Hi everyone! I am new to this forum so please forgive me for any mistakes I make 
I just started building my credit about 6 months ago. I finally generated a fico score with Experian which is a 716. My auto fico score is a 710. According to Upstart, my scores are: TU: 706 EQ: 678 and my vantage score is 680.
I have a self lender credit building loan for $1000 that I started in February along with a discover secured card for $200. A couple months later I acquired a capitol one secured card for $200 as well.
I need to purchase a car. I make about $39000 yearly pre-tax and about $2100 a month after tax (commission tax life 😖). I am trying to finance a car around $5000 with a 36 month loan. I would prefer to buy from a private seller. I have found a car I like, it's a 2006 scion with 55k miles. I am also open to getting a slightly newer car. Should I even try getting a loan, or will my short credit history stop me from getting one? From reading the forums, I think DCU is my best chance, but I just don't want a hard inquiry if I really don't have a chance of getting a loan. I know it's harder to get a loan for an older car, but I don't think it's within my means to finance a new/ newer car. I'm feeling so discouraged.
I'm sorry this post is so long, and would really appreciate any and all advice!!
I just started building my credit about 6 months ago. I finally generated a fico score with Experian which is a 716. My auto fico score is a 710. According to Upstart, my scores are: TU: 706 EQ: 678 and my vantage score is 680.
I have a self lender credit building loan for $1000 that I started in February along with a discover secured card for $200. A couple months later I acquired a capitol one secured card for $200 as well.
I need to purchase a car. I make about $39000 yearly pre-tax and about $2100 a month after tax (commission tax life 😖). I am trying to finance a car around $5000 with a 36 month loan. I would prefer to buy from a private seller. I have found a car I like, it's a 2006 scion with 55k miles. I am also open to getting a slightly newer car. Should I even try getting a loan, or will my short credit history stop me from getting one? From reading the forums, I think DCU is my best chance, but I just don't want a hard inquiry if I really don't have a chance of getting a loan. I know it's harder to get a loan for an older car, but I don't think it's within my means to finance a new/ newer car. I'm feeling so discouraged.
I'm sorry this post is so long, and would really appreciate any and all advice!!
@Anonymous wrote:
Hi everyone! I am new to this forum so please forgive me for any mistakes I make
I just started building my credit about 6 months ago. I finally generated a fico score with Experian which is a 716. My auto fico score is a 710. According to Upstart, my scores are: TU: 706 EQ: 678 and my vantage score is 680.
I have a self lender credit building loan for $1000 that I started in February along with a discover secured card for $200. A couple months later I acquired a capitol one secured card for $200 as well.
I need to purchase a car. I make about $39000 yearly pre-tax and about $2100 a month after tax (commission tax life 😖). I am trying to finance a car around $5000 with a 36 month loan. I would prefer to buy from a private seller. I have found a car I like, it's a 2006 scion with 55k miles. I am also open to getting a slightly newer car. Should I even try getting a loan, or will my short credit history stop me from getting one? From reading the forums, I think DCU is my best chance, but I just don't want a hard inquiry if I really don't have a chance of getting a loan. I know it's harder to get a loan for an older car, but I don't think it's within my means to finance a new/ newer car. I'm feeling so discouraged.
I'm sorry this post is so long, and would really appreciate any and all advice!!
I would check with your local CU first and ask them without running your credit and see what they think.
