Quote:
Originally posted by guinnessgurl
Ok, some background info. I'm 18 turing 19 in August, and I don't have any credit yet. I live in British Columbia so I can't technecially get any until I'm 19 anyways. But I desperately need a car (both my jobs have been working early/late and the buses don't always run early enough/late enough for me - i live in a small town) and therefore I need a loan to get one...
I am willing to wait until I'm 19 to get a loan (I realize if I wanted to do it before then, I would need a co-signer, which I don't have), but I've been told that even then it will be really hard for me to get a loan (even though it won't be for very much - something around the $5000 range). So here is my question....any advice for how I can get a car/loan without the advantage of having credit/a co-signer? I don't really want to have to wait to build up my credit either, I would love to have a car asap if I can.....
I work two jobs, both are very reliable and I'm making a decent amount of money. Even after paying rent, cell phone bill, etc, I still have about $300-$400 left over each month, so i could more than afford to pay off a loan, but it just doesn't seem like I'm going to be given one!!!
Help! Any advice would be greatly appreciated!!! 
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I hate to be the bearer of bad news....
It will be
extremely difficult to obtain a loan without credit. You might be able to with one of the high risk auto lenders that usually advertise "No Credit, Bad Credit, ect is fine!
29.9% Interest... " If you do decide to go with a high rate loan, after six-seven months you should have a score that will allow you (hopefully) to refinance for a lower rate. However, if you are going to be paying much more than you need to, you may not even want to refinance.
You might just want to by a "beater" until you have enough money saved up to buy the car, or at least put a large amount down, as financial instiutions are more likely to lend if you have a lower LTV (loan to value ratio)
I would suggest beginning to build your credit ASAP, the easiest way is likely with a secured credit card. If you have any more questions, please ask!