I dont have established credit yet and its been hard for me to get a car loan...?

I only have 2 lines of credit with the oldest one being only 5 months. What are some things i could do to finally see an actual number on my report?

As stated above, having a credit card will boost your credit score, but don't abuse it. Buy 1 thing every month, and pay it off every month. This is the best thing for building credit, but is also the most dangerous.

Also, try your local credit unions for an auto loan. They try to work with young adults establishing credit. Source(s): 7+ yrs Credit & Collections

Open a credit card account. There is no instant credit to it, you have to establish a history, which takes time.
You need to be careful with this because everytime you apply for a credit card or loan, they pull your credit history which is bad for your credit because it shows to the company that you keep applying for more "free" money. Your best bet would be to go to your local credit union (these are better than banks because they generally have lower interest rates) and talk to a loan officer about your needs. They will pull your credit report and go through it with you, which will help you understand how it all works. then they will tell you how much you can get for a car and what your monthly payments will be. Another piece of advice is if they offer you GAP insurance TAKE IT!! It may add about $200 to your loan, but if you total your car, the insurance will wipe out the remainder of your loan if your car insurance won't cover it all. Great if you are planning on upgrading your car or consolidating bills on this loan-trust me-this saved me about $2500 when i totaled my car and had it so i could get a new loan and car in about a week. I hope this was helpful!
If you are eligible for a credit union, you might see if they would be a little more interested. If you just have LITTLE credit as opposed to bad credit, a credit union can be a little more flexible. Good luck. Stay away from the bad credit/no credit places who are going to stick you with the usury rates if they can!
Auto finance is what I do for a living and I have to agree with the other posters.

You should try your own local bank or credit union first and possibly get a parent to co-sign for you.

If this is not possible, go to any dealer that advertises Special Finance and talk to the Manager, there are several lenders out there that have what's called "First time buyer" programs. The Manager should be able to get someone to approve you.

Whatever you do, stay away from the buy here pay here places. They will charge you way to much and not report to the credit bureaus so all of the payments you make to them do nothing to help your credit.

Good luck.
Finance Manager for a car dealer for over 7-years.

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