How to get an auto loan?
I am 21 years old. I am a supervisor at a plant making $30,000 a year. I have a 639 credit score, but little credit history, and I have $3,000 to put down on a car...but no one will finance me. I've tried a credit union, I've tried the dealership. I even tried JD Byrider, but they didn't have anything I wanted. I do not understand what I have to do to get someone to finance me. My parents both have bad credit so having them cosign wouldn't do any good. Are any of those "No Credit Loan" website legit? I am getting desperate here...and now I've been to so many dealerships that having that many inquiries is starting to effect me. What should I do? The car is 12,900. The credit union I applied with is my local bank.
Asked By: Harper540 - 9/1/2011
Best Answer - Chosen by Asker
There are auto loans out there even if you have bad credit. Lenders will look at your income; debt to income ratio; job history and credit profile. If you have a car to trade in and any other cash, that could be used as a down payment that would be helpful... More
Answered By: sarahsmile90 - 9/4/2011
Additional Answers (4)
You are stuck. With this currently economy, it is in a bad condition. More likely, they dont want to take the risk. But if you are enough lucky to get one. Your interest rate will be very high.
Answered By: BmP - 9/1/2011
How much money is the car you are looking to finance? Have you talked to your personal bank?
Answered By: smile - 9/1/2011
You need to keep building your credit history since that is probably what is holding you back from being able to do this without a cosigner... More
Answered By: Use Your Noodle - 9/1/2011
Okay, you might not like my answer, but here goes... More
Answered By: Pablo - 9/1/2011
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Post your resume and get seen by Va employers. Post Jobs. Find Jobs.
$47/hr Real Work at home Job. Computer Required. Apply Online!
Over 471 Local Jobs Available. Hiring Now – Apply Today!
Other Career Questions
What jobs are there in the business field that are night jobs? Places and job titles please. Im have a BA in Business Admin and looking for a night job, already have a morning/day job.
Enumerate these jobs Say, patent application writting. patent application writing. In a company, what jobs are needed to keep confidential?
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.