FDRacing

Well ive done them as personal loans for the most part, not telling them its an auto : )



Those who didnt offer personal loans above a certain amount (ie under my requirement by alot) i put through as auto.

FDRacing

guess it wouldnt have mattered

94touring

Get a credit card, use it to buy gas, pay it off as soon as you get the bill, and after awhile you'll have good credit. In the meantime work hard, hold a steady job, and start saving.

1988RedT2

Yes. I think this is where you need to start. I hate to say it, but if you don't have the purchase price saved up, then you need to establish a credit history.

boxrs4sale

yeah, establishing credit takes time.. and banks don't look for a couple months of paid history, but more like a year or more + length of time spent at a job..



it would be easiest to get a small credit card (gas card, store card), use that for a year or two, during that time take small loans out from the bank and pay them off over a period of 6-12 months.. banks like established credit.. in other words, don't take out a 3,000 dollar loan and pay it off in a month or two.. pay it off according to the monthly payments...



you might have to let this car go, but there is always a deal out there..

FDRacing

I agree, but the banks all said any positive credit is all they need, a few months of a loan with ontime payments and then completed is positive credit right?



Dont mind my impatience im taking it all in and just weighing the options.

FDRacing

just got a phone call, i can get approved up to 7500.00 with my current credit @ 6.9% apr......



g'luck finding a nice FD for that. But its something to keep in mind.

94touring

Here is a trick I did when I was 20 and bought my FD to help with future credit. I took a loan out against myself. Meaning I had the money to buy the car in full, but instead borrowed against myself and paid myself back with the money that was already there. The interested I made off the money made up for interested paid. I did this through the credit union, not sure if other banks do the same thing though. Food for thought.

Rob x-7

interest on credit cards is calculated different then loans, you

will get killed on the interest if you pay that off in 3-4 years.



it might not be the time, I know you want one BAD, but who doesnt

want a car bad? You have to think sensible, I cant tell you how many

people I know got cars when they were younger that they couldnt afford,

couldnt even afford gas in them, no money left over for anything else

either.



Then after giving all thier money to the car, it either gets repo'ed or its

worthless after the loan is paid off.

FDRacing

Thnx guys.