car loan question

does anyone here work for a place that deals with car or personal loans? im having some trouble getting approved for a loan due to having limited credit because i have no credit cards and am 19 if anyone can help send me a pm

You more than likely will need a cosigner to get any loan let alone one with a decent rate.

having a cosigner is pretty much the only way you’re going to be able to take out a loan, they also check to make sure you’re employed and have the means of making your payments.

also, remember that if you finance a car you have to have full insurance coverage on it until your loan is paid in full.

Also, your deductibles usually have to be at $500 and $500 as well.

well i was going to buy a car from my work we have 2 used car dealers and then my work is the shop, i make enough money the thing stopping me was my limited credit, i dont really have anyone to cosign either which sucks, the truck i want is only 5000 so its not like payments are going to be high even if i went with a 2 year loan

Save up and pay cash if its only 5000, by the time you get the money that truck will be less money…

Start applying around for a credit card and try to build up some credit while you save up the cash. I had my first card at 18, a Citi Driver’s Edge Master Card. 5% back on gas and groceries, the main items I buy anyways. Still use it today.

There are so many details you’re not providing. Make, model, miles, year, $ down, term, etc etc.

Either way, good luck. Most banks won’t even lend just $5,000.

prosper.com lol

The poor is strong with this thread. Anyway, in the past you may have been able to get a student credit card with a $5k limit and used it as a de facto car loan, but in this economy you’re prob SOL without a co-signer… save up and pay cash or take a loan from a parent or someone. Start correcting the problem by getting a cash back gas card and at least buying your gas on it every month.
Or I’ll loan you the money for 2 years…I get a lien on your truck and interest is 2% a month.

Exactly

buy here pay here.