hey guys, been looking into getting a new car for a while now.. got a 2k Dakota right now, reg cab, 4 cylinder.. your basic "Point a to b" kinda vehicle.. anyways. Its got 110k miles and thats not good lol.

I've got roughly 1200$ "extra" cash every month..

I work full time, in college, live with my grandma(she has alzhiemer and I sorta take care of her with my mom). 20 years old... no credit history really. Except for a bank account that got all screwed a long time ago.. but I took care of that a while ago. Basically, I have no credit, maybe a bit negative from that stupid bank account(damn bank of america). How should I go about building the credit up some?

I know buying a car is a great way to build credit, and frankly I can't deal with a truck thats gonna start screwing up a lot. Just this last 2 months its been a t-stat, battery, fuel pump, and drive shaft ujoints. Getting to the point where its almost cheaper for me to just pay new car payments.

So what do you guys suggest I do.. I really like the Xterra's.. its in my price range with insurance. I do appreciate the idea of buying a cheaper economy car, or even a used one. It would probaly even be easier to just get a cheaper car as well, but its my money and I work hard for it and wanan have a nice ride.


So!

Spread your wisdom with me.

I have an '01, and its got over 100k on it, as reliable as an anvil.

I get about 20 mpg average.

Most people seem to average between 15-20 for the Pre-'05 X's, and in the low 20's for the '05 plus X's...as the new engines are much more powerful and economical.

:D

I offroad mine all the time. It seems to love it.

If you get an X. I'd say, get an '06 OR model. It comes with the coveted rear locker, unavailable on any of the other models.

Then, get dirty, have some fun to reward yourself for all your hard work.

:D

Certain car dealerships will finance you with no credit history, but they screw you on the rate. Try getting an auto loan through your own bank or through a place like Lending Tree. Maybe your mom could co-sign with you to help you get a better rate on the loan.

If you want to build up credit, don't go and buy a cheap used car with cash. Get something reliable with an affordable monthly payment. And don't forget to budget for insurance, gas, and maintenance.

If you are in a hurry you probably would get financed but at a high rate. As for building up your credit up, I would get a credit card at a jewelry store. Buy a nice watch or a couple of things. Then maintain that credit for 6 months min. Then apply for a credit card either at your bank or elsewhere Visa or MC. If you still can't get one try stores like Sears or JCpenny. Once you do get one, do the same thing buy something and maintain a balance for at least 6 months.

My brother has little credit and is trying to build his as we speak. He went to buy a car a few years ago and was offered 26% interest. I ended up putting my name on the loan to get him 3%. His is now stable enough so that he can get credit cards, and decent loans on his own. Just not the best rates.

I went to a dealership saturday.. like 23% intrest.. I told em that i'll keep it in mind.. o_O

Gonna switch to a credit union soon.. i'll takl to them about building CH.

Thanks guys :)

I just graduated school with zero credit history. I went to the dealership and the only bank that would approve me was wells fargo. Nissan financing turned me down and so did about 30 other banks. Im still getting all the letters explaining why each bank turned me down.

23% interest is off the charts and is borderline ridiculous. My bet is that you could do much better at a bank or a credit union. My advice to you would be to try to finance through a bank. The going rate is around 7-9% for someone with average credit so you might be somewhere around 12%. If you need the car now, take that rate, put up with the high monthly payments for a full year and then go back to the bank and see what kind of rate they'll give you for a "personal" loan. Chances are you will have built up enough credit for a rate lower than 12%. Take that personal loan with the lower rate and use it to pay off your car loan. By doing this you will not only save money you will also get the title to you car....somethign that most people dont see until the end of their 5 year payment period.

Hope this helps...oh and go with tj's advice. Get the off road edition...I went with the S and even though i may never need it the locking diff is just plain cool to have.

Mike