I am a full time college student and full time supervisor at my job. I make a reasonable income (around 1200 bi weekly, before tax) and have little to no expenses. I have a couple of credit cards, which are paid off monthly. I also have a 2000 Jetta that I could trade (though not for much) and a few thousand saved up.
I am finding it hard to get credit from a traditional bank, and the credit unions in my area I cannot get into (no state employees or farmers in my family ha, private school eh).
I need a cheapish newer car (within 8 years preferably, under 100k miles)
How can I get make this happen? Should I attempt to get one from a BUY HERE PAY HERE. Dealership or am I just doing this process wrong?
Check with the Credit Union National Association for a list of credit unions that will take you as a member.
Don't use a Buy Here Pay Here dealer -- the rates will be very high.
Keep saving your money. You'll find that after two years of income, anyone will lend to you.
Get library card and learn about used cars and how to repair them.
Pay as u drive does NOT build credit score.
U pay more for insurance.
U pay more for car.
Buy good used car for 4000$ sell your for cash
U come out ahead
Buy here, pay here often = Get raped here. Keep saving your money, building your credit, then shop wisely.
Many credit unions are no longer restrictive to jobs or schooling.
For example: anyone can be a member of the Pentagon Credit Union (as in "the pentagon")
