Best Way To Get Your Credit Up Quick? Looking To Buy A New Car , Need Some Advice

[DRAMAQUEEN]

yea but i just dont know if its worth it.. even tho mortgage and car loans are huge in boosting your credit i dont wanna end up paying 30k for a 20 k civic

[SPL2K]

i dont wanna end up paying 30k for a 20 k civic

honestly you dont have much of a choice at first with low credit scores. Unless you have atleast 25% down, you will be paying pretty high interest IF you can get financed. The best thing you could do right now is settle for a cheaper car for awhile and get a couple of secured credit cards.

Do you still have credit cards now? Are they open, closed or charged off?

Do you have a current copy of all 3 credit reports with FICO scores so you know exactly what you are up against?

[DRAMAQUEEN]

honestly you dont have much of a choice at first with low credit scores. Unless you have atleast 25% down, you will be paying pretty high interest IF you can get financed. The best thing you could do right now is settle for a cheaper car for awhile and get a couple of secured credit cards.

Do you still have credit cards now? Are they open, closed or charged off?

Do you have a current copy of all 3 credit reports with FICO scores so you know exactly what you are up against?

I have 2 credit cards that are now closed.. and i have not got a copy of all my credit reports.. just the equifax which seems to be the only one ppl use or go by here. and the only reason i really want a civic si is cuz the resale and value is just sick .. ( ppl are getting 16k on a 2 year old si ) which at that time costed 18-19k .. idk.. i just wanna get rid of my mitsu and get a NEW car that ll b worth something in 4 years

[SPL2K]

I have 2 credit cards that are now closed.. and i have not got a copy of all my credit reports.. just the equifax which seems to be the only one ppl use or go by here. and the only reason i really want a civic si is cuz the resale and value is just sick .. ( ppl are getting 16k on a 2 year old si ) which at that time costed 18-19k .. idk.. i just wanna get rid of my mitsu and get a NEW car that ll b worth something in 4 years

Some lenders use Equifax. Others use Trans Union and Experian. If you get copies of all 3 reports you can then tell the finance guy at the dealership that your highest score / cleanest report is on " whatever CRA".

Anytime i buy a new car now i know exactly what my scores are before i walk in the door and i tell the finance guy to ONLY use lenders that check "whatever CRA is the highest at the time"

If you have low scores to begin with and try to get financed without doing a little research and work on your own credit reports, you will end up with even worse scores (from all the new inquiries at the dealerships) and possibly no new car at all.

I went through the same thing so i know all this from experience. I destroyed my credit when i was about 22 or 23 and it has taken me 15 years to get it back to where it is now. I know all the tricks now.

[DRAMAQUEEN]

Some lenders use Equifax. Others use Trans Union and Experian. If you get copies of all 3 reports you can then tell the finance guy at the dealership that your highest score / cleanest report is on " whatever CRA".

Anytime i buy a new car now i know exactly what my scores are before i walk in the door and i tell the finance guy to ONLY use lenders that check "whatever CRA is the highest at the time"

If you have low scores to begin with and try to get financed without doing a little research and work on your own credit reports, you will end up with even worse scores (from all the new inquiries at the dealerships) and possibly no new car at all.

I went through the same thing so i know all this from experience. I destroyed my credit when i was about 22 or 23 and it has taken me 15 years to get it back to where it is now. I know all the tricks now.

thank u

[may03LT]

1- I would get a copy of the credit report from each bureau (transunion, equifax, experian) to verify accuracy

2- Dispute any mistakes with the reports, Ive found they will work with you

3- I would get a current FICO score

620+ you shouldn't have a prob provided the down payment is good.

[ROBERT 04XBLZ]

thanks for the replies guys... I understand it takes time to build , i mean hell, i had great credit before all this started last year ( 680 ) now in in the low 500's fuk , its almost depressing how a few months of bad luck can ruin ur credit and in some cases ( life ) because of a mistake or just bad luck.... .. I think the civic i was looking at was around 21k ... so can anyone to the dirty work for me and figure out ( for example ) what the monthly payment would be .. One at 9% ( which is what i payed on my last buy ) and oooo lets say 20% .. based off i'd say 18k

well i was always told that its usually around 200 for every 10k

[mrwigglezdj]

my dad use to sell hondas in daytona, and i recall him sayin that if you walked into the showroom with 7-10k down payment on a brand new fully loaded car with bad credit you would be leaveing with the car of your choice,

if you are makeing the money again save it up, untill you can do 5-7k down and then aproach the dealer then and show them the money first and let them work for your business, no salesman in his rite mind will let 5-7k walk away

[DRAMAQUEEN]

thanks alot guys, . It slippe dmy mind but whats the site to go to where i can get all 3 of my credit reports?

[Dale]

A good way of building credit is to get a secured credit card. A secured credit card requires you to have the money in the bank rather than no money like a traditional credit card.

Also, having some sort of collateral helps...namely, a fat savings account, property etc.