New Credit Report Scoring System
2010
New SSN, New Job, H1B Visa. Car loan possible?
I’m on H1B work visa and started working Oct 1st. Received my SSN card 3 weeks ago, so I’m very fresh and obviously don’t have any credit at all.
I checked my experian report -just in case – and saw that the “secured” credit card that I got from Bank of America in 2008 is in the system, but doesn’t show anything except that. No score, no number, nothing…
Based on that, I’m looking at a $15,000 car from a private party. I am willing to put $7-8k as down payment and want to finance the remaining.
Do I have any chance to get a car loan?
I am working full time for a month now and my annual salary is $54,000. I have paystubs etc. but no credit score/point.
Where to go? Where to ask?
If I go to bank of america and explain the situation, do I have a chance to get a $8,000 car loan?
Any kind of help is appreciated.
Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool – carinsurance.yoll.net
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