First Time Buyer, Lost, Help??

[Anonymous]

I am a first time buyer, will be eighteen in less than a month, I'm looking to buy a new car before I go away to college in the fall, I am saving money up, but are my hopes of getting a car completely hopeless?

I will need to get a loan for a car, and my dad's credit isn't good, along with my none excistant credit, should I just give up?

[Anonymous]

Do you have a credit card?

A lot of car dealerships offer review of the loan in 12 months.....for those who are less qualified. Once you show 12 months of ontime payments you become more credit worthy.

A good friend of mine bought in 1999 a car at 24% interest rate because of no credit.........the downfall was he never bothered to refinance.............

If you have no cosigner, nor a credit card (that built a score) you can do this yourself, just shop the rate and just revisit and refinance later.

Message Edited by 1111mel on 02-04-2009 10:53 PM

[Zahnrosen]

You'll probably want to pull your credit scores. If your over 600 - 650 you should be in decent shape to buy a car. Having a downpayment will help a lot.

How much money do you have saved up so far? What kind of car do you want to buy? 

Please, post back here with that information and what your current score is. If you can afford it, I suggest the Score Watch product from this website. Its $89 a year and gives you your credit scores for a whole year. Anytime theres a change it will notify you so you'll know whats going on with your credit at all times. Its a great way to get control of this. I highly recommend it, whether you buy a car or not.

[elaine829]

MY DAUGHTER HAD THE SAME PROBLEM SHE WAS TRYING TO GET A CAR ON HER OWN WITHOUT A COSIGNER BUT SHE DIDNT HAVE ENOUGH CREDIT HISTORY SHE ONLY HAD 6 MTHS OF A CREDIT CARD PAYMENT. SHE HAD A CREDIT SCORE FOR ALL THREE BUT EVERY DEALERSHIP SHE WENT TO THEY SAID THAT HER CREDIT HISTORY WAS TOO SHORT FOR HER TO GET A LOAN BY HERSELF WE EVEN WENT TO COMMERCE BANK WHERE WE BANK AT AND THEY WOULDNT GIVE HER A LOAN. SO MYI ADVICE TO YOU IS GO ON CRAIGLIST, TYPE IN YOUR STATE AND THEY HAVE SOME NICE CARS THERE.