Car loans...

[gh00747]

Hey fellas,
So I am looking to buy my first truck aside from my bronco I paid 2,200$ for when I was 16. I would like to take out a loan of some sort, and put at least half of the total value for a down payment. Can anyone point me in a good direction for loan options? I know your bank can do it and what not, But I have NEVER had a credit card or anything to build any credit thus far aside from the power bill with GA power (Im only 22). Im not even sure that contributes to your credit score. Im looking for something good that I can put a majority of the money up front, and borrow a little whilst also establishing myself some credit. Thanks alot for those of you who are more experienced with this!

 

[hamburglar3]

join a credit union.

 

[cpw006]

Are you or a family member of USAA? They are only available to current or former military and their families. I've had good experience with them and their rates have always been lower than anyone else. And their customer service is great.

 

[gh00747]

Are you or a family member of USAA? They are only available to former military and their families. I've had good experience with them and their rates have always been lower than anyone else. And their customer service is great.

Nobody in my immediate family is, I have heard great things about those. That was my first thought!

 

[b.a.customkydex]

Are you or a family member of USAA? They are only available to current or former military and their families. I've had good experience with them and their rates have always been lower than anyone else. And their customer service is great.

Not to side track things but does the military member have to have USAA?

My dad is former Navy served on the USS Saratoga

 

[Zeake]

Credit unions have the best rates.

 

[NY63]

join a credit union.

Agreed. Associated Credit Union is great. The only downside is a limited number of branches.

 

[oldford]

I was in the same boat earlier this year. I just took a pay stub to a car dealership, had my grandpa cosign. The first bank we tried said no, the second said yes. You just have to show your wanting something within budget.

 

[gh00747]

I was in the same boat earlier this year. I just took a pay stub to a car dealership, had my grandpa cosign. The first bank we tried said no, the second said yes. You just have to show your wanting something within budget.

Im pretty confident my dad would cosign with me. I just want to work on my credit score!

 

[Kaikias]

My recommendation would be to head over to the myfico forums- there's some great advice on there.

You're going to need a cosigner of some sort- and your interest rate will probably not be the best; however, since your're planning on making a sizable down payment it should help.

Like others have said joining a credit union of some sort will be your best bet, Georgia United offers a lower interest rate for your first loan if you open one of their student accounts so that may help.
Unfortunately by not having any credit cards your behind the curve when it comes to credit scores, and you will need them to build a score.