Quote:
Originally Posted by kevin1106
I think you could get the loan, but will be hard for you. I've heard most dealerships dont even waste their time if your credit score is under 700. So if you do get a loan, you will have a high interest rate...
Advice for you....trust me, I have a 817 credit score....
I'd buy a car for around 15k... Put your 10k down.... Do a 3year loan on the rest... Try to pay it off in a year... Then you will have some decent credit to show...then go for the SS that you want....during that time frame, get a credit card and use it wisely... Don't max it out,but use it every month and pay all of it off every month, but leave a small balance.... Like 50.00... Next month,use it again... An do the same...
This is the best way to get your credit going in the right direction... Just don't be late on any payments... You'd be doing this for nothing if your late..
GL
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Thanks for the great advice but don't you think buying a $15,000 car to build credit to lower interest rates on a $40,000 car will cost me more in the long run then the higher interest rate? Also what is considered high?