Someone Please Help!! Credit Advice!!

[Anonymous]

Hello,

I'm am 25 years old and have NO credit established. I have pulled my credit with experian equifax and transunion and all 3 bureaus have reported "0" "insufficient credit history" I want to purchase a car soon but if forced to I will continue to keep my car if I am told I will have a outrageously high interest rate. On my credit report is a credit card with a balance of 1,000 ( will be 7 yrs in 2 months)  that is in collections and 3 other collections all balances under 100. Please help me. Do I pay off the card? Wait since it is about to be 7 yrs? Dispute the other collections or what? Any help on something I can do in the meantime that will increase my scores will be greatly appreciated. Thank you so much!

[Anonymous]

You did not post enough information.

What is your income?  What is your DTI?  How much down do you have?  How much car are you looking to buy (how big of a loan)?

When you don't have credit, then price of car, amount of down, amount of debt and income are going to be pivotal.

[Anonymous]

Sorry, Currently my YTD gross is 39K I do work commission + salary so just to be conservative lets say 65-70K I have no revolving debt going by the credit report. Current car is paid off only monthly obligations are rent,utilities etc...  I was looking to put down roughly 5-7K down and finance 20K I do not  want a car note over 500 so how much I put down would depend on what I could get the monthly payment down to. Thank you