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Posted in Auto Loans
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youngchamp

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694 trans union score need auto loan for 8000 they said i need a co signer i dont have one
all my payments are on time everything is good just young credit

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Top Contributor
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Try saving up for a larger down payment

If you cannot get a co-signer, the only thing left is to get a larger down payment or go to one of those easier credit dealerships like DriveTime or AutoNation. Or some mom/pop used car lots. They have easier credit terms, but you will pay higher interest rates, guaranteed.

Being young with little credit history is a pain and it really sucks because that will end up forcing you to pay more (in interest %'s) for anything that you have to borrow money for. Those are really the only choices at this time until you can build up more credit history. If you do manage to secure a car loan and you pay it off with NO late payments, that will create very good credit history making your next car purchase a bit easier. (Of course, this means that you never miss payments on any bills you have, period. There are many more credit records and scores out there that you never know about because you can never access them)

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