Monday, October 26, 2009

High Risk Credit+ Cosigner = Car Loan?

I am 24 years old, with a high risk credit score. My ex husband ran up a bunch of bills in my name...and i couldn't pay them all off. I dropped that loser...but now I have a problem. My van had an electrical fire Sat night and i need a new car. I found one for $7000.00 dollars. Is there any way I could get a loan with a cosigner for that much money? I have several people who are backing me up on this. Thanks for your help :)

High Risk Credit+ Cosigner = Car Loan?

Car loans all depend on a number of factors. One, the value of the car. The worse your credit the lower the percentage of the value a lending institution can give you. Second, does your cosigner make more money than you do? If so, then they are considered the primary borrower and their credit score will be used. Third, $7,000 is a lot of money. Of course the higher amount of the loan the riskier it is. You may want to consider a cheaper vehicle. Also remember, if you can't get a loan from a traditional bank, try a financial lender such as Wells Fargo Financial, Beneficial, or Citi Financial. Their rates are higher, but more often than not they are able to lend to the lower end of the credit score spectrum.

High Risk Credit+ Cosigner = Car Loan?

Car Loan Guide: http://carloan.autoonlineguide... Report It

High Risk Credit+ Cosigner = Car Loan?

Yes, you probably can get one with a co-signer. They are actually the one responsible for the loan in most cases, so make sure you make your payments and that you are also listed on the loan, to establish good credit. As far as your ex's bills go, you could make payments to pay off the debt, and that will help you a lot.

High Risk Credit+ Cosigner = Car Loan?

why not file for divorce and get him to help

pay the bills down

or even file bankruptcy and be done with all the bills

still cars can be bought for 2000 or less with no loan

I get them all the time from car auctions

High Risk Credit+ Cosigner = Car Loan?

With bad credit, a cosigner will not guarantee approval for a loan. It may be possible if you have a good relationship with your local bank (sometimes they are willing to go out on a limb for loyal customers). Some car dealers have programs to finance everyone, just don't expect a super-low rate.

Good luck.

No comments:

Post a Comment


High Risk Credit+ Cosigner Copyright 2008 All Rights Reserved Baby Blog Designed by Ipiet | Web Hosting