7yle wrote I wouldn't finance it. Buy it outright to save money then get a credit card and use it and pay it off on time each month.

If financing is at 2% (my boss would be the co-signer so it would be between 0-2%), I would only be down 400 bucks if I financed a 20k truck.

Your best bet is to save more money up like get 8k and then sell your truck and go make a big down payment on the truck then you just got little payments here and there to make

002 wrote

7yle wrote I wouldn't finance it. Buy it outright to save money then get a credit card and use it and pay it off on time each month.

If financing is at 2% (my boss would be the co-signer so it would be between 0-2%), I would only be down 400 bucks if I financed a 20k truck.

For a 17 year old with no credit history I can guarantee finance won't be 2%. I'm 19 and my finance is at 10%.

GMC wrote Your best bet is to save more money up like get 8k and then sell your truck and go make a big down payment on the truck then you just got little payments here and there to make

Wouldn't be really any different if I made a big or 10% down payment. The 14k or what ever I'm financing would be sitting in the bank waiting for how ever much to be taken out each month. It's just a matter of looking at 14k, or 4k.

I thought you could see a car at any age? But if you feel you would get more money for it now than in a years time go for it! Maybe wait until near christmas, many people will be interested in buying it as a gift! Hope you sell it for a decent price! You will have to show me this truck you're talking about and let me know how it goes?!

Get a better deal if you sell vehicle yourself

Dealer always gives bottom dollar and sells for high dollar

Best bet is to sell yourself, lump sum on used truck as down payment.

This makes smaller payments and lower intresest rate

Yeah no doubt, I'd be selling it myself. The rebuilt title kills it enough, but I doubt a dealer would give me much of anything.

Since you already have a working vehicle, I think your best bet to increase your credit score substantially would be to purchase the vehicle outright and get yourself a secured credit card. A secured credit card is basically a credit card that is made to improve or repair your credit. With you being the young age of 17, your credit is vital. If you were to get a vehicle that you can't afford or a loan you are unable to repay, your credit would take years to rebuild. Make sure you are financially ahead of the game. When your credit is good, it goes from "who will give me a loan" to "who can give me the best rate on a loan".

I know right know you want the new shiny truck but don't hurry yourself or put yourself in any kind of disposition. People have a tendency to be too materialistic. Just keep in mind, the truck will ALWAYS be there. So make sure you know your EXACT financial situation, especially when dealing with dealership.

If after reading this, you are interested in a secured credit card, look into a capital one secured card. After I did some extensive research, I found that capital one had some of the best benefits for my situation and haven't been dissapointed.

Brawley wrote Since you already have a working vehicle, I think your best bet to increase your credit score substantially would be to purchase the vehicle outright and get yourself a secured credit card. A secured credit card is basically a credit card that is made to improve or repair your credit. With you being the young age of 17, your credit is vital. If you were to get a vehicle that you can't afford or a loan you are unable to repay, your credit would take years to rebuild. Make sure you are financially ahead of the game. When your credit is good, it goes from "who will give me a loan" to "who can give me the best rate on a loan".

I know right know you want the new shiny truck but don't hurry yourself or put yourself in any kind of disposition. People have a tendency to be too materialistic. Just keep in mind, the truck will ALWAYS be there. So make sure you know your EXACT financial situation, especially when dealing with dealership.

If after reading this, you are interested in a secured credit card, look into a capital one secured card. After I did some extensive research, I found that capital one had some of the best benefits for my situation and haven't been dissapointed.

Yeah, I'll be getting a credit card when I turn 18 and essentially be buying everything on that to raise my credit.

With the truck, the plan is that I will have the 15-20k cash sitting in my safe / the bank so that it will be paid off and I won't default on the loan. I would simply just be financing it to raise my credit score.

002 wrote

Brawley wrote Since you already have a working vehicle, I think your best bet to increase your credit score substantially would be to purchase the vehicle outright and get yourself a secured credit card. A secured credit card is basically a credit card that is made to improve or repair your credit. With you being the young age of 17, your credit is vital. If you were to get a vehicle that you can't afford or a loan you are unable to repay, your credit would take years to rebuild. Make sure you are financially ahead of the game. When your credit is good, it goes from "who will give me a loan" to "who can give me the best rate on a loan".

I know right know you want the new shiny truck but don't hurry yourself or put yourself in any kind of disposition. People have a tendency to be too materialistic. Just keep in mind, the truck will ALWAYS be there. So make sure you know your EXACT financial situation, especially when dealing with dealership.

If after reading this, you are interested in a secured credit card, look into a capital one secured card. After I did some extensive research, I found that capital one had some of the best benefits for my situation and haven't been dissapointed.

Yeah, I'll be getting a credit card when I turn 18 and essentially be buying everything on that to raise my credit.

With the truck, the plan is that I will have the 15-20k cash sitting in my safe / the bank so that it will be paid off and I won't default on the loan. I would simply just be financing it to raise my credit score.

Sounds like you are on the right track.

To answer your original question, yes, you will have the option to finance your vehicle when you turn 18 and potentially raise your credit score. Make sure whatever dealership you are considering regularly reports to all major credit bureaus so you can reap all the benefits of financing, if you choose to do so.

Make sure and consider all your options before proceeding. Another alternative could be an auto loan through your financial institution. Your local bank or credit union may be willing to negotiate a lower interest rate for you, which will translate to lower payments or a shorter term loan, so you ultimately pay less for the vehicle.

No matter what direction you plan to take, you should always research your options thoroughly. Don't let the dealers pressure you into a deal you feel uncomfortable with. Make sure and have numbers in your head before you go into the dealership. I can see you already have a good plan, so whenever the time comes, I'm sure you will make a well advised decision.