Auto loan/Repo

[Anonymous]

I had an auto loan in 2005 that got repo'd because I was going through some personal issues back then. The repo fell off my reports last year and so did all of my paid off collections I had. so as of last year I started off with fresh and clean reports.

Well, I'm thinking about getting an auto loan this summer and my question is am I considered a first time buyer since my reports don't have any auto loans on record? My longest history is a Cap1 secured card that I got in July 2012. I have 3 credit cards and 2 store cards at the moment

Do you think I'll qualify for an auto loan with only a year of history in July and am I considered a first time buyer?

DCU Visa Platinum 11/12

Discover 1/13

Express 1/13

Walmart 1/13

annual income 18k, but I make over 20k with side jobs.

[Anonymous]

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@Anonymous wrote:

I had an auto loan in 2005 that got repo'd because I was going through some personal issues back then. The repo fell off my reports last year and so did all of my paid off collections I had. so as of last year I started off with fresh and clean reports.

Well, I'm thinking about getting an auto loan this summer and my question is am I considered a first time buyer since my reports don't have any auto loans on record? My longest history is a Cap1 secured card that I got in July 2012. I have 3 credit cards and 2 store cards at the moment

Do you think I'll qualify for an auto loan with only a year of history in July and am I considered a first time buyer?

DCU Visa Platinum 11/12

Discover 1/13

Express 1/13

Walmart 1/13

annual income 18k, but I make over 20k with side jobs.

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You might be able to get a high interest loan with a good down payment. Sounds like you will be a first time buyer, but that probably isn't your biggest problem. The problem is likely the short history.