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SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! #386655 Jan 28, 6:00pm Jan 28, 6:00pm
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SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY!
what do you recommend?

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: fabric862] #386656 Jan 28, 6:04pm Jan 28, 6:04pm
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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.


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Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: fabric862] #386657 Jan 28, 6:13pm Jan 28, 6:13pm
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I need to do this on my own, my parent wont help.

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: fabric862] #386658 Jan 28, 6:20pm Jan 28, 6:20pm
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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


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Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: RedSunCelica] #386659 Jan 28, 6:25pm Jan 28, 6:25pm
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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.

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: fabric862] #386660 Jan 28, 6:33pm Jan 28, 6:33pm
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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


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To know even one life has breathed easier
This is to have succeeded.
Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: xTc_celica] #386661 Jan 28, 7:07pm Jan 28, 7:07pm
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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.


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Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: Polykarb] #386662 Jan 28, 7:43pm Jan 28, 7:43pm
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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.

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: L3M1315] #386663 Jan 28, 8:29pm Jan 28, 8:29pm
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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.





Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: Skyla] #386664 Jan 28, 8:37pm Jan 28, 8:37pm
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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


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Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: eric_h] #386665 Jan 28, 10:22pm Jan 28, 10:22pm
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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

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: fabric862] #386666 Jan 28, 11:19pm Jan 28, 11:19pm
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Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: KULOD] #386667 Jan 28, 11:36pm Jan 28, 11:36pm
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my parents co-signed for me when i got my first car, now after 2 years i got this celica under my name.

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: KULOD] #386668 Jan 28, 11:41pm Jan 28, 11:41pm
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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

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: Dragon5180] #386669 Jan 29, 2:14am Jan 29, 2:14am
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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.


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Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: e_degala] #386670 Feb 5, 3:45pm Feb 5, 3:45pm
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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

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: WantaToyota] #386671 Feb 6, 12:45am Feb 6, 12:45am
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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

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: Loth] #386672 Feb 6, 8:37am Feb 6, 8:37am
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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

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: AdamVIP] #386673 Feb 6, 9:55am Feb 6, 9:55am
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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."
Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: jyboygenius] #386674 Feb 6, 10:37am Feb 6, 10:37am
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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.

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: yellowgt] #386675 Feb 6, 10:46am Feb 6, 10:46am
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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.

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: xTc_celica] #386676 Feb 6, 5:35pm Feb 6, 5:35pm
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I'd have your parents sign for it. Then just transfer payments into their account. OR get a credit card and start using it.

Re: SERIOUS TOPIC: I NEED A CAR LOAN BUT I AM 18, NO CREDIT HISTORY! [Re: fabric862] #386677 Feb 6, 6:42pm Feb 6, 6:42pm
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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.

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