What do you need to get a first time car loan WITH a cosigner?
December 29, 2009 by admin
Filed under Car Finance
Hi! I am wanting to buy my first car. I’m 18 years old and the car I want is about $15,000. I just got a job (I have had other jobs before but not for the past 2 months) but I don’t start for another 3 weeks. I will be earning about $600 a month. I have NO other bills to pay, and my parents will be giving me the money for insurance and HALF of the car payment, so paying it will be no problem.
I need to apply for a loan, and I WILL have a cosigner with excellent credit (my dad). I know it varies from place to place, but in general, will I need to have worked at my job for a certain amount of time before I can get a loan? Also, can I put down what my parents give me as additional income when applying for loans? THANKS so much!
What happens to my car loan if my co-signer files bankruptcy?
December 21, 2009 by admin
Filed under Car Finance
I have a car loan of about $10,000. I got this loan about 9 months ago. I am just wondering how it will affect me if my co-signer files bankruptcy.
The car is in my name and she is the co-signer. So with all this new stuff I know does this mean they can come take my car too? Even though I make the payments .

