well my issue is more with car dealers than anything. i recently was looking into getting out of my mark VIII and getting into a miata. but being 22 without any sort of established credit, no co-signer, and an older american car to trade in gets you laughed at. but then i remembered i had financed the lincoln had i not? so where's the credit from that?
well it turns out i had gotten it at what's known as a note on lot dealer. meaning they finance based on confidence and job history, so i'd spent a year of my time paying on a car and not getting any benefit from it. so i've gone from dealer to dealer, test driving miatas, and telling them my story. and the finally yesterday at the saturn dealership i learned some valuable information. according to the consumer credit protection act; anything you payfor that has a finance charge or APR has to be reported to credit bureaus upon the buyers request. and that's the law. so now i've opened a whole new can of worms. because i've been paying early, making all my payments and never missing a one.
so i checked my papers, my contract, and terms. there's an APR, a finance charge, and even some "miscellaneous fees" so now i'm going to have to jump down that dealers throat and get my shit taken care of. i didn't know it was legal for such a dealer to exist that doesn't report back to a creditor. but at the same time i guess there's shit out there designed to protect the consumer from such business. though most consumers don't know it in the first place.
Dude, I'm sure you could get financed somewhere - problem is, NOBODY is lending out money right now due to panic on Wall Street and banks closing daily.