IM GOING CRAZY!!! LOL Went to the dealer twice to pick up my fully loaded 6mt ip g35 with navi on sunday and tuesday and both times we werent approved!!!!!!!!!!!!! FIrst my sister went and she's 22 with not that great credit score roughly 645 and also a car loan (purchased a new car about 5 months ago) and yeah NOT APPROVED! Then my friend at 27 yrs old with a credit score at about 645 going to co-sign for my sister guess what??? NOT APPROVED! He also has a car loan. WTF am I suppose to do!!?? lol PLEASE SOMEBODY GIVE ME SOME GOOD INFO! I actually turned 18 today make anywhere from 1500 to 2500 a month and been slowly building my credit for 6 months. Is there anyway I can get approved for lease?? or atleast buy??? If not I think I'm going to have to try and get a new 06 350z enthusiast as there somewhat cheaper and I might have a better chance of getting approved you think?? Also I have noooo one else to co-sign for me so...... THANX

Isnt this a double post?
Well since you are 18, wait until you build your credit up (and your cash flow)and then get the car. I waited a long time for this ride, maybe you should get something that you can get approved on and work your way up to a G35 Coupe.

Just my opinion..

yeh, i recommend you get a real job first.

www.capitalone.com

i was approved for my honda when i had almost no credit for 25k some years back... went again with them for the loan on my G

If you're only making $1500 - 2500 a month, I'd say that this car may be a little out of your price range bud. No offense intended. Also, You got some good friends if they are willing to even attempt to co-sign, Id never in a million years co-sign for someone. I worked hard to maintain excellent credit, and I wouldnt trust anyone to not screw it up for me. If you're only 18, you've barely had time to begin to establish your credit history. Be diligent with your payments and getting things paid on time and eventually you'll be there.

Whatever you do, good luck! Capital One is pretty willing to extend credit to people with little credit history, the only drawback is the high interest rates it comes with. My very first Visa card came through them.

FINANCE THE CAR

Go talk to the finance manager PERSONALLY at the dealership and tell him your whole story. where you get your money from, how much it is, why your credit score doesen't represent your actual ability to pay. And make a FATTY down payment, to finance the vehicle. Like $6000+

That is your best bet.


if your money doesen't come from a legitimate source you better have a good story

Good luck

Oh yeah and get a Loaded 04 w/Aero

w/a down payment of around $6000 your payment should be in the $300-350range if he'll get you a good interest rate.

Finance managers have good relationships with banks, if he tells them you are a worth while financee then he can get you a good deal.


I would say your chances at a new G under your circumstances are non existant, unless you pay cash :-P~

BigSash, it's not up to the finance manager to approve. In the end it's the bank decision. The bank is the one that is buying the car from the dealership so it is up to them. I got an 03 coupe for 27k 5 months ago and put down 6k and my payments are still at 450 a month. There is no way he could find an 04 for that price and have low enough interest charges to get teh payments down to 350 unless he is going to finance it for like 10 years (which would be a bad idea)

Back to the original post, 6 months of building up credit is nothing. You need to build up over years. I've been building credit now for 7 years and have a good score, but still have little history. Maybe since you are only 18 you should go for somthing a bit less luxurious and establish your payment history through that first and then worry about the more expensive cars later. With insurance, gas, and car payments you'd be paying like 75% of your income on a car that is only losing value. Save your money now and you will be thankful later.

From what you've posted so far, its not going to happen. They dont give $35000++ car loans to people with little or no credit history and lower scores, it's just the way it works.

Some ideas to help build your score quicker -

DO NOT open tons of credit cards (save 10% at our store when you open a card bullsh*t) - keep 2 or 3 MAX open, thats it. Close the others.

Use both/all of the 2 or 3 credit cards every month, and pay them off in FULL every month. This establishes you using an open line of credit actively AND paying it off on time or early.

Even if you cant get the G, get something you are making payments on. This helps your credit.

If you dont live at home, make sure your name is on whatever lease you have. Try not to move around too much - they ask how long you lived at each address.

These are small things but add up after time, and make sure you NEVER pay anything late. Save up for a good size down payment and you might have more luck in a year or so. As a few others have mentioned, you can prob get a nicely equipped 2003/2004 for mid to high 20s. With a hefty down payment you would only be trying to get a loan for 20k or under and will have a good chance with your sister co-signing.

Another blurb of advice, DO NOT let your friends co-sign for you. If something happens to you, you could screw their credit to hell. Even if it doesnt, they may ask the same favor later and in turn put your credit at risk. A good friend of mine cannot even get her own car at a decent rate after her sister killer her credit 5 years ago.

buy a civic.

As a note when I first went to by my '04 G I was turned down by 1 bank. At the time I was 24 with a credit score of about 730 making about $62k/year (~$4,500/month after taxes). Their rational was that I had never had a loan approaching this size. I was like wtf! I ended up getting it through another bank anyway, but when you start getting into big ticket items banks are very cautious.

I'll reiterate something mentioned earlier though. If youre only making about $2500 a month, you should probably wait in all seriousness. Maybe look at a RSX or something first. The last thing you want to do is spend too much on something no essential. You need to factor in how much you're paying for rent and bills and stuff too.

Good luck.

If you read my post I said that the Finance Manager has good relationships with loan officers at banks, if you tell him your personal story he can pull strings and put in a good word for you with the bank.

My friend new the finance manager at my dealer and introduced me. At the time I had little credit history but was in a good financial situation. I made a big down payment and he talked to someone at bank of america. He told them I was a good loan and if they take me he will send them the next few clean deals.

And voila, here I am in my G with 7% interest and payments under $350.

Good luck

building credit take time, you can force your way in and some may let you in but you'll be paying high interest rate. I put in 5K and last Oct. and I got the lowest Interest that they can give at that time which is 5.9 and still paying 600 a month. Since interest went up now I'm not sure if you can handle that kind of payment with that income. Your 18 and shouldn't be driving a 35K car unless it's payed for or your parents gave you one!!!

jdmrsxs02, do you really expect things to be handed to you like that? IMO you've only made your situation worse. There's a little detail about applying for loans that not everyone knows about- every time you applying for a loan, you receive a credit check. CREDIT CHECKS LOWER YOUR SCORE! Your low credit just got worse along with your cosigners. On top of that, you applied with people whose scores are fair at best. Even if you get a loan the interest rate will be through the roof. This all sounds like a recipe for disaster. Take some good advice and wait to build your own credit. Yeah, it takes years. Man up.

This might work but you said you put down a Big down payment.. I'm not sure if the original poster can put a big down payment like you did.

Bottom line the more money he's trying to loan the harder it will get approved. If he want to get approved maybe he should put down around $ 15K