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How can I get a loan if I have no credit history?

How can an 18 year old get a loan without having the chance to establish a credit history?

  • If an 18 year old is trying to purchase a car, but is not approved for a loan since they don't have a credit history, what can they do? There isn't a parent that can co-sign either. It doesn't seem fair.

  • Answer:

    Get a secure credit card. Make payments on time. Score will go up in time.

Nutmeg at Yahoo! Answers Visit the source

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Other answers

Save your money and go to car lot that advertises "your job is your credit" Or go to college and get a car with your refund.

constance1922

Is there someone other than a parent who can co-sign?

MrMouse

If you have a job and a bank account, try going to your bank and borrowing small amounts at first...$500.00 or $1000.00. Just deposit it back into your account and pay it back on time...this will help you build good credit. Also try to get a credit card, even with a low credit amount like $500.00. Make small purchases on it and pay them off each month...you will build your credit score even in these little nibbles.... HOWEVER DO NOT MISS PAYMENTS OR DEFAULT!! It will take you longer to improve bad credit than it will to build it from scratch.....

jbs80922

In addition to answer #1 you can apply for store credit from say macy's or any store that offers their own credit cards. This type of lending is a bit more loose. Only you are trying to build credit so make your payments on a timely basis.

Exlr8.ws

go with her idea it's the only way for people like us

bigbizzybill

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