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!
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!
