loans

[derek33 10+ year member]

Im 20 years old, ive been using a credit card for less then a year (make all payments on time). I was hoping to get a 10k loan for a car, but the bank said with my current credit situation (not long enough) they probably wouldnt provide me a loan.

any of you guys buy your jeeps with loans? where else can i get a loan for that much without a high apr?

thanks,

Derek

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[snova031]

Can't get a parent to co-sign?

 

[Calikid 5,000+ posts]

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[derek33 10+ year member]

i was hoping to go around that option... they dont have quite the best credit

 

[crunktimes.com 5,000+ posts]

Wait another 6 months and if you have been paying things on time as you say you should have no problem.. I would still try though I got an auto loan with only about 6 months credit history for 8k.

 

[derek33 10+ year member]

how much did you have in the bank at the time (if it matters and you dont mind me asking) and did you get it from the bank? which bank?

 

[Louisiana_CRX 5,000+ posts]

maybe you should try for 8k instead of 10k

 

[crunktimes.com 5,000+ posts]

It was a local loan place here called Ideal Financial, I had like 3k in the bank and I paid I think 8%

 

[Chevillac 5,000+ posts]

are you talking about your bank(that wouldnt give you the loan)? try capital one, they gave me a loan on my car, I had just turned 21. Check your credit score. They approved me for more than I needed. I had 2 or 3 credit cards at the time.

 

[Jameseypoo 5,000+ posts]

I needed a cosigner for my student loans and for my first car. When I bought my Durango for some odd reason I didn't need a cosigner and everything ended up being around $16,000. I'm pretty sure I also had less than $100 in the bank. I've had credit cards in my name since I was 16 though and when I bought the Durango I was 21.

I've learned that it's better to have an older car that I don't need to make payments on. Next time I buy a new/slightly used car I will definitely be out of college into my career job. No sense in trying to make payments on a car while I'm still in school.

 

[derek33 10+ year member]

all these places want a minimum of a 1200 monthly income. im only making around 800 since im also a full time student

 

[bigbangtheory 5,000+ posts]

are you talking about your bank(that wouldnt give you the loan)? try capital one, they gave me a loan on my car, I had just turned 21. Check your credit score. They approved me for more than I needed. I had 2 or 3 credit cards at the time.

That is who I went through and my credit is not that good, well around 600, but I had a bankruptcy no more than 4 years ago and still shows up on my credit. That and I have like 3 CC maxed out, lol!

Paying those off income tax time, which is next month, woot!

 

[djman37 5,000+ posts]

Im 20 years old, ive been using a credit card for less then a year (make all payments on time). I was hoping to get a 10k loan for a car, but the bank said with my current credit situation (not long enough) they probably wouldnt provide me a loan.
any of you guys buy your jeeps with loans? where else can i get a loan for that much without a high apr?

thanks,

Derek

join a credit union and open a savings account. As a member it'll be easier to get a car loan. I got 9.9% WHILE IN chapter 7.