Is there a way I can qualify for a car loan when my credit profile is still thin?

Answers:2   |   LastUpdateAt:2012-09-03 04:05:02  

Asked at 2012-08-19 19:48:03
I have good credit (750) , but I recently tried to apply for a credit card company and was denied because my credit profile is too thin . Right now I'm making about $ 2500 a month , but I'm a massage therapist , so I pay cash directly . I want to buy a car , something reasonable , but I have fear of applying for a car loan and get denied , do not want this to affect my credit . How I can make sure that a lender would recognize the money I'm making now ? Or is this all just a matter of time , as my profile is too " thin" at this time ? What would my car loan application judged?
Answer1uncount nounAnswered at 2012-08-22 03:31:25
To be paid in cash , no matter if you are depositing your income into your bank account and report it as income , paying their taxes , etc. If not, we will continue having trouble building a history of earnings and so a credit history . MedlinePlus MedlinePlus A personal credit card would be easier to get, and is based on your credit report ( FICO excellent) and declared income . Just charge the expenses to your credit card and then pay the card in full upon receipt of each statement . That will build your credit better, and you will not have to pay interest. MedlinePlus MedlinePlus Consider saving for a car instead of financing . Or, pay half down, while funding of an amount you can afford a 24-month loan for a used small car .
Answer2YuniAnswered at 2012-09-03 04:05:02
Consultations only reduce your score of 1 or 2 points - not worth worrying MedlinePlus . All that a lender can accept is their tax return or pay stubs . MedlinePlus No proof of income - not going to give you a loan MedlinePlus . Where is the proof that you have a job and pay taxes ? MedlinePlus /
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