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Posted in Auto Loans
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TheCheerleader212

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will i be approved for a car loan?
I have a 732 credit score but the length of my credit history is only 4 months (Im 19)... I was going to wait another few months before I even applied for a car loan but I need a new car soon. I dont want to apply to too many places because Im pretty sure that hurts my score. My income is about 1500-1800 per month. Is there any way that I can see if I would be approved before I apply?

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We can't say if you will or will not be approved because each financing department has their own criteria.  I will suggest, however, not buying a brand new car but buying one that is one to two years old.  You will save thousands and still have a nice vehicle that should serve you for 10 years or longer.  I did that 9 years ago when I bought a one year old Buick Rendezvous for $17K.  Only had 20K miles on it (had been a rental vehicle).  Brand new, they went for about $32K.  I'm still driving it and haven't had major problems beyond routine maintanence. 

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