BTW, I got around credit issues by having a phone bill and apartment rent while I was in college, which helped when I got out. Wasn't one to use a credit card then, wrote more checks, but did have a co-signer available for my first car. (Don't remember if it was needed.)

Depending on your job, if you have an employment related credit union available, they will probably give ok rates if you open an account since they know your employer.

When I bought my first car, this is what I did, at the time I had zero credit and the credit union financed me.

thanks for all your help guys, looks like I got my z! its used 2010 with 2000 miles on it, I got screwed on the financing. The lender is actually making me pay them to accept my application. But the seller was great and worked with me on the price to make up for the difference. I won't take delivery until next week but when I do il be posting up some pictures.

Just picked her up, thanks again for all the good advice guys!

heres a pic.

http://farm5.static.flickr.com/4102/...23b56b53_b.jpg

Nice ride! :tiphat:

Very nice. Now get rid of those stickers and post of a mod list.

Thanks, and I intend to take all the Yellow stickers off the car. I'll post more in a different section when I do.

I just reg to make this post because I saw some people giving bad credit advise.

I am not saying this is the only way to build credit but this worked for me being 30 years old now I will pass it on.

1. what ever credit cards you get make sure they have auto deduct from your banking account.
2. Get a credit card. does not matter what the % is. They all suck. Put 100$ on the card. have the bank auto payment 25$
6. 6 months later get another card do the same thing and don't go over $100
3. Apply for a 1000$ loan from your bank and pay it off over 12 months anything less then 6 shows jack its after 6 months that do you good.

Keep those 2 cards and a loan going after 12 months pull another and you will get about 30 points a year doing just that. I have 3 credit cards and a loan going at all times and I am rolling a 742. I work offshore and I also want not only a good score but then they look at my history they can see different accounts and all green marks so i have good score and i have the history to back it up. What ever you choose try to keep the cards at 35% or lower and remember you will keep these for your whole life never cancel as the length of the card is super important you lose 20+ points for canceling a card if you have had it for a while.

Note that if you put 50 bux on the card pay it off in full each month does next to jack. Hold a small balance see above and make on time payments. and never use the card for anything remember your emergency fund is the money you have saved in your chk account not credit cards.

I also want to note that CC have high rates regardless now but if you keep it at 100$ its not a problem the same with the loan you will pay like $100 bux in int over 12 months not bad if your trying to build A+ credit.

:happydance::happydance:

You seem to know how the system works. But having 3 credit cards wit 100 balance on them and a 1000 personal loan will not help you get a car loan. That's is too little revolving credit for a bank to consider loaning you 30-40K. Yes you will have a good score, but banks aren't going by score anymore. They look at debt to income, revoliving credit, history, and income. Just my .02.

I'll give you some advise being young (23 yo) and having a pretty good credit score (mid score - 741).

Here are the things that you can do now:
1. Get 1 or 2 credit cards (you'll take a small hit on your score because of the number of inquiries on your account due to your new loan and the CCs, but it will give you some amount of available credit). Just try not to get any new accounts for at least a year after you opened your last account.
2. Keep your total available credit utilization below 20% (if you only have 1 card, keep it below 20%, if you have 2 or more try to keep the % on each card pretty equal). This is a big part of your score.
3. I know that people say that its better to not pay your bill in full every month, but I think that its just BS that the CC companies want you to do so they can make more money. You can have a really good score paying in full every month
4. Make sure you pay your bills on time every month...its not tough to do, but it can really hurt your score if you don't.
5. Don't open several accounts at once. There are 2 reasons this is bad...1) You will take a hit on number of recent inquiries on your credit and 2) Your average age of your credit will decrease.

Here are the things that you will have to wait on:
1. Part of your score relates to the amount of accounts you have opened and closed in your lifetime. Right now you are young so you just haven't had a lot of chances to get credit and pay it off. One thing you should keep in mind is that a good mix of credit is always a good thing (revolving, charge cards, installment, and mortgage).
2. You need to keep your revolving accounts for a long time (don't close them even if you don't use them often). This will increase the age of your credit history and will help your score.

Very nice credit building tips guys.
I would eventually figure out that using any amount of credit would build it up over time, but having to use at least 20% is something I can't do out of leisure.
I don't like throwing away money just to build credit, but building credit is a game, and if I want to finance, I have to play their game or pay big interest rates.
It's a lose all situation if I don't have good credit, and since I closed one account, it's not helping my score.
I had two credit cards and had taken a 1k loan 6 years ago, but not much since then and now I only have one credit card.

Like Falcor, I don't have any problems paying, even with no credit or bad credit, but it will take a human being, not a credit number crunched by a soulless computer, to determine if someone is capable of paying.
No credit or bad credit does not mean I can't make the payments.

Right now, financing a car is about the most amount of money I'm going to be borrowing. It's not a home loan, and for anyone who has a decent job, they can pull off a car loan easily. If the loan falters, I'm fine with losing the loan and the item being financed.

^ No, you want to keep it below 20%

I agree with you though, it really is all just a big money making game.

If you can pay it off in a year why not just save up for a year and buy it for cash?

That is a cool looking ride. I hope it was treated well by the previous owner with just 2K miles.Looks like at least $1500 in the lip and hood.