scribbler444 asked:
ok so I want to buy a car off my friends dad. The car is 11 grand and since not buying from dealor would have to go through a bank. I dont have credit so I know I need a cosigner, I need help can you guys tell me the process I need to go through and is it cheaper this way like how much would monthly payments be with 2 grand down. How much are interest rates usually and how would I go about getting this loan
ok thank you its just I work off the books at a restaurant I make great money but yeah off the books
yea I dunno I feel weird asking if I can just make payments to him. Is there anyway possibly I can have my boss do something to show income or something along those lines?
Jorge
ok so I want to buy a car off my friends dad. The car is 11 grand and since not buying from dealor would have to go through a bank. I dont have credit so I know I need a cosigner, I need help can you guys tell me the process I need to go through and is it cheaper this way like how much would monthly payments be with 2 grand down. How much are interest rates usually and how would I go about getting this loan
ok thank you its just I work off the books at a restaurant I make great money but yeah off the books
yea I dunno I feel weird asking if I can just make payments to him. Is there anyway possibly I can have my boss do something to show income or something along those lines?
Jorge
Jamie
the easiest way to get your answer is to actually call the bank they ask for basic info and they let you know. they will ask SS#, DOB, legal name, current address, monthly income and a few other things same as with the cosigner.
Comment by snowboarder — May 17, 2010 @ 3:38 pm
Dennis
Sounds like you should strike the deal with the friends Dad and see if he will take the 2K down and let you make payments to him! Without proof of income….not a chance even with a co-sign unless you go to a car lot or dealer. Much luck.
Comment by animal27 — May 17, 2010 @ 10:39 pm
Lucille
Not all banks will do a direct loan for an auto, the first thing would be to find out if yours does. Local banks and credit unions usually do these type loans for their customers
You will need a co-signer. Some banks use the credit of the stronger buyer so you could get a really good rate. Go to the bank or credit union with your co-signer and apply for the loan. They will be able to give you exact terms and payments. They might be able to help you with the DMV paperwork.
Enjoy your new car and your new responsibility.
Comment by Confused — May 20, 2010 @ 8:05 am