Katie asked:
I would like to purchase a new car soon, but don't have a very long credit history since I'm only 19. I have tried to get a car on my own, but have found that to be pretty much impossible right now. I have a relative who is willing to cosign for me, so should that increase my odds? I have over 20% to put down if that makes a difference.
I would like to purchase a new car soon, but don't have a very long credit history since I'm only 19. I have tried to get a car on my own, but have found that to be pretty much impossible right now. I have a relative who is willing to cosign for me, so should that increase my odds? I have over 20% to put down if that makes a difference.
Thanks.
sp*possible
Garden Ponds
Bowhunting
Yes a cosignor makes a difference. If their credit is good, you should have no problems. Just remember even if you are making the payments, the debt is still on the cosignors financial records and what you do or don’t do as far as paying off the debt will effect their credit rating.
Bowhunting
Having a cosigner will greatly help out, that is if your cosigner has good credit. And having 20 percent down will help out as well. Good luck.
Home Theater Speakers
Yes, with your down payment and a co-signer with good credit, you should be fine. It’s also a great way to build your credit so that next time you won’t need a co-signer.
Dog Supplies
you should have no problem as long as the back has good credit and you have a good job,
Archery Equipment
Just use the 20% down fora car.
Even with a cosigner, this will be difficult at best. Really, if you need one, you can’t afford that car anyway.
As for building credit, cash solves that issue. Credit rating is just a measure of how often you are in debt repaying a bank. So says Dave Ramsey.
Video Games
I say take the 20% and buy a car with that.
Take the money you would be paying in car note and put it in a savings for emergencies.