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Im 20 years old....I have a '00 civic si that my parents bought for me as a graduation gift back in high school. Im trying to sell it as of right now....looking to get $14k-$15k. I am also work part time at a car parts store, but I have only been working for about a month. I got my first credit card about a month ago too. Its my second job, although I only had my first job for like 6 months about a year and a half ago. Im looking to get an SRT-4 this June or July, and will probably need to finance $4000. However, I wanna get it financed without a cosigner. Typically, what do you need to get financed....as far as credit history, and jobs etc?

p.s. I would have enough to buy the car in june or july, its just that I owe my mom some money because she has been paying for my car insurance and tuition for community college. I just want to re-pay her before I transfer to a school in NY in the fall.
 

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Usually if you're putting down a big amount, such as 1/3 or 1/2 down, they almost finance anybody.

The only problem they might have is your jobtime and income.
 

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Good question. Try your local bank for a unsecured loan first (check on the rates). Check your credit cards (sometimes you get checks in the mail to transfer bal. etc) to see if you could put it on one of them . Try credit unions etc also.
 

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If you're only looking to finance 4K, then you should have no trouble getting yourself financed solo...unless you have terrible credit, and even then it's still not impossible if you don't mind paying loan shark rates ("Buy here, pay here...we finance everyone!")
 

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Hunter, it is all about credit history and so far your's sounds kinda green.

Some things that go into getting a car loan are this:
Do you have an established checking and savings account in YOUR name?
Do you have any credit cards? balances? late payments?

Credit cards are real good because they show payment history
Do you own your own cell phone?
Do you have school loans? other loans?
What is your income?
How long at current job?
How long at current residence?


For OBVIOUS reasons and security, DO NOT POST answers to theses questions on this thread. They are questions for you think about. They (creditors) look for stability and they look at debt to income ratio. It sounds like you will have a substantial downpayment and that is a good thing. Another piece of advice, do your home work on your creditors. Don't go around to ten different places and apply for a loan. EVERY time a creditor does a credit check, you lose points. Credit reports are based off of a score. 1000 is perfect and I've NEVER seen that before. You get points or subtraction of points for every thing you do (credit wise) in life. I used to sell cars so I know a little about this process. PM me if you have any other questions or if you need any clarification! :D
 

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drizze99 said:
Hunter, it is all about credit history and so far your's sounds kinda green.

Some things that go into getting a car loan are this:
Do you have an established checking and savings account in YOUR name?
Do you have any credit cards? balances? late payments?

Credit cards are real good because they show payment history
Do you own your own cell phone?
Do you have school loans? other loans?
What is your income?
How long at current job?
How long at current residence?


For OBVIOUS reasons and security, DO NOT POST answers to theses questions on this thread. They are questions for you think about. They (creditors) look for stability and they look at debt to income ratio. It sounds like you will have a substantial downpayment and that is a good thing. Another piece of advice, do your home work on your creditors. Don't go around to ten different places and apply for a loan. EVERY time a creditor does a credit check, you lose points. Credit reports are based off of a score. 1000 is perfect and I've NEVER seen that before. You get points or subtraction of points for every thing you do (credit wise) in life. I used to sell cars so I know a little about this process. PM me if you have any other questions or if you need any clarification! :D
Why do they take points off for a credit check?

-faast
 

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i thought they stopped this this year because of all of the internet sites. they were supposed to let you unlimited credit checks for 3-4 months.

i guess they figured that if more than one bank turned you down there had to be a reason.
 

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lifeisdeath said:
i thought they stopped this this year because of all of the internet sites. they were supposed to let you unlimited credit checks for 3-4 months.

i guess they figured that if more than one bank turned you down there had to be a reason.
I had always heard that too...every check of your credit showed up and if you have too many hits in a short period of time it counts as a negative. I've never heard about that being repealed.
 

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last i saw they take 2 points for every credit check, the reason they take away is if someone sees you had a bunch of checks all it once it can throw up a flag. i guess meaning if you try a bunch of places then you don't look stable or that sort of thing
 
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