>apply for car loan >27% interest >mfw

How did you fuck up your credit that badly?

>Don't buy used
>Build credit if you want to buy used
>Refinance after a few months if you have no choice

Shit ain't hard man. The fuck you buying anyhow?

>>15784630
By not actually having a credit history

>>15784630
This, most people I know who have financed cars were 18-19 year olds with no credit at all and had 6-9% interest

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>>15784622
I've never taken on a car loan b4. Never needed to desu. I guess if I trade in my Ram for something else and need a loan, but I got enough cash lying around to buy whatever outright.

>>15784649

>720 credit
>Bought first car from the stealership used
>19% interest with Chase was the lowest they could give me
>I was 23 at the time

Calling bullshit.

>>15784649
I'm 19 and 27% is the legal maximum here in GA.
>>15784642
I'm trading my prelude for an 08' RX-8. It's 10 grand

>>15784661
23 is not the same is 18, anon

>>15784661
This worries me.

>>15784661
Must've had zero down or some shit.

>>15784663
No bullshit friend, I got a loan for a $20000 Canadian for a truck when I was 19, 9% interest.
Work with a guy in similar situation but, 20 year old buys $35000 truck with 7% interest

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>mfw i have never owned a credit car
>mfw im 24
>mfw i know my credit score will be shit

what can i do to fix dis lads.

LOL wtf

I just got a 72 month loan on a fucking 10 year old lexus for 4.25%. (Would had been low 3's if it was for 60 months, but I need a low payment for 8 months until my next bonus and I can pay the note off cash).

>>15784729
Get a credit card lol

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>finance car for 72 months
>0% interest

>>15784729
Get a credit card. You'll have a tiny limit but if you pay it off every month and only use a little bit of it your score will increase

>>15784729
I had no credit history when I purchased a motorcycle at age 24. Had to get my mom to co-sign the loan for me and the interest rate was 8.49%. It was a new Sportster, $9,000 financed for 6 years. Paid it off in 21 months and took my credit score from nothing to 720.

OP here, I forgot to mention that I also had my Dad cosign and put a 5k$ down payment. I could literally get better interest on a fucking credit card

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>>15784622
>tfw 4.2% VISA with $30k limit
>tfw personal line of credit 5.0% with $20k limit
>tfw all vehicles are paid off

I don't even know my credit score, but it's damn good.

>>15784659
Car loans are good ways to build credit for the inevitable home purchase. Totally worth it if you get a decent rate. Simply setup automatic withdraw from your chequing and forget about it. Doesn't hurt to have overdraft protection either.

>>15784825
>wild tripfag appears

Damn. Well the thread was good up until this point I guess

>>15784772
This, had my parents cosign a loan for me when I was 20, gave me some credit from nothing up to 680 within 8months. Went and traded that car in for a brand new car at a 2.7% APR.

Good feels.

>>15784622
> 2009 Ford Expedition Limited in 2014
> $25K including 48K OEM warranty
> ~600 credit score
> $5K down
> 9%

You need to either talk to a bank or a different dealer.

Fuck, I now have a repo (different car, "sold" the expedition to my wife), and a ~550 credit score. Bought a 2011 Lincoln MKS for $23K with $3K down for 15% from fucking roadloans.com.

Made payments on time for 7 months, and re-financed down to 7.6%.

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>720 credit score + 1 year history
>no debts/ late payments
>19 years old
>get paid mainly in cash/tips
>go to a used only dealer to get a civic SI
>car was $15k, I was putting $5k down for an even $10k loan
>denied any form of loan due to me not making enough on paper
>tfw the shady dealer sent out my application to 4 different reputable banks and they all said "fuck that guy"
also, TIL sending applications for a loan WILL lower a credit score

>>15784825
>Doesn't hurt to have overdraft protection either
Overdraft protection does the opposite of what you think it does.

I abuse credit cards

>22
>buy used
>10k down 18k loan
>loan through credit union 2% interest
Side note asked for the loan 4 days before needing the check. Accepted immediately.

Why do you all have such high interest rates???

>>15784622
holy actual fuck, have you run a credit check on yourself? What was your fico score? did it have any inaccuracies.

Its real simple, if you apply for a loan and are getting absolutely raped on the interest DONT FUCKING DO IT.

>>15785340
>also, TIL sending applications for a loan WILL lower a credit score
An inquiry (hard credit pull will) can lower your score IF you do it a few times, since it shows that you're out there trying to take on new debt. Limit it to 1-2 per year and you should be fine. Keep in mind as far as the scoring is concerned, if you apply for a bunch of car loans within the span of a few weeks it only counts against you once since they do expect you to apply to different places, check your rates, and shop around. You're 4 applications only counted once against your score.

>getting anything more than 3% interest

It's not even worth it at that point, you're throwing so much money away

>>15785424
Multiple hard pulls in a few days won't affect scores, it just shows you're shopping around. It's constant pulls over months that really makes it bad. But pulls have a minimal impact.

Everyone should sign up for a credit card that offers free credit monitoring, there's multiple companies that offer it. USAA for milfags, Capital One, Amex, probably even more.

>>15784622
I got a 4 year $11K loan for like 5% and I'm 20yo with no credit history.

>>15785422
did you have student loans? I did and I'm not sure if it helps.

I had a similar process but needed a cosigner for anything over 10k. 1.5k down, on a 15k loan, 4.5% apr with my dad cosigning. like 3 months of credit card use before hand. pretty reasonable for someone working part time in school

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>>15784825

>home purchase
>inevitable

Boomer or very successful young man detected

>>15785492
Student loans do not help especially if you owe a crushing amount like many people do. In 10 years that shit is gonna explode when people who took our 50k for a four year degree can't finance anything else.

>>15785492
No student loans but i have a mortgage, and was at the time a cosigner for a loan for my father.

>>15785507

kek

judging from this thread times are tough for the burger flippers of America.

Why do people buy shit they can't afford? A house is one thing but a car, just save up a while before buying one. If it would take too long for your impatient ass to save up enough money for it then it's more than you can afford anyways and you should buy something cheaper.

>>15785485
>Everyone should sign up for a credit card that offers free credit monitoring, there's multiple companies that offer it. USAA for milfags, Capital One, Amex, probably even more.

I'd just suggest getting Amex because they're actually great card with a bunch of perks, the only drawback they're not accepted everywhere so you do need a visa/mastercard as a backup.

>>15785479
what about those without any credit history?

>>15784661
>705 credit
>be 20
>go to used car stealership
>they get me a loan on some TDi
>5.2% interest

callin bullshit m80. this happened back in march in central US, and I have minimal credit history besides (at the time) 8 months of paying off student loans, not even a credit card.

>>15784622
I WON'T GO ON ANOTHER RANT I SWEAR, BUT FOR FUCKS SAKE WHY ARE ALL OF YOU SPEDS GOING INTO DEBT OVER SHITTY CARS? SAVE YOUR FUCKING MONEY AND BUY THE DAMN THING WHEN YOU CAN AFFORD IT IN CASH.

>>15786026
We buy cars in cash. We aren't special fucking needs like the rest of this country/the world it seems. Don't take out a loan and buy a beater with cash while you invest. Watch this if you really want to know a little more about buying the cars you want without throwing your money away.

https://www.youtube.com/watch?v=3w5NtCCtZ54

>>15786116
no

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>>15786137
watch urself bud

>tfw bought my car at age 21 with 4% interest

Feels good, man. My mom always hammered me on the importance of building good credit. The only thing that held me back from getting a lower rate was only having 3 years of credit history.

>>15786393
>My mom always hammered me on the importance of building good credit

Your mom made sure you knew how to stay in debt for you entire life and waste countless dollars on interest that could be avoided by using cash instead of credit to buy shit? You mean to tell me that your mother drilled it into your noggin that you should'nt save up money to buy things, but rather should just go into debt for whatever you want even though you can't afford it? Huh, really makes you think.

>>15786413
>muh utilizing credit is bad
Have fun renting a shitty apartment the rest of your life faggot.

>>15786413
The whole point of good credit is being able to get a short-term loan with minimal interest you dipshit.

>>15786449
you can build credit by having a credit card and not fucking using it, or barely using it

taking out a massive loan and carrying a balance doesn't do anything spending $30/mo on a shitty card with a $500 cap doesn't. if anything, it's worse all around.

>>15786449
This. 4% interest on a $25k loan, even for 5 years, is around $2750. I could buy shit at yard sales to make $3k in 5 years. Even if you asked someone that works at McDonalds, they're not going to say $600 in a year is a lot of money.

>>15786131
muh social status

>be ugly, uninteresting loser
>can't get laid with an attractive, sane woman unless you drive a leased BMW
>go on a homicidal rampage if you can't even manage that

>>15786455
You are pants on head retarded if you think a $30 payment builds any sort of credit history like an auto loan or any significantly-sized loan does.

>>15786463
Tell that to my 708 credit score

>>15784661
>Bought first car from the stealership used

Ha

>>15786455
He didn't say anything about that. He said he got a decent rate because he had good credit. That was it.

>>15786466
>he thinks a credit score means absolutely anything when your history shows your largest line of credit is $500
Get real dumbass.

>>15786413
>Cant manage his own finances, or fell for the debt will end you maymay
>berates people who have a good handle on their finances

Enjoy owning the chinkyest of shit in your shitty apartment and driving a rusty shitbox that I'll need a tetenas shot if just happen to find you on the road.

Some of us like having nice things.

>>15786481
I took out a $15k car loan with a 3% APR and $1k down, dumbass. It's working fine for me.

Also my mortgage with a 2.7% rate might have something to do with that, but a house is generally a saner purchase than a car that can only depreciate unless boomers go insane

>>15786503
added: i paid it off in about a month because i'm "rich" from throwing cash into mutual funds and CDs instead of buying new anything

>>15786503
Funny you had to use a $500 credit card as an example. Make an educated statement and people won't think you're clinically retarded.
>I got rich from muh CDs
Kek. You really are fucking stupid. Stop with the pathetic damage control.

Interest for my car loan was less than 1 % for me in belgium. Only reason i actually considered it desu. Loaned 22 grand and have to back 22.9 grand or something like that

>>15785614
>>15786131
>>15786413
all of this

it's so fucking simple
don't buy what you can't afford

>>15785614
I can buy a nice daily for under 5 grand. I'm not buying an 818C and all of the shit I want for it for 5 grand, that's more like 20-25 grand.

>>15786485
>>15786485
People who can actually have a clue wouldn't buy and pay interest on a depreciating asset with money they don't have

Is it a bad idea to keep avoiding stealerships and the stupid jew bankers?

>Currently drive 2000 Ford Expedition
>Have $17k saved up for new car
>Have a single low limit credit card that I use for groceries
>Pay it off completely every month, fuck your stupid interest

I've never owned a new car before, but there aren't very many cars out that I actually want.

>>15786463
I started with$800 in credit about two years ago, with minimum payments of $25 a month, currently have a score of 730 with $2700 in credit now

>>15786660
No it's a great idea. Keep avoiding them.

Nothing wrong with a 2000 Expedition.

>>15784622
>car loan
>taking a loan to buy a car
Retard

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The biggest scam in history still avoids the masses.

>taking a car loan

Idiots

>>15784729
>get credit card
>use it regularly (like for fuel)
>always balance it in time
>wach score improve (slowly)

>>15784729
Have no need for a credit score in your future.

>be 24
>Finance 2012 civic
>6% APR
I owe 1300 in credit cards but ive always made my payments on time for the last 3 years.

>Buy a Ford
>0% for 72 months
>mfw free money

>>15786899
>will still owe for the car after the warranty runs out
Kek

>>15786908
>owning a car for more than 3 years
Tell me about EBT?

>>15786912
>financed for 6 years
Tell me about being retarded.

>>15786768
so how do i buy a house or apply for a loan if i want to start a small biz?

>>15786755
how do i get a credit card. (srs)

>>15786968
You don't unless you have some form of credit and/or collateral (mostly for a business loan). Best bet is to get a credit card, even a secured card in which you pay a deposit and charge against it. After a while you get an unsecured card and your deposit is refunded.

>>15786983
Find a store you like and apply for their card. Alternatively, a gas card or a secure credit card as mentioned above. Don't apply for 10 at once. It's not hard to get a cc, but controlling spending can be for some.

>>15784622

Did you learn anything from this mistake young anon?

All of you stupid fucking nigglets need to learn how to buy cars properly.

For starters you don't buy from the first dealership you see. Shop around.

Secondly, if none of you watermelon chomping bumper lipped porch monkeys don't have a bank account, get one. You'll find that sometimes you'll get a better deal through the bank, especilly if you been with the bank for a while.

Third, unless you welfare stealing negroids are driving long distances to work, buy a decent reliable used car or truck. Don't buy that fucking fancy Lexus that Jay-Z drove in that one shitty rap video. Get a relatively newer vehicle.

Pay cash for the vehicle if you can. If not, pay off the note as soon as fucking possible....unless your baebae momma takes yo cash for her new well hung nigga daddy.

Bottom line, make good choices with your purchase and you won't have to worry about behind ass reamed by dealerships, or being upside down on trades, etc.

>>15786983
go online and try to get a Citi double cash card

Use it for everything and auto pay balance every month. Its the best rewards card. If your credit is shit, they won't give you a high limit. Mines 800+ and I have a 2k limit.

If that doesn't work try capital one 1.5% cash back or the other 1.5s.

I use a blue cash preferred amex for all my groceries and gas and buy gift cards for places I eat out at and for steam/amazon. 6% cash back if I buy it at a grocery store. But you need great credit to get that card. Might be able to get the blue cash every day one though.

>go to dealership at age 24
>finance manager gets me 0.0% APR at 48 months
>tells sales guy that "[my] credit is better than [salesguy's credit]"

>>15784795
It sounds like your dealer may be trying to fuck you on the loan, have you tried asking a BANK for an auto loan with your father cosigning?

>>15785485
Multiple hard pulls for auto and home loans indeed won't hurt credit. The minimum interval in a FICO score is 14 days (FICO 98) with wider intervals of 30 days (FICO 04) and 45 days (FICO 08). Note that lenders today typically do use either FICO 98 or FICO 04 (very few use FICO 08).

>>15787065
Double cash is not in the approval range for first time credit. First credit card should generally be a student or basic credit card from the bank or credit union where you have a checking account.

>>15784661
Are you fucking insane? And you actually agreed to that? You deserved it 2bh, imbecile.

>>15787065
>>15787097
I have TD bank if that helps and you need good fucking credit to get a credit card from them

>>15787121
Are you still an actively enrolled college student?

Any preapprovals here? (These tools check for offers of credit potentially available to you based on buying your credit report and will not "hard pull", "ding", or "hurt" your credit unless you actually try to complete an application

https://secure.bankofamerica.com/login/eclo/entry/findCustomizedOffer.go?subchannel=ECCSHL&request_locale=en-us
>I understand that this is not a credit card application, and this search will not affect my credit score.*
https://www.discovercard.com/application/fmo?execution=e1s1
>Let's find your offer. It's fast, secure and won't affect your credit score.
https://www.chase.com/prequalified
>I understand that this is not a credit card application and that the process of checking to see if I have an offer will not affect my credit score.

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How are you guys getting these insane interest rates, my credit union's auto loan rates start at 3.4% for members with good credit.

>>15787165
I wonder this myself. I got a 3.1% from the dealer.
I probably could have gotten lower if I bothered to shop around too.

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>>15787132
>Are you still an actively enrolled college student?
nope

and

for chase i got this message

"We are unable to locate any offers for you at this time.

This may be because you have opted out of "pre-screened" offers from Chase and other companies or you have recently responded to another offer from Chase."

>>15787180
Pentagon Federal will go as low as 1.99%/36 months on a used auto loan (2.49% 48 months, 2.99% 60 months).

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>>15787132
and discover

>>15787203
Okay. You probably have a "thin file"; little or no information or loans. You're basically a total unknown.

You have two options:

1) If your income is decent (e.g. it's not $10k/yr) then you can try to apply for a starter card and see if you get approved. I would do this with Discover and see if you get approved.

2) You can apply for a secured card like Bank of America. You give a deposit (minimum $300) and pay an annual fee ($39 on that card). They will give you a credit card with at least of the amount of the deposit (usually more) as the credit limit. They typically graduate (and lose the annual fee) within a year. If you were to do this, I would do TD Bank's version by applying in branch, which is eligible to graduate to an unsecured card (you get the annual fee back on a pro-rated basis) after 7 periods of on-time payments.
http://docs.tdcardservices.com/pdfs/easyrewards-cashrewards-secured-card-agreement.pdf

tl;dr Apply for the discover; if that fails, apply for a secured card at TD Bank.

>>15784622
These threads make Europeans laugh.

>>15787294
And European insurance and inspection threads make us laugh.

>>15784622
>credit score

It's like letting a guy fuck your ass so it won't hurt as much when you get fucked in the ass.

>>15787296
Sure.

>>15784630
>Financed new car
>0.9% Interest

Sure feels nice having good credit

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>>15787302
Sure.

>0% interest
>3000 off for employee pricing
>500 off for student discount
>500 off for dealership military discount

Damn it feels nice to have good credit, I should have gotten a Mustang GT

>>15787316
>UK
>EU

>>15786393
Is that considered good?

>21
>0% interest

>ameriloans

>29 years old.
>Worked off the books for 10 years.
>1.9%

Its called having and using a credit card without fucking it all up.

>>15787316
>everyone is 17

Like already stated if you finance shit you cant afford and it isn't a house you're not going to get far.

>>15784622
>Go to dealership
>Apply for loan
>Initial offer '25+% Interest' "You can re-finance in a year!"
>"I'm not buying a car to re-finance in a year, I'm buying a car today. I understand if you can't make the numbers work, I can't either."
>"Well now waitaminute..."
>Dealer comes back with a 9% interest offer
>My credit is in the high 500's

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>>15785342
>overdraft protection is bad
Automatic withdraw ensures perfect payment history while overdraft protection covers you if you're late with a deposit.

>>15785507
>boomer
Lolno

>>15784622
>apply for car loan
>4% intrest
>apply for signiture loan while i have a car loan
>9% intrest

credit unions will always be the champion of the people

>>15787294
t. 1.3L shitbox driver.

>>15790361
yuppie confirmed

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>>15784642

This, your real goal if buying used is to pay in full, and AVOID DEALERSHIPS

I wouldn't even recommend buying new, just wait a year and but certified used, thousands of buckaroons saved

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>>15790379
>MFW have credit card endorsed from credit union.

>2800$ signature
>paying back 3000
>bought ls1 trans am

>>15784622
Stop going to buy here pay here dealers anon. Do you not go to lpg threads.
>>15784663
Rx-8 fucks over people on insurance btw.

>>15790823
I have the chance to do so as well for cheaper but i need a dd.