Tritroid
Member
Ok vehicle owning GAFERS, I've recently decided that I want to purchase a new car. I'm a junior in college and up to this time I've been driving a 2000 Corolla that my parents had paid off for me to own, but I want to upgrade to this:
A 2005 Mazda Tribute.
My problem however, is getting a loan. I wanted to go through my university's credit union, because they offer low rates for students, but they tell me that I will have to have a co-applicant because I basically have 0 credit. (I figured they would have made it easier for students since not many have that much credit at this point anyway, but they don't.) I wouldn't have a problem with having a co-sign, as my sister could just sign off on it (she has very good credit), but she won't do a co-applicancy because if I fall back on a payment it also affects her credit not just mine. And I can't get my father to sign for co-applicant since his credit basically sucks.
So my question is, did anybody go through a situation like this when buying their first car with minimal to no credit and somehow avoid a co-applicant? If so, what did you do to pull it off and where?
A 2005 Mazda Tribute.
My problem however, is getting a loan. I wanted to go through my university's credit union, because they offer low rates for students, but they tell me that I will have to have a co-applicant because I basically have 0 credit. (I figured they would have made it easier for students since not many have that much credit at this point anyway, but they don't.) I wouldn't have a problem with having a co-sign, as my sister could just sign off on it (she has very good credit), but she won't do a co-applicancy because if I fall back on a payment it also affects her credit not just mine. And I can't get my father to sign for co-applicant since his credit basically sucks.
So my question is, did anybody go through a situation like this when buying their first car with minimal to no credit and somehow avoid a co-applicant? If so, what did you do to pull it off and where?