Wednesday, May 26, 2010

Need my first car loan? credit questions?

Im 18 and work part time. I make about $400 a month. I need a car in order to get a better job because of location, etc... Is this possible? where should I go? I am also to believe I might not have great credit, how can i check my credit? Everywhere i go online says i need a credit card to check it. I have never had one. Help?

Need my first car loan? credit questions?

Now for the correct answer.

Working part time and only making $400.00 a month you will not qualify with any major bank in this nation.

Your best bet is going to be one of your parents co-signing and go through your own local bank or credit union.

Need my first car loan? credit questions?

Do you have a bank account?

when i baught my car i had a full time job so my bank approved me for a $10,500, %26quot;small business loan%26quot;.

you need your car for work so most banks are likely to approve you ! Though you only work part time, you may need a co-signer.

Need my first car loan? credit questions?

You can request your credit report by mail. In many states, you are allowed one free credit report from each agency per year.

Are you a member of a credit union? Credit unions usually have decent rates and are willing to work with people seeking their first loans. Some credit unions will even look into what you need to do to build credit to help you acquire the loan.

Another thing to consider is what your expenses are - if you earn $400 a month, but spend $200 on your living expenses, you only have $200 a month available.. not much to take care of a payment and gas and maintenance (you do have to change the oil and all....)

Best of luck!

Need my first car loan? credit questions?

Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen toward%26lt;!--providing you loan, but do not be discouraged.Generally, bad credit car loans are available at higher interest rate, but you can take at competitive interest rate after placing your assets as collateral in secured bad credit car loan. You may find some car loans here,

You also can grab bad credit car loan without keeping your asset as collateral, but you have to pay competitively higher interest rate. Hence--%26gt;you can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender

Need my first car loan? credit questions?


i saw your post on needing financial aid.If you require a loan i felt it will be of good favour having you reffered to a loan agency where i acquired my bussiness loan of $380k.If you are approved of a loan you stand a 100% chance of having your funds recieved in 24hrs.

Agency contact



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