I Hate Credit :x

[Xuon]

i think everyone was in this part of life when you are starting your credit and cant buy shit because they say to you "Not Enough Credit History" :x

How the hell do they want you to build credit history if they dont give me credit? i cant build everything out of my credit card :x :x :x :x :x :x

I just want my car :(

i called in today to a lot and they had a white 318is 1991, with 101138 miles and they have it for $4000, but stupid credit company wont aprove me :x regardless of the credit, do you guys think this is a good deal? carfax came out clean

[Henna Red]

sounds like a good deal, allthough most guys on here will say that its too much for a lowly 318. Its crap though, they dont want to face the fact that the 318 is worth more, typically.

[Xuon]

any advice on how to buy it??? i have 2000 for a down payment but the guy said they wouldnt take it because of my credit history, not enough :x :shock:

[Digitalwave]

sounds like a good deal, allthough most guys on here will say that its too much for a lowly 318. Its crap though, they dont want to face the fact that the 318 is worth more, typically.

How the fuck are 318's worth more? They are stripped down 4 cylinders. Sure they have better balance, lighter, all that good stuff, but that by no means make them worth more money.

[parkerbink]

Get a cosigner, after a year of no late payments you can take them off & you will have everyone that offers credit & credit card card companies throwing offers at you.

[Jon325i]

Just like parkerbink said.....get a co-signer. If you can, put over a $1000 for a down payment and make absolutely certain you don't miss a payment....even if it means your dog/kid/significant other must starve for a month or two. If you sign a loan and miss a payment(s), that credit blemish will haunt you for a while.

Jon

Edit: As someone mentioned, a bank won't lend you funds for a car this old. They typically don't fund loans for cars over 7 years old. If this car is at one of those second-hand car lots, they might be able to swing some financing for you....but its going to have a rediculously high interest rate.

[nando]

good luck getting a loan on a car that is 13 years old at least. most banks won't give you a loan on an old car even if you are approved.

personally, I have too much credit. my credit card companies keep thinking I want higher limits, but all I really want to do is pay them off and close my accounts :P

[Mike 91 318ic]

Keep in mind a bank won't want to give you a car loan for 2k... It's a waste of everyones time... FYI a minimun line of credit is 5k. Just keep saving and pay cash since you're half way there, or get your parents to lend you the money... The easiest way to buid credit is to get a secured credit card and over the next year you will have a good start. Check out capital one master card... You give them 1000.00 they'll give you 1000.00 credit limit it's that simple.

M

[Ryan Stewart]

with good credit on the line they would give a personal loan. You would need a cosigner with good credit though, and the rate would be higher than a true auto loan.

[Halon]

Keep in mind a bank won't want to give you a car loan for 2k... It's a waste of everyones time... FYI a minimun line of credit is 5k. Just keep saving and pay cash since you're half way there, or get your parents to lend you the money... The easiest way to buid credit is to get a secured credit card and over the next year you will have a good start. Check out capital one master card... You give them 1000.00 they'll give you 1000.00 credit limit it's that simple.

M

well I got around that by asking for a personal loan. It is true about car loans though, they don't like to give little loans to old cars and young kids. I had to get my parents to co-sign for my loan, but I haven't missed a payment yet (something I'm quite proud of. ;)) Anyhow, if you can get a personal loan, they may do that for you. I got one for 2000 dollars, and I only owe them like 400 dollars for taking the loan. So I think its pretty good for me. less than 100 a month. :)

[Xuon]

well, the car got sold :x :(
i need to look for a new one, i could spend around 4000
btw, im in San Diego 8)

[ydubbs4]

good luck getting a loan on a car that is 13 years old at least. most banks won't give you a loan on an old car even if you are approved.

Not necessarily true, it depends on the car. A regular run-of the mill E30, probably not, but I was offered up to $10k by my bank to buy any year E30 M3, and I went with an '88. Thats $10k on a 16 year old car with no down payment (but yes, my credit is spotless). Some of it depends on the cars worth (and a few other factors, what kind of risk you are, annual income, etc.)

FWIW, I'm 24.