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Hello, Little about me..I am the finance director at a dealer here in colorado and have been doing this for a long time. So please take my advise. What a bank will look for as some ahd said here is crdit history not how many cars you have. they will also look at comprable credit IE if you have never had a 22k loan before and a comprable payment they will not loan you that kind of money. Your best bet is to have a cosigner or settle for a first time buyer car.
To answer your question on how it will take you will need a min. of 2 years on file with a 2500 dollar high on one trade line. At those min. req. you would be able to finance a cobalt or aveo. You have to crawl before you walk.
Could you get a high score fast? Yes, but its what we call and the banks call a fake score meaning it does not show anything about how you handle your financing.
If you do get the loan by yourself expcet 21% that is a 1st time buyer rate. Gmac no longer has the smart beggings program that gave lower rates to 1st time buyers.
Sorry to p*ss in your cheereos. Again your best bet is get a cosigner and stop with the credit cards. Don't talk to a bank aboput how to get your score up it doesn't matter you have to build your credit and they will sell you the credit accounts anyway that thier job to open accounts they get paid for it. They don't care about your financial future, I know my wife is a personal banker her bonus depends on how many accounts she opens and she a a daily goal also.
Hope this helps.
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