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Sunday, March 14, 2010

My father has agreed to cosign for an auto loan?

My father has agreed to cosign for an auto loan for about 12,000. His credit has 3 medical bills that he has been paying of and when I pulled his report it showed the original amount then the remaining balance. Also he has a 29,000 mortgage loan that hes been paying on for 11 years never been later. Does anyone think I will have a problem getting approved with my father cosigned on the loan?

My father has agreed to cosign for an auto loan?
Auto finance is what I do for a living and with a 11-years paid as agreed mortgage he should have no problem getting approved.





You dad is doing you a huge favor, don't let him down.
Reply:My parents had a lot more than that when my mother co-signed for a car for me....their mortgage was $120,000 and they had just started paying on it (they had recently built a new house) and they had two vehicles of their own, not to mention credit cards. I would say it shouldn't be a problem.
Reply:look at the score, if it is more then 650 no problem. if in the low 500's no car. But you should be fine, and trust your father.
Reply:As long as he is paying his bills and there are no over due or unpaid things then there should be no problem. Just make sure you pay your payments to keep it that way.
Reply:It shouldnt be a problem. Just be sure you pay it and dont mess your credit up and possibly his.


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