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Thin Credit - Which lenders are best for my scenario?

New Member

Thin Credit - Which lenders are best for my scenario?

Hello everyone!


I have been shopping for rates since monday through the dealer and penfed and have had no luck so far. 

I keep getting the same response of having very little credit history and that i should apply with a co-signer, however i am unable to find a cosigner.


Are there any lenders out there that i may have a chance with? I have received suggestions of talking to a loan officer directly in person. Thoughts? Anything Helps!


Here's what i'm looking for, and my situation:

Looking for: $59,991

Downpayment: $6,200

So with state taxes and other fees, the base amount i'd be financing would still be $59K

The vehicle is a 2013 Nissan GT-R.


Age: 28

Income: $103,000 / Yearly

DTI: 18%


Fico Score 8 Equifax: 747

Transunion: 715

Experian: 738


According to my FICO report, the average age of accounts is : 4 yrs and 8 Mo.

I've finished paying off a capital one auto loan of $19,999, and still paying student loans off.

I have one credit card: Chase that i opened up 5 months ago. 6% Utilization.


Thanks again, anything helps!



Established Contributor

Re: Thin Credit - Which lenders are best for my scenario?

First the answer you want to hear - Try credit unions like DCU.


Now the advice you don't want to hear.  Reflecting on past mistakes purchasing nice cars was one of my worst financial mistakes. 

If I had to do it all over again I would have forgone the nice new cars and purchased a condo in my early 20's.  If I did that with it's appreciation (at the time) I could have easily stepped up houses a few times and been in a very nice house by now.


Just taking some gueses here that a 60K loan will run you from $975-$1,050 a month.  Are you sure you are comfortable with that type of payment?  Put that payment in the bank for 3 months and see if it really is OK.


Also consider alternatives.  I know it's not the same but you can lease a BMW 3 series for low $400's sign and drive not a penny down.  Not my dream car either but it doesn't stink.  The  $600 a month difference over 6 years (3 year lease but let's assume you do it 2x)  is $43,200 before any interest that could be used as a down payment on a house.  Where do you see yourself in 6 years?


Also a 2013 is almost 6 years old now and will likely need some maintenance which can be expensive on a Skyline no?


Just the confessions of a car  addict:

1984 Dodge Daytona

1985 Mustang GT

1987 Mustang GT

Mazda MX3

Acura Integra

 Mercury Mountainer

Ford Taurus

1996 Camaro

 Honda Prelude

Mitsubishi Eclipse

1984 POS Nissan beater SUV

Jetta Wolfsburg


Infinity Q45

Nissan Altima

1996 Corvette

2003 10th Anniversary Mustang Cobra heavily modded to 600RWHP

2016 Mazda 3


I am sure I am missing some cars and those were mine not my wife's.

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Frequent Contributor

Re: Thin Credit - Which lenders are best for my scenario?

Your file isn’t exactly thin. 4 years is your Aaoa? And your income is great, your scores are good. Something doesn’t seem right.
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