One of the best things you can do is work on your finances when you are young having good credit will make all the difference in the world. Not everyone gets this advice when they are young so consider yourself one of the lucky few.
One thing I will tell you when you have no credit or bad credit its hard to get any kind of loan. Doesn’t matter the loan just know it might be an up-hill battle for you. But know that right now today, is the time to start building your credit.
Need money for a used car in Boston Massachusetts
At the end of the day you need money to buy a new or used car in Boston Massachusetts and when you have zero credit auto lenders find it hard to make sure the risk is in their favor because they want to be paid back on the loan they give out.
With no credit you usually aren’t going to get loans with a good interest rate but that’s okay because you might be able to find an auto dealer that works with low to no credit car buyers in Boston.
Smaller loans for no credit car buyers in Boston
When you have no credit you want to maybe try for a small loan for a used car and possible have a $500 down payment for the used car in Boston to get the ball rolling. Once you have shown lenders you can handle small loan amount pay offs they may give you a bigger loan amount.
This move will help you establish your credit and at a faster pace.
Getting a credit card might help you build your credit score up for the first time. Many lenders suggest that you do get a credit card with a smaller amount and work on paying that down every month. If you are going to use your credit card to build your credit all I suggest is that you pay it off in full every month. Maybe use for gas and groceries every month.
Why good credit matters for a used car in Boston
Building your credit for a car loan is a great idea because the better your credit score is the car dealership can give you “perks” like no money down on a used car in Boston MA but that’s if you have a great credit score.