Credit Scores and Buying a New Car
#1
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Joined: Dec 2013
Posts: 24
Credit Scores and Buying a New Car
Hi everyone,
I need to buy a car for my own sanity, as I am stuck at home and it's very hot here in Charlotte. I am on a K1 visa and will be getting married in just over 6 weeks. The problem is I do not have a credit score and have maybe 2000 USD to buy a car. The question is where should I look?
I need to buy a car for my own sanity, as I am stuck at home and it's very hot here in Charlotte. I am on a K1 visa and will be getting married in just over 6 weeks. The problem is I do not have a credit score and have maybe 2000 USD to buy a car. The question is where should I look?
#2
Re: New car question
Hi everyone,
I need to buy a car for my own sanity, as I am stuck at home and it's very hot here in Charlotte. I am on a K1 visa and will be getting married in just over 6 weeks. The problem is I do not have a credit score and have maybe 2000 USD to buy a car. The question is where should I look?
I need to buy a car for my own sanity, as I am stuck at home and it's very hot here in Charlotte. I am on a K1 visa and will be getting married in just over 6 weeks. The problem is I do not have a credit score and have maybe 2000 USD to buy a car. The question is where should I look?
You're heading into shark infested waters trying to buy a drivable car for $2,000, because that is at the very roughest end of the market. .... And to your point about the weather being "hot", a $2,000 car is unlikely to have effective AC, if any at all! .... You're likely to find yourself driving a toaster oven around until late in September!
And what about insurance? Do you have a budget for insurance? Also, do you have your NC license yet?
Last edited by Pulaski; Jul 2nd 2014 at 7:18 pm.
#3
Re: Credit Scores and Buying a New Car
Does your OH have a car? If so maybe share the car? I didn't have my own car for the first 3 years in Charlotte. But I used to drive my OH to work when I needed the car and then just picked him up again at the end of the day. He never used the car during the day; it just sat in the car park at work.
#5
Re: Credit Scores and Buying a New Car
Does your OH have good credit? If so, you can get something a little better using their credit score, provided you can afford the payments.
There are also the 'buy here, pay here' dealers, where you'll get horrible rate, but could get a slightly better set of wheels without a credit check. Personally, I wouldn't even think about buying from one of these places, bearing in mind that there will almost certainly be zero warranty. If you do, get it checked out thoroughly and insist on a Carfax report before you part with a dime.
There are also the 'buy here, pay here' dealers, where you'll get horrible rate, but could get a slightly better set of wheels without a credit check. Personally, I wouldn't even think about buying from one of these places, bearing in mind that there will almost certainly be zero warranty. If you do, get it checked out thoroughly and insist on a Carfax report before you part with a dime.
#6
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Joined: Dec 2013
Posts: 24
Re: Credit Scores and Buying a New Car
Yes, she has a good credit score but how will it effect her credit score if she adds me to her credit card.
#8
Re: Credit Scores and Buying a New Car
Yup. She is entirely responsible for you being on her card, so if you screw up, you hit HER rating.
Of course, you're not building your own credit history, but it'll handle the inconvenience.
Same with a car loan. The car will be in her name on the loan and the registration document.
Of course, you're not building your own credit history, but it'll handle the inconvenience.
Same with a car loan. The car will be in her name on the loan and the registration document.
#9
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Joined: Nov 2008
Location: Seal Rock, Oregon
Posts: 842
Re: Credit Scores and Buying a New Car
In some states, this is illegal, but buy here, pay here places can avoid the regulations in some cases because they're not classed as financial institutions.
#11
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Joined: Dec 2013
Posts: 24
Re: Credit Scores and Buying a New Car
Hi everyone, thanks for all your help so far.
I am going to think about the car for a while.
I am going to think about the car for a while.