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Horrible credit report.. need a car loan.. have a co-signer.. PLEASE HELP :( ?

I have horrible credit, but I need a car deperately. My dad is going to finance the car, but he wants to have my name on the title (with his) / registration / insurance. We were told that it doesn't matter how great HIS credit is.. mine still makes a difference, and no bank will allow my name to be on anything.
Car salesman told my dad to register, insure and put the title in his name only. I would have to go on HIS insurance policy even!! Does this sound right?? Is there any way around this?? I'm not making the payments.. my dad is, so why do they care if it's in my name?!
I live in NY, my dad lives in PA..we went to a dealership in NJ. Do different states have different rules?
Any and all answers would be appreciated!!

521 day ago

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Answers (1)

sylvester 		If the loan is in the name of yours, then it is really important that as a borrower you got to have good credit history and the lender does not give a damn what kind of credit history your dad is having in the form of a cosigner. Different states do have different rules and I don’t know why it is so.

If you are a college going student and you are really desperate to get a car for yourself, then there is one thing you can do. Apply for Car Loans for College Students where you can get financing for the car up to $20,000 and your poor credit history would not be taken into account. Since your father will be acting as a cosigner, there need not any kind of problem whatsoever. Don’t listen to what the car salesman is saying and all you need to get online and search for lending agencies that offers this kind of financial program. There are agencies like Wachovia, Wells Fargo etc that can offer you the requisite financing and you need to fill and online application form with relevant personal details. It would take some amount of time to review the application form before the money would be made available to you.

I hope that this much of stiff is enough to solve the problem of yours…..!!!!


Posted 255 days ago

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