Loans? Sorry not sure where to post this

Question

Okay so I just turned 20 and  I have no credit but I’m trying to get a car as it’s at least $100 a week to Uber home from work as it’s over an hr walk to get home 🙄 and I’ve been trying to save but it’s just SO HARD and I just really need a car this is ridiculous ( my old cars motor blew)I have a great job I’m a manager at a restaurant and I’d just like some insight before I nervously ask my dad his opinion. Yes I make enough to pay it back I’d be able to pay it back early
But this is what it says when I calculate on my banks webpage

Answer

Interest rate is way too high. You can get them for like 1-2% through a credit union.

Answer

I agree with what others are saying... those interest rates are awful!  Maybe the bank of mom and dad will offer a better loan but I wouldn’t go through your bank if that’s what they are doing. Could you finance through a dealership for a better rate (even if you have a parent co sign)?  Otherwise, is public transportation an option (for at least one way of your trip) or a bike?

Answer

Daaaamn. That interest is ridiculous. Pure fucking theft right there

Answer

Get a bicycle for now and save money its great excersise and ull save 100 a week

Answer

The average car loan for a person with ghost credit(no credit) is about 10.5% which after a year you can refinance and lower it. Your loan should be under $14k the lower the better. That is really really high. Please do not do that

Answer

So it looks like you need to work on your credit. Maybe get a credit card and start using that to pay your Uber. (Just keep what you would be paying on the side) and every month when you get the bill pay it off completely. 
This will build your credit pretty fast and your interest rate for a car will go down. 
That’s the reason why it is so high is because they have no history so technically there’s no proof you can pay the loan back. (Yes I understand you can but to banks they don’t know that )

Answer

Loans are the worst choice i ever made when trying to get my credit up!!! Try to get a secured credit card.

Answer

That’s crazy high! I have 2 car loans right now, one is only 4% and the other 4.99% and I honestly thought that was too high, but we also bought 2 new cars in 4 days so I expected that a little I guess.

Loans? Sorry not sure where to post this

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