USMC3533
New Member
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Joined: 11 Dec 2010
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| Getting a car loan |
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Hello, just wanted to know what my chances are for getting a car loan without a co signer. I am currently 19, 20 in march, I have a full time job, a credit score of 755 and am also in the United States Marine Corps. What do you think my chances of getting a loan would be without having a co signer?
Thanks
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Sat Dec 11, 2010 5:14 pm |
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USMC3533
New Member
Cash: $ 0.70
Posts: 3
Joined: 11 Dec 2010
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Thanks for the reply, I was hoping to get a loan with my credit union which has a good rate right now (1.99%) i'll try to get a pre approval soon
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Sun Dec 12, 2010 9:26 pm |
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iwillguide
Senior Member
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Joined: 09 Jun 2009
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i think You will be able to get an auto loan without a co-signer.first you can try to apply for car loan from bank or credit union.they are not giving car loan then you can try to get car loan from private lenders.
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Tue Feb 08, 2011 2:34 pm |
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MrPolarZero
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Location: Aliso Viejo, California
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Well, you look like you have a pretty good chance of getting the loan. For one, you are already capable of paying the loan easily.
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Wed Feb 09, 2011 5:03 am |
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dr2351
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Location: Slovenia
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I think now is the time (if you have good and well paid job) to buy decent car with loan that you can handle. Recesion is good for something, I guess.
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Tue Feb 15, 2011 10:18 pm |
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MrPolarZero
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Location: Aliso Viejo, California
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One thing that will definitely be to your liking is that, since you are in the military, you do have the chance of getting a sizable loan. In fact, there are some companies that offer good loans specifically for military personnel.
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Thu Feb 17, 2011 12:12 am |
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dthomas
Contributing Member
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It sounds like you'll be able to get a loan without any problems. However, some lenders will deny your application, even if you have a good credit score, because you don't have enough of a credit history. When you don't have much history, you can still have a good credit score but that doesn't necessarily show that you are a "good borrower" in the eyes of the lenders. If you have some good accounts on your credit report, you should be fine.
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Mon Feb 21, 2011 8:27 pm |
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MrPolarZero
Preferred Member
Cash: $ 31.00
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Joined: 31 Jan 2011
Location: Aliso Viejo, California
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Actually, even though you don't have that much of a credit history, you will still be able to convince them to let you get a loan. As have been said earlier, your personal background would be quite good enough.
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Tue Feb 22, 2011 4:42 am |
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shaunsmithzig
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If you do not want to provide any credit check, faxing or collateral then still you have one option that is unsecured loans that can assist you to get unsecured car loans even if you have bad credit.
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Sat Feb 26, 2011 7:38 pm |
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littleroc02us
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You don't need a credit score to buy a nice used car with cash.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Thu Mar 24, 2011 3:51 pm |
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littleroc02us
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quote:
Originally posted by jonathanpaul
You are right but other people would use their credit card to buy used cards. It is convenient rather than bringing cash with you which is too risky.
I am referring my last post to people who had used their credit card to buy a car or got a car loan and is currently having problems dealing with it.
Good for people that buy their car by handing the dealer some cash because after paying it will then be a closed deal but others have different situations.
See I don't agree in 99% of the situations, because unless your worth a million dollars you shouldn't be buying a brand new car IMO. I bought a 2007 Mitsubishi Galant with 49k for 10k in cash, I didn't bring cash I wrote out a check. It was easy, no financing papers, interest and all that crap. A person can buy a used car with cash for under 5k and it would work just fine. I don't bye the financing thing or cc when getting a car. It's a need for someone who doesn't have much money, not a want.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Thu Mar 24, 2011 4:04 pm |
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littleroc02us
Moderator
Cash: $ 384.35
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quote:
Originally posted by jonathanpaul
Your right but you can't stop other people if they are going to use their credit cards when they buy a car.
It is easy to apply for credit cards and people would take advantage in using it. most especially those people who are not getting sufficient income to support their needs.
Using credit cards to supplement your income is an incredibly bad idea for anyone.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Thu Mar 24, 2011 6:23 pm |
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