In Need Of A Loan!
10-28-2003, 12:02 PM
#11
Super Moderator
Join Date: Sep 2002
Location: Tallahassee, FL
Posts: 5,425
cosigner? Or was it you whose dad would not cosign?
My dad cosigned for my motorcycle. He said if I missed a payment, the bike would be his, and he would take over the payments. Sounded fair to me.
My dad cosigned for my motorcycle. He said if I missed a payment, the bike would be his, and he would take over the payments. Sounded fair to me.
10-28-2003, 12:10 PM
#13
Senior Member
Join Date: Aug 2003
Location: Cedarville, New Jersey
Posts: 141
Your not going to get a loan for much money, and the interest is going to be outrageous. Your in the same situation as me, and prior to having a cosigner the best i was able to do was 5500.00 @ 10.9% APR, and thats insane. The RX7, with my dad as a cosigner, will get me 6.9%apr on a 18,500.00 loan.
Same deal with my dad, one payment and its his car.
Same deal with my dad, one payment and its his car.
10-28-2003, 08:37 PM
#17
Super Moderator
Join Date: Feb 2002
Location: Amityville, New York
Posts: 12,288
without someone to cosighn your **** out of luck.
Unless you buy a NEW car and put a hefty downpayment on it
Banks dont want old cars, they dont even want new cars, or people's
houses if they dont pay them off, they just want thier money back
with interest.
Now if you happen to REALLY REALLY REALLY know a loan manager
in a bank then its a different story. I got my motorcycle loan when I
had no credit the old fashoned way- put 1/3 down and falsified my
W-2s,1040 tax return and bank statements, then again the bike
was new.
Very hard to find someone to hold the note on a old car.
Unless you buy a NEW car and put a hefty downpayment on it
Banks dont want old cars, they dont even want new cars, or people's
houses if they dont pay them off, they just want thier money back
with interest.
Now if you happen to REALLY REALLY REALLY know a loan manager
in a bank then its a different story. I got my motorcycle loan when I
had no credit the old fashoned way- put 1/3 down and falsified my
W-2s,1040 tax return and bank statements, then again the bike
was new.
Very hard to find someone to hold the note on a old car.
10-28-2003, 09:33 PM
#20
Super Moderator
Join Date: Feb 2002
Location: Amityville, New York
Posts: 12,288
Originally Posted by Dramon_Killer' date='Oct 28 2003, 10:19 PM
No offense but being 18 a loan isnt something you want to have to worry about.