 What if your wife co-signed for a loan behind your back? Are you on the hook, as the husband, to pay? |
| My brother was looking over a credit report and came across an entry from a bank. His wife went behind his back and co-signed on a car loan for her brother. What are his options? He wants doen not ... |
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| I have never had a credit card, mortgage or car loan. I have never filed bankruptcy. I have looked at my credit report and the majority of problems are medical bills. I also have some unpaid utility ... |
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| Heres the story.. Two years ago i was working full time and making good money. My brother was having financial problems. I took $5,000 of his debt and put it on my credit card so he could get his ... |
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| i have no credit yet. and i need credit so i can get certain things i want. where can i get a good credit card when i have no credit?... |
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 I was fired the day after Xmas, they said that I can reapply in 6 months. Would you go back and work? |
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| what are some methods that will help me build my credit i dont have bad credit i have "NO" credit how do i ... |
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 I have no debt, only my student loan which is being paid and is not in arrears. Why am I being declined a loan |
| I was nearly fooled into Yes loans but have gone with best4loans instead. I found out they are a con too. So now I'm applying with black horse, but I'm baffled why I'm not being ... |
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I have a $5 bill. and on the bottom right it has a big Purple "5"
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 How to get a loan with bad credit? |
About 5K.
In need of good advice.... |
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 How much money do i have to make to qualify for a 264,000 loan? |
| I want to purchase a home that is priced at $285,000 I have 10% down, now I just need to know how much I need to make to qualify for a conventional loan.... |
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| Seriously, I have bad debt once out of college and this one card has a pretty high limit and it's maxed and I have tried calling them for assistance but they refuse to help me out and lower my ... |
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| I have an aspire credit card which I haven't had any trouble out of but I want to get rid of it before its time for the annual fee of $150. What is the best way to get rid of it. Cancel it and ... |
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| I have almost $2000.00 total in credit card debt, on three different cards.(CitiCards: $1000.00, Capital One: $700.00, and Gap $200.00.) I have cut up all of my credit cards, but have yet to cancel ... |
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 Why would someone fraudulently purchase items on my credit card and send them to my house? |
| Several items were purchased on my debit card and some of the items bought were sent to my house. I can understand why someone would buy something for themselves, but why steal my credit card # and ... |
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Megan C | Need a car, 21 year grad student with little credit history, my parents can't help me co-sign, what do I do? |
I had a new 2009 Jetta that my Dad was financing. I was in a car accident 3 weeks ago and the car was totaled. My dad reapplied for a bank loan for another car and was turned down due to the state of the economy. I am moving to start law school in a week and a half and need a car where I am moving to. My mom can't help me cosign because she is refinancing her house. I've already asked my other family members to cosign and all have said they can't help either. So I'm at a loss of what to do. I don't need a new car but want something decent, preferably in the $10,000-12,00 range. I need financing for the present state until one of my parents can refinance the car and we can lower the interest rate. Any thoughts?
Additional Details
My dad and mom are willing to help me make the payment each month but we need to get financing. I honestly don't appreciate the rude comments. I'm moving in a week and a half and the small town where I'll be living does not have a bus system. If you don't have any actual advice please don't bother to comment. If you work at a dealership that offers loans to people with no or bad credit, I'd be interested to hear about the process. |
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Carlii
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I went through that about a year ago. What you would need is 30% down - if you have 30% down, you pretty much won't be able to find a dealership that would tell you no! So, if you want a $10,000 car, and you have $3,000 for a down payment, you will be certain to find a good deal.
Also, if you do have a cosigner, make certain you check the financing rates for yourself alone AND yourself with a cosigner. My husband and I found that, even though I had better credit, we got a better deal if he applied by himself - he makes waaaay more money than I do. |
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SPIFIMAN1
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Auto finance is what I do for a living and car deals are based on the following factors;
Factors.
1. Loan to value (LTV).
2. Age of vehicle.
3. Term of loan.
4. Miles on vehicle.
5. Down payment.
6. Time on job.
7. Time at residence.
8. Monthly income before taxes.
9. Credit score/profile.
10. Total debt to income including new payment.
What they look for;
1. Between 85% and 115%.
2. No older then 8-years.
3. 36-72 months.
4. No more then 100,000.
5. 10% of the sales price or $1,000.00.
6. 2-years.
7. 2-years.
8. $1,500.00 to $2,000.00 depending on lender.
9. 540 or above with 4 paid as agreed lines of credit with 1 being a installment loan paid at least 12 times for at least $150.00 a month and in the credit bureaus for at least 3 years.
10. Not to exceed 45%.
Another thing that comes into play is called payment to income ratio so depending on the term of the loan and the interest rate you would have to budget for the payment. Most lenders do not exceed 16%.
There are lenders out there that have first time buyer programs you need to find a large dealer that advertises Special Finance and go talk to the Manager they will be able to help you.
Additional information:
Student loans are not considered income so you have no chance at getting a loan in your name only sorry.
Save up your money and buy the best car you can pay cash for. |
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Red
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"I don't need a new car but want something decent, preferably in the $10,000-12,00 range."
There's the problem.
You can find a RELIABLE car for $1500. Hell you can pick up a pretty nice reliable car for under $5k. Here's the deal, go to the banks and find out how much you qualify for first, then find a car in that budget. |
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The Lion
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I had the same problem. Long story short, you just need to keep trying. It took my salesman two whole months before he got me financed for a used vehicle. Mine costed me 7K, and it's very reliable. |
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src50
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Buy a cheap used car for cash. You're not gonna get financing on your own. |
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The Master
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why do you need a car in the $10,000-$12,000 range?
At that age a $4000 car should be more than enough. I have a dodge intrepid in that price range and it's great, at least for me. It's reliable and physically flawless. |
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Mickey Mouse Spears
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Save up as much as you possibly can for a decent down payment on your next car. I just bought a 2005 Jetta TDI in your price range. The TDI runs on diesel, and can last up to 300,000 to 500,000 miles (if you don't total it first). My credit wasn't great either. |
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ahivalaloca1985
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go to any dealer that uses credit acceptance( bank) they approve everybody but they might ask you for a big down payment if your credit had bad history |
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HEATHER
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You aren't going to get financed without a hefty down payment, or income, or a cosigner. Not in this economy. People are not being rude, they are being realistic. Get a $1000 junker to get you from point A to point B for now. |
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Frank112
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Take the bus. Or maybe face reality and buy a used car alot cheaper than $10k. |
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don p
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stop living above your means.pay cash for a car and make car payment to yourself every month.you'll be amazed at your bank account a year from now. |
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The Golden Buffalo
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buy a $1,000 car |
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Ski owl
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no one should cosign a loan for any body. If you don't pay they get stuck with the payment and a black mark on their credit. Lower the amount you are willing to pay for a car and pay for it yourself, no refinancing by your parents. |
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Dana R
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You should go to one of those tiny corner dealers. They'll finance anyone. It would help you if you had something to put down at signing. Good luck! |
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Secretlife
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Hmm that's a hard one sorry no can do. |
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