# Auto loan guru's, step on in... **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [May 16, 2008, 7:00pm UTC](https://forums.speedlife.net/t/auto-loan-gurus-step-on-in/48577 "2008-05-16T19:00:12Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![BOBBYGRV](https://avatars.discourse-cdn.com/v4/letter/b/ed8c4c/32.png) [@BOBBYGRV](https://forums.speedlife.net/u/BOBBYGRV)\ **Post date:** [May 16, 2008, 7:00pm UTC](https://forums.speedlife.net/t/auto-loan-gurus-step-on-in/48577/1 "2008-05-16T19:00:12Z")
So here’s my situation, im looking at buying a “new” truck, 01 Chevrolet S10 (yeah i know gas prices are outrageous, S10’s are gay, iv heard it all before, save your keyboard the misery.) Anyways, I just turned 21 and i have absolutely no credit. No bad credit either, i never had the need to get a credit card, just payed cash for all my toys and i have no student loans. I never bought a credit card because I knew i would abuse it given the opportunity. I just got one from capital one which just arrived tonight, $500 limit, HORRAY, bring on the booze and hookers!!! :jam: Now my question is, im trying to go through a local bank to get a loan, they said they need a gurantor, the lady tried to tell me its not a co-signer, just another form of one. Can someone prove me wrong? I’m trying to get this loan to build some credit and i have been wanting a truck for a while now. I have many projects around the house that require demands that the “grand clam” just can’t handle. i also need to transport my motorcycle since its currently being rebuilt and i will most likely be picking up a dirtbike pretty soon. So i would need 9k on a loan to buy this truck, whats the best way to get this accomplished besides the obvious, “save up and buy it”, ill be 40 by the time i can buy my 2001 truck. My parents can’t co-sign, they are both going through loan applications right now, ones an auto and the other is refinancing a mortgage. Any help is appreciated, i know alot of you guys have financed some pretty expensive cars. Thanks guys! ---
**Author:** ![Bovice](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bovice/32/5084_2.png) [@Bovice](https://forums.speedlife.net/u/Bovice)\ **Post date:** [May 17, 2008, 1:02am UTC](https://forums.speedlife.net/t/auto-loan-gurus-step-on-in/48577/2 "2008-05-17T01:02:52Z")
your credit score has a little bit to do with you getting approved…it mainly goes by your income to debt ratio…if you have 1500 per month tied up in bills and only make 1800 a month at your job, i would say you’re about as screwed as a one legged man in an ass kicking contest…and thats including your credit score…obv a higher score will mean lower APR’s, but theres more to it than just a solid score most of the time…i know some banks will give you a loan if you’ve had a solid steady paying job for over a year or two…kinda like a first time buyer program…it sucks sometimes if you have little to no credit…best advice would be to get a low limit credit card (like you did) and everytime the bill comes in, pay it off in full…you wont get socked w/ super high interest rates and it pisses the bank off…problem is, with only doing that, its gonna take you yeaaaaaaaaaaaaars to get a better credit score…its sad to say that the more you borrow and then pay back, the higher your score gets…its pretty pathetic if you ask me… my advice: find a sugar mama with butt loads of cash: problem solved! lol