Ive been working on my score and have brought it up 100 points in the last year 490 to 596. A local credit union pulled my experian score today and it was 596. I'm trying desperatly to buy a used truck from a dealer for $8900. It is a 2001 ford f250 diesel 4wd with 144xxx miles, bluebook is $13,000. I have $2500 down payment. The dealership has only been able to get me approved with a cosigner. I have no one to cosign for me. I have not been able to get a loan anywhere I have tried because they say the vehicle is too old with too high miles. Ive tried USAA, Wells Fargo, local credit unions, even some online places. I dont mind a 20% apr as I can refinance in another 6-8 months with a higher credit score. Can anyone recommend a place that will finance me for $6500-7000? A problem I am running into is that I recently started my own business 3 months ago. My previous employment was for more than 2 years.
Any suggestions besides finding a cosigner?
Buy a $2,000 truck and keep $500 for repairs while you continue to work on your credit.
If I could find a $2000 dollar truck that could tow 10,000+ lbs I would. But I need a diesel for work, at least 3/4 ton. my mom has the same truck a year older with 310,000 miles and shes dropped about $4000 total in repairs since she bought it used in 01. I am making plenty of money to pay monthly payments and if I didnt need business capital I would just buy it cash.