cant get a car to save my life

[graywolf_14]

Ok I am looking for a new car and it has been tough. I am 20 with a 0 credit score and no money down. I tried to get a 2000 impreza for 13k and a 02 svt focus for 10994 and got denied for both. Thanks to my bro I have noone to cosign for me. I need a car in less than 3 months because that about how long my motor will last. I could fix my car and save but I wont be able to save for 2 years because I have about 200 a month to sit back and it will take about 2k to fix and end the end will only be worth about 1800.

[ECHOKnight2000]

Ok I am looking for a new car and it has been tough. I am 20 with a 0 credit score and no money down. I tried to get a 2000 impreza for 13k and a 02 svt focus for 10994 and got denied for both. Thanks to my bro I have noone to cosign for me. I need a car in less than 3 months because that about how long my motor will last. I could fix my car and save but I wont be able to save for 2 years because I have about 200 a month to sit back and it will take about 2k to fix and end the end will only be worth about 1800.


I think the fact that you have no credit that hurts. Pretty much every loan is based off your credit history obviously there are other factors but credit is big. They look at how responsible your fiscal spending is. Also do you have a job? That's a big factor. So maybe get a credit card start charging! Okay don't get into debt:tongue: Just because you have a credit card doesn't mean you have to charge tons on it, maybe just little stuff that you can pay back and over time it will build your credit. Or trying buying a car from a private party rather than a dealer? Good luck!!:thumbsup:

[graywolf_14]

I make 3100 after taxes a month. I have tried to get 8 credit cards, 3 personal loans, 3 cars and have tried to see what I could about 5 times.

[Blenjar]

Try citibank...I got my first credit card there...
Maybe it was because I had a loan on me..maybe yes maybe not..give it a shot.
Credit Card I got was Driver's Edge..

-- Blen

[spkrman]

If you have $, and have held your job for any period of time... *someone* will lend you $, believe me.

[mutatio]

u don't have parents or other relatives who might help u out?

[graywolf_14]

My bro screwed that over for me by having family cosign and lost cars so now noone will. My gf said she might but she dont like any of the cars I found. She wants me to find some plain car but I want something that reflects my personality.

[hasher22]

there a little companies that WILL give u loans, just have to search for them

but little companies maybe lead to HIGH interest..and u dont want that

[static808]

I make 3100 after taxes a month. I have tried to get 8 credit cards, 3 personal loans, 3 cars and have tried to see what I could about 5 times.

wow, that means you roughly make $50K a year before taxes (pretty good for a 20 year old), and no one will give you a loan?? banks must be stingy where you live...

--B

[johnnyfive]

I could fix my car and save but I wont be able to save for 2 years because I have about 200 a month to sit back and it will take about 2k to fix and end the end will only be worth about 1800.

so you only have 200 a month to save, does that mean you would only have 200 a month to make payments, and insurance?

[graywolf_14]

No that is just what my um financial um advicer said I could..... For payment I am looking for under 250 a month.

[graywolf_14]

If my gf is cosigning the insurance is going in her name.

[Toyota005]

Have you tried to get like a shell or Chevron gas card? When I was 17, I was able to get a shell credit card pretty easy. I would use it only to get gas and then pay it off each month. It was easy to get and it built my credit up fast. Just a thought.

[Pompeii66]

I have tried to get 8 credit cards, 3 personal loans, 3 cars and have tried to see what I could about 5 times.

:frown:

There's a problem right there.

:frown:

[07WYarisRS]

Everytime you apply for credit it goes on your credit report. A Bank will look at that and see that you are a credit seeker and will usually deny you on the spot. Credit seekers are a high risk.

If you have a car, use it as a trade, even if it's only good for $500... that helps. if you can get a friend or even employer to cosign that's even better.
Talk to the delaership... they have several different routs that you can take if you really want the car.

[Racheal]

chase.com -- they will give ANYONE $500 dollar credit limit. I filled it up and paid 300 a month on that little baby and each time i did, they kept upping my limit. I'm sitting at a 1600 credit limit and i have student loans in my name. I've had both my credit card and student loan for over a year and a state job for over a year. With credit - it takes time.

[graywolf_14]

Well I dont know were a shell or chevron gas station is. We mainly have quick trips, presto and phillip 66(presto) and a few small ones.

[kdctuning]

My credit is in the craper for not paying my bills on time, but I got approved for a $18900.00 for my Impreza 2.5i with a 200 credit score with a thousand down. Capitol One Auto Financing Is a good company, but you get high financing. Have them try there.

[spkrman]

My credit is in the craper for not paying my bills on time, but I got approved for a $18900.00 for my Impreza 2.5i with a 200 credit score with a thousand down. Capitol One Auto Financing Is a good company, but you get high financing. Have them try there.

exactly... :)

There is some good $ in selling a car, taking a few payments, and then getting that bish back.... and doing it over a few times... especially if you are raping them on the interest rate the whole time.

[mutatio]

whatever happens, all i can say is, haggle! lol but really, you're likely to get knocked on the interest rate initially so try and get them to come down on the price. if you are peristent enough u will even be able to find some dealerships willing to deal at invoice for a yaris. bite the bullet on the interest, work your butt off for a few months to make the payments, get a credit card to buy things you would usually use your checking account for and pay off the bill each month from your actual checking account, check your credit score, and then, assuming it has gone up due to reliable car payments and such, check out your local credit unions for deals on refinancing. :)

[kdctuning]

I'll tell you how it works at Subaru. There is sticker, invoice and then invoice hold back which is dealer invoice minus a $1000 ( a kick back from the manufacter ). Usaully you can not haggle a deal down into it's hold back, but if you hit the right sales person you can. Just hammer away at them till they crack. Because at this time of year, everyone is slow and trying to sell a car, so some dealer will haggle with their banks to make it work.

[501]

you should look into new like a scion. because toyota finacial has first time buyer programs with some cash down on the scions, the risk factor on the bank side is low on new. just a thought