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Old 04-23-2013, 03:18 PM
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Truck dealer financing help?

Hello guys,
The back story is I will be graduating from college come may and I was looking to get myself into a brand new truck this summer. I have a job lined up that I am beyond fortunate to receive that will put me in a very good financial situation if all goes to plan.

Now for what I am wondering. I want to finance this truck myself without a cosigner. I guess what my questions are....how do I get financing for this? Will I have to wait to verify my income? If so, how much proof will a dealer need? If that is not enough to get the financing roughly how much money would I need to put down on it?

Thanks in advance guys!
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Old 04-23-2013, 03:39 PM
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Comes down to your credit. I was able to purchase a new truck the first day of my job out of college with I think $2k down but I also had a pretty decent credit history and score at that point. I would suggest getting your free copy of your credit history if you haven't recently and your credit score to see what you are working with.
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Old 04-23-2013, 04:49 PM
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Thanks for replying mike!
I haven't gotten a free credit report, I guess I am not sure what a reliable source for one would be because all those advertisements always seem shady. What would a reliable source be?
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Old 04-23-2013, 05:14 PM
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You can get them directly from the rating agencies, transunion, equifax etc.
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Old 04-23-2013, 05:27 PM
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Google annual free credit report. It is a government site that gives you your report free once a year.


Sent from AutoGuide.com App
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Old 04-23-2013, 05:48 PM
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Thanks Junior
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Old 04-23-2013, 05:56 PM
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Start your "life" out right and don't get into debt. Pay cash for everything and you'll be FAR ahead of everyone else in the long run...check out Dave Ramsey.
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Old 04-23-2013, 06:05 PM
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Quote:
Originally Posted by fordpwrstroke7 View Post
Start your "life" out right and don't get into debt. Pay cash for everything and you'll be FAR ahead of everyone else in the long run...check out Dave Ramsey.
I agree to a certain extent but it pays to build a credit history as well. Vehicle debt and mortgages are not the same as a credit card. Never ever get into credit card debt.
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Old 04-23-2013, 06:13 PM
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Originally Posted by 7.3Lariat View Post
I agree to a certain extent but it pays to build a credit history as well. Vehicle debt and mortgages are not the same as a credit card. Never ever get into credit card debt.
Debt is debt. You don't need credit. Check out Dave Ramsey and you'll understand why. Vehicle debt is just as bad as credit card debt...worst investment you can make. Sure, new vehicles are awesome but they don't improve your financial future or help your NET assets.

There are too many people out there are have a tall hat and no cattle. If you're fresh out of college, no debt and have a good job lined up, you're ahead of most people in the world and at a very young age.

I don't care what your ultimate decision is but I figured I'd throw some advice out there that just about everyone needs.
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Old 04-23-2013, 06:27 PM
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Quote:
Originally Posted by fordpwrstroke7 View Post
Debt is debt. You don't need credit. Check out Dave Ramsey and you'll understand why. Vehicle debt is just as bad as credit card debt...worst investment you can make. Sure, new vehicles are awesome but they don't improve your financial future or help your NET assets.

There are too many people out there are have a tall hat and no cattle. If you're fresh out of college, no debt and have a good job lined up, you're ahead of most people in the world and at a very young age.

I don't care what your ultimate decision is but I figured I'd throw some advice out there that just about everyone needs.
A vehicle is at least secured unlike credit card. Unless you plan on buying your house with cash you are going to need credit. I don't know anyone in the middle class that pays cash for a house. It is also useful for other things. You just have to be smart. Cash only is only good if you have too much of it. For everyone else you need access to credit.
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