Verified answer

If he has little debt, they may take him.

Be aware, he will be equally responsible for this debt.

If you miss a payment due to a loss of employment, he will have to pay to keep his credit alive

Also, if he ever needs a loan, he may not get it, since this loan will also be treated as his

An used Ford Escape for 18 grand?

Did you know I just bought a brand new nissan versa for $10,500

(a bit more with taxes)

Coudn't you just get a cheap car to get you around?

I have always bought my cars in cash - even while in college.

No need to get into so much debt so early in life - is there?

And yes, my friends see me in this cheap car - I could care less what they think of me

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RE :Auto Loan cosigner question..?

I'm looking to buy a used Ford Escape priced at 18k. I'm 20 and have some student loans and credit cards that are kept up with, I dont miss payments and though I don't have a long credit history, what I do have is good. I can't seem to find a place that will work with me without a cosigner. (I'm a server while I'm in school, so my income isn't "dependable") I talked to a place that told me they just needed a cosigner that could show more income on the loan. My fiance is the same age as me, so he's in the same boat, but with no established credit yet.. Could his income on my loan be enough to be approved?

Follow 5 answers

It's very unlikely that you would be approved with him as a cosigner. They want someone like your parents or older relatives. Also, unless you're buying a house and taking out a mortgage together, never mix credit and love.

Be thankful they would not lend to you and run. 18K for a used Escape is way over priced to begin with new decent equipped is 20K. Do not apply for car loans all over town either you loose points every time you do. The issuers you have credit cards with are already familiar with your ability to pay are your best bet to get a loan

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