I wanna buy a car, but I don't know where to start (about the financing)?

April 28th, 2008 · 2 Comments

So I'm a college student.. My credit is not bad, but I hardly have any… I have a credit card with Capital One (payments all on time and stuff) that I've had for about ayear, a PacSun credit card I've never used lol, and my first job that I got 2 months ago. That's all I have to my name..

So I want to buy a car, but will I be able to with my minimal credit history? (If not, what can I do to build up my credit to buy a car?)

If so, will my interest rate be really high? For the loan, right? I'm not exactly sure how it all works to buy a car.. I wouldn't want anything super fancy, just not anything for $2,000 you know what I mean?

Can you help me with any of this? I'm totally confused and don't know where to start?

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    Tags: Where to Buy



    2 responses so far ↓

    • 1 Paul // Apr 28, 2008

      go to banks and ask the same question i want to borrow $10,000 for five years how much am i going to pay every month than go to car dealer and ask same question whoever has the lowest payment every month has the best deal

    • 2 CarMan // Apr 28, 2008

      Most people in your situation get a co-signer, usually a family member, to get a loan. The loan is in your name and the only purpose of the co-signer is to make payments if you default. Here's an article that has more details:

      http://www.firstcarguide.com/finance/auto-loan-basics.html

      .

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