if its your first loan get ready to be fucked. if you have a cosigner you should be ok, but it does not look so good on your credit report later in life.

i bit the bullet(intrest rate wise) for several years until my credit was built up.

 

You're right on the moeny. There are credit cards that you can sign for at most banks so that you can borrow against your own money, or use your money as collateral if you will. Then you can take that card use it as a regular credit card and pay it off. Good way to rebuild or establish credit.


Yeah I know this ins't the fastest way to build credit but its an easeier way than having a cosigner which may be hard to find because of legal repercussion that follow if you don't pay it on time.

Hear me out this is the best way to handle your situation. By a cheap car like something under $5k, get the money to buy the car from working or whatever you do. Then go to your bank, pretty sure that most banks have credit cards that let you charge against what you have in your account, use that card responibly and pay it off the second you get the statement (assuming you always keep money in your account). Make sure you have money in the account. Get someone to cosign a major credit card and make sure you pay it and there you go great way to raise credit. JUST MAKE SURE YOU PAY YOUR STUFF ON TIME AND MAKE SURE THAT YOU USE IT RESPONIBLY. After that is all done you can quilify for more and be able to get something better than you originally thought you could get.

Or you can get FHA home loan (first time home buyer loan). All you need is three tradelines (something you pay a debt to monthly ex: cell or home phone bill, insurance payment, cable or satelite service...) under your name. Remember that FHA loans are NOT driven by FICO (credit) scores. Once you have the loan and get the house and make sure that you make payments to all your tradelines and to the house then banks will look at you and you will quailify for A LOT more than just some crappy 14k loan with interest up the ass. Trust me I know this stuff because I work for a mortgage company as a loan processor. Banks look at credit as number one piece of information to lend to an individual.


IF YOU WANT PM ME, WE CAN SEE WHAT WE CAN DO FOR YOU AND WE CAN SEE IF THERE IS A WAY TO HELP YOU OUT. (FYI I work for HCI Mortgage)

 

pm'd