This is the most popular option because it is the easiest. A co-signer is simply a person who agrees to take on the responsibility of your debt if you fail to make your payments. In order for a bank to accept a co-signer, they must have an established credit history and a good credit score. Most banks base their interest rates on the credit score of the person borrowing the money. This means that if your co-signer has a great credit score, you will get a low interest rate.;
, This is something that will not happen overnight. Therefore, if you want or need a car urgently, this is not the method for you. Apply for a credit card and use it often. Be certain that you always make your payments on time. If you are denied a traditional credit card for some reason, you can apply for a secured credit card. For a secured credit card, a person makes a deposit with the card company. The person is then given a credit limit of usually 50 percent of the amount of the deposit. The person is then expected to make payments just as they would on a normal credit card. If he or she should fail to make their payment, the company can deduct the amount from the deposit.
 Even if you have a credit history, you must still have a sufficient income for the lender to approve the loan, typically $1500 per month before taxes. Importantly, this income must be verifiable through pay stubs or tax returns.  This income requirement is another reason why the co-signer option is so popular, because this requirement can be waived if the co-signer makes enough money.
 Because you are only 18, chances are you will be regarded as a high risk applicant.  That means you may have to apply with multiple lenders to find the best rate.  If banks or credit unions turn you down, there are finance companies that specialize in providing car loans to people with no credit or bad credit. The downturn in the economy has made these companies more prominent in recent years. If your verifiable income is high enough, they may lend to you without a cosigner, but the company will need to protect itself by charging you a high interest rate. If you decide to explore this option, it would be wise to work on establishing a credit history at the same time. This way, you can avoid paying a high interest rate indefinitely.
Get a Cosigner.
Establish a Credit History.
Obtain Proof of Income.
Shop for the Best Rate.
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