I've been trying to get an car loan???
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I found the vehicle I want to purchase. I am 20 years old. I can comfortably afford the payments. I only have 2 credit cards, with a total of less than $600 owed. (lol) I have never financed a vehicle prior to this. The dealer tried getting me a loan with a bank, but they did not approve me because of my lenght of employment. I was at my prior job for a year and a half. How hard is it to get financing through a dealer with bad credit? (my score is in the 500's). I know the interest will be sky high, but I am planning on paying more per month than owed, and refinancing after a while.
I've been trying to get an car loan???Obviously if you only have a credit score of 500 (which in the industry is considered VERY poor) you have something else going on besides just 2 credit cards. You will be unlikly to get a loan with out a cosigner. You are right your interest rate will be sky high. You need to make sure your car payment is less than 25% of your take home as well...or that is an automatic denile trigger. You say you were at your previous job for a year and a half but don't mention how long you have been at this one. If you are switching jobs more than once every 3 year you are job hopping which looks terrible.
Also, a good site is...
http://www.surveyland.org/jump.php?link=...
All the best to you.
I've been trying to get an car loan???why is your credit so low with only two cards? You shouldn't have so much trouble getting a loan.
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