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How do you get credit?!?!?!?!

My husband and I are trying to buy a new car. We can't get a loan because the biggest amount we borrowed was only $2000! Okay, So to me it seems like we have to be in debt to buy a car. We have no notes no loans nothing!! Just utilities, we own our home and land. We was going to put $2500 down they said it wasn't enough... the car is only $14995! UGH this makes me mad!

 
Anonymous

Asked by Anonymous at 10:59 PM on Jul. 16, 2009 in Money & Work

This question is closed.
Answers (7)
  • Did you take 2 years to pay it off or did you pay it off early?? The amount isn't as important as the time frame. People want to see that you can maintain a payment every month for an extended period of time.

    This is my problem, I have an excellent credit score, but I've only had credit for a little under a year. So it's pretty much still like I don't have any credit, because of the low time period that I've had it for.
    HisMommySince07

    Answer by HisMommySince07 at 11:53 PM on Jul. 16, 2009

  • You just need to pay your bills on time. You could get a credit card and just use it for necessities to build up some credit, but that can drop your score, because it tells lenders you want to borrow more money. Do a google search and you will find all sorts of good information. The hard part is it takes time.

    Now for the car...Do you have anybody who would be willing to co-sign?
    Anonymous

    Answer by Anonymous at 11:03 PM on Jul. 16, 2009

  • Anonymous

    Answer by Anonymous at 11:04 PM on Jul. 16, 2009

  • I don't have any bills besides utilities and they're paid on time.... I really wouldn't want anyone to co-sign because I would do it for anyone....So, I'd feel bad if I asked someone to do it for me,
    Anonymous

    Answer by Anonymous at 11:06 PM on Jul. 16, 2009

  • Are you sure that you were not declined because your income was too low or you had late payments?
    rkoloms

    Answer by rkoloms at 11:12 PM on Jul. 16, 2009

  • My husband makes about $3000 a month. We had one load for $2000 about 2 years ago and nope my payment were not late.
    Anonymous

    Answer by Anonymous at 11:21 PM on Jul. 16, 2009

  • My payments were $108 a month and i sent $150 -$200 a month so i paid it off a little early.
    Anonymous

    Answer by Anonymous at 12:00 AM on Jul. 17, 2009

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