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
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