i am wanting to get a loan for an fd soon and want to get some help from some of you guys who have gone through this before.



i am 18, no-one to co-sign with me, i make about 850/mo. (yes, all of my money will go to the fd) and have no credit and i am looking to get a loan for 13500 (1500 down).



i applied at key bank today and they will tell me tomorrow, but it doesnt look good.



is there any other option for me.

Very few banks will offer car loans on cars that are around 10 years old. Good luck.

Really,

Being 18, Unless you have great credit, own items of more value than the loan you are seeking or Have a co-signer.

The odds really aren't in your favor https://www.nopistons.com/forums/pub..._DIR#>/sad.png

Because the bank will expect you in the next few years to pay rent, ect. There is usually a percentage that the bank requires you to keep in order to survive. Regardless of what you will actually contribute.

When you go to the bank, if they decline you.

Ask why? Get thier advice on what you can do to help yourself.

Banks make money lending money, so they'll always point you in the right direction.

Good Luck!

yeah, i just applied for the student key bank mastercard, so that will help my credit a little

good advice trice



well basically, to get a loan, you have to prove to the bank that you don't need it. i.e. you take in X dollars per month/year/whatever. sorry to say this, but if you don't have a co-signer, i would think your chances are pretty slim.



i do remember reading about some internet credit union/bank about this time last year. it seems this institution is very willing to work towards getting you a loan.



good luck with it, keep us updated on it.



Jimmy

yeah, i have to have someone cosign the loan with my, so no fd for me i guess. my dad doesnt like the car so he wont cosign the loan, but if i wanted a dodge truck he would pay for it for me.



**** parents

What!

Seems easy enough to me. . .

Get dad to buy the truck. . .Sell the truck, use money to buy your FD!

Easy stuff!

https://www.nopistons.com/forums/pub...#>/biggrin.png

Or earn the credit to buy the car . . we'll call that plan "B"

I was going thought the same thing. It wasnt until I sold my GT that I had the money for A FD.

For me, I had a 3500 downpayment plus another vehicle + $11k to put up as collateral. The bank was more than willing to give me the other $10k to buy my FD. I'm 20 (19 when I got the car) but another thing I have going for me is that I'm USAF. So I have a steady income without fear of being fired. I take home around $1100/month as an E-3.



Mind you, I got my 93 in 2002, had it been 2003+ I would've had to spring for a 94 or 95.

I got a loan for my FD about a month ago. I was 20 years Old, NO CREDIT, and just moved out. I just went to my bank (credit union) and asked for a $5,000 loan and I got it. My APR is 4.9% for 4years. But I'll pay it off sooner. Make sure you bring one of your higher paychecks. It will better your chances. good luck! Ive had this car for a month and I have 5mins of seat time!!

Well I bought my car when I was 18. No bank will give you a loan for an FD. Your best bet is to find an online lender. PeopleFirst is who I got my loan for. I did have to get a co-signer. I have 3 credit accounts that I have never missed a payment on. I have a full time job making more then enough to pay for an FD. Even still the odds of me being able to take out a loan for myself is pretty slim.



Getting a credit card won't help. Credit reports are updated every 6 months so.....you have a long way to go. Best bet is to just save your money. Or sell your soul! Like I said...PEOPLEFIRST!

I belong to the Corning credit union and can get a loan for anything I can prove the value for. When I was 20 I got a 19k loan for my FD. Course I had a job for 2 years, had good credit, and was making some good money. Then about a year ago I bought my 70 Mini and took out a loan for 18k....thats right a 18k loan on a car that blue books about 50 bucks and its 30 years old. Start building up some credit and give it some time, you'll be able to get your FD.

thanks alot guys

Side note here: Your Dad may have a hint that it will cost more to keep an FD on the road than a Dodge truck. He's also afraid that you'll wrap the FD around a telephone pole. Give your Dad a break. He knows more than you think, and certainly more than you, and he's got a damn tough job, although you may not recognize that fact now.

yeah you would be right, but my dad didnt know what a rx-7 was when i told him i wanted a loan for one. he has no clue that it is even turbod or is a rotary.

alright, i got another job and will earn about 200+ dollars a month, so like 1000 or so a month, should i try and get a loan again but put down 2000 now?

Hrm...how to get a loan...



Walk into a bank, pull out your glock and point it at the teller. Then proceed to yell "bitch, give me my ******* money!!"



With any luck you'll be on your way home with money in hand.

Note: The above technique is recommended only for those individuals who have a severe need for immediate gratification. Some unpleasant consequences could potentially arise from taking such action, including, but not limited to arrest, conviction, and buttrape.

it's a knick knack, Paddywhack, give the frog a loan.

should i re apply for the loan, if i dont get it again, my credit will suck ass even more. i have also had the 2nd job for 4 years now.

https://www.nopistons.com/forums/pub...IR#>/blink.png hahahaha....