18, want a bike, 6 months of credit?

[Roy B]

Hi, im 18, i got a credit card and a gas card in july of 08.. both have a credit limit of 600 bucks. i would only use my gas card for gas and usually spent like 200 or 250 on it and i would pay it in full when the bill came in. my credit card though, i would run up to 500 something, but i still paid off the full amount never missing a payment or coming late. ive been doing this for 6 months and i would like to buy a motorcycle.. nothing huge. maybe 2000 or 3000 loan. but i cant use my parents as co-signers because they have horrible credit.. Any suggestions? am i going to have to wait it out a while? am i hurting my credit by running the credit card almost to the limit? i can get a decent down payment if needed.. my parents bought me a car under thier credit but im making the payments.. and 400 bucks a month really sucks when your 18..

 

[jm131]

I agree your credit history may be a little too short right now to qualify for a loan. You may need to wait a little while, but in the meantime be sure to have your parents add your name to that car loan. They can either put it in your name and have their names second on the loan, or vice versa. If you are paying that kind of money you really need and deserve to have it build your credit as you pay. Also, car/bike dealerships place more importance on your previous history with car loans than on your credit card history.