camaro94

AS everyone knows, I have been looking to buy a work car. I have found a couple that I'm considering(an one that I am about 99% sure I'd like to get) but I have to get a small loan($2000-3000 - either get the loan for $3000 to pay for the car, or I clear out $1000 in my savings, and get a loan for $2000). Does anyone know any car loan online places that would be a good place too look. I need to try and find out if I can get the loan soon, as I don't know how long the guy will keep the car. I'd like to have a pretty close to definite answer on the loan by Monday if I can.

Also, another question, and this is what worries me. If I'm a co-signer on my husbands truck, is it even possible for me to get a loan for just myself at all? Some people said that since I am, I can't get a loan for myself at all, and I don't know for sure. He's up to date on his payments and has been paying the loan amount, maybe a little more than the actual amt. at first.

I really, really want this car....

archemedes

as for teh co signer thing it basically is like you have the loan (at least that's what they told my mom when she cosigned for my car in '95) I haven't found a decent loan site online yet check teh local credit unions they usually have fast response and a little less stringent requirements

camaro94

see, they told me that it was his loan, I'm just there in case he backs out...so i don't know what's what...

I could go to my bank, but I don't know if they will give one to me or not. I have my checkings and savings through them, and have since like 2000.

archemedes

they are usually the best place to start they already have a relationship with you

camaro94

I'm gonna go there tomorrow, I guess. And if they won't time for the yellow pages. Wish I had relative that owned a bank, lol.

My dad has these checks that are basically for a small personal loan. If I absolutely can't get one, I could always beg for him to let me use one of his, and then just make the payments through him. I know that won't help my credit, but I really don't see any other option. Also, he's not going to like the car I picked, so he may not want to help me.

archemedes

what did you pick?

Mike Jones

iTrader: (1)

If you co-sign for his loan when they pull your credit that loan will show up on your credit report. So yes it does hurt you to have that loan on you, it's almost as if you had taken the loan out yourself.

An example is I tried to do a second mortgage for an older couple but when I pulled their credit I found out they cosigned for three of the children's cars and because of this I was unable to do the loan.

Because of this you'll have to get both you and your husband on the loan so you can show more income.

BTW, personal loans are the hardest to get because they are unsecured. Since Jan. I've only had one unsecured loan actually close. You really want to put something up as colleteral to make it so you can get the loan and you'll get a much lower rate.

camaro94

would my Camaro work as collateral?

camaro94

also, my husband doesn't have a lot of credit(which was the reason I co-signed) so is having him on there going to help?

camaro94

plus, I was going to put down at least $500(so I'd only need the loan for $2500, and next year, I would put my bonus check(probably around $1000) plus my income tax return(at least $500) so I should be able to pay it off by no later than 2 years at the most(most likely).

Mike Jones

iTrader: (1)

Yes he will help but just for his income

Money you plan on using in the future to pay it off doesn't matter in the lease in getting a loan. I hear it everyday how they're going to pay off their loans in a month or so but then they come back later deeper in debt than ever so loan officer's don't really believe anyone who says that.

camaro94

I know that, but it just means that I won't have to rack up interest costs. Which helps ME.

camaro94

you'll see if I get it. Every time I say something about the car I want on here and specifically name it, it never works out. So I'm not saying anything this time. At all. If I get it, you'll see it, and if I don't, I'll tell you after the fact. When I'm sad. lol



On a side note, I am so nervous about going to the bank tomorrow and getting this loan. I don't think I'm gonna sleep much tonight at all.

camaro94

well, crap it doesn't matter. I didn't even go to the bank to find out. Ryan's k-car just blew a head gasket and started mixing water and oil. So I didn't want to take on a car loan right now in case something may come up where I need the money. I would have been stretched really tight if I got the loan, and I just can't do it now. You have no idea how mad/sad I am. I really wanted that car. He wanted a little bit too much for it, but I had hopes of bringing it down. On the upside if it doesn't sell and he does drop the price, maybe he'll drop it wenough where I can take out a very small loan, and use my savings. Or Ryan may try to sell the T/A and get it himself, but I told him even though its a 79 he won't get that much for it to buy the other car, maybe about halkf if he is lucky.


And Arch - the other car was a 1985 Pontiac Trans Am. Body in great condidtion, a few things here and there outside and in, and a tune up. The interior was really awesome for its age. Black, no emblems, no decals, the LB9 305, Auto. I drove past and fell in love.....

WidowMaker T/A

Do you want to shoot the k-car? I don't mind.. piece of garbage.............