The credit union denied me my loan saying I had too many bills. See the fact I still have a note on my current car is killing me. That and the fact I have a major bill to pay off for college tuition.

Umm, DUH? <- That is all.

Old news.

For the Grand Prix? Basically I gotta get a better job, which I had an interview for today. Might be a month or 2 before I make $$

I assume you checked your credit report?

Yeah, they said it's because of the amount of "bills" I have. Basically I need about a month or two to lower it. I e-mailed the guy and told him, and if he sells it then Im screwed. If he doesn't sell it, then in a month or 2 I can try again. Even with my grandma (who has perfect credit) I can't get it.

Sigh, I dunno how to help bro. Only thing I can think of is that you could cut down on unneeded items and try to spend as little money as you can to pay off those debts :/. Then you'll have a few more financial options.

Well here are my options:

I recieved a job offer today. At the end of the first month they are gonna give me $2K once training is done. It's sales at a car dealership, and I know I can make some $$ there.

Also my friend Chris knows this lady who owns a private school. I can go do some odds and ends jobs for her, and she pays me and my friend anywhere between $100 and $500 for a days work.

The NUMBER ONE THING that any financial institution takes into consideration when they are considering a loan is the impression that they get from the potential borrower. You can have excellent credit, proof of steady income, no debt, etc. but if they get negative vibes from you, then you will probably be turned down. Having collateral also wouldn't hurt (at least 50% of the borrowed amount)

Bankers are uber conservative when lending money, and with good reason--- they are not in the business of giving money away for free, and they do all they can to be sure they get their money paid back. Bankers do all kinds of stupid s*** that makes no sense to anyone but them, but they, like us, tend to trust their gut instincts. For all intents and purposes, if you ever plan to take out a lot of loans, your banker should be your new best friend. Even talk to and get to know the president of the bank if you can.

In the meantime, check with other kinds of lenders. Some are more lenient than others, but don't trust anyone who is willing to give you a huge loan with no proof of income or collateral. (b/c super lenient lenders are probably going to gouge you on interest, or even worse, are outright loan sharks.)

Also, I suspect the fact that you are trying to borrow to buy a liability item (that car you want) has a lot to do with being turned down.

Um...it's a CREDIT UNION.

1.) Easier to get loans.

2.) They do car loans.

I was getting a car loan. Saying that I was turned down cause it's a liability item is stupid because of it. What they failed to realize is that my current car payment is almost $250 a month, with them it would be under $200. I make my payments on time every month and they don't care. My only other choice is to run to ANOTHER credit union where I have an account and try there.

Edit:

You are right though about presentation. While the woman I talked to wasn't a loan officer (she sent the information for that) she might have made a note cause of how I was dressed. I had just worn some normal every day summer clothes for myself and my grandma told me later that when I go for loans, dress a little better.

Did you show the lender a picture of the car you wanted to buy, and did you have any way to help convince them that it is in good condition?

Look at it from their pov.

You come in, saying you want a loan to buy a used car. (I assume its used, correct me if i'm wrong. I'm making the assumption b/c I remember oyu saying that you are planning on buying it from some guy instead of at a dealership) They don't know what condition the car is in, and they possibly fear that something unforeseen might happen that might damage your ability to pay back the loan (unforeseen repairs , etc). Car loans are easier to secure for new cars, b/c a new car is far less likely to have anything major break for quite awhile. There is no such assurance on used cars. If you didn't show them anything, for all they know the damn car you want to buy is ready to break. Since their money is on the line, the lender is probably going to assume the worst.

also, you are aware that there are other types of lenders besides credit unions, right?

Kill them all.

Ok I e-mailed the dude and told him to e-mail me a copy of the title as well. I'm gonna print some pics of the car up as well.

No sweat. There's other loans out there waiting for you. Other credit unions, other employees, some of which didn't wake up on the wrong side of the bed in the morning. You just have to find them.

The amount of money you still owed in comparison to your income plays a factor in getting the loan as well. They can also consider how much total debt you have as well.

Generally, you want to get loans of smaller amounts and then work your way up. A 30-day, $500 loan is a good way to start out.

Yes, your lender turning out to be a loan shark is a very common occurence. Be sure to check your loan documents before signing; if "break your kneecaps" or "murder your family" are the penalties for late or nonpayment, keep looking.

Those payday advance places are a good, albeit extreme example of what I'm talking about. They are the kind of lender you should avoid like rape---- they give money out for anything, with no collateral--- the reason being that your soul is their collateral.
Once you sign those papers, they have you by the balls and they know it. You can expect to pay interest as high as 400% (in one instance I've been told as high as 1700% ) and you have a short time to pay it back. It's deceptive because they don't talk about interest rates in their commercials, so you are ambushed the minute you walk through their door. I knew their rates were high, but I would not have guessed how high until I did some research. That's why they can be so liberal with loans--- the ridiculous ammount of interest they are getting removes practically all risk for them, since their profit-to-lend ratio is at least 4:1, and they can easily afford to take a few losses.

Now, most lenders are nowhere near that bad, but some of the ones that tend to be more liberal with loans are probably going to balance out this generousity with high interest, so be careful.

I was just poking fun at your use of the term "loan shark", which makes me think of a short, fat Italian guy wearing a pinstripe suit and carrying a baseball bat.

Predatory lenders can screw you with relatively high interest rates and fees, but usury is still illegal (although in some states, small, short-term loans like payday advances are exempt). Typically, I wouldn't think of someone who abides by statutory interest rate limits as a shark.