Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Auto Loans
Profile Image

Question By

0 Contributions
0 People Helped
any car financing advice for me?
Hello, if any one can give a little advice that would be great! I'm 23 years old with a credit score of 671 and 647 with TransUnion and Equifax respectively. I have student loan debt, but I have been making my payments on time every month. I don't have a credit card but I will be getting one by the end of the month. I am in desperate need of a car as the last two cars I've owned have all broken down for good since I bought them from untrustworthy craigslist. Both of these cars were paid with cash in full so I have no deby tied to them.

My question is, I'm thinking of financing a car since I need a reliable car. But I'm wondering if my credit will be good enough to get me approved? I am not looking to get a sports car or anything luxurious just a good reliable economy car, maybe a nice gas saver. I obviously can't finance anything to expensive either since I will have to pay for full coverage insurance. I'm looking into a Dodge Dart right now, if that serves as an example.

Do you think my credit would be good enough to get me approved for financing? If I had someone to co sign for me I would but, I have no family to do so. Any advice or help would be highly appreciated.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
11699 Contributions
4497 People Helped

First off, don't buy a brand new car but select a vehicle that is one to 5 years old with as low mileage as possible and purchased from a dealer or bank.  I bought a one year old Buick for cash 10 years ago and it is still running very well. You might end up paying very- high interest in financing it.  I do advise checking with a credit union since they tend to be more 'user friendly'  than banks are.  See if they will pre-approve you for a loan and go shopping with that pre-approval in your pocket.  Having a guaranteed amount available gives you a bit of leverage and, if you find a car that would suit you but it's maybe a couple thousand more than you have available try to talk a deal but be ready to walk away.  I  had a ceiling on what I would spend for a car sand the Buick wdas nearly $3000 more than I was going to spend.  They saw I liked it but I held to my limit (they even tried to get it financed, which was not going to happen)  and I ended up with the vehicle at my price.   FYI-I'm a female seniokr citizen.  You can do this, too.  Just going to take a bit of patience.  Places to look would be bank repo lists or rental lots for some of the best prices.  Wish you the best. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.