Big Dblue

Hey guys, im just now starting to work and making some money. I am only 19 and still live at home. I should be getting a call from one or two places that i have applied to and both pay about $2,400/month. I want to move out and get an appartment when i can. But my question is how long will it take to build my credit to get a truck. I have a cell phone and a credit card in my name (but my mom has my credit card, so i wont ruein my credit lol) But i was also wondering if i could get a car loan with barely any credit? or how long will it take to build it up good enough? looking at a diesel less than $17,000 (24v, 4x4) or less than $13,500 (12v)
Which should i go with? Im pretty sure i could get the more expensive one financed and the 12v would prolly want cash?
Thanks,
Trapper.

wannadiesel

Don't get a loan, save up and pay cash. You don't need a truck payment.

Big Dblue

Ya i was thinking that too! but i have been without a truck forever it seems like and i dont think i can wait if i start making money and live in a town where everyone drives bad edit trucks.!
It will be hard to not purchase w/o cash.

Purplezr2

Buy with cash you will be better in the long run, believe me, pay cash for everything its the only way to do business.

ptm600

I agree with the above posts. Save until you can afford to pay cash, but if you do get a loan for an auto a rule of thumb is never take more than a three year loan. If you can't pay for it in three years, you can't afford it. Anything more than three years and it's an upside down loan.

RAMRODD

Dont pay cash!!!!
If you want to build a credit history you need to get a loan. What I did was save for the truck so I could pay cash. But instead took out a loan and payed for it in 6 months. Sure I did pay some interest but it did improve my score drasticly.

Purplezr2

He should get credit history from renting, credit card, cellphone shouldn't he. I have never had an auto loan. I had a 4 month student loan and I have awesome credit at 23.

Big Dblue

Ya i forgot i do have some student loan too! im paying that cellphone, and rent later on, and 1 credit card. But im not buying anything hardly on the credit card so i dont hurt myself. I was just wondering if i saved up about 5k and then went to the bank with that and got out about 10 or so and just made monthly payments and paid the truck off in about a year or so. But i really dont want a 20+k truck with 400+ payments!
Thanks for the advice guys,
Trapper.

Alwaysworking

you can get 12v's cheap if you go first gen mine cost $1,500.

torquefan

If you're planning on getting an apartment soon, I would do it before I bought the truck, and just see how much money's left at the end of the month for that truck payment and insurance. You may enjoy your new place, and decide you'd rather have the extra money to buy furniture and food and stuff. Don't forget, your bank may require that you have a certain amount of insurance on that truck until they are paid out for the loan, which may amount to much money than you would normally spend on insurance.

Big Dblue

Ya im going to get an apartment first. And drives my dads truck for about 3 months before i get a truck! So i can save up money! But i guess i will go with an older truck with a 12v that way i can have more money and hopefuly i can get a loan!

roughstock

Credit scores are really a bunch of bull. There are many people that have a credit score of 0. Yes, zero, because they pay cash for everything and don't borrow money. A score of 0 is not a bad thing. I would save money until you can pay cash. Ditch the credit card, because, if you cant afford it, you dont need it. just my opinions

Alwaysworking

most of the time the bank will want full coverage on anything financed.

RickG

$2,400 a month is only $600 a week before taxes . Before getting any loans or credit cards see how much you have left after basic expenses like gas (or diesel) , rent , utilities , and food .

Purplezr2

You know they can be used as a tool, I use mine to pay for everything even though I have the cash to pay for it, I don't have to carry cash and get all the free reward points, I just got a 300 dollar gift card for free.