31
Jul
What Kinda Credit Do You Need To Buy A Car?
I have no credit but a contract for my phone with at&t so… What kind of credit do I need to buy a car?
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You need a co-signer.
July 31st, 2009 at 2:40 pmLook into what car dealership around you have a first time buyers program, this will insure you the best intrest rate and low payments, your job time will also play a big part of how much you can get financed. Co-signer will only insure the bank that there is someone with something to lose in case they have to repo your car, it will get you a lil better rate. try to be around 8-10,000 for your first car your payment sould be $200-225 if it isnt make the dealership make it that payment trust me they can.
July 31st, 2009 at 2:40 pmI think anyone can buy a car the only thing that changes is the interest rate. You’re more likely to get a good rate if you or a cosigner has good credit, otherwise your payments will be unaffordable and you’ll pay way more than the car is actually worth. It also helps if you have a good down payment if your credit isn’t great.
July 31st, 2009 at 2:40 pmYou don’t need credit at all if you pay with money you already have… but who does that these days?
Goto a buy here/pay here style dealer, they will let anyone buy a car at a higher interest rate and there are gps trackers in the valuable cars. If your going after a new car you will either need to co-signer or get a ridiculous interest rate.
July 31st, 2009 at 2:40 pmI agree that a co-signer will probably be needed, but with the economy the way it is, if you have a good down payment, you have a good shot at getting a loan.
July 31st, 2009 at 2:40 pmThese days, none. Most car places will just give you one if you don’t have bad credit. No credit is better than bad credit…
July 31st, 2009 at 2:40 pmUh, a cellphone bill isn’t going to help you secure a car loan. You need credit cards, personal loans, mortgage, etc.
July 31st, 2009 at 2:40 pmjust tell your dad ..he will know even if you should have a car.
July 31st, 2009 at 2:40 pm