>I don't like the idea of leasing because I won't see the money again, at least if I finance OR BUY A FUCKING CIVIC, at least in a perfect world I end up with a car that I own, and can turn into more money.
Again, financing is only viable if you can actually afford it, which so far as I know, you can't (because most college kids can't). What do you gross a month? What's your credit score? How stable is your employment? Do you have a plan for making the payments after you graduate if you don't find a job right away?
Again, the general rule of good financial practice is to only finance if you are going to spend 10K or more. For anything under 10K, you should either need to be able to afford it cash, or not buy it at all
See above. It's generally considered bad financial practice to take a loan for any amount under 8K. So to start, bump your budget up to 10K. As far your score, what is it really? There is a big difference between 740 and 688. What caused the drop? Also, do you have something like Credit Karma? If so , what does it currently report your score as?
As far as employment, don't lie. If your score is 688, the bank is going to call your place of employment to verify your position and your hours. Lying will only result in much pain for you later.
Credit Unions are the ideal place to start looking for someone in your position. They offer far better terms than conventional banks and better terms for first time buyers. Also check online sources such a BoA, Roadloans, and Capital One-(Cap 1 also has decent terms for people with weaker credit)
Ryder Jackson
Its currently 688, I don't have any other credit checkers. My bank is wells fago. I have protect my ID but they don't show my credit, only protect against fraud. And I wanted to keep it under 10k cause i wouldn't think I need so much, I just wanted to buy a clean as shit classic car. Could I just pay back the money with the loan that I didn't use?
My guess for the drop is that I used my credit card after paying it all off. Yet, my bank raised my credit limit to 2k from 1.
Thanks for the advice, I didn't want to go somewhere they would try to fuck me with a high APR
Elijah Flores
1.)Get credit karma. I use it myself, it's totally free, and you get a new score every 7 days. I also get scores from my credit union every month on my statement, but CK is a great additional resource, and can actually help you pinpoint things that are causing changes in your score
2.)A 10K loan vs an 8K loan is really only a difference of about 30 to 40 dollars a month depending on APR, but believe it or not, will open up a drastically nicer segment of cars for you to shop in man. If you really don't want to finance more than 8K, save up enough to put 2K down, and still shop for cars that are around 10K.
3.)With your score, it should be possible to get around 5% APR through a credit union if you have access to one
Aiden Morales
really? Fuck thats not much of a difference. I just figured I would better have a chance to get the borrow if I ask for less.
I do not, should I look around and open an account? Do they usually ask for some money to put in or something like a bank? Or is it a sign up and go?
Gavin Collins
just signed up for CK and holy fuck this is a useful resource! I was always afraid my data could get hacked from here or someshit, or that it wasn't that legit
Elijah Evans
Credit Karma doesn't give you your real FICO score, it is only an approximation. If you want to know your real score and play with it like you can on Credit Karma you need to pay for the real score from myFICO.
I have a Discover card that gives me my score every month for free.
Jackson Taylor
Building credit is never bad, since the guy is in college it's not like he's going to have a lot of history
Grayson Perez
You realize if you get a loan on a car you are going to have to pay for full coverage insurance right?
David Anderson
It's a great resource, make good use of it. And usually a credit union is going to want some sort of minimum amount like 50-100 dollars that you deposit into a checking account ot get started
No, it gives your transunion and equifax, and it is damn close to your FICO unless you have weird shit on your credit. My Credit Union provides my FICO every month on my statement, and it's within a few points of my scores on Credit Karma every time. It also pays to keep in mind different sources pull from different reporting agencies. My credit Union pulls Equifax exclusively, but Old navy only pulled Transunion for my credit card through them
Building credit IS good, but you want to go about it in a smart way
Jaxon Wright
WF gives me my FICO score, but this is also pretty helpful. No I did not, but my premiums have gone done so thats not too bad
