Getting auto loan in USA

i just got denied again from my bank for a $5k auto loan, i'm still waiting on the credit union to reply but wtf. i'm 24 years old and employed for 3.5 years, i make $18/hr and they want proof of paying mortgage or something to get a loan. i had this bank since i was 16!
to get a loan, i need to have proved that you can get a loan and pay it off. yeah i know about the credit card but my car literally just broke, i will have $2,500 after selling as scrap it would take months to do that with a credit card.

literally how do i get a loan? i net over $2,500 a month and rent is only $600, i could pay off a $5k loan within 6 months!
help!

bad goy, you should have been borrowing more shekels

i didn't need to! my dad let me get an old car, it was working perfectly fine i needed $20 for gas per week and food was cheap too. i also use paypal credit why the fuck doesnt that count?

i'm trying to borrow some shekels so i can get a shitmobile to make more taxable income but they won't let me borrow money until i have borrowed money. and i can't get a loan, wtf?

fucking christ kek

i never got any credit as a young man and I fucked up because the only credit I got was overdraft protection which i ruined, but now that scheme is illegal.

anyway fast forward 7 years and get credit easily now, 720 score or so. Could easily get any car i wanted and personal loans even.


So, I guess... just wait it out

Real talk look into seeing if your parents can cosign the loan. Even if you find someone to lend to you, they'll use your lack of credit history as an excuse to rape you on interest.

Yeah. You will need a cosigner. And the banks wont loan that low because they are fucking faggots.

Try one main financial. They will help you.

Filled out online, immediately got:
>We can’t find an offer for you right now.
>Thank you for your inquiry. >Unfortunately, you do not qualify for a loan at this time. You will be receiving a letter shortly with more information.
>We also invite you to visit our website at OneMainFinanancial.com/Learn, which has valuable resources and tools that can help you learn how to achieve your financial goals.

Help plz! I need a car literally $5k loan is all i need. Do i seriously need a cosigner?? I make that much in 2 months and only $600 monthly rent

get a credit card while you're doing this, you need to start building a credit history
Every 30 days your credit card statement posts, and then you have 24 days to pay it without interest. If you pay it by then you wont pay a cent in interest. I recommend discover secured, you'll have to put down a deposit equal to your credit limit but you get 2% cash back for gas and restaurants, 1% everything else

Also buy a beater car you dumb goy, get a 90's corolla or geo prizm (a corolla sold under different brand, often cheaper). I got mine for 1400 dollars when I was 16, still runs 3 years later

How long will it take to get a loan after that?? I use paypal credit and paid my student loans. Idk what the problem is besides being young and worked 3.5 years total

I just lost $1k on a shit car, i only have $2.5k and any car that price is shit

You need to build credit either way, it'll take awhile to have a real score. You have a thin credit history at the moment. Assuming you don't have any derogatory marks like collections i think you'd have a decent score in 6 months. In the meantime you need to pay cash for a used car.

What do you need your car for? Work. You can only afford a shit car, and you probably bought some shit brand. Used corollas and honda civics are indestructible, you can easily get one for less than 2k

>indestructible
>$2k shitmobile
$600 insurance per 6 months, $600+ to license and register. Cars cost money for upkeep, i can uber to work and back for $10-15, half the time i get rides home

Also I'm 19 and i've been using a credit card since I was 18, my credit score is 720 and I could get an auto loan any time I wanted. I have a 12000 dollar credit limit and my business only nets 17k a year.
It is indestructible if you buy the right one. I've paid 600 dollars in repair over the past 3 years on that 1400 dollar car. The 1400 is after fees, taxes, etc

You don't pay for upkeep on a beater car, when the shitbox dies you get another. You only need a car for 6-12 months while you build your credit history

I'm just trying to get a $5k loan and pay it off in a year, and it's time critical i can't just spend months using a credit card, ill have $5k by then. I just don't understand 0 credi after paying student loans and paypal credit

You might not have zero credit, it might be shit credit, or too thin. go to creditkarma.com, it's free because they make their money from advertising. The score they provide is similar but not the same as the one banks use, it should give you an idea of where you are.

first of all, stop applying for loans. you’ll eventually get approved for a 15% auto loan and want to kill yourself in two years

take $1000, go to a used car dealer, find a car listed for $1500 and buy it

reading further, you’re arguing with the only sensible people here. you claim you can pay it off, but you won’t. just build credit with credit cards and buy shitty cars, preferably trucks, with 100k miles

I'm just trying to get a $5k loan and pay it off in a year, and it's time critical i can't just spend months using a credit card, ill have $5k by then. I just don't understand 0 credi after paying student loans and paypal credit

nice double post cuck
Post your credit score and i'll tell you what to do next

>if i keep spamming the same excuse it’ll change financially educated peoples minds
fuck off back to eddit until you grow up and learn responsibility

I wont? I paid off more in student loans. I have $300 in bitcoins, $2.5k cash, i would pay $5k after 6-12 months easy i just dropped $1.5k on some shit car that broke

go to credit unions - they'll give you auto loan on 10k with under 100k miles used cars

It was my phone double-posting. But if i can't get a loan at all even if i can pay after months that's fucked. I never had less than $1k in my account ii always pay bills

Post your credit score brainlet, it's literally a score that summarizes your entire credit profile into a number based on risk. I can tell you what the banks are taking issue with once you tell me

>being slaves to a credit history
Stay classy, Western pigs

Top kek it's literally easier to get approved for a mortgage than a car loan.

post your credit score and why do you care so much about getting a car loan if you already have capital?

because a house is worth something
>financing a depreciating asset

he has to have serious credit issues. when i was 19 i had a 570 credit score, 15k debt, and still got an offer for 14k car loan kek

>5k vs 500k
>what is debt to income ratio

With interest rates this low it allows any retard to go buy a Mcmansion and they spend 40% of their salary each month on the mortgage. What do you think is going to happen at the slightest bump on the road when a few people start losing their jobs? 2008 all over again
Nobody cares about an "appreciating asset" during a crash because of irresponsible lenders

I have $2.5k but it's not enough for anything but a literal shit tier car

I can get that easily on my phone? I'm at work but i can use my phone :)

fuck eh, why would a bank jew somebody like that

You're not wrong, but where I live a house is 150k
credit karma app

Then I am very jealous. I'm in NYC where you can't find a house for less than 650k unless it's in a ghetto. The ones in the ghetto go for 450

I live in salt lake city, of course new york is expensive

>I have $2.5k but it's not enough for anything but a literal shit tier car
what else do you want to use it for and what do you expect from a 5k car?.......

Sucks to be you. I've had a 800 credit score since I was 22.

Only wyppl who don’t need a loan can get a loan.

You’re either poor or a darky

then just save for months and pay the car in full when you buy it! 0% interest

I am poor but white, i graduated from the top state uni, like 2 years ago. You would think that suggest i could be able to pay it back, like my student loans


Also i did credit score, it's not 0 anymore. Is this shitty??? How can i fix it fast to get a car

Yeah no car for months, that's my only option??

I am 24 years old i have only been employed 3 years

Is this score bad??? Did i fuck up somewhere??
Some fucking shitbag debt collector claims i owe $200 for an apartment when i dont. I told them 10x and disputed it, they still call me. I could pay i but it's bullshit i don't owe them and they lied to the debt collector, it wouldn't fly in court.

That's not great. A debt collection can be devastating for your credit. get a discover secured card, buy a car for 1500-2000, try again in 6-12 months

Sounds like i would lose more money than paying a uber every day. Sounds like shit. If i pay my $500 paypal credit off will it fix the score??? I can pay it all now i have money dor that (it is $1k max only) but if i cant get another loan that doesn't help me at all, it's essentially a $1k loan anyway i just never pay interest on it!

that is horrible lol. no wonder you can’t do anything.

get over yourself and try again when the first number is a 7 instead of a 5. you have a really shitty attitude. if you really want a car, go to a credit union and they’ll loan you 10% of your income regardless of your score. but really you should grow up first

paypal credit does not report to credit scores, so no.

t. someone that scammed them for over $10,000 with fake payments

How the fuck is it horrible??? I have a small paypal credit "loan" out of $500. I can pay it all back now but if i cant get a loan otherwise that just sets me back. Like wtf?? I never paid interest even once!

Either you lease or you buy the car cash, financing is for losers.

So how is my score bad? I paid off student loans in 3 years

Is this a scam or not? Looks like an ad to me! It says if i just apply for a card and get it, it will fix everything

any sort of collection on your account can drag it down drastically. drastically being -50 points sometimes. the other can come from a thin credit file. if you look at “accounts” on credit karma, it shows you everything reporting to the credit bureaus.

they make money from advertising brainlet

that isn’t a scam, it’s trying to get you to apply for a credit card. it looks like you have $8000 worth of credit card availability already?

Is this the problem???
I dont owe this debt collector shit, the apartment complex was overpaid and lied to them, and wtf is this 3 accounts? It was $200 disputed

OP - same thing happened to me when I was younger. Was able to lease a brand new mazda from the dealership. Ended up regretting a bit as the payments did a number on me, but it's pathetically the way it is. Easier to get a loan from a dealer than your bank.

Oops forgot

How do i contest this shit and get it off my record?? Or do i have to pay even if it wouldnt fly in court. They violated the lease, overcharged me, then claimed i owed extra money and just sent to a collections agent without asking me at all!

It's asking me to pay money to see this stuff

OP is very easy go get auto loan from your credit card if you have good payment history good rate

>3 collection accounts
lmao!!!! what the fuck did you do retard? your credit is fucked for seven years unless you pay it off

go to annualcreditreport.com and get their contact info. call them and ask to pay in full to delete the account record and just pay it

I movdd into a place with 3 roomates. I was in another state (thanksgiving) it was burglarized and they tried to charge me for the doors being busted down! They caught the burglars in the parking lot...
I paid for 2.5 months and lived there 3 weeks, they violated the lease and state law changing the locks on my door so i could not get inside. It's completely bullshit and i shoul be getting paid, if it was taken to court! I sued an apartment lady and won for only changing my lock once!!!

regardless of what "should" be the case, the fastest way to get it off your report is to convince the collectors to expunge it after you pay it off. You could also sue the people who sent you to collections, but that would take longer. Credit reports can take a couple months to get updated so either way once you get that off, you can apply for another loan. Until then, suck it up and buy a cheap used car, if you get a decent one you won't even have to spend anything on repairs until you get rid of it in 6-12 months. Also consider a secured card, for discover the minimum deposit is 200 dollars and they'll give it back to you after 8 months if you pay it off on time every month. you need to have a credit card if you want to get loans ever, student loans are guaranteed by the federal government and don't require a good credit score, so those don't count.

Immigrant here
>never had credit in Australia
>that was never an obstacle for anything I wanted to do
>never had credit in America
>it actually became a huge issue because credit is needed to rent, to get utilities, to get some jobs (bank), to get internet, get car insurance etc.
>naive me thought having $35,000 wired to my American account would solve everything
>literally not one institution or business gave a shit, all they look at is credit score

This country is fucking weird man.

I needed co-signer for everything. I got a credit card after 6 months with an $800 limit. Shit was a joke.

Fast forward 3 years, now I have 3 credit cards totalling $23,000 limit, a car lease and credit score is 750 so the Jews love me

So calling them didn't work, they just listen to me and say "wow i will make sure we update that" and nothing happens, they do the same thing. For under $400 a lawyer wouldnt even look at it i guess.

How can they just get away with ruining people's lives by claiming non-existent debt?? How can someone do this to their enemies?

So i'm basically fucked for months, other than by getting my parents to cosign a loan? Any of these alternatives take too much time, i could pay all the debts (i dont actually owe them, at least the $300 one), but then it would just make me further from my goal if i cant get a $5k loan. It's just time sensitive really, i need to drive

>how the fuck is this horrible?
Idk op, it just is. I'm 23 and my credit score is 820, I'm better than 96% of the general public

The apartment company lied to collections, how do i dispute this?? It's not even $400 but fuck paying when i don't owe that, they lied to the debt collector. Anyone ever contested a bullshit debt claim from collections???

credit system is pretty fucking retarded. They probably don't lend anything to anyone living in your area that makes what you make.
Also check your credit score and look for 'monthly payment' fields. Those are pretty volatile and I think you should only apply for stuff when they are low.
I'm also assuming you have had a credit card for 6 years if not you fucked yourself. Good luck user.

Nope, sorry op, idk. I've never owed anyone anything past due that's why my credit is better than 96% of Americans.

But until you get your credit score up you are pretty much fucked. 500s is a horrendous score, literally nigs have credit around there.

Start buying everything you can (groceries, car parts, etc. Everything can think of) using your credit card and as soon as you get the bill at the end of each month PAY IT OFF IN FULL, NOT THE MINIMUM BALANCE. With time that will bring your score up considerably

>6 years
6 years ago i couldnt afford mcdonalds. I got a job when i was 21, i have been employed 3 years. Never had a credit card because i never needed to buy stuff like that. Basically food and i often trade for food stamps, i pay 95% cash

Yes, my apartment company tacked on charges for new carpet when I vacated and was out of the country for 5 months so I never got the invoice. Their fraudulent activity aside, I immediately paid the debt to avoid getting slapped in my credit score, THEN I disputed it with the apartment company and they agreed to reverse the charges, notified the debt collection agency to refund my money and everything was ok.

As a side note, they were systematically charging everyone who vacated for new carpet. Coincidentally about the same time they were doing other aesthetic upgrades to apartments. Our apartment was only 2 years old, we were in it for 7 months and the carpet was mint condition when we left. Even so, carpet has a lifespan of 3 years and landlords can't charge for replacement if it's near the end of life anyway. At best they can charge a % of the cost. That's essentially the civil talk I had with the property management.

That's why your credit is shit, op, you never had a credit card and paid In cash. Do what I said in the post above, apply for the cheapest shittiest credit card u can get and start paying for everything using that card. It's one of the only ways to bring your score up.

Do this now because if you can't get a loan on a car you will never be able to buy a house, this stuff stays in your credit records for 7 years.

Smart people actually talk to the bank that their pay goes into about credit cards because they already have a relationship.

I never owed shit either, except student laons i payed off. These "charges" are fraudulent, bullying from an apaetment complex. Also it's not even much, i could pay it off (despite not truly owing) because it's not much at all, but if i still can't get a measly $5k loan that only sets me back like $500+ with nothing really gained

Most young adults have problems getting whatever financing they want until 26.
Since you delayed 6 years, for you that'd be 32. You have to play (pic related's) game.

>also it's not even that much
You have no idea how bad the jew rat credit scam is.

You could have 3 dollars in fines on overdue library books and it'll bring your score down, I'm not even kidding.

Get this shit fixed asap, the big 3 credit bureaus don't care about your moral principles

It's not that hard to build credit. I started with a CapitalOne card years ago when I had zero employment history and income. They'll give out the basic one for absolute shit scores. Started with a $300 limit but I used it for fucking everything over the years and I still have that original credit card but now it has a credit line of $7,800.

I was able to parlay that credit card into opening new credit card accounts within a year.

Now I have over a dozen credit cards including a credit card with a $16,000 credit line through Chase. My credit score jumps around a bit but is typically always above 700.

If you haven't been using a credit card for all your purchases you're fucking doing it wrong. I get up to 10% cash back on some of these cards dependent upon which merchant I am buying from.

Times up Jewz, we're coming for you, you stupid banker fuck faces. We're gonna send you back to Germany.

>We're gonna send you back to Germany.

we don't want them.

So even if i dont owe shit i should pay? Why not dispute it if the entire thing us bullshit??? Also how can i do this to someone else, seems like a great way to fuck with an enemy

Life sucks