - Register now or Sign in to add your comment


Moderated by  isaac 

Customize Your Toyota CelicaPrivacy Policy · About · Contact
CelicaHobby.com is an independent Toyota Celica enthusiast website. CelicaHobby.com is not sponsored by or affiliated with Toyota Motor Sales, USA, Inc. in any way. The Toyota and Celica names and logos are trademarks owned by Toyota Motor Sales, USA, Inc.
© CelicaHobby.com, 2001-2016