new car /with no credit score?
i am a 26 year old guy with no credit score and i have 7 collections on my credit and i am trying to but a new car wi $2,500 dollars down can i get a new ccar without a co-signer i am paying off stuff on my credit
Public Comments
- You might get a loan with really high interest but you will get one
- Most likely won't happen without a co-signer
- It will be difficult w/o a co signer. Your going to pay alot in interest. I know having a new car Sounds cool, but in your case you would be better off getting a car that's one to two years old. Getting financing will be easier and used cars are a much better deal.
- Even with a co-signer you will probably have an extremely high interest rate and honestly, with 7 collections, you are a high risk for anyone who would sign with you. You would be better of taking care of the collections and getting them off your credit and starting afresh. This could take several years but they will never go away if you do not take care of them and you will always be in this rough spot.
- SORRY NO AND IF YOU DO FIND A CO-SIGNER IT WOULD HAVE TO BE SOMEONE THAT REALLY TRUSTS YOU. WITHOUT A CO-SIGNER YOUR RATES WILL BE PAST 16% AND YOU WILL HAVE A VERY LONG NOTE.
- With 7 collection lines, and no score given, that's pretty bad. Don't expect to get any loan, even at 20% with only 2500 down. Your going to have to get a cheaper used car. What you should do: is take the 2500 cash and buy a car for 2500 cash, get a secured credit card and start building your credit again. You can fix it good enough to get a new car in less than one year. good luck
- I would take that $2500 and buy myself a good used car and then work on fixing my credit before going deeper into debt with a loan. You are in no financial position to be looking at a new car purchase.
