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Posted in Auto Loans
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Chris992

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22 Years Old and needing advice on buying a car.
So as stated I'm 22 and got my first credit card about 4 months ago and have made my payments on time. I'm needing a vehicle and I was wondering, would it be smarter to wait with the single credit card for a month or two more or get another credit card and have that other source of credit? I'm very new to credit and everything. Thank you in advance for your time and responses!

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I would get one more card and then wait for a while before you apply for a car loan. Keep in mind that you still may need a cosigner on the loan if you have no previous loan history. You may also need a sizable down payment, so start saving for that. If you need to you may want to look for dealerships that specialize in "bad credit or no credit financing" or find a dealership that advertises 100% approval. Make sure that you spend plenty of time reading about credit to learn as much as you can, the knowledge will be valuable for the rest of your life, so it will be time well spent.

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Save up some cash and buy a Nice Used Car with 100% Cash.    DO NOT GET A CAR LOAN.

Do you Have  a monthly Budget?  If not you better start one now and keep doing it forever.

Until you have control of where you money goes you should not be getting any loans or any more credit Card.

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